Rubber process oil market forecast with a CAGR of 5.2 percent

Rubber process oil market is likely to witness an impressive CAGR of 5.2% through 2025 according to Stratview Research.  The growth of the rubber process oil market can be credited to the growing consumption of rubber process oils in the manufacturing of tires. Rising number of automobiles across the world has significantly contributed to the escalating demand for tires, thus influencing the growth of the global rubber process oil market.

In terms of regions, Asia Pacific is the dominating market for rubber process oils, followed by the North American and European regions. China and India are the growth engines of the Asia-Pacific region. The market is driven by the upsurge in the sales of automobiles in the region that is anticipated to stimulate the employment of rubber process oils in the tire and rubber market of the region. Various leading giants have adopted strategies of developments, new product unveilings, and contracts to suit the increasing demand for rubber process oil. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Some of the major players in the rubber process oil market are Apar Industries Limited, Behran Oil Company, Gandhar Oil Refinery (India) Limited, Hindustan Petroleum Corporation Limited (HPCL), Hollyfrontier Refining & Marketing LLC, Indian Oil Corporation Limited, Idemitsu Kosan Co., Ltd., Nynas AB, Orgkhim Biochemical Holding, and Panama Petrochem Ltd.