The increasing demand for Rubber Process Oil in automotive industry owing to the rise in demand for consumers and growth in population and urbanization are propelling the market growth.
New York, NY -- (SBWIRE) -- 04/26/2021 -- The global Rubber Process Oil Market is forecast to reach USD 2,927.6 Million by 2028, according to a new report by Reports and Data. These oils are special internal lubricants that are used in the formulation of rubber, improve its physical attributes, work as cost-effective extenders, encourage the fuse of fillers and different added substances, and others.
The market for such lubricants is influenced by the rising urbanization and industrialization. The rising applications of adhesives and sealants and rubber products are booming the demand for rubber process oil. The automotive industry is depended on this market for manufacturing of tires, door liners, car floor mats, belts, gloves, and many others. The cost price of crude oil continuously fluctuates, and strict government regulations are creating a market restraint.
The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of aromatic hydrocarbon used in rubber products manufacturing add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the rubber lubricant market owing to innovative efforts have improved the efficiency of rubber process oil.
In the Asia Pacific region due to the sudden rise in population and rapid urbanization, the market for rubber lubricants is propelling at a swift rate. The rising economy in counties like China, India, and Japan due to favorable political, social, and economic conditions has shown a significant rise in this market. Gas and oil industries and automotive industries of the APAC region are using these rubber oils for the production of adhesives, and sealants used in pipelines and houses.
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Further key findings from the report suggest
Automotive and transportation industries held the largest market share of 34.5% in the year 2018. Rubber process oil products are used in the production of automotive tubes and tires, belts, hoses, tires rethreading material, and many others. These lubricants provide good affinity and are favorable for use with SBR, PBR, natural rubber, and CR. The products of this market have high affinity, high strength, controlled deformation, and abrasion resistance.
The TDAE (Treated Distillate Aromatic Extract) segment is forecasted to witness the highest CAGR of 5.6% during the forecast period. This segment is rising since the European Union has banned the use of DAE due to its toxicity.
Rubber processing held the largest market share of 32.6% in the year 2018. The process oil industry is growing in this segment due to the rising demand for rubber accessories in the automobile industries due to rapid urbanization. These lubricants, when added to rubber, improves the processability of the rubber polymers.
Asia Pacific is expected to witness the highest CAGR of 6.1% during the forecast period. These rubber oil lubricants improves the quality of vulcanization and makes the end products affordable for the end-users. Countries like India, China, Taiwan, Indonesia, and Japan are rapidly catching up with the growth in the rubber processed oil market.
Key participants Repsol S.A, Chevron Corporation, Nynas AB, Witmans Industries Pvt. Ltd., Gulf Petroleum Ltd., Behran Oil Company, ORGKHIM Biochemical Holding, Royal Dutch Shell PLC, Petronas Lubricants Belgium NV, and Gandhar Oil Refinery Limited, among others.
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For the purpose of this report, Reports and Data have segmented into the global Rubber Process Oil market on the basis of type, application, end-users and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Rubber Processing
Adhesives & Sealants
Polymer
Consumer Products
Paints & Coatings
Pharmaceuticals
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
RAE (Residual Aromatic Extract) & TRAE (Treated Residual Aromatic Extract)
Naphthenic
TDAE (Treated Distillate Aromatic Extract)
Paraffinic
MES (Mild Extracted Solvent)
DAE (Distillate Aromatic Extract)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Automotive
Construction
Gas and Oil
Others
Regional Outlook (Revenue in USD Billion; 2017–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Rubber Process Oil Market Segmentation & Impact Analysis
4.1. Rubber Process Oil Market Material Segmentation Analysis
4.2. Industrial Outlook
……………
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Repsol S.A
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Chevron Corporation
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Nynas AB
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Witmans Industries Pvt. Ltd.
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Gulf Petroleum Ltd.
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Rubber Process Oil market and its competitive landscape.
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