Global Rubber Process Oil Market to Reach $2.8 Billion by 2030
The global market for Rubber Process Oil estimated at US$2.1 Billion in the year 2023, is expected to reach US$2.8 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2023-2030. Naphthenic Rubber Process Oil, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$1.1 Billion by the end of the analysis period. Growth in the TDAE Rubber Process Oil segment is estimated at 4.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $617.8 Million, While China is Forecast to Grow at 4.1% CAGR
The Rubber Process Oil market in the U.S. is estimated at US$617.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$487.5 Million by the year 2030 trailing a CAGR of 4.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 3.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
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