Synthetic Rubber Additive Fertilizer size (2023 – 2030)

According to the report published by Virtue Market Research in Global Synthetic Rubber Additive Market was valued at USD 3.2 billion and is projected to reach a market size of USD 4.73 billion by the end of 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 5%.
 

The number of different types of ingredients added to synthetic rubber to increase or acquire the desirable properties are called additives. These additives offer protection from degradation and damage from components of ozone and chemicals, weathering, varying temperature, etc and it also improves the aging property of the synthetic rubber. There are different types of additives such as plasticizers, anti-degradants, and accelerators which assist in mechanical flexibility, toughness, and ductility and improve temperature resistance and they are used in different industries such as aerospace, construction, automotive, and healthcare. The demand for additives has been fueling the growth of the market as their need in various industries are continuously increasing. Antidegradants and plasticizers are one of the most extensively used additives that are used in emerging automotive and aerospace industries. With rapid urbanization and industrialization, increasing living standards of people the demand for synthetic rubber additives is only going to increase in the coming years.

There is increasing investment by government bodies from various countries that are aimed at modernizing outdated grid technology and creating environmentally friendly electricity networks in distant regions. Consequently, businesses in the market are introducing specialized additives capable of greatly enhancing the durability, effectiveness, and overall performance of rubber compounds. This trend is expected to be a key driver for the market's expansion.

Global Synthetic Rubber Additives drivers:

The infrastructural expansion has been fuelling the growth of the Global Synthetic Rubber Additives Market.

The number of infrastructure projects has been increasing especially with the investments of private participation in the infrastructure projects which going to fuel the market of synthetic rubber additives market. With that, even governments around the world have been ramping up their investments in infrastructure projects and also have been supporting the usage of synthetic rubber additives. Therefore, the increasing number of projects is expected to rise the demand for synthetic rubber additives during the forecast periods.

Increasing demand in the automotive sector is also contributing to the growth of the Synthetic Rubber Additives Market.

With the rise in the standard of living of people all around the world, there has been a significant increase in the automotive industry which has also increased the market of synthetic rubber additives. Manufacturers are also shifting towards electric vehicles due to environmental concerns, an increase in demand for low-emission vehicles, tax exemptions, and subsidies provided by the governments. The automotive sector booming which is also estimated to significantly increase the revenue of the Synthetic Rubber Additives Market during the forecast period.

Global Synthetic Rubber Additive Market Challenges:

The prices of synthetic raw materials have been fluctuating which is also causing an impact on the additives market. The resources from which they are acquired like petroleum, and natural gas also have a very unstable supply and demand which affects the manufacturer’s profitability. Synthetic rubber additive components including polycyclic, PAHs, and other heavy metals are also harmful which raises the concern for environment and sustainability and also puts human health in danger. Environmental concerns and the unstable nature of the raw materials will be the major factor hampering the growth of the Global Synthetic Rubber Additive Market.

Global Synthetic Rubber Additive Market Opportunities:

The additives industry is witnessing a surge in demand due to ongoing progress in the construction sector, swift expansion of public infrastructure, and increased requirements from developing economies. The growing adoption of these additives in the production of electric vehicles, coupled with strict regulations related to vehicle safety and emissions, is projected to bolster market growth. Additionally, the market's growth prospects during the forecast period are projected to be fuelled by the launch of innovative products by industry players and the increasing action towards environmentally friendly and sustainable offerings.

COVID-19 Impact on Global Synthetic Rubber Additive Market:

The pandemic had a significant impact on the Synthetic Rubber Additive Market with the supply chains disrupted and demand for production and construction falling due to the lockdown. The supply of raw materials was severely hampered which was needed to make the synthetic rubber additive. The automotive and the construction sector used the synthetic rubber additive more frequently but with the lockdown, the supply and demand for the additives went down which negatively impacted the market. But with the opening of the lockdown, the sector had a good recovery and is also on a profitable trajectory. So overall COVID-19 had a moderate impact on the market.

Global Synthetic Rubber Additive Market Recent Developments:

• In March 2023, As per H.M. Royal, Bruggemann, a company specializing in polymer additives, unveiled an innovative rubber additives technology. This technology integrates two additives, TP 1862 and LP21-103, to produce a rubber-to-metal adhesive. Notably, this adhesive eliminates the necessity for resorcinol and cobalt salt.

• In July 2022, to address the increasing demand in the Asian market, Birch Chemicals inaugurated a new facility in India. This facility is geared towards providing a diverse array of products including cure activators and desiccants. By undertaking this expansion initiative, the company is strategically positioned to capitalize on the prospects emerging from the burgeoning automotive industry within the nation.

• On March 14, 2022, BASF SE revealed a price hike concerning antioxidant additives utilized in applications involving elastomers and rubber. The price adjustment is attributed to notable rises in the expenses associated with stearyl alcohol and logistical operations.

SYNTHETIC RUBBER ADDITIVE FERTILIZER MARKET REPORT COVERAGE:

Global Synthetic Rubber Additive Market Segmentation: By Type

• Antidegradants

• Plasticizers

• Activators

• Vulcanization

• Accelerators

• Others

Antidegradants were the most dominant segment and held the major portion of the market in 2022. It offers protection to rubber products from degradation, exposure to heat, oxygen, aging, and others. It also increases the life cycle of synthetic rubber additive products by enhancing the properties and productivity of the product. Accelerators has also one of the fastest-growing markets after anti-degradants. Accelerators find application in rubber compounds to enhance the speed of vulcanization, even at lower temperatures, thereby providing increased efficiency. Both types of additives are estimated to increase significantly during the forecast period.

Global Synthetic Rubber Additive Market Segmentation: By End User

• Automotive

• Aerospace and Defence

• Electronics

• Construction

• Healthcare

• Others

The automotive sector is estimated to dominate the Global Synthetic Rubber Additive market during the forecast period. There is a rising need for synthetic rubber additives in tires in the automotive industry due to the increased demand for automobiles and sophisticated and high-tech rubber goods in the industry. The market for aerospace and defense has been increasing at a fast pace as every country is in the race to reach space and improve their defense sector, synthetic rubber additives are heavily used in this industry too.  The booming automotive sector and rising aerospace and defense sector are set to generate a huge amount of revenue for the Global Synthetic Rubber Additive Market.

Global Synthetic Rubber Additive Market Segmentation: By Application

• Tires

• Conveyor Belts

• Electric Cables

• Tapes

• Others

Due to the rising demand for high – quality of rubber for the automotive industry, the tires segment has dominated and held a significant portion of the Global Synthetic Rubber Additive Market and is estimated to rise even further. With the rapid urbanization and electrification from a high rise to even the smallest of villages around the world, the electric cables segment is also growing faster and is estimated to grow even further during the forecast period.

Global Synthetic Rubber Additive Market Segmentation: By Region

• North America 

• Europe 

• Asia-Pacific 

• South America 

• Middle East & Africa 

Asia-Pacific is the most dominant region in the market and is expected to remain the same during the forecast period. It held the major portion of the revenue of more than 40% due to the rising demand of the automotive industry in the countries like Gina, India, Japan, South Korea, and others. North America and Europe are also estimated to hold a sizable portion of the market due to the increasing demand for green tires. Middle East and Africa are also receiving significant amounts of investments as the demand for Synthetic Rubber Additives is growing.

Global Synthetic Rubber Additive Market Key Players:

1. Akrochem Corporation

2. Akzo Nobel N.V.

3. Arkema S.A.

4. BASF SE

5. Celanese Corporation

6. Emerald Performance Materials

7. Emery Oleochemicals

8. King Industries Inc.

9. Kraton Corporation

10. Lanxess AG