Rubber Process Oil Market Growth Analysis

Market Insights

The Rubber Process Oil Market was estimated at US$ 2 billion in 2022 and is expected to grow at a healthy CAGR of 4.6% during 2023-2028 to reach US$ 2.63 billion in 2028.

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What is Rubber Process Oil?

Rubber Process Oil (RPO) is a type of specialized oil used in the rubber industry. It is primarily derived from petroleum and serves as a crucial additive in the processing of rubber compounds. RPO enhances the processability and performance of rubber by acting as a softening and plasticizing agent. It improves the flow characteristics of rubber during mixing, extrusion, and molding processes, thereby facilitating easier handling and shaping. RPO also helps in reducing the viscosity of rubber compounds, enhancing their elasticity, flexibility, and overall durability. Its composition and properties can vary depending on the specific requirements of the rubber application, making it a versatile ingredient in rubber manufacturing.

Market Dynamics

The growth of the rubber process oil market can be credited to the growing consumption of rubber process oils in the manufacturing of tires. The rising number of automobiles across the world has significantly contributed to the escalating demand for tires, thus influencing the growth of the global rubber process oil market.

Segments Analysis

By Type

Based on the type, the market is segmented as treated distillate aromatic extracted (TDAE), distillate aromatic extract (DAE), mild extracted solvate (MES), residual aromatic extract (RAE), and treated residual aromatic extract (TRAE), paraffinic, and naphthenic. The TDAE segment is estimated to depict the highest growth in the coming five years. The formulation and enactment of regulations outlawing the use of DAE in the European region have directed an upsurge in the consumption of TDAE in the region, which in turn, is driving the growth of this segment.  

Regional Analysis

In terms of region, Asia Pacific is dominating the market for rubber process oils, followed by the North American and European regions. China and India are the growth engines of the Asia-Pacific region. The market is driven by the upsurge in the sales of automobiles in the region which is anticipated to stimulate the employment of rubber process oils in the tire and rubber market of the region. Various leading giants have adopted strategies of development, new product unveilings, and contracts to suit the increasing demand for rubber process oil. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major players in the rubber process oil market are-

• Apar Industries Limited
• Behran Oil Company
• Gandhar Oil Refinery (India) Limited
• Hindustan Petroleum Corporation Limited (HPCL)
• Hollyfrontier Refining & Marketing LLC
• Indian Oil Corporation Limited
• Idemitsu Kosan Co., Ltd.
• Nynas AB
• Orgkhim Biochemical Holding
• Panama Petrochem Ltd

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, validation, and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Company Profiling

• Detailed profiling of additional market players (up to three players).
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Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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