Sinochem New Network News In its latest report, US Big Vision Research expects that by 2024, the global rubber processing auxiliaries market will reach US$6.1 billion, with a compound annual growth rate of 4.3%.
Rubber processing aids give rubber products excellent performance in extreme weather conditions. The terminal applications of rubber processing aids are divided into two areas: tires and non-tire rubber. The former is mainly for the production of high-performance and durable automobile tires. The latter mainly involves wire and cable, electrical and electronic products, industrial products and modified polymerization. Production of things, etc. The rapid growth in the consumption of tires and non-tire products has greatly boosted the market demand for such products.
The development of the tire and automotive industries directly affects the rubber processing aid market. The growth of the rubber processing aid market is heavily dependent on the tire industry. Demand for green, high-performance and energy-efficient tires is growing rapidly in emerging market countries and is driving the development of the rubber processing auxiliaries market. The diversified applications in the medical, aerospace, electrical, electronics and construction industries are also expected to further expand the demand for such products.
The Asia Pacific region dominates the global rubber processing auxiliaries market, accounting for 47.2% of total global sales in 2015. This is mainly due to the high demand from the two major countries of China and India for the automotive industry and the construction industry. As China is accelerating industrialization, it has become a leader in the production and consumption of rubber processing aids. It is estimated that the market value of China's rubber processing additives in 2015 was 1.18 billion US dollars. With the increasing awareness of safety protection in countries around the world and the rising demand for flame retardant rubber products, flame retardants will achieve rapid growth during the forecast period.