The global market of rubber processing chemicals is projected to reach USD 4.8 billion by 2020 witnessing a CAGR of 5.4% between 2015 and 2020. Rubber processing chemicals will witness a steady growth between 2015 and 2020 driven by increasing demand for efficient and high quality chemicals for processing rubber.
Tyre application to dominate the market among all applications
Tyre application will hold the largest market size among all the applications and is estimated to account for market share of 56.6% in 2020. The demand for rubber processing chemicals from the tyre segment is expected witness high growth due to growing automobile industry and increasing purchasing power of consumers.
Asia-Pacific to dominate the global rubber processing chemicals market
Asia-Pacific is expected to continue to be dominant region by 2020. Owing to the increasing demand from automotive industry coupled with industries demanding high quality rubber processing chemicals for tyre and non-tyre industry in China and India.
The primary interviews were conducted to gather the market insights from industry experts in rubber processing chemicals market across small, mid and large size companies present in different regions of the world.