The rubber vulcanization process is known as a modification technique to improve the elasticity and strength of rubber. The process involves a series of complex chemical reactions that take place among rubber, sulfur, and auxiliary chemicals that results in strong and highly elastic material.
Rubber vulcanization industry is projected to be worth USD 3,793 billion by 2030, registering a CAGR of 2.86% during the forecast period (2022 - 2030).
Various end-user industries are expected to provide great thrust to the rubber vulcanization industry. Among these, the automotive transportation and healthcare industries are expected to play pivotal roles. The oil gas industry is also expected to provide substantial traction by promoting significant demands for pipe, seals gaskets, O-rings, sleeves rubber bladders, tubing hose, couplings, washers, grommets, connectors, and fittings.
MRFR’s take on the global rubber vulcanization industry relies heavily on a deep-diving study of the segments to get a closer view of factors that are impacting the market. This study also reveals substantial growth opportunities with backup form factors. The segmentation is based on type and application.
Based on the type, the global rubber vulcanization industry can be segmented into the vulcanizing agents, accelerators, activators, and others. The vulcanizing agent segment includes sulfur, tellurium, selenium, metallic oxides, and others. The accelerator segment comprises dithiocarbamate, dithiophosphate, sulfenamides, xanthates, and others. This segment has the potential to scale up to a USD 4,710.0 million valuations by the end of the review period.
Based on the end-use industry, the global rubber vulcanization industry comprises automotive transportation, industrial, consumer goods, healthcare, and others. Increase in sales of automobiles and commercial cars have inspired high production, which is expected to accelerate the demand for rubber in tire production, and subsequently, would impact global rubber vulcanization industry. The segment has the potential to experience a healthy CAGR of 5.47% over the review period. On the other hand, demand for spare tires are also growing, which can boost the market ingress considerably.
MRFR’s region-specific report of the global rubber vulcanization industry encompasses, namely, North America, Europe, Asia-Pacific (APAC), Latin America, and the Middle East Africa (MEA). This analysis has its focus set on understanding demographic prospects that can be capitalized on later.
The APAC market is expected to gain more from the market. It is, at present, well ahead of its competitions as of the reports of 2017 and the market scenario is expected to remain the same during the review period. The regional market had China as the largest contributor with 30% of the market share in 2017. Surpassing a CAGR of 5.68% during the forecast period seems quite achievable for the regional market. The Indian market could perform remarkably to cross a valuation of USD 927.1 million during the forecast period.
Europe accounted for 20.8% of the market share in 2017, with Germany heading the list. The regional market is gaining the most from the robust automotive sector that can usher in the rubber vulcanization industry share notably.
A number of rubber vulcanization industry players are showing immense interest in taking the global market forward by having tactical changes. These tactical moves often include merger, acquisition, collaboration, product launch, innovation, and other methods. MRFR registered and profiled a few for the report and they are Arkema SA (France), LANXESS (Germany), BASF SE (Germany), Kumho Petrochemical (South Korea), Eastman Chemical Company (US), Duslo, a.s. (Slovakia), Sumitomo Chemical Co., Ltd. (Japan), Willing New Materials Technology Co., Ltd (China), Shandong Stair Chemical Technology Co., Ltd (China), and King Industries, Inc (US).
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