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Chemical Accelerators Market by Type (Primary Accelerators, Secondary Accelerators) by Application (Chemical Industry, Medical, Others): Growth, Future Prospects, and Competitive Analysis, 2015 - 2027

Market Insights

Chemical substances used to mix, bond, and disturb other chemicals or substances in order to alter the speed of an artificial or a chemical process are called Chemical Accelerators. Thiurams, sulfenamides, guanidines, xanthates, and dithiocarbamates are some prominent chemical accelerators currently used. Chemical Accelerators are different from catalysts reason being they are not consumed by the chemical process. The Chemical Accelerators were growing in popularity among end-users and projected to witness rapid growth over the span of the analytical period. The global market value of the Chemical Accelerators industry is targeted to cross USD 8,000 million by the end of 2027, growing from USD 3,200 million in 2020 at a CAGR of 10.75%.

Chemical Accelerators Market

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Robust Growth of the Chemical Industry

The chemical industry mainly drives Global Chemical Accelerators Market. In most industrial chemical processes, the use of Chemical Accelerators is inevitable to complete the process successfully. Rubber vulcanization and the cement industry are major outlets for Chemical Accelerators. Chemical Accelerators are used in the cement industry to achieve desired curing time. Rubber vulcanization is another important market for Chemical Accelerators as it reduces the activation energy in this process. Rubber vulcanization is a very broad industry with a large number of articles being manufactured via this process. Different articles need different properties to be induced in rubber and hence demand various types of Chemical Accelerators accordingly. For instance, the glover manufacturing process requires Chemical Accelerators that can lend desired strength and flexibility to the liquid materials. Such Chemical Accelerators achieve the end results by hastening the linkage of natural rubber molecules.     

Consequences of Impact of COVID 19

The chemical industry was affected to a great extent by the outbreak of COVID 19. Over the past year, the chemical industry has concentrated in Asia. Disturbances in the supply chain due to restriction on mobility has caused a significant drop in production as well as consumption of different chemicals. As a result, the demand, as well as production of Chemical Accelerators, was badly impacted. In line with COVID 19 subsequence, the Chemical Accelerators industry is likely to record a decline of around 20%.

Chemical Accelerators Market


The Asia Pacific to Hold Pivotal Position in Driving Demand for Chemical Accelerators

The Asia Pacific is leading production as well as consumption of Chemical Accelerators. With its huge installed capacity, Asia Pacific is also a leading exporter of Chemical Accelerators. China, India, Japan, and South Korea have established markets. At the same time, Vietnam, Thailand, Malaysia, and Indonesia are poised to play a crucial role in the future market growth of Chemical Accelerators in the region. Demand from India and China is driven by the cement industry, while Vietnam, Thailand, Malaysia, and Indonesia are thriving in demand for Chemical Accelerators in rubber vulcanization applications.

Europe and North America also accounted for the notable consumption, with a significant volume imported from Asia. The Middle East & Africa, and Brazil are niche regions for Chemical Accelerators. However, Egypt, Saudi Arabia, Brazil, etc., will likely gain a significant position in the future.

However, many players' frequent ups and downs in the economy, fluctuating raw materials prices, declining margins, and rising fuel prices have presented a crucial challenge for the industry participants.

The secondary chemical accelerators dominate the Global Chemical Accelerators market.

Primary chemical accelerators and secondary chemical accelerators are two types of chemical accelerators. Secondary chemical accelerators dominate the industry as they are used in manufacturing myriads of chemicals and pharmaceuticals. The huge demand for secondary chemical Accelerators can be attributed to glove manufacturing in the medical industry and the vulcanization of rubber for commercial purposes. Rubber vulcanization is one of the commodity industries with a huge yearly production volume. Therefore, robust demand for Chemical Accelerators in rubber vulcanization is expected to remain a major factor driving the growth of this industry.

The chemical industry holds the major share in the global demand for Chemical Accelerators Market.

The Global Chemical Accelerators market is segmented based on applications such as chemical industry, medical, and others. Both types of Chemical Accelerators find wide-ranging applications across a host of industries. Chemical Accelerators are predominantly used in manufacturing a large number of chemicals. Therefore, a large chunk of its revenue stems from the chemical manufacturing industry. However, the medical industry is also a notable consumer of Chemical Accelerators for a while and is likely to offer a new growth avenue for the manufacturers of Chemical Accelerators during the projected period.

Agreements & collaborations is a key strategies perused by the major players in this industry. Most prominent global Chemical Accelerators market players include AkzoNobel N.V., Arkema S.A., BASF SE, Solvay S.A., and LANXESS AG. Despite all hurdles, major players such as BASF SE have achieved positive revenue growth during the pandemic period.

Frequently asked questions about global Chemical Accelerators industry

Chemical Accelerators industry has witnessed almost 20% decline in its market size owing lock down imposed by most of the countries around the world to confine spread of COVID 19 virus

Largest chunk of total revenue generated by the global Chemical Accelerators industry was grabbed by the major players including AkzoNobel N.V., Arkema SA, BASF SE, Solvay SA and LANXESS AG.

The global Chemical Accelerators market to witness double digit CAGR from 2021 to 2027

Chemical Accelerators industry is expected to face major challenges from increasing trend of “Go Green”. In response to this trend, many companies are focusing on manufacturing products which does not contain any kind of Chemical Accelerators. Chemical Accelerators free gloves are growing in popularity among medical industry

Chemical Accelerators industry is in maturity state and major economies such as U.S., Europe, China, Japan, etc. has less to offer for future growth. However, flourishing end-user industry in Vietnam, Thailand, Malaysia and Indonesia is expected to present significant growth opportunities for the investors

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Published Date:  Apr 2021
Category:  Chemicals
Report ID:   60319
Report Format:   PDF
Pages:   120
Rating:    4.3 (58)
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