1、 Overview

Rubber additives refer to a series of fine chemical products added during the processing of natural rubber or synthetic rubber into rubber products, which are used to endow rubber products with performance, ensure the service life of rubber products, and improve the processing performance of rubber materials. At present, rubber additives are mainly divided into vulcanization system additives, protective system additives, operating system additives, reinforcement filling system additives, bonding system additives, and other additives.

2、 Industry chain analysis

1. Industrial chain

The rubber additive industry is a branch of the fine chemical industry, and its upstream raw materials mainly come from the petrochemical industry (aniline, tert butylamine, cyclohexane, nitrobenzene, etc.), salt chemical industry (liquid alkali, chlorine gas, etc.), coal chemical industry (hydrochloric acid, etc.), and other categories (sulfur, carbon disulfide, etc.). The downstream market of rubber additives mainly involves the production of various rubber products, including tires, rubber hoses, rubber belts, rubber sheets, and rubber shoe soles. Among them, tires and automotive rubber products are its main application areas.

2. Upstream analysis

Aniline is the main production raw material for rubber additives and can be directly used to manufacture antioxidants such as TMQ, 6PPD, and MBT. In recent years, due to the continuous rise in oil prices and the hot downstream MDI market, the price of aniline has risen significantly, which has to some extent affected the development of China's rubber additive industry.

3. Downstream analysis

Tires are the largest downstream application field of rubber additives. From the perspective of China's tire production, due to factors such as overcapacity in the industry and sluggish automotive market, the production of rubber tire outer tubes in China continued to decline from 2016 to 2018. With the upgrading of production technology in the tire industry and the recovery of the demand market, the production of rubber tire outer tubes in China began to rebound in 2019. In 2021, the production of rubber tire outer tubes in China was 899.108 million, a year-on-year increase of 9.9%.

3、 Industry status quo

1. Production

Rubber additives are important auxiliary raw materials in the rubber industry, playing an important role in improving rubber processing technology, saving energy, and improving product quality. They are known as the "monosodium glutamate" of the rubber industry. With the rapid development of China's rubber additive industry in recent years, China has become a major producer and supplier globally. According to data, the production of rubber additives in China in 2021 was 1.37 million tons, a year-on-year increase of 10.6%.

2. Yield structure

From the perspective of production structure, in 2021, the production of anti-aging agents in China's rubber additive products was 414500 tons, accounting for% of the total production; The production of accelerator is 356700 tons, accounting for a proportion of; The production of processing aids is 292800 tons, accounting for a proportion of; The production of vulcanizing agents and peroxides is 172500 tons, accounting for a proportion of; The production of special functional additives is 133800 tons, accounting for a proportion of.

3. Sales revenue

From the perspective of industry sales, thanks to the growth of demand, the sales of China's rubber additives industry also continued to grow from 2015 to 2018. During the period of 2019-2020, sales decreased due to factors such as declining sales and the pandemic. By 2021, the sales revenue of rubber additives in China reached 28.9 billion yuan, a year-on-year increase of 32%.

4. Output value situation

From the perspective of industry output value, similar to sales revenue, the output value of China's rubber additive industry gradually increased from 2015 to 2018, and declined slightly from 2019 to 2020. By 2021, the output value of rubber additives in China reached 29.5 billion yuan, a year-on-year increase of 32.9%.

5. Enterprise situation

With the continuous development of rubber additives in China in recent years, the market size has continued to expand, and the number of industry enterprises has also continued to grow. According to data, the number of registered enterprises in China's rubber additive industry in 2021 was 5300, a year-on-year increase of 47.3%.

6. Export trade

From the perspective of China's rubber additive export trade, in recent years, the export volume of rubber additives has basically stabilized. In 2020, due to the impact of the epidemic, the export volume and export amount slightly decreased. With the epidemic being controlled, the export volume began to rebound. According to data, the export volume of rubber additives in China in 2021 was 375600 tons, with an export amount of 9.2 billion yuan.