Global Rubber Process Oil Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 3.80% during the forecast period that is 2017-2025. Asia Pacific held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
As the name defines rubber processing oil is used in the manufacturing process of various runner components and products. Rubber process oil, both synthetic and natural is commercially used to manufacture products from rubber bands to a toy to the giant tires for various vehicles including aircrafts. It is used during mixing of rubber compounds and mainly used in improving the dispersion of fillers and flow characteristics of the compound during further processing. The rubber process oil is highly compatible with aromatic rubbers which contain less toxic polynuclear aromatic compounds than conventional aromatic rubber process oil. Some f the known type of the rubber process soil includes aromatic, naphthenic and paraffinic.
The global rubber process oil market was valued at around USD 1,850 million in the year 2017, and it is anticipated grow at CAGR of 3.80% during the assessment period of 2017-2025. One of the major applications of rubber process oil is in the rubber processing to improve the properties and impart dispersion. Rising type production to cater the consistently growing demand from transportation industry is the prominent factor propelling the demand for rubber processing oil. Flourishing automotive industry in Asia Pacific, wherein, highest vehicle manufacturing and sales registered is also contributing significantly in this market.
Over the past few years, most of the process of industry players is adopting naphthenic base oil as a prime ingredient for processing oil. These manufacturers are planning to incorporate new technologies in the process oil manufacturing. Rubber process oil expected to play a key role in the this process being used as a process oil. Rise in the production process oil due to high demand from various end use industries is promoting the adoption of rubber process oil thereby driving the growth of this market. Driven by these factors growth of this market is restrained by, ban on the use of polylactic aromatic hydrocarbon in the type manufacturing.
Furthermore, since crude oil is the sole raw material of rubber processing oil, fluctuating price of crude oil is further expected to challenge the overall market growth over the forecast period. Neverthless, gradually growing demand for green rubber process oil is anticipated to come up with new growth opportunities over the forecast year.
The global rubber process oil market is segmented into types, application, and region. Based on type, the rubber process oil market is segmented into treated distillate aromatic extracted (TDAE), distillate aromatic extract, mild extracted solvate, residual aromatic extract (RAE) and treated residual aromatic extract (TRAE), paraffinic, and naphthenic. On the basis of application the market is bifurcated into tire, footwear, wire and cable wiring, flooring material, and others. Tire is the most prominent segment for rubber process oil due to vast demand for tires in the automotive industry.
The global rubber process oil market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific -India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil, Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. Asia Pacific dominated the global rubber processing oil market in 2017 and is also expected to be the largest one during the forecast period. China registered highest automotive production of more than 95 million vehicles including commercial and passenger vehicles in 2017. The country also registered largest vehicle sales in the simile year. This has resulted into extensive demand for tires which further results into demand for rubber processing oil. India also generating healthy demand for tires due to significant two wheeler automobile sales.
Global Rubber Process Oil Market Size, Share Analysis By Region 2017
North America second largest market for rubber process oil, wherein, the U.S. is majorly contributing in the overall regional growth. Use of naphthenic oil and technologically strong nature of this region is driving the demand for rubber process oil.
Major players analyzed and profiled in the global rubber process oils market include Total S.A., Shell International B.V., Raj Petro Specialities P. Ltd., Petro China Company Limited, Nynas AB, Lukoil, Hollyfrontier Corporation, H&R International GmbH, Exxon Mobil Corporation, Ergon Inc.
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