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Global Rubber Compound Was Valued USD 8737 million in 2019 and Will Keep Sluggish Growth – QY Research

Author: QYResearch  |   Published Date: 2020-11-04   |   Views: 121



QY Research has published with a new report on the global rubber compound market. The global rubber compound market is valued at USD 8737 million in 2019 and is expected to reach USD 8333 million by the end of 2026, growing at a CAGR of 4.14% between 2020 and 2026.

Compounding is the process of adding additives, fillers, polymers, or reinforcements to polymer materials in a homogeneous polymer mixture to optimize properties to meet a given set of performance requirements. A rubber compound could be a combination of 3 to 15 different ingredients of thousands of different compositions and vendors.

Global Rubber Compound Market: Driver Analysis

Rubber compound is widely used in automotive sealing strips, gaskets, sealing systems, components, hoses, etc. Automotive industry is a huge market. With the improving of life quality, more and more people has rigid demand for automobile. The automotive industry has boosted related industry’s development, such as automotive components. Demand from automotive industry support rubber compound industry.

Besides automotive industry, building & construction industry also stimulates the demand of rubber compound. Rubber has special properties to offer in comparison with other construction materials. The elongation in some cases can be more than 1,000% and for the most part in the elastic range. There are wide varieties of rubber products used in the rubber industry. First of all rubber tires and rubber tracks are the most commonly used rubber products in the construction industry. The excavators, the cranes, fork lifts, concrete mixer machines, caterpillar, lift truck etc. used in various construction purposes are all fitted with tires and tracks made of rubber. Industrial rubber products are highly demanded in the construction industry.

Global Rubber Compound Market- Type Analysis

The rubber compound can be classified as EPDM compounding, SBR compounding, BR compounding, natural rubber compounding, NBR compounding, silicone rubber compounding, etc. EPDM compounding is the largest segment. Ethylene propylene diene monomer (EPDM) is a high-density rubber that is very durable. EPDM has some characteristics that make it especially suitable for gaskets, electrical insulation and lamination. EPDM can be finished to an extremely smooth surface. EPDM has great resistance to abrasives, tearing, solvents and high temperatures. EPDM has excellent flexibility at high and low temperatures. EPDM rubber is used in vibration dampening components, seals, glass-run channels, radiators, garden and appliance hoses, tubing, automotive and appliance seals, belts, electrical insulation. It is also used for roofing membranes, geomembranes, rubber mechanical goods and many other applications.

SBR compounding is the follower of EPDM compounding. In 2019, 17.66% compounding is the SBR type.

Global Rubber Compound Market- Key Players

Hexpol Compounding, PHOENIX Compounding, Cooper Standard, Hutchinson, Polymer-Technik Elbe, Elastomix, AirBoss of America, Chunghe Compounding, Dongjue Silicone Group, KRAIBURG Holding GmbH, Dongguan New Orient Technology, Guanlian, American Phoenix, Haiyu Rubber, Dyna-Mix, Katosansho, TSRC, Shin-Etsu , Condor Compounds GmbH, Siamnavakam, are some of the key players, functioning in the global Rubber Compound market. Hexpol Compounding is the global leader of rubber compounding. In 2019, 671 K MT rubber was sold by Hexpol Compounding globally.

Global Rubber Compound Market- Region Analysis

North America, Europe, Asia-Pacific, Latin America, Middle East & Africa are analyzed in the report. The United States, China, Japan, South Korea, Germany, France, Mexico, and Italy are the world's major consumption regions. China is experiencing a shift from rapid development to slower development, which has been reflected in a slowdown of growth in the rubber and relevant industries as well.

 

Read More Information: https://www.qyresearch.com/index/detail/1973096/global-rubber-compounds-market

 

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