The global rubber masterbatch market size is expected to gain prominence in the upcoming years owing to the booming growth of the construction industry, finds Fortune Business Insights™ in its report, titled “Rubber Masterbatch Market Size, Share & Industry Analysis, By Type (Natural, Synthetic), By Application (Tires, Rubber Pipes, Rubber Shoes, Others) and Regional Forecast, 2021-2028”. Rubber masterbatches are essential components in the formulation of rubber products. These additives are widely adopted in the production of pipes that are used in buildings and other constructions to supply water to houses and transport waste from residential and commercial spaces. The promising projections of the growth of the construction industry are likely to create plenty of lucrative opportunities in this market. According to Global Construction Perspectives and Oxford Economics, construction output worldwide will surge at a rate of 85% over the next decade, hitting a value of USD 15.5 trillion by 2030. Even amidst the current pandemic, Oxford Economics estimates that the global construction industry will grow by 35% and reach USD 5.8 trillion. The demand for rubber additives and other materials necessary for the production of pipes for houses and offices will, therefore, surge in the forthcoming decade.
What Does the Report Offer?
- Elaborative overview of the industry trends and outlook;
- Actionable research into the performance of all market segments;
- Granular analysis of the market drivers and restraints; and
- Comprehensive assessment of the competitive landscape & regional dynamics in the market.
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Severe Downturn in the Auto Industry amid COVID-19 to Stall Market Growth
The multiple shocks delivered by the COVID-19 pandemic on the automotive industry have had spill-over effects on markets associated with this mammoth industry, such as the tire market. Rubber is the chief ingredient for the manufacture of tires, and rubber masterbatches are critical in managing the weight, composition, and durability of tires. However, the coronavirus-induced lockdowns and social distancing measures have spelled disaster for the auto industry. For example, in March 2020, Volkswagen announced closure of its plants in Italy and Spain, while granting paid leaves to its employees at its plant in Tennessee, USA, as the country underwent a lockdown. Similarly, other large European automakers such as Fiat Chrysler and PSA Group also declared temporary shutdown of their plants across Europe. Compounding this was the sharp decline in the demand for vehicles as remote working models were adopted by several organizations worldwide. For example, the Oxford Business Group estimates that the demand for light vehicles in Europe fell by 44% in April 2020. As a result, tire manufacturing and supply has also been impacted, which has hampered the rubber masterbatch market growth.
Thriving Startup Culture to Propel the Asia Pacific Market
Asia Pacific is holding commanding position in the global market due to a sudden proliferation of startups specializing in rubber technologies. Strong governmental support in countries such as India and Malaysia to such enterprises is further fueling investments in this niche domain. Besides this, rapid industrialization is also anticipated to raise the demand for advanced rubber formulations.
North America is predicted to strengthen its position in the rubber masterbatch market share in the forthcoming years owing to the increasing research into rubber additives and chemicals in the US. In Europe, soaring demand for lightweight vehicles and sustainable tire-manufacturing materials is stoking the adoption of masterbatches in rubber.
Development of Novel Products to Enhance Competitive Potential of Key Players
With an aim to gain a decisive edge, key players in this market are constantly engaged in developing path-breaking masterbatch solutions for diverse end-use industries. To that end, companies are making heavy investments in research and development activities, which are also allowing them to introduce innovative productions in the market on a regular basis.
- September 2019: PolyOne announced the commercial availability of its new color concentrate, OnColor™ RC Environmental Black. The product has been extracted from end-of-life tires and PolyOne is positioning it as a sustainable alternative to its counterparts based on virgin carbon black.
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List of Key Players Profiled in the Rubber Masterbatch Market Report:
- Jiangsu Lianlian Chemical Co Ltd
- Hebe Rubber Products Sdn Bhd
- Guangzhou Chengbang High-Tech Materials Co., Ltd
- Milagro Rubber Co.
- Ningbo Actmix Rubber Chemicals Co., Ltd
- Intertex World Resources Inc.
- Universal Masterbatch
- Titron Rubber Industries (M) Sdn Bhd
- Versalis S.p.A
- EcoWise Holdings Ltd
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