Global Rubber Additives Market Grows Steadily at a CAGR of 4.08%

Introduction

Rubber additives are added during the vulcanization process to impart strength and specific properties to the final product. Tires, wires and cables, insulation, tapes, gaskets, conveyor belts, and roll covers are just a few items that require rubber additives. The quantity of additives used to treat rubber impacts its quality. Each version serves a specific function that grants the desired quality to the final rubber product.

Market Dynamics

Growth in the Tire and Rubber Industry Drives the Global Market

The United States represents one of the world's largest and most developed tire markets by having some of the largest tire manufacturers, including Goodyear Tire and Rubber Co., Cooper Tire and Rubber Co., Michelin, and Bridgestone Americas Tire Operations. Over time, the U.S. rubber industry has grown significantly in size. The country continues to be a strong force in rubber consumption and a prominent producer and consumer of synthetic rubber (SR). In the upcoming years, it is expected that this tendency will persist. To encourage domestic production, the Indian government has put import limits on tires. The government has restricted imports of tires for cars, buses, lorries, and motorcycles, including radial and tubeless tires, to lower imports and assist domestic industries.

Growing Demand from Non-Tire Segment in Construction Industry Creates Tremendous Opportunities 

The increasing building activity worldwide is one of the key factors driving the use of rubber and, subsequently, the demand for chemicals used in rubber processing. The Asia-Pacific region, the largest construction market in the world, is growing at a healthy rate due to urbanization, rising middle-class earnings, and population expansion. The expansion in residential and commercial construction activities in the Asia-Pacific region is anticipated to enhance demand for rubber additives and industrial components such as conveyor belts, seals, gaskets, hoses, gums, adhesives, asphalt, and coatings and linings. China is going through a tremendous development boom. The nation has the largest construction market in the world and invests 20% of all global construction investments. The infrastructure of the country needs to be improved, according to the Indian government.

Regional Analysis 

Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.23% during the forecast period. China produces more than 800,000 tons of natural rubber annually, making it one of the top producers in the world. Rubber additives are a potential market in China since they can be utilized with natural and synthetic rubber. The Petrochemical Research Institute of CNPC and Shandong Yulong Petrochemical Co. Ltd. formally exchanged signatures on the "Technical License Contract for TBIR and Integrated Rubber." The rubber known as TBIR is a copolymer of butadiene and isoprene. China still needs to industrialize this synthetic rubber. To encourage domestic production, the Indian government has put import limits on tires. The government has restricted imports of tires for cars, buses, lorries, and motorcycles, including radial and tubeless tires, to lower imports and assist domestic industries.

North America is expected to grow at a CAGR of 4.74% during the forecast period. Since it does not produce natural rubber, the United States imports it from Asian countries. As a result, processed imported rubber is utilized to make a range of rubber products. Rubber is increasingly used in construction for roof coverings, flooring, sealants, and sound absorption. Rubber is a standard construction material used for conveyor belts, seals, gaskets, hoses, gums, O-rings, coatings, and linings. Demand for rubber additives rises as the construction sector develops.

Key Highlights

• The global rubber additives market size was valued at USD 5,315.52 million in 2022. It is projected to reach USD 7,618.18 million by 2031, growing at a CAGR of 4.08% during the forecast period (2023-2031). 
• Based on type, the global rubber additives market is bifurcated into accelerators, activators, vulcanization inhibitors, plasticizers, and other types. The activators segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.08% during the forecast period.
• Based on application, the global rubber additives market is bifurcated into tires, conveyor belts, electric cables, and other applications. The tire segment is the highest contributor to the market and is estimated to grow at a CAGR of 2.78% during the forecast period.
• Based on fillers, the global rubber additives market is bifurcated into carbon black, calcium carbonate, silica, and other fillers. The carbon black segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.06% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.23% during the forecast period.

Competitive Players

Competitive Players

The global rubber additives market’s major key players are BASF SE, Behn Meyer, China Petrochemical Corporation (SINOPEC Group), China Sunsine Chemical Holdings Limited, Eastman Chemical Company, Emery Oleochemicals, Kemai Chemical Co. Ltd, MLPC International (Arkema Group), NOCIL LIMITED, PUKHRAJ ZINCOLET, Rhein Chemie (Lanxess), Sumitomo Chemical Co. Ltd, and Thomas Swan and Co. Ltd.

Recent Developments

Market News

• In September 2022, Performance Additives participated in the International Rubber Industry Convention and expo in Kuala Lumpur in September 2022.
• In October 2022, Singapore-based China Sunsine Chemical Holdings expanded its rubber chemicals production in Shanxian, Shandong Province, to address the growing demand for products within the rubber industry.

Segmentation

Global Rubber Additives Market: Segmentation

By Type

• Accelerators
• Activators
• Vulcanization Inhibitors
• Plasticizers
• Other Types

By Applications

• Tires
• Conveyor Belts
• Electric Cables
• Other Applications

By Fillers

• Carbon Black
• Calcium Carbonate
• Silica
• Other Fillers

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA