The global rubber additives market size is expected to reach USD 10.84 billion by 2030, according to a new study by Polaris Market Research. The report “Rubber Additives Market Share, Size, Trends, Industry Analysis Report, By Type (Antidegradants, Activators, Plasticizers, Vulcanization Inhibitors, Accelerators, Others); By Application; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for the product has increased owing to rising industrialization and urbanization. Growing applications in the construction industry and the development of public infrastructure have also boosted the industry's growth. However, the COVID-19 outbreak has negatively impacted the industry owing to interrupted supply chains, operational inefficiencies, and transportation delays.
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Asia-Pacific is expected to grow at a significant rate during the forecast period. Strengthening the automotive sector supports industry growth in this region. Increasing application in the construction sector, greater demand for electronics and semiconductors, and rising adoption of electric vehicles fuel growth in this region.
Several international players are entering this region to leverage the availability of raw materials and labor offered by these countries. The automotive segment dominated the industry in 2021. Greater demand for passenger vehicles, modernization of vehicles, and the need for high tire performance drive the growth of this segment. The growing need to reduce weight in automobiles for increased performance, technological advancements, and rising investments are factors expected to offer growth opportunities during the forecast period. The rising demand for technologically advanced luxury vehicles and the adoption of vehicular safety standards has further accelerated the demand for the product.
The anti-degradants segment accounted for a significant share in 2021. Anti-degradants offer protection against constant exposure to heat and oxygen, thereby enhancing the performance of products. Greater demand for anti-degradants in the manufacturing of rubber additives products to offer improved safety, durability, and resistance to external influences boosts the growth of this segment.
Rubber Additives Market Report Highlights
Polaris Market Research has segmented the rubber additives market report based on type, application, end-use industry, and region:
Rubber Additives, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Rubber Additives, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Rubber Additives, End-Use Industry Outlook (Revenue - USD Billion, 2018 - 2030)
Rubber Additives, Regional Outlook (Revenue - USD Billion, 2018 - 2030)