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 Tyre Oils Market experienced notable shifts between 2018 to 2022, driven by various factors ranging from evolving automotive trends to environmental considerations. Over this period, demand surged, fueled by increased vehicle production, technological advancements, and growing awareness about the need for better quality oils in tyre manufacturing. Market players, focusing on providing durable and high-performance oils, met the rising demand with innovations that catered to both regular and specialized tyre production needs. With a steady increase in production volume, the Tyre Oils Market demonstrated solid growth, fostering a competitive landscape that attracted both established players and newcomers seeking to gain market share.
As we look to the forecasted period from 2023 to 2033, demand for tyre oils is expected to evolve, driven by emerging trends in sustainability, technological advancements, and shifts in consumer preferences. The transition towards electric vehicles (EVs) will alter the landscape, impacting tyre manufacturers' needs for oils that enhance performance and longevity. Moreover, the growing emphasis on eco-friendly practices is likely to increase demand for biodegradable tyre oils and those with minimal environmental impact. Consequently, tyre oil manufacturers will likely need to adjust their production processes to meet these shifting requirements. Innovations such as bio-based oils and oils designed for improved fuel efficiency are expected to gain traction during this period.
Another driving factor for the demand from 2023 to 2033 will be the rise of smart tyres, integrated with advanced sensor technology, which require specialized oils to ensure optimal performance and protection. With consumer expectations pushing for enhanced vehicle performance and greater fuel economy, the need for high-quality oils in the tyre industry is set to grow. Additionally, increasing automotive production in emerging economies is likely to contribute to an upward trend in tyre oil demand. These developments present an exciting opportunity for tyre oil manufacturers to innovate and cater to a more diverse set of needs in the coming decade.
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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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