Global Rubber Additives Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
The global rubber additives market has been expected to grow at the CAGR of 7.2% and will contribute $5600 million till 2022. The global rubber additives market is growing with the increasing applications of rubber in distinguished field. Rubber is a material which is used in many applications like tires in automobiles, footwear industries and so on. The rubber additives are the chemicals added during the manufacturing process of rubber polymers. The additives are used in rubber to enhance its quality like improved resistance to sunlight, heat, ozone and mechanical stress. Automobiles sector is the major end user of rubber products globally.
There are many reasons for the growth of rubber additives market such as rising number of automobiles, footwear and consumer goods industries. Automobiles sector is growing faster with an impressive CAGR owing to rise in demand for 2 and 4 wheelers with rising population is the key factor for the growth of rubber additive industry. As automobiles mainly requires the rubber for manufacturing of tires. There are end number of applications of rubber like it is used in making soles of shoes, used in tape manufacturing which is acts as a thermal insulation material and so on.
Geographically the market has been segmented into the North America, Asia Pacific, Europe and Rest of the World. Asia Pacific is the fastest growing rubber additives market in terms of global demand. The major reasons for the growth of this market is growth of rubber manufacturing and automobiles industries. China is the leader in Asia Pacific region owing to population growth, increasing demand for rubber in automobiles and other sectors etc. India & Japan are also growing countries in the region. Vietnam is expected to have emerging market of global rubber additives market in the forecasted year, due to shifting trends of rubber manufacturing from China. U.S is the major market for rubber additives in this region. Demand for industrial and automobiles sector in this country has been driving the global rubber additives market. Growth in Europe is declining due to stringent environmental regulations and policies in spite of being the biggest automobiles manufacturing countries. European Union imposes several laws, rule and regulations to save environment.
Some of the major market players are BASF SE, Velox GmBh, China Petroleum & Chemical Corporation, Lanxess AG, Thomas Swan & Co. Ltd., Struktol Company of America, LLC, Akrochem Corporation, Eastman Chmical company, Behn Meyer Holding AG, etc. Acquisition, mergers and expansions are the key strategies adopted by the market players to sustain in the market.
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1. AKROCHEM CORPORATION 2. AKZONOBEL N.V. 3. ARKEMA S.A. 4. BEHN MEYER HOLDING AG 5. EASTMAN CHEMICAL COMPANY 6. LANXESS AKTIENGESELLSCHAFT 7. STRUKTOL COMPANY OF AMERICA, LLC. 8. THOMAS SWAN & CO. LTD. 9. VELOX GMBH 10. WACKER CHEMIE AG 11. BASF SE 12. AKZONOBEL N.V 13. LANXESS AG 14. SOLVAY SA 15. CHINA PETROLEUM & CHEMICAL CORPORATION (SINOPEC CORP.)