A report by Transparency Market Research, titled, “Rubber Antioxidant Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” projects this market to witness a stellar growth during the forthcoming years. Such growth is mainly predicted to occur due to widespread advancements witnessed by the automotive industry all over the globe.
The rubber antioxidants market is mainly being driven by a rapid advancements occurring in the automobile industry. This is mainly due to the widespread use of rubber products in this industry, majorly to manufacture tires. Rubber antioxidants provide long term protection to tires and other rubber product. Such protection is mainly possible due to existence of properties of rubber antioxidants such as low volatility, low reactivity, and low migration rate. These factors has led towards a high preference shown by automobile manufacturers to use rubber antioxidants, as compared to other alternatives. Furthermore, the antioxidants are soluble in chloroform, carbon disulfide, and acetone too, thus making it highly easy to use the antioxidant materials. All these factors describe above are responsible for substantially driving the global rubber antioxidant market.
However, production of rubber antioxidants might be harmful to the environment. This has made several governments around the globe to limit the use of these materials, consequently hindering the global rubber antioxidant market. Several stringent governmental regulations have been put forth in this context, mainly in developed countries. High costs of manufacturing rubber antioxidants in some regions is also hindering the market’s growth notably. A shortage of expertise needed to produce good quality rubber products in emerging economies does not bode well for the market too, as the chances for using rubber antioxidants in this case are dramatically reduced. Nevertheless, many companies are anticipated to introduce several cost-effective antioxidant products, thus reducing effects of restraints affecting the global rubber antioxidants market.
The global rubber antioxidants market depicts a highly fragmented vendor landscape that is characterized by intense competition owing to the presence of innumerable players. The vendor landscape is gradually expanding and is even expected to spread in remote and underdeveloped regions during the forthcoming years.
Participating in mergers & acquisitions, expansion of product portfolios, and achieving product differentiation are key schemes implemented by most businesses in the global rubber antioxidants market. Bringing about extensive innovations in antioxidant production techniques, and striving towards making quality products also are other strategies implemented by most businesses working in the global rubber antioxidant market. Shandong Eksesen Chemical Co., Agrofert (Duslo), KUMHO PETROCHEMICAL, Eastman Chemical Company, Ltd., LANXESS, OUCHI SHINKO CHEMICAL INDUSTRIAL CO., LTD., and Kemai Chemical Co., Ltd., are key players operating in the global rubber antioxidant market.
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Geography-wise, the global rubber antioxidant market is mainly spread across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, a high pace automobile manufacturing, coupled with rapid and industrialization in expanding economies in North America has made this region hold a dominant position in terms of revenue growth. However, easier availability of cheap labor to produce rubber products in Asia Pacific is expected to make this region grow at a phenomenal rate in the rubber antioxidant market.