Rubber Additives Market worth 4.8 Billion USD by 2020
The report “Rubber Additives Market by Type (Accelerators, Antidegradants, and Others), Application (Tire and Non-Tire) & by Region (North America, Europe, Asia-Pacific, and RoW) – Global Trends & Forecast to 2020″ , defines and segments the rubber additives market with an analysis and forecast of the rubber additives market size by value. The rubber additives market size by value is projected to reach USD 4.8 Billion by 2020, with a CAGR of 5.4% between 2015 and 2020.
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Browse 76 market data Tables and 42 Figures spread through 122 Pages and in-depth TOC on “Rubber Additives Market”
Automobile segment to boost the demand for rubber additives
The rubber additives market is mainly driven by the growth in the demand for automobiles. Rubber additives are used to enhance the properties of rubber used in the manufacture of tires. With the growing population and increased spending by the consumers, the demand for automobiles has increased which in turn has led to the increased demand for rubber additives. These chemicals add superior qualities to the rubber.
However, the growing environmental concerns and the stringent governmental regulations are the biggest restraints of the rubber additives market. The processing of natural rubber yields effluents into the air that pollute the environment. The wastewater discharged form rubber processing contains high level of biological oxygen demand compounds. These compounds are biodegradable and lead to high oxygen consumption.
Below chart represents the rubber additives market by region in 2015 and 2020.
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Asia-Pacific to drive the rubber additives market
Asia-Pacific is the fastest-growing market for rubber additives. The growth in the Asia-Pacific region is primarily driven by the increasing domestic demand and rising exports of natural rubber to the western markets. The increasing demand for rubber additives from the tire industry is further driving the market in this region. The economic development in the region has led to the increased demand for vehicles, which in turn drives the market for rubber additives.
The leading players in the market include Emerald Performance Materials (U.S.), Eastman Chemical (U.S.), Lanxess Corporation (Germany), and Arkema SA (France) among several others.
The report covers the rubber additives market and its trends concerning four regions, namely, North America, Europe, Asia-Pacific, and RoW. The types, such as antidegradants, accelerators, and others are covered. The applications of rubber additives along with their estimated market revenues and consumption trends are included.