PUBLISHER: The Business Research Company | PRODUCT CODE: 1436655
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436655
Rubber additives are substances used in the production of elastic materials derived from the milky juice of tropical plants. These additives, often isoprene polymers in sheet form, are dried to enhance their performance or aid in processing.
The primary types of rubber additives consist of activators, accelerators, vulcanization inhibitors, plasticizers, and other variations. Activators, both inorganic and organic, initiate the action of accelerators and find applications in tires, non-tires, and industries such as automotive, consumer goods, construction, and electrical insulation.
The rubber additives market research report is one of a series of new reports from The Business Research Company that provides rubber additives market statistics, including global market size, regional shares, competitors with a rubber additives market share, detailed rubber additives market segments, market trends and opportunities, and any further data you may need to thrive in the rubber additives industry. This rubber additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rubber additives market size has grown strongly in recent years. It will grow from $5.6 billion in 2023 to $6.1 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historic period can be attributed to the growth of the automotive industry, expansion in tire manufacturing, increased industrial and manufacturing activities, a rising construction sector, and the effects of globalization and trade.
The rubber additives market size is expected to see strong growth in the next few years. It will grow to $8.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to a focus on sustainable and eco-friendly solutions, urbanization and infrastructure development, advancements in rubber technology, increased usage in non-tire applications, and adherence to regulatory compliance and quality standards. Major trends expected in the forecast period include a shift towards bio-based and sustainable additives, increased utilization of processing aids, a growing demand for flame retardant additives, a focus on anti-foaming agents, and innovations in colorants and pigments.
The rubber additives market is set to grow with the increasing demand for high-performance rubber. High-performance rubber, capable of withstanding harsh environmental conditions, is in demand. The Association of Natural Rubber Producing Countries (ANRPC) reports a 5.8% increase in global rubber consumption in 2022. This heightened demand for high-performance rubber is a driving factor for the rubber additives market.
The rubber additives market is anticipated to grow with the increasing demand for the automotive industry. Rubber additives play a crucial role in enhancing the performance, durability, and safety of rubber-based components in vehicles. The European Automobile Manufacturers Association reports a notable increase of 5.7% in global production of motor vehicles, reaching 85.4 million units in 2022. Additionally, Brand Finance plc notes a substantial 10% increase in automobile sector unit sales in 2022. The growing demand for the automotive industry is a key factor driving the rubber additives market.
Major companies are directing their efforts toward innovative products such as TP 1862 and LP21-103 to meet the demand for sustainable and high-performance solutions in rubber-to-metal bonding. Bruggemann, a Germany-based chemicals company, introduced a technology featuring TP 1862 and LP21-103. This combination eliminates the need for resorcinol and cobalt salt in rubber-to-metal adhesive, offering a sustainable and high-performance solution for various industries.
Major players in the rubber additives sector are embracing a strategic partnership approach to deliver essential communication services and sustainable, high-performance solutions for the industry. In December 2021, Cabot Corporation, a US-based chemicals company, forged a partnership with International Flavors & Fragrances Inc. (IFF), a US-based manufacturing company. This collaboration aims to develop and commercialize sustainable reinforcing additives for rubber products, including tires, belts, hoses, gaskets, and automotive weatherstrips.
In August 2021, Lanxess AG, a Germany-based specialty chemicals company, purchased Emerald Kalama Chemicals for $425 million. This acquisition strengthened Lanxess's dominant position in the preservatives industry, with the new products finding applications in high-growth sectors such as food and beverage, detergents, fabric softeners, cosmetics, and personal care items. Emerald Kalama Chemical BV, based in the Netherlands, is a manufacturer of rubber additives.
Major companies operating in the rubber additives market report are China Petroleum & Chemical Corporation, BASF SE, MLPC International, Sumitomo Chemical Co. Ltd., Toray Industries Inc., Solvay S.A., Arkema S.A., Akzo Nobel N.V., Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Lanxess AG, Kraton Corporation, Emery Oleochemicals LLC, Behn Meyer Group, China Sunsine Chemical Holdings Limited, Emerald Performance Materials LLC, Peter Greven GmbH & Co. KG, Rhein Chemie GmbH, Akrochem Corporation, King Industries Inc., Vanderbilt Chemicals LLC, R.T. Vanderbilt Holding Company Inc., Thomas Swan & Co. Ltd., Struktol Company of America, Prisma Rubber Additives Ltd., Performance Additives LLC, Nocil Limited, Kemai Chemical Co. Ltd., Addivant USA LLC, Albemarle Corporation, Cabot Corporation, Chemtura Corporation, Clariant AG, Croda International PLC, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc., PMC Group Inc.
Asia-Pacific was the largest region in the rubber additives market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the rubber additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the rubber additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rubber additives market consists of sales of rubber additives such as fillers and curing agents. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Rubber Additives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rubber additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rubber additives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rubber additives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.