Rubber Accelerators Market Expansion Projected to Gain an Uptick during 2019 – 2029
In addition, presence of key market players along with their initiatives for increasing the rubber accelerators production also tends to strengthen East Asia and South Asia market growth. Furthermore, Europe is expected to follow East Asia and South Asia in the global rubber accelerators market in terms of revenue. Moreover, North America is expected to hold a significant market share till 2028 owing to wide adoption of rubber across pharmaceutical and automotive industry coupled with the presence of various key players of the Rubber Accelerators Market.
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Rubber accelerators are chemicals used in the process of rubber vulcanization. Vulcanization refers to the process of improving rubber strength and elasticity through heating in the presence of sulphur. Further, a rubber accelerator is used to increase the speed of vulcanization along with allowing vulcanization to occur at lower temperatures with greater efficiency. Rubber accelerators market is of interest to a wide audience as rubber is adopted across various industries including automotive, industrial, pharmaceutical, consumer goods and others. The global rubber accelerators market is expected to witness a single digit CAGR over the forecast period of 2019-2029. Increasing rubber production across the globe and rapidly growing application industries are some of the major factors propelling the market growth over the forecast period. However, fluctuating raw material prices is one of the restraining factors of the market over the forecast period.
Increasing rubber production across the globe signifies high adoption of vulcanized rubber across various industries. This, in turn, urges the demand for rubber accelerators as these chemicals accelerate the process of vulcanization. According to Association of Natural Rubber Producing Countries (ANRPC), 13 member countries including India, China, Indonesia, Malaysia, Philippines, Singapore, Sri Lanka and others accounted for 91 percent of the global rubber production in 2017. Furthermore, the rubber production is projected to increase in the future years owing to high demand from automotive, pharmaceutical and consumer goods industries. In addition, as per Business Financial Articles, the top 5 rubber producing countries are Thailand, Indonesia, Malaysia, India and Vietnam. Rising automotive industry also tends to create wide adoption opportunities for rubber accelerators that, in turn, drives the global market. As per OICA (International Organization of Motor Vehicle Manufacturers), Paris, the total cars and commercial vehicle production in 2016 was recorded to be around 72.1 million that further escalated up to 73.4 million in 2017. Furthermore, growing construction industry also drives the rubber accelerators market. According to Institution of Civil Engineers, UK, a report “Global Construction Perspectives and Oxford Economics” suggests that the global construction market is expected to reach US$ 8 trillion by the end of 2030. Also, China, India and United States will lead the industry by accounting for about 57% of the global construction industry growth.
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The global rubber accelerators market is segmented into six regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa (MEA). Among the above-mentioned regions, East Asia and South Asia accounted for a majority of the market share under the global Rubber accelerators market owing to high adoption of Rubber accelerators within various end-user industries.
Prominent players in the global rubber accelerators market are LANXESS AG, Eastman Chemical, Arkema, Shandong Yanggu Huatai Chemical, Puyang Willing Chemicals, Agrofert etc. The rubber accelerators market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Rubber accelerators market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Rubber accelerators market report provides analysis and information, according to market segments such as geographies, type and form.
The Rubber accelerators report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Rubber accelerators report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Rubber accelerators report also maps the qualitative impact of various market factors on market segments and geographies.
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