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Growth in the construction sector globally is expected to increase the use of rubber chemical additives, in turn driving the Rubber Chemical Additives Market.

HYDERABAD, TELANGANA, INDIA, February 8, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Rubber Chemical Additives Market size is forecasted to reach US$6.6 billion by 2027 after growing at a CAGR of 4.2% during 2022-2027. Rubber chemical additives are high performance additive materials used in rubber polymer production to improve processability, flexibility, and endurance. The Rubber Chemical Additives can be accelerators, lubricants, plasticizers, and antidegradants. Rubber chemical additives are extensively used in the automotive sector where it is utilized in the production of tires, wipers, bumpers, air bags, and several other automobile components. The automobile industry is booming globally with increasing vehicle production and sales and this is expected to augment the market’s growth during the forecast period. For instance, as per the 2021 stats by the European Automobile Manufacturers Association, registrations of passenger cars in the European region jumped by 25.2% in the first half of 2021. Furthermore, rubber chemical additives find their massive usage in the construction sector where they are utilized in the production of seals, gaskets, pipes, cabling, and multiple other construction components. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Global-Rubber-Chemical-Additives-Industry-Market-Research-511440

Key takeaways:

This IndustryARC report on the Rubber Chemical Additives Market highlights the following areas -

1. The automotive sector is driving the market’s growth. As per the June 2021 report by European Automobile Manufacturers Association, passenger cars registrations in the European region grew by 53.4% in May 2021 compared to the same period last year.

2. The construction sector is anticipated to propel the market’s growth during the forecast period. According to the November 2021 report by Council on Foreign Relations (CFR), the US Congress announced its plan to invest US$1 trillion for the up-gradation of physical infrastructures such as bridges and roads.

3. The Asia-Pacific region is expected to witness the highest demand for Rubber Chemical Additives owing to the booming automotive sector in the region. For instance, according to the data by the China Association of Automobile Manufacturers, the annual sales volume of new energy vehicles in China is projected to touch 3 million units by 2025 compared to 1.2 million units in 2019.

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Segmental Analysis:

1. Tires segment dominated the Rubber Chemical Additives Market in 2021 and it is expected to grow at a CAGR of 4.7% during the forecast period. A wide spectrum of Rubber Chemical Additives is utilized massively in the manufacturing of tires.

2. Asia-Pacific region held the largest share in the Rubber Chemical Additives Market in 2021, up to 34%. The high demand for rubber chemical additives is attributed to the growing automotive sector in the region. Rubber chemical additives are widely used in the region’s automotive sector for the manufacturing of various automobile components such as bumpers, seat covers, airbags, etc.

3. The automotive sector dominated the Rubber Chemical Additives Market in 2021 and is anticipated to grow at a CAGR of 5.3% during the forecast period. Rubber chemical additives such as aaccelerators, lubricants, plasticizers, and antidegradants are used in large quantities in the automotive sector for the manufacturing of numerous automobile components such as tires, wipers, floor mats, bumpers, among others.

Competitive Landscape:

The top 5 players in the Rubber Chemical Additives Industry are -

1. Solvay SA
2. Emery Oleochemicals GmbH
3. LANXESS
4. Arkema SA
5. BASF SE

Click on the following link to buy the Rubber Chemical Additives Market Report:
https://www.industryarc.com/reports/request-quote?id=511440

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Related Reports:

A. Rubber Processing Chemicals (Additives) Market
https://www.industryarc.com/Report/15081/rubber-processing-chemicals-additives-market.html

B. Rubber Bonded Abrasives Market
https://www.industryarc.com/Research/Rubber-Bonded-Abrasives-Market-Research-500378

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