DUBLIN--(BUSINESS WIRE)--The "Rubber Process Oil Market by Type (Naphthenic, Paraffinic, Treated Distillate Aromatic Extract, DAE, MES, RAE and TRAE), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The rubber process oil market is projected to grow from USD 1.91 billion in 2018 to USD 2.33 billion by 2023, at a CAGR of 4.1%, from 2018 to 2023.
The growth of the rubber process oil market can be attributed to the increased consumption of rubber process oils in the manufacturing of tires. The growing number of automobiles across the globe has contributed to the increasing demand for tires, thereby leading to the growth of the rubber process oil market.
The increase in the sales of automobiles in the Asia Pacific region has led to rising demand for tires, thereby leading to the growth of the Asia Pacific rubber process oil market. Formulation and implementation of the European union directive banning the use of PCA (polycyclic aromatics) in tire manufacturing and increased use of soyabean oil as an alternative for rubber process oil in tire manufacturing are the key factors restricting the growth of the market.
TDAE is projected to grow at the highest CAGR in terms of value between 2018 and 2023. The formulation and implementation of the regulations banning the use of DAE in the European region have led to an increase in the consumption of TDAE in the region.
The Asia Pacific region is estimated to account for the largest share of the rubber process oil market in 2018. The growth of the Asia Pacific rubber process oil market can be attributed to increase in the sales of automobiles in the region that is expected to boost the consumption of rubber process oils in the tire and rubber market of the region. Various leading players have adopted the strategies of expansions, new product launches, and agreements, to meet the growing demand for rubber process oil.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Rubber Process Oil Market, By Type
7 Rubber Process Oil Market, By Region
8 Competitive Landscape
9 Company Profiles
- Apar Industries Limited
- Behran Oil Company
- CPC Corporation
- Cross Oil Refining & Marketing, Inc.
- Eagle Petrochem
- Ergon North & South America
- Gandhar Oil Refinery (India) Limited
- Gulf Petroleum Ltd.
- Hindustan Petroleum Corporation Limited (HPCL)
- Hollyfrontier Refining & Marketing LLC
- Idemitsu Kosan Co., Ltd.
- Indian Oil Corporation Limited
- Lodha Petro
- Nynas Ab
- Orgkhim Biochemical Holding
- Panama Petrochem Ltd.
- Petro Gulf FZC
- Repsol S.A.
- Shell Global
- Southwestern Petroleum Corporation
- Sterlite Lubricants Pvt. Ltd.
- Total S.A.
- Unipetrol Group
- Vintrol Lubes Pvt. Ltd.
- WBF Pte Ltd.
- Wellbank Global Pte Ltd.
- Witmans Industries Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/8x24nq/2_3_bn_rubber?w=4