Global Rubber Additives Market - 2022-2029

Global Rubber Additives Market - 2022-2029
Market Overview

The Rubber Additives Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 3.70% during the forecast period (2022-2029).

Rubber additives are a collective term for various fine chemical products that are added as natural or synthetic rubber and processed into rubber products. Rubber additives are used to give rubber products performance, guarantee their usefulness and enhance the throughput of rubber compounds.

In the rubber industry, rubber additives are crucial auxiliary raw materials. Rubber additives are crucial for advancing rubber processing techniques, reducing energy consumption and raising product quality. Although additives are used relatively in small amounts in the rubber industry, they are crucial to improving the product's performance during processing and application.

Market Dynamics

Increasing demand for rubber in various end-user verticals is a major market driver for the respective market. Nonetheless, growing environmental awareness and stringent laws restrain the market's growth.

Increasing demand for rubber in various end-user verticals

The market for rubber additives is driven by the automotive industry's rising demand for the highest caliber processed rubber, as can be easily understood. The demand for cars is rising due to the expanding population and rising consumer spending power. Due to the need to improve the properties of rubber, which is used to make automotive tires, this, in turn, drives the market for rubber additives.

But there is also a significant increase in the demand for rubber additives in non-tire applications. Wipers, shoes, rubber goods, rubber mats, automotive body parts, insulation, conveyor belts and rubber insulation tapes are a few examples of non-tire applications for rubber additives. Additionally, the market for rubber additives is driven by the growing demand for high-quality rubber products. The Asia-Pacific region's developing countries, especially China and India, are rapidly industrializing, increasing the demand for rubber goods even further.

Growing environmental awareness and associated stringent laws

The International Agency on Research for Cancer report states that the rubber manufacturing industry has contributed significantly to air pollution. During the heating and formation of latex sheets, this industry essentially introduces unwanted latex fumes into the atmosphere. Further, numerous different chemicals are included in rubber formulations, with each one being added with a specific purpose in mind. There are numerous rules that rubber chemists must abide by because creating rubber compounds is such a special process. The European Union Medical Device Regulations (EUMDR), International Material Data System (IMDS), EPA, REACH, IPC 1752, Proposition 65 and other regulations are among the most important ones that have been put in place. As a result, the market for rubber additives is also restricted by the strict rules and regulations established by the government. The environment is also harmed by the emission of pollutants and gases released during rubber manufacture. As a result, any restrictions placed on this activity could impede market expansion.

COVID-19 Impact Analysis

Like any other market, the global rubber additives market was negatively impacted by COVID-19's initial waves, but the pandemic's overall effect was only moderate. Rubber additive production has been hampered by the need for skilled labor, large-scale industrial reagents and heavy machinery for the industrial-scale synthesis of rubber additives. Production was severely hampered during the pandemic by industry curfews and the need for social isolation. The COVID-19 pandemic's global lockdown also severely hampered the supply of raw materials needed to make rubber additives and finished goods. The demand-supply dynamics of the rubber additives market were severely impacted.

Since the automotive, construction and related industries use rubber additives most frequently. Lockdowns and a lack of access to raw materials in these industries decreased overall activity in these end-use sectors, decreasing market demand for chlorinated rubber. The global market for rubber additives has, however, grown incredibly since the restrictions were lifted. The anticipated growth of the automotive and tire industries in the post-COVID-19 environment further stimulates the market.

Segment Analysis

The global rubber additives market is classified based on type, material, coating agents, application, end-user and region.

The growing demand for automotive wheels and materials and technological developments in the respective field

Rubber additives are frequently utilized in the production of rubber and related goods. The global market for rubber additives has been driven by the rising demand for rubber in tire manufacturing in the automotive industry. China produces over 800,000 tonnes of natural rubber annually, making it one of the world's top producers. Rubber additives have a potential market in China because they treat both natural and synthetic rubber.

Further, China approved two projects involving sophisticated synthetic rubber. The Technical License Contract for TBIR and Integrated Rubber was formally signed by Shandong Yulong Petrochemical Co. Ltd. and the Petrochemical Research Institute of CNPC. Butadiene and isoprene are copolymers in the rubber known as TBIR. It is an artificial rubber that China has not yet industrialized. Rubber additives have a wide range of industrial applications, including high-performance tires, low-temperature parts and sealing materials needed by the military industry.

Geographical Analysis

The growing automotive market in Asia-Pacific boosts the region’s rubber additives market

Asia-Pacific is the largest market for rubber additives, followed by Europe and North America. The rubber additives market is anticipated to increase, expected to drive the growth of automotive vehicles and high production in China and Japan. India, Malaysia, Thailand and Indonesia are the top five rubber producers globally. During this period, the rubber additives market is anticipated to grow due to more stringent regulations on the region's carbon emissions and fuel efficiency. According to analysis, China dominated the Asia-Pacific passenger car production sector, producing a staggering 19.97 million passenger cars, followed by India. Japan generated an impressive 6.95 million passenger cars in 2020.

The second-largest rubber additives market is in Europe due to Germany's massive automotive industry. Due to fierce competition from Chinese producers, European manufacturers are forced to produce high-tech goods. In addition, the region's Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) laws have forced the manufacturers of rubber additives to create environmentally friendly products.

Competitive Landscape

The global rubber additives market is highly dynamic regarding global and local producers' numbers and strengths. The market is fragmented due to numerous large-scale manufacturers such as Akrochem Corporation, Akzo Nobel N.V., Arkema, BEHN MEYER, Eastman Chemical Company, BASF SE, Thomas Swan & Co. Ltd., LUMITOS AG, Wacker Chemie AG and Solvay. Pivotal market stakeholders employ tactics like mergers, acquisitions, product launches, contributions and collaborations to gain competitive advantages and recognition in their respective markets.

BASF SE

Overview: A multinational chemical manufacturer, BASF SE, makes chemicals for various industries. With more than 700,000 shareholders, it is one of the biggest publicly traded companies. The business has divided its product line into 13 categories. The company sells its goods in 16 different industries, including transportation, chemicals, construction, electronics and electric, energy and resources, furniture and wood, home care and cleaning, agriculture and other industries. Ludwigshafen is home to more than 30 Group companies owned by BASF SE. Located in more than 90 countries, BASF SE has 6 verbund sites and 241 additional production sites.

Product Portfolio:
• Koresin: A tackifier, the product offers superior tack performance, dependability, high quality, processing flexibility and uniformity. It is interoperable with all existing rubber formulations and gives rubber compounds a high initial and long-lasting tackiness. Koresin enables tackiness adjustment in accordance with processing requirements, providing consistent tack at all desired levels. In the production of high-quality and premium tires for OEM, replacement and retreading, as well as for industrial and technical rubber goods, koresin is successfully used.

Key Development:
• BASF SE announced a price increase for antioxidant additives used in elastomer/rubber applications on March 14, 2022. Due to the significantly increased cost of stearyl alcohol and logistics, the price has been adjusted.

Why Purchase the Report?
• To visualize the global rubber additives market segmentation based on type, material, coating agents, application, end-user and region, as well as understand key commercial assets and players.
• Identify global rubber additives market commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of rubber additives market-level with four segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players

The global rubber additives market report would provide approximately 77 tables, 92 figures and almost 220 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies