New York, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Increasing demand for next generation formulation of process oil coupled with high investment in R&D of process oil is fueling the market growth.
The global process oil market is forecast to reach USD 6.25 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly due to demand for the rubbers & polymers applications with drastic incremental rise in the use of tires globally. Evolution of the manufacturing industries in the Asian developing regions have helped driving the process oil market broadly. The metal-cutting industries are one of the biggest participator of this market. The next generation formulation of oils are hugely in demand throughout the forecast period.
The Asia Pacific region is forecasted to generate the highest revenue of USD 2.34 Billion in the year 2026, owing to its extensive market penetration due to the rise in the automotive tire industry coupled with the proliferation of the metal-working industries in India, and China.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global road marking materials market on the basis of the type, formulations, applications, and region:
Type Outlook (Revenue, USD Billion; 2016-2026)
Formulation Outlook (Revenue, USD Billion; 2016-2026)
Applications Outlook (Revenue, USD Billion; 2016-2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
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