Rubber Process Oil in tire manufacturing, the demand for rubber process oils is on the rise, and is expected to reach an estimated value of USD 2.61 billion by 2026 rising from its initial estimated value of USD 1.83 billion in 2018 registering a CAGR of 4.5% in the forecast period of 2020-2026.
Key Market Competitors: Global Rubber Process Oil Market
Few of the major competitors currently working in the rubber process oil market are Royal Dutch Shell, Chevron Corporation, Petronas Belgium NV, Nynas, ORGKHIM Biochemical Holding, Repsol, HPCL, Apar Industries Ltd, Panama Petrochem Ltd, HollyFrontier Corporation, Gandhar Oil, Total, Indian Oil Corporation Ltd, Idemitsu Kosan Co. Ltd., CPC Corporation, Eagle Petrochem, LODHA Petro, WBF Pte Ltd, Southwestern Petroleum Corporation, Cross Oil, Vintrol Lubes Private Limited, Witmans Industries Pvt. Ltd., Sterlite Lubricants, Ergon North & South America, Raj Petro Specialities P. Ltd., PetroChina Company Limited, LUKOIL, H&R GROUP, Exxon Mobil Corporation, San Joaquin Refining Co. Inc., Calumet Specialty Products Partners L.P., Lub Line, and AVISTA OIL AG.
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Rubber process oil is commercially used in the cooperation of manufacturing of rubber products, from rubber bands to giant tires for aircrafts. Usage of rubber process oil improves the physical properties and characteristics of the products. Compatibility of process oils in a number of applications has also been a major factor for the growth.
Competitive Analysis: Global Rubber Process Oil Market
The global rubber process oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Rubber Process Oil market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Rubber Process Oil Market
· By Type (Naphthenic, TDAE, Paraffinic, MES, DAE, RAE & TRAE)
· By Application (Rubber Processing, Adhesives & Sealants, Polymer, Consumer Products, Paints & Coatings, Pharmaceuticals)
· By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
· Rise in sales of automobiles has propelled the usage and demand of rubber process oil in the market
· Usage of rubber process oils also emphatically reduces the end use rubber products which is one of the major factors for market growth
· Fluctuating costs of raw materials will act as a market restraint
· Environmental concerns about the use of non-biodegradable products is also expected to restrain the market growth
Key Insights in the report:
· Complete and distinct analysis of the market drivers and restraints
· Key Market players involved in this industry
· Detailed analysis of the Market Segmentation
· Competitive analysis of the key players involved
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