Rubber Process Oil Market Driven By Increasing Demand of Tires

By -

Introduction

Rubber process oil as the name suggests is used to process and manufacture multiple rubber compounds. It is extracted from petroleum crude oil and it improves the physical properties of vulcanization to reduce the cost of end products of rubber compounds. There are mainly 7 types of rubber process oil namely, distillate aromatic extract, treated distillate aromatic extracted (TDAE), residual aromatic extract (Rae), treated residual aromatic extract (TRAE),  paraffinic rubber process oil, mild extracted solvate, and naphthenic rubber process oil. It works as an internal lubricant and performs a cost-efficient extender function. Rubber process oil has several applications in tire, flooring material, footwear, wire and cable coverings, and other applications.
Drivers of rubber process oil market
Growing tire manufacturing across the globe owing to booming demand from automobiles is one of the major drivers of the rubber process oil market. The growth of the automobile industry across the globe is also increasing the demand for rubber process oil. The increasing demand for low-viscosity process oils from the automobile industry is increasing the rubber process oil market size. Growing use of Solution Styrene-Butadiene Rubber (S-Sbr) in tires is also fueling the demand for rubber process oils. Rising demand for rubber gloves across various industries including healthcare and automotive is also bolstering the growth of the rubber process oil market.

Restraints and opportunities

 Factors such as volatility in raw material prices and growing environmental concerns about the usage of non-biodegradable products are currently hampering the growth of the rubber process oil market. However, rising investments in R&D by rubber process oil manufacturers to develop green rubber process oils will propel the rubber process oil market growth in the coming years.

Market Segmentation

Geographically, Asia Pacific region is expected to have a significant market share of the global rubber process oil market share. The Rubber Process Oil market share is projected on account of increasing demand for automobiles that is expected to boost the consumption of rubber process oils in the tire and rubber market of the region. The market of North America region is expected to witness rapid growth. Europe region market will grow slowly on account of the implementation of the European Union directive. European Union directive is banning polycyclic aromatics (PCAs) usage for manufacturing tires which is restraining the growth of the market in the region.
The naphthenic segment is expected to witness substantial growth on account of its high thermal stability and good compatibility with synthetic elastomers. They are used for the production of various products such as rubber, plasticizers, inks, and sealants as they are light-colored and possess non-staining characteristics. Their diverse application in the manufacturing of the above-mentioned products is boosting the growth of the market.  TDAE segment is also expected to grow on account of the shift towards TDAE in the European region due to European Union directive. By application, tire segment is expected to have a significant market share on account of increasing demand for automotive tires from the automobile industry. The market will continue to grow owing to the globally increasing demand for automobiles.
Follow us
https://www.facebook.com/knowledgesourcing/


Comments

Post a Comment

Popular posts from this blog

A Complete Study On Global Glass Packaging Market

By -
Image
Introduction  The global glass packaging market growing   with an attractive CAGR during the forecast period(2018-2023) . Glass is made from all-natural sustainable raw materials. Glass packaging is the preferred packaging for consumers as they preserve a product’s taste or flavor, maintain the integrity or healthiness of food and beverages and are environmentally friendly. Due to these characteristics, it is widely considered as “generally recognized as safe” or “GRAS” packaging material by U.S. Food and Drug Association.  Rising disposable income, changing lifestyle, and growing demand for fruits and soft drinks are some of the factors that are driving the demand for glass packaging solutions . Increasing alcoholic drinks consumption and rising investments in the pharmaceutical sector are the driving factors that will further boost the global glass packaging market growth.  Growing Pharmaceutical Industry Glass is a preferred packaging material in the pharmaceutical indus
Read more

Asia Pacific Flexible Packaging Market - Segmented by Application, Products, and Geography - Forecasts till 2024

By -
According to a new market research report “ Asia Pacific Flexible Packaging Market by Application ( Food Packaging, Beverage Packaging, Cosmetic and Toiletries, Pharmaceutical and Healthcare, Others) , Products ( Bottles, Bags, Pouches, Films, Caps/closures and lids ), & Geography – Forecasts from 2019 to 2024” Detailed Table of Contents and more information can be accessed by clicking below: https://www.knowledge-sourcing.com/asia-pacific-flexible-packaging-market For free sample report, customization, and detailed requirements, click below: https://www.knowledge-sourcing.com/requestsample&sample_id=128 Major market players which have been profiled as part of this report are Bemis Company, Inc., WestRock Company, Sonoco Products Company, Southern Packaging Group Limited, Mondi plc, and Takigawa Corporation along with several other players. Segmentation The Asia Pacific flexible packaging market has been analyzed through following segments
Read more

A Comprehensive Study On Global Low Density Polyethylene Packaging Market

By -
Image
 Introduction Global LDPE packaging market is projected to witness the growth at a decent CAGR  during the forecast period(2017 to 2023). Growing demand for innovative, light-weight and convenience packaging by the FMCG industry will drive the demand for LDPE packaging.                            LDPE packaging is also widely used for the packaging of healthcare products to prevent the drugs for a longer period of time, which will further augment the demand for LDPE packaging. However, the increase in demand for HDPE, LLDPE and ULDPE will impede the demand for LDPE packaging during the forecast period.  Growing Demand For Retail-ready Packaging LDPE materials, especially stretch and shrink films are used for retail-ready packaging to provide safety of the product during transit. Additionally,  graphics printing on the LDPE packaging facilitates brand promotion, ease of stockroom identification and improved product availability in case of replenishment.  LDPE packaging
Read more