Future Market Insights (FMI) has forecasted the Vulcanization Accelerators market to grow with a year-on-year growth of 3.8% in 2022 reaching a value of about USD 1,708.1 Million by 2022 end. The global business is anticipated to witness a considerable CAGR of 4.3% during the period of 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% |
| Vulcanization Accelerators 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 the end users is the key factor behind the downfall in the growth of the market. Vulcanization accelerators are slightly toxic coupled with the presence or development of less toxic alternatives to the product, demand is likely to be hampered as compared to previous years.
Further owing rise in the price of commodity products and ongoing geopolitical tensions are also impacting the growth of the market.
Future Market Insights anticipates a comparison and review analysis of the dynamics of the market for vulcanization accelerators, which is primarily influenced by several industry-specific factors as well as 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 as well as developing nations.
Additionally, growing tire production capacity and an abundance of inexpensive raw material supply in developing nations like China, India, and ASEAN nations 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, but in coming years the growth is expected to bounce back to its original pace.
Increasing industrial activity, growing automobile output, and rising medical expenditure in established and developing economies are likely to 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, in developed economies, the development of high-performance tires will result in moderate market growth.
The market is expected to witness attractive growth opportunities in near future owing to its higher consumption in the automotive & medical industries which is anticipated to boost the demand for Vulcanization Accelerators.
Principal Consultant
Vulcanization accelerators are essential in the automobile sector since they are used in the production of tyres, 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 tyre replacement, consumer goods, and medical treatments.
The market is predicted to increase rapidly, particularly in India and China, which would drive global automotive (passenger car) demand. 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 have a beneficial impact on the Vulcanization Accelerators market since a single automobile unit will be equipped with rubber-based auxiliary parts and tyres.
Tire production is continuously increasing in tandem with rising automobile sales and aftermarket operations. Accelerators for vulcanization are commonly used in tyre manufacture to expedite processes and improve tier properties. Vulcanization accelerators also have a favourable impact on the operating rate by boosting the rate of reaction.
As a result, rising tyre usage is propelling the vulcanization accelerator market forward. Increasing consumption of the compound in the automotive segment is anticipated to boost the demand in near future & expected to reach about USD 2,301.6 Million by the year 2029.
As per FMI, the USA is projected to account for a major share of the global Vulcanization Accelerators market. The demand for vulcanization accelerators is increasing due to the existence of major tyre manufacturers such as Bridgestone, Goodyear, Michelin, Continental, and Pirelli. Increased tyre imports from Chinese producers, on the other hand, are slowing tyre output in North America.
The growing fleet size of passenger cars, light trucks, and heavy trucks is driving up demand for replacement tyres.
This will have a direct influence on 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 expenditure, on the other hand, have a beneficial impact on the growth of the vulcanization accelerators market.
As a result, the rising need for vulcanization accelerators is driving up demand for industrial and medical rubber goods. Despite the United States' dominance, Canada is predicted to overtake the United States in the next years as a result of expanding opportunities in the medical sector and custom industrial component design. The USA is expected to reach about USD 240.8 Million by the year 2029.
The market is expected to gain traction at 3.2% CAGR between 2022 and 2029. For the Eastern Europe region, Russia is expected to dominate the European market in the forecast period.
The market for Vulcanization Accelerators in Europe is predicted to grow at a moderate rate. Growing demand for green tyres in the region as a result of labelling initiatives is expected to boost the 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 tyre production and tyre 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 tyres 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 manufacture in China is increasing steadily. Local manufacturers, on the other hand, are being harmed by fluctuating raw material prices as a result of trade disputes and material overstock. Furthermore, the enforcement of strict rules on tyre exports from European countries and the United States is projected to exacerbate tyre makers' troubles.
China and Japan are two of the world's largest tyre producers. The need for tyres in East Asia will rise as the population, standard of living, and manufacturing of electric vehicles rise, positively impacting the East Asia Vulcanization Accelerators Market.
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The medical industry is expected to grow at a prominent value of 4.3% CAGR, over the forecast period of 2022 to 2029.
Tubes, surgical gloves, condoms, breathing bags, cushioning or supporting materials, prosthesis, 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 the manufacturing of 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, a shift of manufacturers and their focus toward emerging regions has been witnessed to meet the increasing demand for Vulcanization Accelerators. Several key players are also focusing on expanding their production capacities, new launches, Research and Development, and increasing mergers & acquisition activities.
For Instance:
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive and is only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| 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.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2014 to 2021 and Forecast, 2022 to 2029 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2014 to 2021 and Forecast, 2022 to 2029 8. Market Background 9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Product Type 9.1. Thiozoles 9.2. Sulfanamides 9.3. Dithiocarbamates 9.4. Thiuram 9.5. Others 10. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Application 10.1. Automotive 10.2. Industrial 10.3. Medical 10.4. Consumer Goods 11. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Middle East and Africa (MEA) 11.5. East Asia 11.6. South Asia 11.7. Oceania 12. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 13. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029 14. Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029 15. South Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029 16. East Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029 17. Oceania Market Analysis 2014 to 2021 and Forecast 2022 to 2029 18. Middle East and Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029 19. Emerging Countries Market Analysis 2014 to 2021 and Forecast 2022 to 2029 20. Competition Analysis 20.1. Lanxess AG 20.2. NOCIL LIMITED 20.3. Sumitomo Chemical Co., Ltd. 20.4. Arkema 20.5. Eastman Chemical Corporation 20.6. KUMHO PETROCHEMICAL 20.7. Emerald Performance Materials 20.8. King Industries, Inc. 20.9. Duslo, a.s 20.10. Jing Xian Yuelong Metal Rubber Products Co., Ltd. 20.11. Willing New Materials Technology Co., Ltd. 20.12. Shandong Stair Chemical & Technology Co., Ltd. 20.13. Kemai Chemical Co., Ltd. 20.14. Shandong Yanggu Huatai Chemical Co., Ltd. 21. Assumptions and Acronyms Used 22. Research Methodology
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Vulcanization Accelerators Market
