What is Global Environmentally Rubber Process Oil Market?
The Global Environmentally Rubber Process Oil Market is a vast and dynamic sector that focuses on the production and distribution of environmentally friendly rubber process oil. This oil is a key component in the manufacturing of rubber products, providing essential properties such as softness, elasticity, and resistance to heat and cold. The market is driven by the increasing demand for eco-friendly products and the stringent environmental regulations imposed by governments worldwide. The market encompasses a wide range of products, each with its unique properties and applications. It is a global market, with key players spread across different regions, contributing to the market's growth and development. The market's value was estimated at US$ 647 million in 2023, and it is projected to reach US$ 836.9 million by 2030.
TDAE, MES, NAP, RAE, Others in the Global Environmentally Rubber Process Oil Market:
The Global Environmentally Rubber Process Oil Market is segmented into various types, including TDAE, MES, NAP, RAE, and others. TDAE, or Treated Distillate Aromatic Extract, is the most popular type, accounting for nearly 48% of the market share. It is widely used due to its excellent compatibility with rubber and its ability to improve the rubber's physical properties. MES, or Mild Extract Solvate, is another significant type known for its low aromatic content and high viscosity. NAP, or Naphthenic Oil, is favored for its excellent low-temperature performance and good color stability. RAE, or Residual Aromatic Extract, is used for its high aromatic content, which provides excellent softening properties. Other types include Paraffinic Oils, which are known for their excellent thermal stability and resistance to oxidation.
Tyre, Non-Tyre in the Global Environmentally Rubber Process Oil Market:
The Global Environmentally Rubber Process Oil Market finds its applications mainly in the Tyre and Non-Tyre sectors. The Tyre sector is the largest consumer of Environmentally Rubber Process Oil, accounting for nearly 78% of the market share. The oil is used in the manufacturing of tyres to improve their flexibility, durability, and resistance to heat and cold. It also helps in reducing the rolling resistance of tyres, thereby improving fuel efficiency. The Non-Tyre sector includes the manufacturing of rubber products such as hoses, belts, gaskets, and seals. Here, the oil is used to enhance the products' elasticity, resistance to wear and tear, and longevity.
Global Environmentally Rubber Process Oil Market Outlook:
Looking at the market outlook, the Global Environmentally Rubber Process Oil Market is on a steady growth trajectory. In 2023, the market was valued at US$ 647 million, and it is expected to reach US$ 836.9 million by 2030, growing at a CAGR of 3.7%. The Asia-Pacific region is the largest consumer of Environmentally Rubber Process Oil, accounting for nearly 47% of the market share. This can be attributed to the region's booming automotive industry and the increasing demand for eco-friendly products. TDAE is the most popular type of Environmentally Rubber Process Oil, with a market share of nearly 48%. The Tyre sector is the largest consumer of the oil, accounting for nearly 78% of the market share.
| Report Metric | Details |
| Report Name | Environmentally Rubber Process Oil Market |
| Accounted market size in 2023 | US$ 647 million |
| Forecasted market size in 2030 | US$ 836.9 million |
| CAGR | 3.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | H&R Group, Orgkhim Biochemical Holdings, Total, Repsol, CPC Corporation, IRPC, Shell, CNOOC, Shandong Tianyuan Chemical Co. Ltd, Suzhou Jiutai Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
