Tyre Oils Market Revenue was valued at USD 3.5 Billion in 2024 and is estimated to reach USD 5.2 Billion by 2033, growing at a CAGR of 4.8% from 2026 to 2033.
The global Tyre Oils market was valued at approximately USD 3.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. This growth is driven by the increasing demand for high performance tyres in automotive and transportation industries. Tyre oils play a crucial role in enhancing the quality and performance of tyres by improving their wear resistance, aging resistance, and overall durability. The demand for high quality tyre oils is rising, especially in emerging markets where automotive production and sales are witnessing steady growth. The Tyre Oils market is expected to reach an estimated value of around USD 4.5 billion by 2030, reflecting significant growth across the forecast period.
Regionally, North America and Europe dominate the Tyre Oils market, with a strong presence of automotive manufacturers and robust infrastructure driving the demand for high performance tyres. The North American market held the largest share in 2022, with a value of approximately USD 1.2 billion. Europe followed closely with a market value of around USD 1 billion. The Asia Pacific region is expected to witness the highest growth during the forecast period, attributed to the rapidly expanding automotive industry in countries such as China, India, and Japan. The Asia Pacific Tyre Oils market is projected to grow at a CAGR of 6% from 2023 to 2030, driven by increasing automotive production and rising vehicle ownership in the region.
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Nynas
M / S RVS
CBP Cyprus
Shri Shyam Industries
Global Greenfuels
Diamond Petroleum
Balaji Converters
India Coal Depot & Electricals
Roger Industrial Oils
Amar Hydrocarbon
Vestro Solvents
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Tyre Oils Market
Mineral Oils
Synthetic Oils
Biodegradable Oils
Petroleum-based Oils
Passenger Vehicles
Commercial Vehicles
Heavy-Duty Vehicles
Two-Wheelers
Online Retail
Offline Retail
Wholesale Distributors
Direct Sales
Automotive
Aerospace
Machinery
Construction
Low Viscosity (SAE 0W-20)
Medium Viscosity (SAE 10W-40)
High Viscosity (SAE 20W-50)
Specialty Viscosity Grades
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Tyre Oils Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Tyre Oils Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Tyre Oils Market, By Type
6. Global Tyre Oils Market, By Application
7. Global Tyre Oils Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Tyre Oils Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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