The global rubber antioxidant market is anticipated to witness a significant growth in the coming years banking on the inherent properties of rubber. Rubbers are known to lose their mechanical and physical properties owing to heat, light mechanical stress, ozone, etc., this tremendously impacts the performance of rubber products thus leading to a heavy loss to the manufacturers. Rubber antioxidant are applied to avoid the mechanical and physical properties of rubber. Another factor that is driving the rubber antioxidant market is that they protect rubber products and tires. Banking up properties such as low reactivity, low migration, and low volatility, rubber antioxidant are used extensively by various industries in the global rubber antioxidant market.
Incessant rise in automotive industry all across the world is rising the demand for tires, which is directly influencing the growth of the global rubber antioxidant market. Rising tire industry to compete against automotive industry is likely to bolster the demand of market. Increasing popularity of rubber antioxidants in manufacturing of dynamic and static heavy capacity rubber like tire cable, belt, and tube is expected to augment the sales rate of the overall market. However, on the other hand, rising environmental concern regarding the use of rubber antioxidant is anticipated to deter the growth of the global rubber antioxidant market. Toxic nature of rubber antioxidant is known to last long on environment, this is likely to become a massive roadblock in the global rubber antioxidant market growth.
What Application of Rubber Antioxidant is expected to Hold Major Share?
On the basis of application, the global rubber antioxidant market is segregated into convenor belts, tubes, hoses, transmission belts, tires, and others. Amongst these, tires holds the significant share and is anticipated to retain its position in years to come. Tires witness a surge in demand from the expanding automobile industry all across the world. Rise in disposable income, rapid urbanization, and change in lifestyle have heighten the demand from automobile industry, thus having a direct impact on the global rubber antioxidant market. Rubber antioxidant are applied on rubber to improve the heat ageing properties of rubber. This also helps to increase flexibility and antifriction of the rubber that is used in tires.
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Which Region Leads the Market and Why?
On the basis of geography, the global rubber antioxidant market is likely to be dominated by Asia Pacific owing to rise in uptake of the market product in the automotive industry. Stupendous growth rate of automotive industry in the region is likely to help the market grow. Europe and North America are likely to hold second position, owing to the presence of large and established number of automotive players in the global rubber antioxidant market. Robust expansion of tire and rubber industry in Latin America and Middle East and Africa is likely to exhibit a steady growth rate.