Global Rubber Antioxidant Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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The Rubber Antioxidant Market report has been segmented on the basis of the product type, application, and region.
Rubber Antioxidant Market Overview:
“The Rubber Antioxidant Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Rubber antioxidant is a type of additive, which is added to rubber in order to prolong its mechanical and physical properties, increase the lifespan of rubber products, and slow down discoloration. Aromatic amine is the most commonly used rubber antioxidant.
Rubber antioxidant is added to the products while the compounding stage and has a wide scope of application in the production of a variety of products such as tires, belts, hoses, mats, cables, etc.
These antioxidants are highly soluble in carbon disulfide, chloroform, and acetone, among others, however, rubber antioxidants are partly soluble in water and gasoline.
Drivers, Challenges, Opportunities, and Macro Trends
Rapidly increasing production and sales of automobiles, coupled with increasing demand for rubber antioxidants from the automotive industry for the production of tires, rubber belts and other components in developed and developing countries are major factors expected to drive the growth of the global rubber antioxidant market.
In addition, increasing adoption of rubber antioxidants by the manufacturers of dynamic and static heavy capacity rubber products such as tire cables, tubes, hoses, belts, and adhesive tapes is expected to support the growth of the global rubber antioxidant market in the coming years.
However, stringent government regulations regarding the safe disposal of contaminated wastewater from the rubber processing industry, along with rising usage of hazardous chemicals that have long-lasting negative effects on the environment are major factors that could hamper the growth of the global rubber antioxidant market.
Global Rubber Antioxidant Market: Segment Analysis
Among the segments based on type, the Paraphenylene Diamine antidegradants (PPDs) segment is expected to account for a major share in the global rubber antioxidant market in terms of revenue over the forecast period.
PPDs are recognized as the most powerful class of chemical antiozonants, antiflexcracking agents, and antioxidants, and hence are commonly used as a primary antioxidant in rubber processing.
Among the segments based on application, the tire segment is expected to contribute a major share of the target market in the next 10 years.
This can be attributable to the rising number of production and sale of vehicles across the world and the adoption of tires that are made through advanced technologies. In addition, increasing demand and adoption of electric vehicles and two-wheelers is another major factor expected to fuel the growth of the segment to a significant extent.
Rubber Antioxidant Market Region Analysis
The Asia Pacific market is expected to account for the highest share in the global rubber antioxidant market in terms of revenue over the forecast period.
This is attributed to increasing sales of vehicles such as cars, passenger vehicles, and two-wheelers, along with increasing production of tires to meet the demand for production purposes, especially by the automotive industry in the countries such as China and India in the region.
In the Asia Pacific rubber antioxidant market, the China market is expected to lead in terms of production of rubber antioxidants and is anticipated to maintain its dominant position over the forecast period and contribute to the Asia Pacific market growth.
The North American market is projected to register a moderate growth rate in the next 10 years, owing to the presence of a large number of tires and rubber industries.
The Europe market is projected to register a significant growth rate over the forecast period, owing to increasing demand for automotive rubber products in countries such as the UK, France, and Germany.
The market in Middle East & Africa is estimated to account for a moderate share in terms of revenue in the global market owing to increasing sales of cars in the countries in the Middle East.
Various manufacturers are focusing on starting manufacturing units in Latin America owing to the easy availability of low-cost labor and reduced cost of production as compared to that in developed regions.
Global Rubber Antioxidant Market: Segmentation:
Segmentation, by Product Type:
- 2,4-Trimethyl-1,2-Dihydroquinoline polymer
Segmentation, by Application:
- Conveyor belts
- Transmission belts
Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Eastman Chemical Company
- Kumho Petrochemical Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Seiko Chemical Corporation
- Ouchi Shinko Chemical Industries Co. Ltd
- Northeast Auxiliary Chemical
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