Global rubber process oil market to reach $2.4 billion by 2027

Dublin, Ireland – In the changed post COVID-19 business landscape, the global market for Rubber Process Oil estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$2.4 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027 according to Report Linker. Naphthenic, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$903.2 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the TDAE segment is readjusted to a revised 5.3% CAGR for the next 7-year period.

The Rubber Process Oil market in the U.S. is estimated at US$496 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$418.4 Million by the year 2027 trailing a CAGR of 4.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

In the global Paraffinic segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$233.4 Million in the year 2020 will reach a projected size of US$321.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.