What is the global rubber processing chemicals market size?

The global rubber processing chemicals market size was valued at USD 5.05 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2020 to 2025. driven by ascending demand from end-use industries including automotive and building and construction.

How much is the global rubber market worth in 2028?

Global Rubber Market- Industry Trends & Forecast Report 2028 The global rubber market was worth USD 36.5 billion in 2021 and is further projected to reach USD 50.0 billion by the year 2028, growing at the CAGR of 4.70% in the forecast period.

What is the rubber industry report?

The Rubber Industry Report is published on a quarterly basis. It analyses recent developments in the natural rubber (NR) and synthetic rubber (SR) markets, and provides comprehensive short-term forecasts of rubber production and consumption (covering the current year and next year).

Which region is the largest market for rubber processing chemicals?

Asia Pacific was the largest market for rubber processing chemicals in terms of volume share in 2019 owing to rising demand from automotive and construction industries. The region is also a significant exporter of natural rubber to other regional markets. China led the market in terms of production and consumption.

What is the global rubber market?

Based on application, the global rubber market is segmented into the tire, non-tire automotive, footwear, industrial goods, and others. The tire segment accounts for the largest market share. The expanding tire production owing to the rising demand for automobiles worldwide acts as a major driving factor for the increasing demand for rubber.

What are the major manufacturers of rubber processing chemicals?

Major companies in the global market for rubber processing chemicals include Lanxess AG; BASF SE; Solvay SA; AkzoNobel N.V.; Arkema S.A.; and R.T. Vanderbilt Holding Company, Inc.