Rubber Process Oil Market Analysis | 2023-2028

Market Insights

The rubber process oil market was estimated at USD 2 billion in 2022 and is likely to grow at a CAGR of 4.6% during 2023-2028 to reach USD 2.6 billion in 2028.

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Market Dynamics

Introduction

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 Drivers

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

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s rubber process oil market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our rubber process oil market report from the industry stakeholders, we have tried to further accentuate our research scope of the rubber process oil market to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as in the formulation of the growth strategies to expedite their growth process.

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, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

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

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The rubber process oil market is segmented into the following categories:

By Type

• Treated Distillate Aromatic Extracted (TDAE)
• Distillate Aromatic Extract (DAE)
• Mild Extracted Solvate (MES)
• Residual Aromatic Extract (RAE)
• Treated Residual Aromatic Extract (TRAE)
• Paraffinic
• Naphthenic

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.