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 Tire and Rubber Lubricants Market 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.
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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.
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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Pertinent aspects this study on the Tire and Rubber Lubricants market tries to answer exhaustively are:
• What is the forecast size (revenue/volumes) of the most lucrative regional market?
• What is the share of the dominant product/technology segment in the Tire and Rubber Lubricants market?
• What regions are likely to witness sizable investments in research and development funding?
• What are Covid 19 implication on Tire and Rubber Lubricants market and learn how businesses can respond, manage and mitigate the risks?
• Which countries will be the next destination for industry leaders in order to tap new revenue streams?
• Which new regulations might cause disruption in industry sentiments in near future?
• Which is the share of the dominant end user?
• Which region is expected to rise at the most dominant growth rate?
• Which technologies will have massive impact of new avenues in the Tire and Rubber Lubricants market?
• Which key end-use industry trends are expected to shape the growth prospects of the Tire and Rubber Lubricants market?
• What factors will promote new entrants in the Tire and Rubber Lubricants market?
• What is the degree of fragmentation in the Tire and Rubber Lubricants market, and will it increase in coming years?