Tire and Rubber Lubricants Market: Future Innovation Strategies, Growth & Profit Analysis, Forecast by 2031

Posted on 2021-02-12 by Future Market Insights, Inc in Chemicals // 0 Comments

Tire and rubber lubricants are slippery fluids used to produce products such as rubber bands, toys and tires and mount & demount tires on the rim of a wheel. Moreover, tire and rubber lubricants are used during the mixing of rubber compounds to improve the dispersion fillers and flow characteristics of the compounds during the manufacturing process of different rubber products as well as giant vehicle tires. Additionally, tire and rubber lubricants are also used as rubber or tire assembly lubricants as rubber materials are intrinsically difficult to remove, install, or otherwise manipulate even when wet. The benefits of tire and rubber lubricants as rubber assembly lubricants include reduced installation force, closer fit, improved performance, reduced damage to parts and reduced accidental conditions, among others.

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Furthermore, tire and rubber lubricants exhibit adequate miscibility and excellent plasticizing properties. Attributing to these properties, tire and rubber lubricants reduce the viscosity of rubber compounds (making rubber processing easier or more efficient), enhance mechanical properties, improve the braking efficiency and fuel consumption of the automotive and improve versatile range to adjust solvency. Tire and rubber lubricants also improve the low-temperature performance of tire and rubber products.

Moreover, tire and rubber lubricants are developed taking into consideration the type of rubber and end product application. Thus, they can be categorized into different grades, i.e. aromatic, paraffinic and naphthenic.

Tire and Rubber Lubricants Market: Dynamics

The growth of the tire and rubber lubricants market can be attributed to the growing consumption of tire and rubber lubricants in the manufacturing of vehicle tires. Growth of the automotive industry across the globe has contributed to the increasing demand for rubber tires in the automotive sector.

On the other hand, tire and rubber lubricants are highly toxic and carcinogenic, due to the presence of high polynuclear aromatic compounds (PNAs) in these lubricants. This may hamper the demand for tire and rubber lubricants during the forecast period.

Tire and Rubber Lubricants Market: Segmentation

The global tire and rubber lubricants market can be segmented on the basis of product type, application, grade and region.

On the basis of product type, the tire and rubber lubricants market has been segment into:

Natural
Synthetic

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On the basis of application, the tire and rubber lubricants market has been segment into:

Tire
Tubes
Seals
Pipes
Footwear
Wire and Cable Covering
Flooring Material

On the basis of grade, the tire and rubber lubricants market has been segment into:

Aromatic
Paraffinic
Naphthenic

Tire and Rubber Lubricants Market: Regional outlook

Asia Pacific is estimated to account for a dominant share in the tire and rubber lubricants market, owing to the strong investments in China, Japan and India for continuous innovations towards energy efficiency, eco-friendliness and automation in the automotive industry. The growth of the Asia Pacific tire and rubber lubricant market can be attributed to the increase in the sales of automotive in the region, which is expected to boost the consumption of tire and rubber lubricants in the region during the forecast period. Major automobile companies are outsourcing their parts from Asia Pacific on account of the low prices. Such factors are expected to drive the tire and rubber lubricants market over the forecast period.

The tire and rubber lubricants market in North America has been witnessing sustainable growth, owing to the demand for high-efficiency automotive in the U.S. and Canada. Europe is estimated to account for considerable growth of the tire and rubber lubricants market, owing to an increase in the number of manufacturers and the growing sales of automotive parts in the region during the forecast period.

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Tire and Rubber Lubricants Market: Market participants

Some of the market participants involved in the tire and rubber lubricants market are:

Total S.A.
Nynas AB
WBF Pte Ltd.
Repsol S.A.
Behran Oil Company
Panama Petrochem Ltd.
Shell Global
Hindustan Petroleum Corporation Limited (HPCL)
Indian Oil Corporation Limited
Unipetrol Group
Idemitsu Kosan Co., Ltd.
Apar Industries Ltd
CPC Corporation
Gulf Petroleum Ltd.
Chevron Corporation
Sah Petroleums Ltd.

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