加工油的全球市場 - 成長，趨勢，預測(2018年∼2023年)
Global Process Oils Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
|出版商||Mordor Intelligence LLP||商品編碼||707353|
|出版日期||內容資訊||英文 105 Pages
|加工油的全球市場 - 成長，趨勢，預測(2018年∼2023年) Global Process Oils Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|出版日期: 2018年08月01日||內容資訊: 英文 105 Pages||
The process oils market is expected to register moderate growth during the forecast period (2018 to 2023). The market is driven by growing tire and automotive production in developing countries and increasing demand from textile sector. Growing environmental regulations are expected to hinder the market's growth.
Process oils are used in the textile manufacturing sector, majorly for yarns, nonwoven fabrics in order to decrease the wear on the fiber, hinder dust formation on fibers as well as roller joints during textile production. The textile market in Asia-Pacific countries, such as India, China, Indonesia and Vietnam is expected to grow, majorly due to increasing government initiatives. In India, the government's consistent efforts in R&D have led to an unprecedented growth in the textile industry. The government has set up four research centers with state-of-the-art facilities, for product testing and evaluation. In addition, the government has welcomed foreign investments, by creating 14 SEZs that focus on textiles. The Indonesia Textile Industry is estimated to reach 6,361.50 kilo ton by volume, in 2018. It is projected to reach 7,939.92 kilo ton by volume, by 2023, at estimated CAGRs of 4.53%, over the forecast period of 2018-2023. Vietnam is a potential market, with the government initiating significant investments in its textile manufacturing facilities. Vietnam was the second largest investor in shuttle-less looms, among member countries of the Association of South East Asian Nations (ASEAN), during 2006-2015. Moreover, it was the biggest investor among these countries, in ring spindles and open-end rotors. There has also been a marked expansion in the knitting sector. These factors will drive the process oil market during the forecast period.
Rubber process oils function as internal lubricants, improve the blending of rubber formulations, facilitate the incorporation of fillers and other additives, improve certain physical characteristics, and function as low-cost extenders. Process oils (used as softeners for SBR rubbers), and their mixtures (used in tire manufacture) are obtained by the solvent refining process. Rubber process oils are widely used in the manufacture of automotive tires and tubes, bi-cycle tires, tires retreading materials, belting, hoses, bottles, battery containers, extruded products, and technical molded goods. In terms of product segments, aromatics (comprising of DAE, TDAE, RAE, TRAE, and MES) is the largest product segment, accounting for close to 57% of the total demand. The aromatic segment is followed by the naphthenic and paraffinic rubber process oil segment, with nearly 29% and 14% of the total demand, respectively. Aromatics are the most compatible rubber process oils with rubber and rubber products, mainly tires, due to which, their share in consumption is high. Naphthenic rubber process oils are mainly consumed in North America, accounting for 70% of the total rubber process oil demand in the region, boosted by the ample local supply.
Asia-Pacific is expected to witness robust growth in the demand for process oils during the forecast period. Rapid growth in the chemical manufacturing and automotive production sectors in countries such as China, India, Vietnam and Indonesia are projected to be the key drivers for the process oils market in the coming years. The chemical industry in India was valued at USD 139 billion in 2016 and is projected to reach USD 403 billion by 2025 (according to India Brand Equity Foundation). Increasing demand from export markets along with growing production by major companies have been supporting the manufacturing of chemicals in the country at a robust rate. Organic chemicals and plastics have been witnessing significant growth in production and exports over the past few years. The rubber manufacturing sector in the country is witnessing a positive growth, owing to the increasing domestic production of automobiles as well as the increase in the custom duty on tires imported from China. The exports of rubber products for India has increased by nearly 8% y-o-y in 2016-2017. In addition, factors, such as abundant availability of raw materials, skilled manpower, low-cost of production and presence of entire value chain for technical textiles production are leading to increasing investments as well as production activities in the Asia-Pacific region. This in turn is boosting the demand for process oils used for textile auxiliaries in the region.
February, 2017: HollyFrontier Refining & Marketing LLC has acquired Suncor Energy's Petro-Canada Lubricants business for an estimated value of CAD 342 million.
The major players include - Royal Dutch Shell Plc., Chevron USA Inc., PetroChina, Lukoil, and Total, amongst others.
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The application that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market share, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in Excel)
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