Vulcanization accelerators are important additives in rubber production. They improve the vulcanization process by turning rubber compounds into durable and elastic materials. These accelerators facilitate effective crosslinking of polymers, improving the strength, elasticity and overall performance of rubber in applications ranging from tires to industrial products.
Future Market Insights (FMI) predicts that the vulcanization accelerator market will grow 3.8% year-on-year in 2022 and reach approximately $1,708.1 million by the end of 2022. Global business is expected to grow at a CAGR of 4.3% between 2022 and 2029.
The latest vulcanization accelerators market research report published by Future Market Insights (FMI) combines global industry analysis from 2014 to 2021 and assessment of market opportunities for the forecast period 2022 to 2029. Market research uncovers decisive insights and provides detailed market analysis: historical period and forecast period. According to the market assessment provided in the report, the global vulcanization accelerator market is expected to grow significantly due to the growing demand from the tire industry.
The global vulcanization accelerator market is valued at approximately US$1.4 billion in 2021 and is projected to grow at a CAGR of 4.3% during the forecast period from 2022 to 2029.
In addition to tires, rubber is used in other automotive parts such as windshield wiper blades, engine mounts, seals, hoses, and belts. Increasing the production of automobiles will increase the level of production of automotive rubber parts. Therefore, the amount of the vulcanization accelerator is increased.
Rubber is widely used in industrial products such as rubber bands, rubber barrels, rubber mats, rubber pads, rubber rollers and rubber mats in a variety of products. Apart from this, rubber also has an important application in the manufacture of medical products such as condoms, surgical gloves, stoppers, tubes, shock-absorbing or supporting materials, breathing bags, implants, prostheses and catheters, etc. Therefore, the growing consumption of rubber is expected to in the medical and industrial sectors will increase the demand for vulcanization accelerators in these industries.
Japan and China are a few of the top tire producing countries. China is considered a famous tire manufacturing country. The existence of companies such as the Yokohama Rubber Company and the Bridgestone Company made Japan a major tire manufacturing country. In addition, with the rapid development of China’s automobile industry, tire production has increased in recent years. However, fluctuations in raw material prices due to the trade war and oversupply of materials are taking their toll on local producers.
In addition, strict tire export regulations in Europe and the US are expected to create additional challenges for tire manufacturers. However, East Asia is expected to become an important market for vulcanization accelerators due to growth in car and truck sales and increased demand for replacement tires.
Population growth, rising living standards and increased production of electric vehicles will increase the demand for tires in East Asia, which will positively affect the growth of the vulcanization accelerator market. In addition, the growing focus on high quality medical and industrial rubber products is expected to drive demand for vulcanization accelerators in the region.
According to FMI analysis, the global vulcanization accelerator market is moderately consolidated, with global and regional players playing a key role. The Global Vulcanization Accelerators Market report features several key industry players in the global market. The main players in the market are, among others, LANXESS AG, Arkema, Eastman Chemical Company, Sumitomo Chemical Company, NOCIL Ltd. and Kumho Petrochemical.
The slowdown in the auto industry over the past few months has changed that, according to FMI research. However, government initiatives, tax cuts and subsidies will continue to drive growth in the automotive industry, which in turn will boost the vulcanization accelerator market. In addition, the growing demand for vulcanized rubber in rubber and medical applications is expected to lead to increased demand for vulcanization accelerators.
Future Market Insights Inc. (an ESOMAR-accredited market research organization, a member of the Greater New York Chamber of Commerce) provides details on the controlling factors driving up market demand. It reveals growth opportunities for different segments based on source, application, channel and end use over the next 10 years.
if you need O-rings ,oil seal , Hydraulic Seals,
please visit our website : www.bodiseals.com
Post time: Aug-17-2023