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The Rubber Process Oil Global Market Report 2023 by The Business Research Company, provides rubber process oil market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Rubber Process Oil Global Market Report 2023, the market size is expected to grow from $1.95 billion in 2022 to $2.06 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rubber process oil market size is expected to grow to $2.45 billion in 2027 at a CAGR of 4.4%.
Increased consumption of rubber process oils in manufacturing tires is significantly contributing to the growth of the rubber process oil market. Rubber process oils are used in manufacturing automotive tires and tubes, bicycle tires, tire retreading materials, and others. The growing number of automobiles around the globe has contributed to an overall increase in tire demand, resulting in the growth of the rubber processing oil market.
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The rubber process oil market is segmented:
1) By Type: Aromatic, Paraffinic, Napthenic, Mild Extracted Solvent (MES), Residual Aromatic Extracted Solvent (RAE), Treated Distillate Aromatic Extracted Solvent (TDAE)
2) By Application: Rubber Processing, Adhesives And Sealants, Polymer, Consumer Products, Paints And Coatings
3) By End User: Automotive, Construction, Gas And Oil
Top Major Players
Royal Dutch Shell PLC
Chevron Corporation
Petronas Lubricants Belgium N
Nynas AB
ORGKHIM Biochemical Holding
New product innovations have emerged as a key trend gaining popularity in the rubber processing oil market. Major companies operating in the rubber processing oil sector are focused on developing new products that are efficient and sustainable to strengthen their position in the market. For instance, in May 2020, Nynas, a Sweden-based manufacturer and marketer of naphthenic speciality oils and bitumen products, launched NYTEX BIO 6200. NYTEX BIO 6200 delivers significant and quantifiable contributions to sustainability while maintaining and improving technical performance in tire and rubber applications. NYTEX BIO 6200 is created and refined to be a viable replacement for tire and rubber process oils.
The rubber process oil market report table of contents includes:
1. Executive Summary
2. Rubber Process Oil Market Characteristics
3. Rubber Process Oil Market Trends And Strategies
4. Rubber Process Oil Market – Macro Economic Scenario
5. Rubber Process Oil Market Size And Growth
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26. Africa Rubber Process Oil Market
27. Rubber Process Oil Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rubber Process Oil Market
29. Rubber Process Oil Market Future Outlook and Potential Analysis
30. Appendix
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