Rubber Process Oil Market Share

APAC Market Forecast

 Asia Pacific industry is predicted to dominate majority revenue share of 35% by 2037, due to presence of largest producers and consumers of rubber process oil in the region. The market growth in the region is also expected on account of China, India, and Japan being the largest producers and consumers of rubber process oil in the region. Additionally, these countries are also focusing on reducing their dependence on imports, which further contributes to market growth in the region. Furthermore, the region's growing automotive industry and increasing investments in the tire industry are also driving the growth of the market in the region.

North American Market Statistics

The North America rubber process oil market is estimated to be the second largest, registering a share of about 28% by the end of 2037. The market’s expansion can be attributed majorly to the increasing production of rubber-based products, and the growing adoption of rubber process oils in various industrial applications. Approximately 35 million metric tons of rubber are produced in the United States each year. This, in turn, is leading to an increased demand for rubber process oils, which are used in the manufacturing process of rubber-based products. Furthermore, the increasing preference for synthetic rubber, which is more cost-effective and energy-efficient, is also driving the growth of the market.