Rubber Process Oil Market Size

Rubber Process Oil Market size was valued at USD 2.3 Billion in 2023 and is set to exceed USD 3.83 Billion by the end of 2036, registering over 4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of rubber process oil is estimated at USD 2.41 Billion. Tires are the largest consumers of RPO. The increasing demand for tires, driven by growing vehicle sales, the expansion of the transportation sector, and the replacement tire market, all contribute to the demand for RPO. In 2020, the European Union (EU) manufactured 4.3 million tonnes of tires. Despite having 94 tire production facilities, within the EU the region's imports of tire categories exceed its exports.

RPO is used as a reinforcing agent in the production of rubber-based adhesives and sealants, which gives them strength and flexibility. This helps them to be used in a variety of applications, such as bonding car parts, sealing joints in buildings, and gluing together materials in the manufacturing process. As these sectors grow, the demand for RPO is expected to increase.