Few of the key players in the global rubber processing chemicals market include Emerald Performance Materials, R.T. Vanderbilt Company, Inc, Chemtura Corporation, LANXESS Corporation, Eastman Chemical Company, Solvay SA, Behn Meyer Group, Emery Oleochemicals Llc, China Petroleum & Chemical Corporation, and AkzoNobel N.V.
As per the report, the worldwide rubber processing chemicals market was accounted at more than USD 3.71 Billion in 2015, is anticipated to attain over USD 5.10 Billion in 2021, and is projected to develop at a CAGR of slightly over 5.2% between 2016 and 2021.
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Rising industrialization to drive the rubber processing chemicals market in Asia Pacific
In 2015, the biggest market stake was held by Asia Pacific and was deemed to be the maximum revenue-producing area for the rubber processing chemicals market. Primarily, this can be contributed by the rising command for rubber processing chemicals from China and India. China marked for the biggest market share throughout the globe on account of the rising rubber industry in this area.
Furthermore, the increasing industrialization within Asia Pacific is projected to drive the rubber processing chemicals market growth in the years to come. Rubber industry is hugely placing its roots over Asia Pacific, thus, fortifying the rubber processing chemicals market growth.
Rising demand from end-user applications to drive the rubber processing chemicals market
North America and Europe were the primary markets in 2015 for the rubber processing chemicals market and Europe is projected to observe considerable expansion over the near future. Nevertheless, strict regulations passed by North America’s government on the rubber processing may hamper the rubber processing chemicals market growth in this region.
The rising requirement for the rubber processing chemicals in Germany as a result of its numerous end-user applications like automobile industry might propel the growth of the rubber processing chemicals market in Europe. The mounting R&D spending for rubber processing chemicals owing to laws implemented by the government and strong friendship owing to the existence of several substitute products and vendors is anticipated to drive the rubber processing chemical market.
This report segments the rubber processing chemicals market as follows:
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