The global rubber process oil market is forecast to reach USD 2,927.6 Million by 2028, according to a new report by Reports and Data. These oils are special internal lubricants that are used in the formulation of rubber, improve its physical attributes, work as cost-effective extenders, encourage the fuse of fillers and different added substances, and others.
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Key Participants of this market –Key participants Repsol S.A, Chevron Corporation, Nynas AB, Witmans Industries Pvt. Ltd., Gulf Petroleum Ltd., Behran Oil Company, ORGKHIM Biochemical Holding, Royal Dutch Shell PLC, Petronas Lubricants Belgium NV, and Gandhar Oil Refinery Limited, among others.
Further key findings from the report suggest
- The TDAE (Treated Distillate Aromatic Extract) segment is forecasted to witness the highest CAGR of 5.6% during the forecast period. This segment is rising since the European Union has banned the use of DAE due to its toxicity.
- Rubber processing held the largest market share of 32.6% in the year 2018. The process oil industry is growing in this segment due to the rising demand for rubber accessories in the automobile industries due to rapid urbanization. These lubricants, when added to rubber, improves the processability of the rubber polymers.
- Asia Pacific is expected to witness the highest CAGR of 6.1% during the forecast period. These rubber oil lubricants improves the quality of vulcanization and makes the end products affordable for the end-users. Countries like India, China, Taiwan, Indonesia, and Japan are rapidly catching up with the growth in the rubber processed oil market.
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This is the latest report covering the current COVID-19 scenario. The coronavirus pandemic has greatly affected every aspect of the worldwide industry. It has brought along various changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact are covered in the research report. The report discusses all the major aspects of the market with expert opinions on the current status along with historical data.
For the purpose of this report, Reports and Data have segmented into the global Rubber Process Oil market on the basis of type, application, end-users and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Rubber Processing
- Adhesives & Sealants
- Polymer
- Consumer Products
- Paints & Coatings
- Pharmaceuticals
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- RAE (Residual Aromatic Extract) & TRAE (Treated Residual Aromatic Extract)
- Naphthenic
- TDAE (Treated Distillate Aromatic Extract)
- Paraffinic
- MES (Mild Extracted Solvent)
- DAE (Distillate Aromatic Extract)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Automotive
- Construction
- Gas and Oil
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/rubber-process-oil-market
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