The report "Rubber Additives Market by Type (Accelerators, Antidegradants, and Others), Application (Tire and Non-Tire) & by Region (North America, Europe, Asia-Pacific, and RoW) - Global Trends & Forecast to 2020" , defines and segments the rubber additives market with an analysis and forecast of the rubber additives market size by value. The rubber additives market size by value is projected to reach USD 4.8 Billion by 2020, with a CAGR of 5.4% between 2015 and 2020.
The growing population coupled with the increased spending on automobiles has driven the market for rubber additives. Asia-Pacific is thus expected to maintain its dominance in the global market owing to the steady growth in China and India. Europe is the other major market for rubber additives. This is due to the growing automobile market in Germany.
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Top Industry players analyzed in this research are : Lanxess AG (Germany), Solvay SA (Belgium), Akzonobel N.V. (Netherlands), Arkema SA (France), and BASF SE (Germany).
Automobile segment to boost demand of rubber additives
The rubber additives market is mainly driven by the growth in the demand for automobiles. Rubber additives are used to enhance the properties of rubber used in the manufacture of tires. With the growing population and increased spending by the consumers, the demand for automobiles has increased which in turn has led to the increased demand for rubber additives. These chemicals add superior qualities to the rubber.
Asia-Pacific to drive the rubber additives market
Asia-Pacific is the fastest-growing market for rubber additives. The growth in the Asia-Pacific region is primarily driven by the increasing domestic demand and rising exports of natural rubber to the western markets. The increasing demand for rubber additives from the tire industry is further driving the market in this region.
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