The global rubber chemicals market was valued at $5.4 billion in 2022, and is projected to reach $8.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Rubber chemicals are a group of chemicals and additives used in the production and processing of rubber materials. These chemicals have various functions and are essential for achieving desired properties in rubber products, including elasticity, durability, strength, and resistance to environmental factors.
Surge in population base has led to rapid urbanization in both developed and developing economies such as the U.S., China, and India. This has increased government spending on the building & construction sector to develop various upcoming infrastructure projects. For instance, according to a report published by the National Investment Promotion and Facilitation Agency, infrastructure activities accounted for 13% share of the total foreign direct investment (FDI) inflows in 2021. Furthermore, rapid development of water supply, sanitation, urban transport, schools, and healthcare aid in the growth of the building & construction sector. The construction and infrastructure sectors use rubber products such as conveyor belts, seals, and insulation materials. The growth of infrastructure projects, including roads, bridges, and buildings, drives the demand for rubber products and, consequently, rubber chemicals. These factors are anticipated to fuel the demand for rubber chemicals in the growing building & construction sector.
Trade disputes and tariff changes between countries disrupt the flow of rubber chemicals and rubber products across borders. Uncertainty in global trade can impact market dynamics. The development of alternative materials, such as synthetic rubbers, thermoplastic elastomers, and bio-based materials, poses a threat to the traditional rubber chemicals market. Manufacturers of rubber products and rubber chemicals face product liability claims in cases of product failures, which result in legal and financial challenges. These factors restrain the growth of Rubber chemicals in the market.
Factors such as increase in disposable income, technological upgrades, and rise in original equipment manufacturers (OEMs) have led the automotive sector to witness significant growth. For instance, according to a report published by India Brands Equity Foundation, domestic automobile production increased by a compound annual growth rate (CAGR) of 2.36% from 2016 to 20 with 26.36 million vehicles being manufactured in India in 2020.
Electric vehicles (EVs) and autonomous vehicles often require specialized rubber compounds to meet unique performance and durability requirements. This shift in the automotive industry creates opportunities for rubber chemical suppliers. In addition, the continued growth of the automotive industry, including the shift toward electric vehicles (EVs) and hybrid vehicles, presents opportunities for specialized rubber compounds and chemicals used in tires and other automotive components. These factors together are anticipated to foster the growth of the composites market during the forecast period.
The rubber chemicals market is segmented into type, application, and region. By type, it is categorized into anti-degradants, accelerators, rubber flame retardants, processing aids, and others. By application, it is segregated into tire application and non-tire application. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Rubber chemicals are a group of chemicals and additives used in the production and processing of rubber materials. These chemicals have various functions and are essential for achieving desired properties in rubber products, including elasticity, durability, strength, and resistance to environmental factors.
Surge in population base has led to rapid urbanization in both developed and developing economies such as the U.S., China, and India. This has increased government spending on the building & construction sector to develop various upcoming infrastructure projects. For instance, according to a report published by the National Investment Promotion and Facilitation Agency, infrastructure activities accounted for 13% share of the total foreign direct investment (FDI) inflows in 2021. Furthermore, rapid development of water supply, sanitation, urban transport, schools, and healthcare aid in the growth of the building & construction sector. The construction and infrastructure sectors use rubber products such as conveyor belts, seals, and insulation materials. The growth of infrastructure projects, including roads, bridges, and buildings, drives the demand for rubber products and, consequently, rubber chemicals. These factors are anticipated to fuel the demand for rubber chemicals in the growing building & construction sector.
Trade disputes and tariff changes between countries disrupt the flow of rubber chemicals and rubber products across borders. Uncertainty in global trade can impact market dynamics. The development of alternative materials, such as synthetic rubbers, thermoplastic elastomers, and bio-based materials, poses a threat to the traditional rubber chemicals market. Manufacturers of rubber products and rubber chemicals face product liability claims in cases of product failures, which result in legal and financial challenges. These factors restrain the growth of Rubber chemicals in the market.
Factors such as increase in disposable income, technological upgrades, and rise in original equipment manufacturers (OEMs) have led the automotive sector to witness significant growth. For instance, according to a report published by India Brands Equity Foundation, domestic automobile production increased by a compound annual growth rate (CAGR) of 2.36% from 2016 to 20 with 26.36 million vehicles being manufactured in India in 2020.
Electric vehicles (EVs) and autonomous vehicles often require specialized rubber compounds to meet unique performance and durability requirements. This shift in the automotive industry creates opportunities for rubber chemical suppliers. In addition, the continued growth of the automotive industry, including the shift toward electric vehicles (EVs) and hybrid vehicles, presents opportunities for specialized rubber compounds and chemicals used in tires and other automotive components. These factors together are anticipated to foster the growth of the composites market during the forecast period.
The rubber chemicals market is segmented into type, application, and region. By type, it is categorized into anti-degradants, accelerators, rubber flame retardants, processing aids, and others. By application, it is segregated into tire application and non-tire application. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rubber chemicals market analysis from 2022 to 2032 to identify the prevailing rubber chemicals market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the rubber chemicals market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global rubber chemicals market trends, key players, market segments, application areas, and market growth strategies.
