Authored By: Sarah
11 Jul 2024

 Rubber Process Oil Market Size to grow by USD 424.8 million between 2024-2028

According to a research report “ Rubber Process Oil Market” by End-user (Automotive, Construction, Oil and gas, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 424.8 million, at a CAGR of  3.27% during the forecast period. In the rubber industry, process oils serve a crucial role as processing aids during the manufacturing of rubber components. These oils function as plasticizers, enhancing processability and reducing filter inclusions. Additionally, they act as extenders, increasing the volume of rubber to decrease production costs. The choice of oil type depends on the specific product being produced. Process aids are gaining significance due to their efficiency in increasing production, reducing energy usage, and enhancing product quality. These factors are anticipated to fuel the growth of the rubber process oil market throughout the forecast period.

Browse market data tables, figures, and in-depth TOC on “Rubber Process Oil Market” by End-user (Automotive, Construction, Oil and gas, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Automotive segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The Rubber Process Oil Market is experiencing significant growth due to the increasing demand for high-performance elastomers in various industries. These oils play a crucial role in the production process, enhancing the durability and flexibility of rubber products. Key players in this market include Shell, ExxonMobil, and Lubrizol, who are investing heavily in research and development to meet the evolving needs of customers. The market is expected to continue its upward trajectory, driven by factors such as automotive industry expansion and infrastructure development projects.

APAC is forecasted to hold the largest market size by region in 2024

The Rubber Process Oil Market represents a significant segment within the global industrial lubricants industry. These specialized oils are essential for the production of rubber products, enhancing their durability and resistance to wear. Key players in this market focus on innovation and technology to meet the evolving demands of customers, ensuring optimal performance and sustainability. The market is expected to grow steadily, driven by increasing automotive production and expanding infrastructure development.

The Rubber Process Oil Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Apar Industries Ltd.
  • BRENNTAG SE
  • Chevron Corp.
  • CPC Corp.
  • Cross Oil
  • Ergon Inc.
  • Gandhar Oil Refinery India Ltd.
  • HollyFrontier Corp.
  • Indian Oil Corp. Ltd.
  • Lodha Petro
  • Nynas AB
  • Oil and Natural Gas Corp. Ltd.
  • ORGKHIM Biochemical Holding Management Co.
  • Panama Petrochem Ltd.
  • PETRONAS Chemicals Group Berhad
  • Repsol SA
  • Shell plc
  • TotalEnergies SE
  • Vintrol Lubes Pvt. Ltd.
  • WBF Pte Ltd.
.

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Research Analysis Overview

The Rubber Process Oil (RPO) market is driven by the usage of elastomers in various end products, particularly in the automotive industry. Automotive tires are the largest end-users of RPO, accounting for over 60% of the market share. The type and amount of RPO used depend on the specific elastomer type and its intended use in automotive tires. RPO plays a crucial role in the manufacturing process of elastomers, including vulcanization, which enhances the physical properties and flow characteristics of the rubber. It also aids in the dispersion of fillers in rubber compounds, improving mechanical properties. The demand for RPO is influenced by factors such as population growth, living standards, and spending power, which in turn affect the production and sales of passenger cars and automobiles. The automotive industry's focus on fuel consumption and braking efficiency also impacts the market, as RPO contributes to the production of bio-based rubber and automotive components. Supply chain disruptions and manufacturing facilities' availability can also impact the Rubber Process Oil market. Plants that produce RPO must ensure a consistent supply to meet the demands of the automotive industry, particularly during periods of increased demand. In summary, the Rubber Process Oil market is a critical component of the global elastomer industry, particularly in the automotive sector. Its usage in automotive tires and other components is driven by factors such as population growth, living standards, and fuel consumption. The market is also influenced by the availability and cost of RPO, as well as the physical properties and flow characteristics it imparts to rubber compounds.

Market Research Overview

The Rubber Process Oil Market is experiencing significant growth due to the expanding manufacturing facilities and strategic implementations in the rubber industry. Key players like Eagle Petrochem, Holding Total, and others are investing in expansions to meet the increasing demand for rubber and rubber products. The rubber market, which includes TRAE (Thermal Process Oil), RAE (Reclaimed Oil), DAE (Deasphalted Oil), MES (Mineral Oil Extender), TDAE (Thermally Cracked Deasphalted Oil), and others, is driven by the usage of rubber in various end products such as flooring materials, cable coverings, wire, footwear, and automotive tires. The elastomer types, including paraffinic, naphthenic, aromatic, and non-biodegradable, are formulated using these process oils to enhance their physical properties, flow characteristics, dispersion, and vulcanization. Regulations and their implementation, such as the Worldwide Harmonized System (WHS), are influencing the rubber market, with a focus on worker safety, falling objects, electrical contacts, and harmful chemicals. Emerging economies, particularly in Asia, are driving the demand for rubber and rubber products due to vehicle sales, CO2 emissions, LCVs (Light-Duty Vehicles), and increasing spending power, living standards, and population growth. The rubber process oil market faces challenges from transportation disruptions and supply chain issues, but favorable trends like the use of bio-based rubber and automotive components, as well as the growing demand for fuel consumption, braking efficiency, and mechanical properties, are expected to offset these challenges. Rubber compounds are used in various industries, including automotive, semiconductors, and passenger cars, and the demand for these compounds is expected to continue growing, driving the demand for process oils.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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