According to the research report, the global rubber additives market was valued at USD 7.90 billion in 2021 and is expected to reach USD 10.84 billion by 2030, to grow at a CAGR of 3.6% during the forecast period.
The report Rubber Additives Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032 gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for the product has increased owing to rising industrialization and urbanization. Growing applications in the construction industry and the development of public infrastructure have also boosted the industry’s growth. However, the COVID-19 outbreak has negatively impacted the industry owing to interrupted supply chains, operational inefficiencies, and transportation delays.
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Asia-Pacific is expected to grow at a significant rate during the forecast period. Strengthening the automotive sector supports industry growth in this region. Increasing application in the construction sector, greater demand for electronics and semiconductors, and rising adoption of electric vehicles fuel growth in this region.
Several international players are entering this region to leverage the availability of raw materials and labor offered by these countries. The automotive segment dominated the industry in 2021. Greater demand for passenger vehicles, modernization of vehicles, and the need for high tire performance drive the growth of this segment. The growing need to reduce weight in automobiles for increased performance, technological advancements, and rising investments are factors expected to offer growth opportunities during the forecast period. The rising demand for technologically advanced luxury vehicles and the adoption of vehicular safety standards has further accelerated the demand for the product.
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The anti-degradants segment accounted for a significant share in 2021. Anti-degradants offer protection against constant exposure to heat and oxygen, thereby enhancing the performance of products. Greater demand for anti-degradants in the manufacturing of rubber additives products to offer improved safety, durability, and resistance to external influences boosts the growth of this segment.
Rubber Additives Market Report Highlights
- Anti-degradants segment accounted for a significant share owing to greater use in tire manufacturing.
- Tires contributed to major revenue share in 2021 owing to demand for passenger vehicles, modernization of vehicles, and need for greater tire performance.
- The automotive segment held the largest share. Growth in automotive production volume and increasing need for high performing and fuel-efficient vehicles supports the growth of this segment.
- Asia-Pacific dominated the global market on account of increasing economic growth, rising application in construction and electronics sectors, and greater adoption of electric vehicles.
- The industry is highly competitive owing to the existence of large industry players with global presence including Akrochem Corporation, Akzo Nobel N.V., Arkema S.A., BASF SE, and Celanese Corporation.
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Rubber Additives, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Antidegradants
- Activators
- Plasticizers
- Vulcanization Inhibitors
- Accelerators
- Others
Rubber Additives, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Tires
- Electric Cables and Hoses
- Conveyor Belts
- Specialty Tapes
- Others
Rubber Additives, End-Use Industry Outlook (Revenue – USD Billion, 2018 – 2030)
- Automotive
- Electronics and Semiconductors
- Construction
- Industrial
- Healthcare
- Others
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