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- Product Life Cycles
- Supply Chain Analysis & Vendor Margins
- Upcoming/New Entrant by Regions
- Patient/epidemiology data at country, region, global level
- Strategic Recommedations
- Market share analysis of players at global/region/country level
- Product Consumption Analysis
Key Market Segments
By Type
- Anti-degradants
- Accelerators
- Rubber Flame Retardants
- Processing aids
- Others
By APPLICATION
- Tire Application
- Non-Tire Application
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- The Chemours Company
- Finornic Chemicals (India) Pvt. Ltd
- Rao Group
- Ganpati Exim Pvt Ltd
- Polmann India Ltd
- Seya Industries Ltd
- Assochem
- LIONS INDUSTRIES
- NOCIL LIMITED
- Vagmi Chemicals Pvt Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RUBBER CHEMICALS MARKET, BY TYPE
CHAPTER 5: RUBBER CHEMICALS MARKET, BY APPLICATION
CHAPTER 6: RUBBER CHEMICALS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the rubber chemicals market was valued at $5.4 billion in 2022, and is estimated to reach $8.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.Rubber chemicals are a group of chemicals and additives used in the production and processing of rubber materials. These chemicals have various functions and are essential for achieving desired properties in rubber products, including elasticity, durability, strength, and resistance to environmental factors.
The tire industry is highly globalized, with manufacturers exporting tires to various countries. The expansion of international trade and the pursuit of global markets have contributed to industry growth. Advancements in tire materials, such as silica compounds and other high-performance materials, have led to the production of longer-lasting, more fuel-efficient, and safer tires, encouraging consumers to invest in new tires. Thus, it has increased the potential demand for rubber chemicals. Stricter environmental regulations have led to the development of more fuel-efficient and eco-friendly tires. As consumers and governments become more environmentally conscious, tire manufacturers invest in R&D to meet these requirements. Changes in consumer preferences, such as a preference for SUVs and trucks, which often require larger and more robust tires, have driven demand in certain segments of the tire market.
Trade disputes and tariff changes between countries disrupt the flow of rubber chemicals and rubber products across borders. Uncertainty in global trade can impact market dynamics. The development of alternative materials, such as synthetic rubbers, thermoplastic elastomers, and bio-based materials, poses a threat to the traditional rubber chemicals market. Manufacturers of rubber products and rubber chemicals face product liability claims in cases of product failures, which result in legal and financial challenges. some of the rubber chemicals, particularly those used in vulcanization and tire production, pose health and safety risks to workers. Exposure to these chemicals leads to skin and respiratory issues, making proper safety measures crucial. In addition, compliance with environmental and safety regulations is expected to be a significant challenge for rubber chemical manufacturers during the forecast period. Meeting stringent regulatory requirements needs significant investment and resources. These factors are projected to restrain the market expansion during the forecast period. These factors restrain the growth of rubber chemicals in the market.
Factors such as increase in disposable income, technological upgrades, and rise in original equipment manufacturers (OEMs) have led the automotive sector to witness significant growth. For instance, according to a report published by India Brands Equity Foundation, domestic automobile production increased by a compound annual growth rate (CAGR) of 2.36% from 2016 to 20 with 26.36 million vehicles being manufactured in India in 2020. Electric vehicles (EVs) and autonomous vehicles often require specialized rubber compounds to meet unique performance and durability requirements. This shift in the automotive industry creates opportunities for rubber chemical suppliers.
In addition, the continued growth of the automotive industry, including the shift toward electric vehicles (EVs) and hybrid vehicles, presents opportunities for specialized rubber compounds and chemicals used in tires and other automotive components. With surge in demand for rubber products in various industries, such as automotive, construction, and industrial manufacturing, there is a parallel increase in the need for rubber that withstand degradation over time. Anti-degradants help extend the lifespan and performance of rubber materials. Anti-degradants play a crucial role in the automotive industry, where rubber components such as tires, hoses, and seals are exposed to harsh environmental conditions. As the automotive industry continues to expand, the demand for anti-degradants in rubber compounds also increases. The tire industry is a major consumer of anti-degradants. These factors together are anticipated to foster the growth of the composites market during the forecast period.
The rubber chemicals market is segmented into type, application, and region. By type, it is categorized into anti-degradants, accelerators, rubber flame retardants, processing aids, and others.
By application, it is segregated into tire application and non-tire application. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their hold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
The report covers the strategies adopted by key players in the market to sustain the competitive environment and increase their market share. The key players operating in the global rubber chemicals market are Seya Industries Ltd., NOCIL LIMITED, Chemours Company, Polmann India Ltd., Rao Group, Vagmi Chemicals Pvt Ltd., PUKHRAJ ZINCOLET, Finornic Chemicals (India) Pvt. Ltd., Assochem, Ganpati Exim Pvt Ltd. In addition, the market drivers, restraints, and opportunities are explained in the report.
Companies Mentioned
- The Chemours Company
- Finornic Chemicals (India) Pvt. Ltd
- Rao Group
- Ganpati Exim Pvt Ltd
- Polmann India Ltd
- Seya Industries Ltd
- Assochem
- LIONS INDUSTRIES
- NOCIL LIMITED
- Vagmi Chemicals Pvt Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 401 |
| Published | October 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 5.4 billion |
| Forecasted Market Value ( USD | $ 8.4 billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
