The continuously flourishing the automotive industry is likely to offer the most lucrative opportunities for growth in the coming years. Additionally, the aerospace industry is adopting the natural rubber-based tires, which is augmenting demand for rubber vulcanization. Swiftly changing the aerospace industry is fueling the growth of the global rubber vulcanization market. Furthermore, natural rubber is extensively used in the production of aircraft tires for its better quotient of heat resistance.
The vulcanization process modifies the properties of the rubber and adds elasticity and strength by forming a crosslink between the long chain of molecules. These properties make the material suitable for several end-use industries. Thus, the market for rubber vulcanization is likely to witness robust growth in the coming years. Rubber Vulcanization Market Analysis is anticipated to reach a valuation of USD 11,219.7 million by 2025 by exhibiting a growth rate of 4.94% over the estimated timeframe from 2018 to 2025. This growth is primarily attributable to the high demand for rubber from pharmaceutical, automotive, and consumer goods industries.
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Market Scenario and Growth Factors:
Additionally, thriving construction and infrastructural development globally and especially across emerging countries is propelling growth of the global rubber vulcanization market. Growing demand for the products including natural rubbers in gloves, rollers, injection parts, tubes, mammary prostheses, and the pacemaker is positively impacting the growth of the market. Further, the demand for the seals & gaskets, pipe, O-rings, tubing, hose, washers, grommets, sleeves and rubber bladders, connectors, couplings, and fittings in the oil & gas industry is propelling growth of the market.
The Key Players Operating In the Global Rubber Vulcanization Market:
Eastman Chemical Company,
Sumitomo Chemical Co., Ltd.,
Willing New Materials Technology Co., Ltd,
Shandong Stair Chemical & Technology Co., Ltd,
King Industries, Inc.
The automotive industry is trying to offer advanced featured vehicles such as self-seal tires. In these kinds of tires, the inner liner and covers the tread area. For instance, Ford Motor Co. announced the offering of a self-sealing version of Michelin Primacy A/S.
The Rubber Vulcanization Market is segmented based on type, technique, end-user industry, and region.
In terms of type, the global rubber vulcanization market is categorized into the vulcanizing agents, accelerators, activators, and others. The vulcanizing agent segment is further categorized into sulfur, selenium, tellurium, and metallic oxides. The accelerators segment is sub-segmented into dithiocarbamate, sulfenamides, dithiophosphate, and xanthates. Of these, the accelerators type segment dominated the global rubber vulcanization market and is estimated to procure a value of USD 4,710.0 million by the end of the forecast period.
Based on the end-use industry, the market is segmented into automotive & transportation, industrial, consumer goods, healthcare, and others. Of these, the automotive & transportation segment held more than 58% share in 2017 and is estimated to witness lucrative growth over the forecast period.
Based on the technique, the market is segmented into sulfur vulcanization and other curing techniques. Of these, the sulfur vulcanization technique segment dominated the market in 2017 and is anticipated to exhibit a CAGR of 4.8% during the forecast period.
By region, the market is segmented into North America, Asia-Pacific, Europe, and Latin America. Of these, Asia Pacific held the lion’s share in the overall market in 2017 and is estimated to exhibit a CAGR of 5.68% over the forecast period. Among these, China accounted for 30% of the share in 2017. Indian market is likely to grab a value of USD 927.1 million during the forecast period. As per the Association of Natural Rubber Producing Countries (ANRPC), countries including India, Indonesia, China, Malaysia, Singapore, Philippines, Sri Lanka, and others are producing around 91% of global rubber production in 2017.
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