Rubber Processing Chemicals Market to Reach US$5.1 Bn by 2024, Staggering Rise in Demand for Automobiles Bolsters Uptake in Manufacturing Tires - TMR - Seite 2

Increased Sales in Automotive Sector to Fuel Global Demand 

The increased usage of rubber processing chemicals in the manufacturing of tires in the automobile sector is a significant factor propelling the growth of the market. The demand is rapidly fueled by the burgeoning sales of automotive in several regions across the globe. The demand for rubber processing materials is also supported by the usage in construction of various building and such materials. The chemicals are used widely in the making of insulating agents, sealants, floor coverings, and roofing materials. The vivid usage of rubber is one of the key reason behind the expansion of the global rubber processing chemicals market.

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Toxicity of Chemicals to Hinder Growth of Market 

However, with so many support factors, there are certain hindering factors pulling back the market growth. Some of the rubber processing chemicals are toxic in nature, which hamper the purchase of the products. Issues which result in harmful effects of these chemicals on the nature are likely to restrict the demand in several areas across the world. This is also catalyzed by the government rules in some nations.

Regardless, the market is expected to come across several favorable circumstances due to the increasing efforts by key players so as to explore new chemicals for the rubber processing.

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The review is based on the findings of a report by Transparency Market Research, titled "Rubber Processing Chemicals Market (Type - Anti-degradants, Accelerators, Stabilizers, and Vulcanizing Agents; Application - Tire and Non-tire (Automotive, Building & Construction, and Industrial)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

The rubber processing chemicals market has been divided into the following segments:

Rubber Processing Chemicals Market - Type Analysis 

• Antidegradants
• Accelerators
• Stabilizers
• Vulcanizing Agents
• Others (include processing aids, peptizers, anti-tack agents etc.)

Rubber Processing Chemicals Market - Application Analysis