Market Size of Rubber Process Oils Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 3.62 Million tons |
| Market Volume (2029) | 4.19 Million tons |
| CAGR (2024 - 2029) | 2.93 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Rubber Process Oil Market Analysis
The Rubber Process Oils Market size is estimated at 3.62 Million tons in 2024, and is expected to reach 4.19 Million tons by 2029, growing at a CAGR of 2.93% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, increasing demand for tire and automotive components from the automobile industry is one of the major factors driving the growth of the market studied.
- On the flip side, volatility in raw material prices is expected to hinder the growth of the market.
- However, the increasing demand for bio-based rubber process oil is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
