Dublin – World demand for rubber additives is projected to grow at a a CAGR of 4.99% to $5.440 billion in 2022, according to a Research and Markets press release.
The 24 Aug release highlighted the findings of a study, titled ‘Rubber Additives Market - Forecasts from 2017 to 2022’, which pegged the global market at $4.264 billion in 2017.
Consumption of additives such as vulcanisation agents, stabilisers and fillers is increasing on higher demand for rubber polymers in the automotive, ‘manufacturing’ and electrical industries, it said.
On the other hand, the report found that stringent regulations and policies from authorities across the world was impairing market growth.
Geographically, Asia Pacific region is expected to drive the global market, while Europe is expected to see “significant market growth” due to expansion of the automotive market in Germany.
The report lists key players in the rubber additives sector as including: Emery Oleochemicals, Behn Meyer, Akzo Nobel, King Industries, Thomas Swan, Eastman Chemical Co. and BASF.