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Freedonia Forecast: Global Rubber Processing Chemicals Market to Benefit from Healthy Growth in Key Industries & Rising PHR Rates

CLEVELAND, Feb. 20, 2020 /PRNewswire/ --A Global volume demand for rubber processing chemicals is expected to expand 4.2% per year through 2023, supported by:
Freedonia Forecast: Global Rubber Processing Chemicals Market to Benefit from Healthy Growth in Key Industries & Rising PHR Rates


healthy anticipated growth in key industries, such as motor vehicle production, where antidegradants, the largest product group, are used intensively on tires to allow them to function properly in harsh conditions



projected increases in average chemical use rates in terms of parts per hundred rubber (PHR) a?? for example, rising standards for tire lifespans and the popularity of tires for use in a wide range of conditions will support gradual increases in antidegradant PHR rates

Tires to continue to represent majority of global demand through forecastTires will continue to represent the majority of demand for rubber processing chemicals through 2023, with gains supported by:

increasing motor vehicle ownership rates and expanding motor vehicle production in low- to middle-income regions, such as Central and South America and Eastern Europe



stricter performance requirements of tires in higher income areas such as the US and Western Europe

Tire manufacturers are increasingly paying attention to maximizing all aspects of the "magic triangle" a?? good fuel economy, tread life, and wet traction a?? rather than accepting deficits in one area to benefit another. This trend has resulted in a growing market share for premium tires with more specialized formulations, which generally requires greater chemical loadings.
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