PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252668
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252668
Rubber Process Oil Market size was valued at USD 2,000.9 Million in 2022, expanding at a CAGR of 3.8% from 2023 to 2030.
Rubber processing oils perform as extenders or plasticizers, enhancing the processability and filter incorporation. Additionally, by enhancing the physical properties of vulcanization, these oils serve to reduce the price of finished rubber compound products. Toys, rubber bands, car tires, and aeroplane parts are all made with rubber process oil.
The transition to electric vehicles in both established and developing countries will support the development of current IC engine vehicles over the upcoming years, as well as the Rubber Process oil industry. Norway, the Netherlands, and Japan are leaders in the market for electronic cars, according to the IEA. According to the IEA's 2018 report, Norway accounted for 46% of worldwide sales of new electric vehicles. The French government announced in 2017 that it would completely outlaw diesel and gasoline-powered vehicles by 2040 and switch to electric vehicles to achieve the "Paris Climate Accord"'s zero-emission goals.
In addition, the rubber processing oil industry has seen a rise in new product innovations as a major trend. To increase their market share, major businesses in the rubber processing oil industry are concentrating on creating innovative products that are both effective and sustainable. For instance, Nynas, a producer and marketer of bitumen products and naphthenic speciality oils with headquarters in Sweden, introduced NYTEX BIO 6200 in May 2020. When used in tire and rubber applications, NYTEX BIO 6200 maintains and enhances technical performance while making substantial, quantifiable contributions to sustainability. To serve as a suitable substitute for tire and rubber process oils, NYTEX BIO 6200 was developed and improved.
The Global Rubber Process Oil Market is segmented based on Type, Application and Region.
Based on the type, the market for aromatic rubber process oils has the biggest share in this industry. Aromatic oils typically have a dark color and excellent solvency. They are also compatible with a variety of rubbers, including NR, SBR, and PBR. It is appropriate for use in the production of beltings, mats, molded rubber parts, automotive & OTR tires, and other products. The double-bonded mix ring carbon structure is one of the main features of aromatic hydrocarbons. The presence of the double-bonded combined ring carbon structure is one of the main characteristics of aromatic hydrocarbons. Aromatic extracts are used in compounding batches to create tires, tubes, hoses, calendar sheets, and other products. These extracts are purchased from carefully chosen factories and properly blended to meet exacting standards.
The rubber process oil industry was dominated by APAC. The economy of APAC is primarily affected by the economic dynamics of nations like China and India, but the current situation is changing due to the increase in foreign direct investment for the development of South East Asia's economy. But because of the COVID-19 worldwide pandemic, it is anticipated that these nations may experience some temporary suffering as well. India and China are anticipated to rule the global automotive industry even in that situation. Because the automotive market in these nations is so much bigger, this region will always have a strong demand for rubber process oil.
In August 2022, the global products division of Valvoline Inc. was purchased by Saudi Aramco, a petroleum and natural gas company headquartered in Saudi Arabia, for $2.5 billion. Valvoline's manufacturing and distribution network, research and development abilities, and partnerships with original equipment makers will be added to Saudi Aramco through this acquisition. (OEMs). Additionally, it completes the premium range of branded lubricant products from Saudi Aramco. Automotive oils, additives, and lubricants are produced and distributed by the US-based firm Valvoline.
This proposed research study on the Rubber Process Oil market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Rubber Process Oil market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Rubber Process Oil market
The impact of COVID-19 on the Rubber Process Oil market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into Rubber Process Oil market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Rubber Process Oil market, we have also included a competitive landscape and key innovator analysis for the Rubber Process Oil market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Rubber Process Oil market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Rubber Process Oil market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
Apar Industries Limited
Behran Oil Company
Gandhar Oil Refinery
Royal Dutch Shell
Chevron Corporation
Petronas Belgium NV
Repsol, HPCL
Panama Petrochem Ltd.
HollyFrontier Corporation
Indian Oil Corporation Ltd
Idemitsu Kosan Co. Ltd.
CPC Corporation
Eagle Petrochem
Rubber Processing
Lubrication
Adhesive & Sealants
Polymer
Paints & Coatings
Pharmaceuticals
Others
Aromatic
Paraffinic
Napthenic
Mild Extracted Solvent (MES)
Residual Aromatic Extracted Solvent (RAE)
Treated Distillate Aromatic Extracted Solvent (TDAE)
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA