The global rubberprocessing chemicals market featuresa fairly competitive landscape, notes Transparency Market Research (TMR). Thetop four players—BASF SE, Lanxess Aktiengesellschaf, Akzo Nobel N.V., andEastman Chemical Company—accounted a combined share of nearly 41% in2015. Leading players are likely to retain their dominance on account oftheir wide product portfolio and a robust geographic reach. Some of the otherprominent manufacturers in the rubber processing chemicals are EmeraldPerformance Materials, Solvay, Merchem Limited, China Petroleum & ChemicalCorporation, and Sumitomo Chemical Company.
TMRobserves that relentless efforts by market players to bring product innovationswill lead to intense degree of competition in the rubber processing chemicalsmarket in the coming years. The entry of regional players in recent years andtheir focus on high-performing rubber processing chemicals will offer stiffcompetition to the incumbent players.
Theglobal rubber processing chemicals market stood at a revenue worth of US$3.4billion in 2015. Rising at 4.7% CAGR during 2016–2024, the global market isprojected to touch a valuation of US$5.1 billion by 2024 end.
Amongthe broad applications types, the demand for rubber processing chemicals inmaking tires is by far the dominant and it accounted for a whopping shareexceeding 70% in 2015 in the global market. The demand for these inmanufacturing tires is likely to rise at substantial pace driven by the vaststrides being witnessed in the manufacturing of new vehicles. The use of thesechemicals enhances the functionality of rubber tires.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3806
Ofall the key regional markets for rubber processing chemicals, Asia Pacific heldthe major share in 2015 amounting to 62%. A thriving demand for rubberprocessing chemicals in the automotive and construction industries isbolstering the regional market growth, especially witnessed in emergingeconomies.
BurgeoningDemand in Tires and Non-Tires Applications accentuate Growth
Therubber processing chemicals is primarily driven by the burgeoning demand forthese chemicals for tires and non-tires applications in a range of industries,including the construction, electric and electronics, aerospace, medical, andfootwear production. The rapid strides taken by these industries is broadlycontributing to the expansion of the overall market.
More Trending Reports
Thegrowing use of rubber processing chemicals for tire manufacturing in theautomotive industry is a notable factor boosting the market. The demand isincreasingly catalyzed by the staggering sales of automobile sales in variousparts of the world. The demand for rubber processing materials is notablybolstered by their use in making a variety of building and constructionmaterials. The chemicals are extensively used in making sealants, insulatingagents, roofing materials, and floor coverings. The versatility of use ofrubber is key to underpinning the expansion of the rubber processing chemicalsmarket.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=3806<ype=S
EnvironmentalToxicity of Some Chemicals may be Setback to their Demand
Thesteady growth of the rubber processing chemicals market is also suffering fromcertain setbacks. The toxicity of some of the rubber processing chemicals mayhinder their demand in some end-use industries. Concerns related to the adverseimpacts of these chemicals on the environment are expected to hamper theirdemand in various parts of the world. This is backed by government regulationsin some countries.
Nevertheless,the market will face favorable trends from the rising efforts by manufacturersto explore new chemicals for rubber processing. Moreover, a burgeoningautomotive industry, coupled with the rising disposable incomes, is a crucialtrend expected to catalyze the market growth over the assessment period.
Request Covid19 analysis on this market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=3806
About Us
Transparency Market Research (TMR) is a market intelligencecompany, providing global business information reports and services. Ourexclusive blend of quantitative forecasting and trends analysis providesforward-looking insight for thousands of decision makers. TMR’s experiencedteam of analysts, researchers, and consultants, use proprietary data sourcesand various tools and techniques to gather, and analyze information. Ourbusiness offerings represent the latest and the most reliable informationindispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector -such as pharmaceuticals, chemicals, energy, food & beverages,semiconductors, med-devices, consumer goods and technology. These reportsprovide in-depth analysis and deep segmentation to possible micro levels. Withwider scope and stratified research methodology, TMR’s syndicated reportsstrive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
