Rubber Vulcanization Market

The global rubber vulcanization market is expected to reach a value of USD 11,219.7 million by 2025 from USD 7,824.6 million in 2017, registering a CAGR of 4.94%. In terms of volume, the global market was sized at 2,744.7 KT in 2017; it is projected to reach 3,766.5 KT by the end of 2025 at a CAGR of 4.36%. The growth of the global market is primarily driven by the high demand for rubber in tire production for the automotive & transportation industry. The increasing production and sale of automobiles across the globe on account of the high disposable income and changing lifestyles is projected to propel the global market growth. For instance, the total number of vehicles manufactured in 2017 was 97,302,534 units.

The other major factor positively influencing the global market growth is the growing use of silicone and natural rubbers in the healthcare sector for various applications such as injection parts, gloves, rollers, tubes, as well as mammary prostheses and pacemaker leads. Additionally, the growing use of rubber in consumer goods such as footwear and sports shoes along with industrial applications such as fuel hoses, conveyor belts, and printing rollers is also expected to contribute to the growth of the global market during the forecast period.

The rising use of rubber products such as seals & gaskets, O-rings, pipe, tubing, and hose, sleeves and rubber bladders, washers, grommets, and connectors, couplings, and fittings in the oil & gas industry is expected to create lucrative opportunities for the players operating in the global market. The introduction and gradual adoption of devulcanization technology, by which the devulcanized rubber can be re‐vulcanized and utilized again like a virgin rubber, is a megatrend followed in the global market.

However, the adverse effects associated with soot such as respiratory diseases, acid rain, and nitrogen pollution are expected to hamper the global market growth during the review period.

As per Wantstats analysis, the global market has been segmented by type, technique, end-use industry, and region. By type, the global market has been divided into vulcanizing agent, accelerators, activators, and others. The vulcanizing agent segment is further sub-segmented into sulfur, tellurium, selenium, metallic oxides, and others. The accelerators segment is sub-segmented into dithiocarbamate, dithiophosphate, sulfenamides, xanthates, and others. The accelerators segment accounted for a major market share of 40.4% in 2017 and projected to reach USD 4,710.0 million by the end of the forecast period. Based on the technique, the global market has been divided into sulfur vulcanization/traditional vulcanization and other curing techniques. The sulfur vulcanization segment dominated the global market in 2017, with a value of USD 5,999.3 million. It is projected to register a significant CAGR of 5.00% during the assessment period. By end-use industry, the global market is segmented into automotive & transportation, industrial, consumer goods, healthcare, and others. The automotive & transportation industry is the major consumer of vulcanized rubber products and is expected to register a significant CAGR to reach USD 6,916.9 million by 2025.

The global rubber vulcanization market, by region, has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific emerged as the fastest growing region, accounting for 48% of market share in 2017. This is attributed to the high production of rubber in ASEAN countries such as Thailand, Indonesia, Malaysia, Vietnam, and India coupled with low-cost labor. Furthermore, the growth of the regional market is also driven by the high production and sale of automobiles in countries such as China, Japan, India, and others. The production of automobiles in China stood at 29,015,434 units, which is the highest across the globe whereas 9,693,746 units were manufactured in Japan in 2017.