Tyre Oils Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 3.8 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The global tyre oils market was valued at approximately USD 8.5 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2028. This growth is driven by the increasing demand for advanced automotive lubricants that enhance the performance and longevity of tyres. The market is experiencing a shift towards environmentally friendly and high-performance tyre oils, which is further propelling its expansion. The adoption of synthetic and bio-based tyre oils is expected to gain momentum, reflecting a significant trend towards sustainable solutions in the automotive industry.Emerging markets, particularly in Asia-Pacific, are presenting substantial opportunities for growth due to rapid industrialization and rising vehicle ownership. These regions are witnessing increased investments in automotive maintenance and repair services, further boosting the demand for tyre oils. Additionally, advancements in tyre technology and the introduction of new formulations are likely to create additional growth avenues. As the automotive industry evolves, the focus on enhancing tyre performance through innovative oil solutions will drive market dynamics, offering lucrative prospects for stakeholders in the tyre oils sector.
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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
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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
The Car Wash
Auto Repair Shop
Other
Based on Types the Market is categorized into Below types that held the largest Tyre Oils market share In 2023.
Refining Agent Refining Method
Secondary Catalytic Cracking
Global (United States, Global 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
Global
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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