The latest market report published by Credence Research, Inc. is “Global Rubber Process Oil Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Rubber Process Oil Market generated revenue of around USD 2.1 billion in 2021 and is anticipated to grow a CAGR of over 4.3% during the forecast period from 2022 to 2028 to reach around USD 2.7 billion in 2028.
Rubber process oils (RPO) serve as internal lubricants, enhance rubber formulation blending, enable the incorporation of filler particles and other additives, strengthen certain physical properties, and utilize them as low-cost extenders. Rubber Process Oils are tailored to the specific requirements of different rubber products in terms of viscosity and aniline point and are known for their consistent quality and on-time delivery. Rubber process oil is used in the rubber industry from raw materials to finished products such as footwear, tires, battery cases, tubes, mats, and hoses.
Browse Global Rubber Process Oil Market report-https://www.credenceresearch.com/report/rubber-process-oil-market
The increasing use of rubber products from the industrial and automotive sectors in developing economies increases demand for rubber process oil in rubber processing. Growing R&D activities, rising demand for natural-based products, expansion in the personal care industry, high output in polymer manufacturing, and the cost advantages of using process oil over conventional energy sources are some factors that will drive demand for rubber process oil over the forecast period. However, rising raw material costs and regulatory policies restricting the use of hydrocarbons are impeding global market growth.
The global rubber process oil market is bifurcated into Type and Geography. Based on type, the market is categorized into Naphthenic, TDAE, Paraffinic, RAE & TRAE, MES, and DAE. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, Asia Pacific dominated the global rubber process oil market and accounted for a major market revenue share owing to a rise in the sales of automobiles, many leading players implementing the strategies of expansions, new products launch, and agreements and increasing sales of vehicles in the region. The Asia Pacific region is home to the world’s largest producers of rubber process oil. China is rapidly industrializing as a developing country, resulting in huge demand for rubber-made products in various end-user industries.
Why to Buy This Report –
- The report examines the global rubber process oil market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report includes competitive landscape information, such as how the market’s key players operate on a global, regional, and country level.
- In-depth analysis of the global rubber process oil market segmentation by type.
- The report includes detailed and authentic data for all factors, such as CAGR, supply and demand, consumer purchasing trends, and import-export statistics.
- The rubber process oil market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Rubber Process Oil Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Type (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|