Zion Market Research has published a new report titled, “Rubber Processing Chemicals Market (Flame Retardants, Anti-Degradants, Processing Aid and Accelerators) for Non-Tire and Tire Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021.”
According to the report, the global rubber processing chemicals market was valued at over $3.71 billion in 2015, is expected to reach above $5.10 billion in 2021, and is anticipated to grow at a CAGR of slightly above 5.2 percent between 2016 and 2021.
Asia Pacific held the largest market share in 2015, and was considered to be the highest revenue generating region for the rubber processing chemicals market.
This is mainly contributed by increasing demand for rubber processing chemicals from India and China. China accounted for the highest market share across the globe owing to the growing rubber industry in this region.
Moreover, growing industrialization in Asia Pacific is anticipated to fuel the growth of the rubber processing chemicals market in the coming years.
The rubber industry is immensely building its root over Asia Pacific, therefore strengthening the growth of the rubber processing chemicals market.
Europe and North America were the foremost markets for the rubber processing chemicals market in 2015, and Europe is predicted to witness significant growth over the coming years.
However, stringent rules led by the government of North America on rubber processing may impede the growth of the rubber processing chemicals market in this region.
Increasing demand for rubber processing chemicals in Germany owing to its various end-user applications such as in the automobile industry may spur the growth of rubber processing chemicals in Europe.
Increasing research and development expenditure for rubber processing chemicals due to regulations imposed by government and intense competition due to the presence of various vendors and substitute products is expected to boost the rubber processing chemicasl market in the coming years.
Latin America, Middle East and Africa are likely to experience decent growth over the coming years.
This is mainly attributed to the growing automobile industry and industrialization in Brazil. The escalating rubber industry in the Middle East and Africa is anticipated to witness growth for the rubber processing chemicals market in the forecast period. Some of the global major players in the rubber processing chemicals are R.T. Vanderbilt Company, Inc, Emerald Performance Materials, Lanxess Corporation, Chemtura Corporation, Solvay SA, Eastman Chemical Company, Emery Oleochemicals LLC, Behn Meyer Group, Akzonobel N.V., and China Petroleum & Chemical Corporation. - Rubber World -