Europe Tyre Oils Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 1.9 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The Europe Tyre Oils Market is witnessing substantial growth as the demand for high-performance tyres continues to rise across various industries. Tyre oils are vital components in the tyre manufacturing process, enhancing the quality, durability, and performance of tyres. These oils are derived from different sources, including petroleum-based and synthetic oils, catering to various requirements from industries such as automotive, manufacturing, and logistics. The growing demand for advanced tyres that offer better fuel efficiency, safety, and longevity is driving the market for tyre oils in Europe.
One of the key factors contributing to the growth of the Europe Tyre Oils Market is the increasing need for environmentally friendly and high-performance tyres. As consumers and industries become more conscious of sustainability, tyre manufacturers are turning to advanced oils that not only improve the tyres' physical properties but also reduce their environmental impact. This has led to the development of bio-based oils, which are increasingly being adopted in tyre production, meeting the evolving demand for greener alternatives.
Moreover, the growing automotive industry in Europe is a significant driver for tyre oil consumption. With the rise of electric vehicles (EVs) and the growing need for tyres designed to withstand higher performance standards, the demand for specialised tyre oils is also increasing. Tyre manufacturers are incorporating advanced oils to enhance the performance of tyres in these modern vehicles, leading to a surge in oil requirements in the market.
Industries like logistics and transportation also play a pivotal role in driving the demand for tyre oils. These sectors rely heavily on tyres that can endure extreme conditions and provide consistent performance over long distances. Tyre oils help in improving the overall lifespan of tyres, reducing wear and tear, and ensuring safety under various conditions. Additionally, the demand for tyres in industrial applications, such as construction and agriculture, further increases the need for quality tyre oils in the market.
As industries continue to innovate and require tyres that offer superior performance and longevity, the Europe Tyre Oils Market will undoubtedly continue to evolve. The advancement in tyre oil technology, coupled with the increasing demand from diverse industries, will shape the future landscape of tyre oil production and consumption in Europe.
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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
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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. 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 Europe 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 Europe 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. Europe Tyre Oils Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Tyre Oils Market, By Type
6. Europe Tyre Oils Market, By Application
7. Europe Tyre Oils Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Tyre Oils Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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