Rubber Shoe Sole Market Size 2022-2030: SWOT Analysis, Industry Share, Growth, Regional Overview.
Overview:
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 a strong and highly
elastic material. The global rubber vulcanization market is expected to get
boosted by great demands from various end-user industries and achieve a 4.94%
CAGR during the forecast period of 2016-2025. Market Research Future (MRFR)
predicts that USD 11,219.7 million
valuation by 2025 would be quite achievable for the global rubber vulcanization
market.
Various end-user
industries are expected to provide great thrust to the rubber vulcanization
market. Among these, 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.
Competitive
Landscape:
A number of
rubber vulcanization market 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).
Segmentation:
MRFR’s take on the global rubber
vulcanization market 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 a backup from factors. The
segmentation is based on type and application.
Based on the type, the global rubber
vulcanization market can be segmented into vulcanizing agent, accelerators,
activators, and others. The vulcanizing agent segment includes sulfur,
tellurium, selenium, metallic oxides, and others. The accelerators segment comprises
dithiocarbamate, dithiophosphate, sulfenamides, xanthates, and others. This
segment has the potential to scale up to USD 4,710.0 million
valuation by the end of the review period.
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Based on the technique, the global rubber
vulcanization market includes sulfur vulcanization and other curing techniques.
The sulfur vulcanization technique has the potential to land a CAGR of over 4.8% during the forecast period.
Based on the end-use industry, the global
rubber vulcanization market 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 market. 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.
Regional Analysis:
MRFR’s region-specific report of the global
rubber vulcanization market 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 market
notably.
In July 2019,
BASF announced its intention to set up a new tert-butylamine (tBA) plant in
Nanjing. The product is used as an intermediate for vulcanization accelerators
production, especially for the automotive industry. Such a stance would be good
for the APAC regional market.
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