Rubber Processing Chemicals Market To Reach $8.52 Billion By 2030

Rubber Processing Chemicals Market Growth & Trends

The global rubber processing chemicals market size is anticipated to reach USD 8.52 billion by 2030 and is projected to grow at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the growing demand for rubber products worldwide. The increasing production of vehicles and the rising trend of electric and autonomous vehicles is driving the demand for innovative components with improved performance. In addition, the construction industry's demand for rubber-based materials for roofing membranes and sealants is also contributing to market growth.

Technological advancements have significantly influenced the market, improving efficiency, product quality, and sustainability. The development of advanced mixing and extrusion technology has enabled manufacturers to produce compounds with improved properties and reduced processing times. Another technological trend in the market is adoption of sustainable and environmentally friendly practices. Environmental concerns and regulatory policies have pushed the industry to develop and implement greener solutions. For example, usage of bio-based compounds from renewable sources has gained ground. These compounds provide similar performance characteristics to traditional compounds while reducing dependence on petroleum-based raw materials.

Rubber processing generates large amounts of wastewater, which leads to serious health problems if left untreated. In addition, manufacturing processes, such as extrusion and die casting, lead to excess fatalities from hematopoietic, stomach, bladder, lung, and other cancers. As a result, some regulatory agencies, such as the New Source Performance Standards (NSPS) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), have strict regulations for using and handling chemicals and wastewater treatment from processing factories. Growing health and environmental concerns have led to the use of alternatives such as reinforced natural fibers made from processed vegetable oil plants and cellulose. For example, Japan's Yokohama Tire Corporation uses oil derived from modified natural rubber and orange peel to produce tires. These eco tires also have better grip when braking and cornering.

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Rubber Processing Chemicals Market Report Highlights

• Anti-degradants dominated the product segment with a 50.03% revenue share in 2023 owing to their increasing use in improving performance, heat resistance, and tensile strength of products across end-user industries

• The non-tire application segment is expected to grow at the fastest CAGR over the forecast period due to the diversification of applications around the globe

• Asia Pacific dominated the market owing to factors such as the presence of abundant raw materials as well as growth of end-user industries such as construction and automobiles in the region

• In January 2022, Sumitomo Rubber Industries announced a USD 128 million expansion of its tire manufacturing facility in Sheridan Drive from its current expanse of 55,000 square feet

Rubber Processing Chemicals Market Segmentation

Grand View Research has segmented the global rubber processing chemicals market based on product, application, and region:

Rubber Processing Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Anti-degradants

• Accelerators

• Flame Retardants

• Processing Aid/ Promoters

• Others

Rubber Processing Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Tire

• Non-Tire

Rubber Processing Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Rubber Processing Chemicals Market

• Lanxess

• Solvay

• Akzo Nobel N.V.

• BASF SE

• Arkema

• Eastman chemical company

• R.T. Vanderbilt Holding Company, Inc.

• Behn Meyer

• KUMHO PETROCHEMICAL

• Paul & Company

• China Petrochemical Corporation

• Merchem Limited