Rubber Additives Market by Type (Antidegradants, Accelerators, and Others), Application (Tire, and Non-Tire), End-Use Industry (Automotive, Wire and Cable, Building and Construction, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 8.1 billion mark in 2022 and is expected to hit US$ 10.5 billion by 2030, recording a CAGR of 3.3% during the forecast period.
Rubber additives market has been significantly growing with the increasing demand from non-tire rubber applications.
Rubber additives are utilized in rubber industry for improvement of the resistance of rubber against the heat, sunlight, mechanical stress, and others. There are distinct types of rubber additives are antidegradants, accelerators, and processing aids. Antidegradants include phenylenediamine, phosphite, phenolic compounds, and other chemicals. The demand for rubber additives is estimated to increase owing to their high demand from the non-tire applications. The non-tire applications of rubber additives include rubber products, wipers, footwears, automotive parts, mining industry, rubber insulation tapes, insulations, conveyor belts, etc. The rapid industrialization in the developing nations leads to the increased demand for rubber products, along with the rising demand for better quality rubber products are expected to drive the rubber additives market. Improved use of non-tire rubber in automotive sector such as automotive guards, wipers, protection covers, etc. to minimize vehicle weight for fuel economy increases consumer demand for non-tire rubber.
Within the report, the market is segmented into source, application and geography. By type, the market is further divided into antidegradants, accelerators and others. On the basis of application, the market is segmented into tire and non-tire. Whereas, on the basis of end-use industry, the market is segmented into automotive, wire and cable, building and construction and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
The tire manufacturing industry extensively utilizes rubber. The rubber additives, such as fillers, are usually used to increase the stiffness of unvulcanized rubber. This helps to fabricate rubber with other components and reduces the overall energy required during fabrication. Moreover, household electrical insultation and industrial construction increase the demand for rubber additives. Oil extenders extensively use rubber additives to reduce the overall insulation costs. The rapid growth of the automotive industry has increased the demand for rubber additives in tire producing industry. These additives are used for improvement of rubber strength and performance.
Increase in innovations and developments in rubber and rubber additives industry.
The end users and rubber manufacturers are focused on innovating and developing novel rubber additives in order to maximize the performance of end products, providing lucrative opportunities. The industrial construction and residential electrical insulations are also expected to drive the rubber additives market. The development of new additives to produce high-performance rubbers that increase the durability of the end product is likely to act as an opportunity in the forecast period.
Recent strategic developments in Rubber additives market
The rubber additives market has undergone several significant developments, and a few of these have been mentioned below:
- In December 2020, Emery Oleochemicals announced a new distributor agreement with IMCD. IMCD Benelux represent Emery’s Green Polymer Additives business unit to distribute and provide technical support for Emery’s natural-based lubricants, release agents, antistatic- and antifogging agents, as well as their special plasticizers.
- In May 2020, Solutia, subsidiary of Eastman Chemical Company, completed its acquisition of Akzo Nobel N.V.'s 50% interest in Flexsys, one of the leading supplier of chemicals to the rubber industry.
The rubber additives market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Behn Meyer, China Petrochemical Corporation, Eastman Chemical Company and Sumitomo Chemical Co. Ltd. are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Rubber additives manufacturers
- Rubber additives-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Rubber additives suppliers
- Rubber additives distributors and sales firms
- End users of rubber additives
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- End-Use Industry:
- Wire and Cable
- Building and Construction
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled