Future Market Insights (FMI) has forecasted that the global market for Vulcanization Accelerators will grow at a year-on-year rate of 3.8% in 2022, reaching a value of about USD 1,708.1 million by the end of 2022. The global business is anticipated to witness a considerable CAGR of 4.3% between 2022 and 2029.
| Report Attributes | Details |
|---|---|
| Vulcanization Accelerators Market Base Year Value (2021A) | USD 1,637.2 Million |
| Vulcanization Accelerators Market Estimated Year Value (2022E) | USD 1,708.1 Million |
| Vulcanization Accelerators Market Projected Year Value (2029F) | USD 2,301.6 Million |
| Vulcanization Accelerators Market Value CAGR (2022 to 2029) | 4.3% |
| Market Collective Value Share: Top 3 Countries (2022E) | 46.5% |
Due to increased industrial activity, growing automobile production, and rising medical expenditure in established and developing nations, the demand for vulcanization accelerators is predicted to rise over the forecast period. Considering this, FMI has forecasted the global Vulcanization Accelerators sales to reach a valuation of USD 2,301.6 Million in 2029.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.2% |
| H1,2022 Projected (P) | 4.3% |
| H1,2022 Outlook (O) | 4.0% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 30 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 20 ↓ |
The bps values recorded in the vulcanization accelerators market in H1, 2022 - Outlook over H1, 2022 Projected represent a reduction of 30 units, according to FMI analysis. Additionally, the market is anticipated to fall another 20 BPS in H1–2022 compared to H1 2021.
Growing health concerns and rising awareness of commodity composition among end users are the key factors behind the market's downfallet. Vulcanization accelerators are slightly toxic, and with the presence or development of less toxic alternatives to the product, demand is likely to be hampered compared to previous years.
Further, the rise in the price of commodity products and ongoing geopolitical tensions are also impacting the market's growth.
Future Market Insights anticipates a comparison and review analysis of the market dynamics for vulcanization accelerators, which is primarily influenced by several industry-specific factors and a few distinct influences regarding therapeutic strategies that foster industry innovation.
One of the most recent innovations in the industry is the continuous research and development of low-cost, highly effective, and less harmful vulcanization accelerators.
However, despite various challenges in the market, demand for vulcanization accelerators is expected to witness moderate growth with expanding industrial activity, rising vehicle production, and rising medical spending in developed and developing nations.
Additionally, growing tire production capacity and an abundance of inexpensive raw materials in developing nations like China, India, and ASEAN are anticipated to fuel the growth of the vulcanization accelerators market during the projected year.
Sales of Vulcanization Accelerators increased at a CAGR of 3.7% between 2014 and 2021. Sales prospects in 2020 and 2021 were dampened due to the outbreak of the COVID-19 pandemic, which reduced the demand for Vulcanization Accelerators. Still, in the coming years, the growth is expected to return to its original pace.
Increasing industrial activity, growing automobile output, and rising medical expenditure in established and developing economies will likely boost demand for vulcanization accelerators throughout the forecast period. Furthermore, rising tire manufacturing capacity and plentiful low-cost raw material availability in developing countries such as China, India, and ASEAN countries are expected to propel the vulcanization accelerators market forward throughout the forecast period. However, developing high-performance tires in developed economies will result in moderate market growth.
The market is expected to witness attractive growth opportunities in the near future owing to its higher consumption in the automotive & medical industries, which is anticipated to boost the demand for Vulcanization Accelerators.
Vulcanization accelerators are essential in the automobile sector since they produce tires, wiper blades, engine mounts, seals, hoses, and belts. Due to the easy availability of a wide range of products at a fair price point, individual customers are increasing their spending on tire replacement, consumer goods, and medical treatments.
The market is predicted to rapidly increase, particularly in India and China, driving global demand for automotive (passenger cars). The number of vehicles in use has risen in tandem with the growth in vehicle production. This has a direct impact on the aftermarket automotive maintenance and repair industry.
The growing fleet of midsize and compact automobiles is expected to benefit the Vulcanization Accelerators market, as each vehicle will be equipped with rubber-based auxiliary parts and tires.
Tire production is continuously increasing due to rising automobile sales and aftermarket operations. Tire manufacturing uses Vulcanization accelerators to expedite processes and improve tier properties. They also favorably impact the operating rate by boosting the rate of reaction.
As a result, rising tire usage is propelling the vulcanization accelerator market forward. Increasing consumption of the compound in the automotive segment is anticipated to boost demand in the near future, which is expected to reach about USD 2,301.6 million by the year 2029.
As per FMI, the USA is projected to account for a significant share of the global Vulcanization Accelerators market. The demand for vulcanization accelerators is increasing due to the existence of major tire manufacturers such as Bridgestone, Goodyear, Michelin, Continental, and Pirelli. On the other hand, increased tire imports from Chinese producers are slowing tire output in North America.
The growing fleet size of passenger cars, light trucks, and heavy trucks is driving up demand for replacement tires.
This will directly influence the market for Vulcanization Accelerators. Growth, on the other hand, is predicted to be moderate and consistent. The domination of industrial operations and rising medical and healthcare expenditures, on the other hand, will have a beneficial impact on the market's growth.
The rising need for vulcanization accelerators drives up demand for industrial and medical rubber goods. Despite the United States' dominance, Canada is predicted to overtake the United States in the next few years due to expanding opportunities in the medical sector and custom industrial component design. The USA is expected to reach about USD 240.8 million by 2029.
The market is expected to gain traction at 3.2% CAGR between 2022 and 2029. Russia is expected to dominate the European market in the forecast period for the Eastern Europe region.
The European market for Vulcanization Accelerators is predicted to grow moderately. The growing demand for green tires in the region due to labeling initiatives is expected to boost market growth in the coming years. Western Europe has reached market saturation, whereas Eastern Europe is expected to make a considerable contribution to regional market growth.
Due to increased tire production and tire replacement activities in the region, Russia is predicted to fuel the growth of the Europe Vulcanization Accelerators Market. Apart from that, European countries are seeing an increase in car production and aftermarket operations. The need for high-performance materials will rise as the use of high-performance tires rises.
China is projected to reach an estimated value of USD 661.4 Million by the end of 2029. In the overall market of Vulcanization Accelerators, China is the leading producer & consumer of Vulcanization Accelerators owing to the presence of the key players. In recent years, China's auto sector has experienced substantial expansion.
Tire production in China is increasing steadily. However, fluctuating raw material prices caused by trade disputes and material overstock harm local manufacturers. Furthermore, enforcing strict rules on tire exports from European countries and the United States is projected to exacerbate tire makers' troubles.
China and Japan are two of the world's largest tire producers. As the population, standard of living, and manufacturing of electric vehicles rise in East Asia, the need for tires will rise, positively impacting the East Asian Vulcanization Accelerators Market.
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The medical industry is expected to grow at a prominent value of 4.3% CAGR from 2022 to 2029.
Tubes, surgical gloves, condoms, breathing bags, cushioning or supporting materials, prostheses, catheters, and implants are just a few examples of medical items that use vulcanization accelerators. The global Vulcanization Accelerators market should benefit from rising healthcare spending.
Due to changing lifestyles, more health awareness, and changing environmental circumstances, medical and healthcare spending has increased significantly in recent years. In the not-too-distant future, government healthcare spending as a percentage of GDP is expected to climb.
As a result, demand for medical rubber goods is expected to increase. Over the projected period, the market is expected to rise due to the increasing use of vulcanization accelerators in manufacturing medical rubber products. Medical-grade rubber products are also in high demand due to a growth in cardiac problems, pediatrics, and the need for vital life-saving surgeries.
Over the past few years, manufacturers have shifted their focus toward emerging regions to meet the increasing demand for Vulcanization Accelerators. Several key players are also focusing on expanding their production capacities, launching new products, conducting Research and Development, and increasing mergers and acquisition activities.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa. |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, India, ASEAN, Oceania, South Korea, Australia, New Zealand, Brazil, Mexico, GCC Countries, South Africa, Turkey |
| Key Segments Covered | Product Type, Application, and Region |
| Key Companies Profiled | Lanxess AG; NOCIL LIMITED; Sumitomo Chemical Co., Ltd.; Arkema; Eastman Chemical Corporation; KUMHO PETROCHEMICAL; Emerald Performance Materials; King Industries, Inc.; Duslo, a.s; Jing Xian Yuelong Metal Rubber Products; Co., Ltd.; Willing New Materials Technology Co. Ltd.; Shandong Stair Chemical & Technology Co., Ltd.; Shandong Yanggu Huatai Chemical Co., Ltd.; Kemai Chemical Co., Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Vulcanization Accelerators market is expected to total USD 1,708.1 Million in 2022.
The Vulcanization Accelerators market has been estimated to exhibit a growth rate of 4.3% between 2022 and 2029 on a value basis.
The automotive segment is expected to contribute a major growth share to the overall market in 2022.
Lanxess AG, NOCIL LIMITED, Sumitomo Chemical Co., Ltd., Arkema, Eastman Chemical Corporation, KUMHO PETROCHEMICAL, Emerald Performance Materials, King Industries, Inc., Duslo, a.s, Jing Xian Yuelong Metal Rubber Products Co., Ltd., Willing New Materials Technology Co., Ltd., are the leading market players.
The demand in China is expected to increase by 6.0 % CAGR between 2022 and 2029 on a value basis.
| Estimated Value (2025) | USD 86,441.3 million |
|---|---|
| Projected Size (2035) | USD 128,201.5 million |
| Value-based CAGR (2025 to 2035) | 4.0% |
| Expected Market Value in 2023 | USD 270 Million |
|---|---|
| Projected Market Value in 2033 | USD 500 Million |
| Growth Rate (2023 to 2033) | 6.4% CAGR |
| Market Estimated Value (2022E) | USD 1,708.1 Million |
|---|---|
| Market Projected Value (2029F) | USD 2,301.6 Million |
| Market Value CAGR (2022 to 2029) | 4.3% |
| Market Value (2022E) | USD 98.9 Million |
|---|---|
| Projected Market Value (2029F) | USD 149.4 Million |
| Value CAGR (2022 to 2029) | 6.1% |
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