The Global Rubber Processing Chemicals Market Is Driven By Increasing Vehicle Production Latex Concentrates
Rubber processing chemicals play a vital role in manufacturing rubber products by enhancing certain qualities in the final products. For example, rubber accelerators are added to control the vulcanization process and improve physical properties like strength and elasticity in tires and other rubber products. Antidegradants help prevent rubber products from deterioration when exposed to heat, light and oxygen. Similar functional agents are used as processing aids, adhesion promoters and extenders in the production of various rubber goods.
The global rubber processing chemicals market is estimated to be valued at US$ 6.39 BN in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period from 2024 to 2031. Rubber Processing Chemicals Market Size find widespread applications in the automotive industry for manufacturing tires, hoses and other automotive components. Growing vehicle production around the world is expected to drive market growth over the next few years.
Key Takeaways
Key players operating in the rubber processing chemicals are Lanxess, Solvay, Akzo Nobel N.V., BASF SE, Arkema, Eastman Chemical Company, R.T. Vanderbilt Holding Company, Inc., Behn Meyer, KUMHO PETROCHEMICAL, Paul & Company, China Petrochemical Corporation, Merchem Limited. These players are focused on developing innovative and sustainable rubber chemical solutions to enhance properties of the final products.
There is rapidly growing demand for various rubber goods like tires, hoses, belts, gaskets and seals across industries. In the automotive industry alone, nearly 3 billion tires are produced annually worldwide. This massive consumption of rubber products is fueling demand for processing chemicals.
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