USD 4.8 billion
Global Rubber Process Oil Market Size, Share, Growth Analysis, By Type(Carcinogenic, Non-carcinogenic), By Application(Rubber processing, Adhesives and sealants) - Industry Forecast 2024-2031
Report ID:
SQMIG15F2171 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
70 |
Figures:
70
Global Rubber Process Oil Market Insights
Global Rubber Process Oil Market size was valued at USD 4.8 billion in 2022 and is poised to grow from USD 4.90 billion in 2023 to USD 5.79 billion by 2031, growing at a CAGR of 2.1% in the forecast period (2024-2031).
Rubber oil enhances the quality of the rubber used in tires. Increasing standard of living and increasing spending power of the population are factors that are likely to drive the global demand for automobiles. For example, according to the OICA, the number of cars produced worldwide in 2022 is 61.59 million, which means an increase of 8% compared to 2021 and 10% compared to 2020. So they look likely that the mass production of passenger vehicles will boost the demand for the market .
Moreover, the automotive industry in Germany is hampered by the lack of semiconductors and raw materials. Similarly, other measures, such as the implementation of the new coordinated global light vehicle testing program (WLTP) and the US. and China’s trade dispute, which has reduced international demand for cars, new EU emissions standards requiring car manufacturers to cut average emissions. The 95 grams per kilometer mandatory CO2 emissions requirement for newly sold cars had adversely affected the performance of the passenger car.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Rubber Processing
Growth Rate
2.1% CAGR
Global Rubber Process Oil Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Rubber Process Oil Market By Application (%)
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Global Rubber Process Oil Market Segmental Analysis
Based on type, the rubber process oil market is segmented into carcinogenic, non-carcinogenic, naphthenic, TDAE (treated distillate aromatic extract), and paraffinic, MES (mild extracted solvent), DAE (distillate aromatic extract), RAE (residual aromatic extract) and TRAE treated residual aromatic extract. The rubber process oil market is also segmented on the basis of application into rubber processing, adhesives and sealants, polymer, consumer products, paints and coatings and pharmaceuticals. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Analysis by Application
Polymer applications are the second largest segment by 2022, in terms of value. Activated oils are used in the polymer industry as plasticizers, catalyst carriers, expanding oils, mold release agents, and pigment dispersants These oils improve plastic wettability, expand the range of usable substrates and plasticize which is more convenient
Rubber-based oil production (RPO) plays an important role in driving demand in the market. Oil rubber is a special oil used in the manufacture and production of rubber products. The largest users of rubber oil are tire manufacturers. Tires are an important part of a variety of applications, including cars, bicycles and motorcycles. As global demand for automotive and transport rises, the tire manufacturing industry is also expanding, increasing the demand for rubber oil.
Analysis by Type
The non-carcinogenic method is the second largest category by 2022, in terms of value. Use of carcinogen-free working oils helps improve the tire’s corrosion resistance and rolling resistance. Styrene-butadiene rubber (SBR) is manufactured by tire manufacturers using non-carcinogenic oils.
The term "carcinogenic component" is rarely used in the rubber oil market, and it is important to clarify that substances known to cause or potentially cause cancer are generally worn under strict regulations and safety considerations. It is under regulatory scrutiny to ensure compliance with standards
Global Rubber Process Oil Market By Application, 2022 (%)
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Global Rubber Process Oil Market Regional Insights
Asia-Pacific is expected to dominate the rubber process oil market during the forecast period. The increasing demand for rubber oil for tires and auto parts in developing countries such as China, Japan and India is expected to boost the demand for rubber oil in this region.
North America is the expected growth region in the rubber process oil market owing to the increasing use of solution styrene-butadiene rubber (S-SBR) in automotive tires, a low viscosity oil application in automobile demand increases, increasing the number of vehicles in this region.
Global Rubber Process Oil Market By Region, 2024-2031
- Largest
- Fastest
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Global Rubber Process Oil Market Dynamics
Drivers
Increase in the Number of Vehicles
- Oil-based rubber improves the physical properties of vulcanization to reduce the cost of rubber compound end products, which is one of the major expansion products in the market and expands with most compatible elastomer types in their users. Growing demand for automotive tires in emerging economies is driving demand for rubber oil. When unexpected changes in prices impede market expansion. But concerns about the use of non-biodegradable materials are predicted to hamper market calls in the coming years.
Restraints
- Rising Demand for Automobiles
The expansion in tire production worldwide, owing to the high demand for automobiles, is one of the major drivers of the rubber manufacturing market. Styrene-butadiene rubber compound (S-Sbr), which is widely used in tires, is also a fuel challenge for oil-based rubber. Growing demand for rubber gloves in various industries including healthcare and automotive is also fueling the expansion of the rubber process oil market.
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Global Rubber Process Oil Market Competitive Landscape
The competitive environment of the global Rubber Process Oil market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- H&R Group
- HollyFrontier Corporation
- HPCL
- Idemitsu Kosan Co. Ltd.
- Indian Oil Corporation Ltd
- LODHA Petro
- Lub Line
- Lukoil
- Nynas
- ORGKHIM Biochemical Holding
- Panama Petrochem Ltd
- PetroChina Company Limited
- Petronas Belgium NV
- Raj Petro Specialities P. Ltd.
- Repsol
Recent Developments
- August 2022: Cross Oil Refining & Marketing Inc. and Ergon Company Process Oils Inc.; effectively entered into an offtake and sales agreement, whereby Process Oils will operate as Cross Oil’s Corsol, L-Series, Martin Business Group L.P. subsidiary.
Global Rubber Process Oil Key Market Trends
- Green process oils are a group of aromatic paraffinic oils, known to contain less than 3% aromatic PCA. Because the Environmental Index recommends <3% PCA, this oil is widely used in Europe and developed countries and the world’s most trusted automotive TDAE process oils are aromatic green process oils several. This oil is non-toxic, non-carcinogenic and environmentally friendly. TDAE process oils can be used as an alternative to existing aromatic oils. All these trends are expected to increase the consumption of TDAE process oils for high quality tires and rubber worldwide.
Global Rubber Process Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. Various rubber products are made from rubber oil. The use of rubber oils disperses the ingredients and improves the flow rate in the product at a later time Rubber oils are used to produce crude oil and refining extraction products. Organic materials are now used in many industries. A variety of quality materials are used in the manufacture of natural and synthetic rubber.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.8 billion |
| Market size value in 2031 | USD 5.79 billion |
| Growth Rate | 2.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Rubber Process Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Rubber Process Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Rubber Process Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rubber Process Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Rubber Process Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Rubber Process Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Rubber Process Oil Market Report Snapshots
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