Overview:
The recent report, as published by Market Research Future (MRFR) on the Treated Distillate aromatic Extracts (TDAE) Market, reveals that the market is showing potentials to achieve a valuation of USD 1,027.7 million by 2027 following a CAGR of 3.71% during the forecast period of 2020 to 2027.
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Treated distillate aromatic extracts (TDAE) can be defined as a rubber processing oil that has strong aromatic content. It has a widespread application as a rubber softening additive to back up the process of rubber vulcanization. The product is getting strong market traction due to its high viscosity-gravity constant, which supports various manufacturing processes and reduces heat production capacity, which provides better traction to the automotive industry. However, it is also known for its carbon emission properties, which can have some negative impact on the market in the coming years.
Segmentation:
The global treated distillate aromatic extracts market finds solid segmentation in the report published by MRFR on the basis of its application. The segment is loaded with various market factors that can contribute to the holistic growth of the market.
By application, the global market report on treated distillate aromatic extracts can be segmented into belting & houses, battery containers, tires & tubes, extruded products, & others. The tires & tubes manufacturing segment has a significant growth due to its increasing intake in the automotive sector. The forecast period of the market predicts that this segment could cover up well above 68% of the entire market share and can record growth with 3.81% CAGR during the review period.
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Regional Analysis:
The market report on a regional scale, as per the coverage of MRFR in 2016, revealed the Asia Pacific region as the major contributor in the market. The segment is also supposed to make significant growth by having a 4.12% CAGR on a value-wise scale and 3.7% CAGR on a volume-specific level. The region has the upper hand over the global market with almost half of the total market share. The regional claim would reach around 45% of the entire market size during the forecast period. This is happening due to the growing need for rubber in manufacturing tires and other products. The regional rubber production industry is quite robust, which is expected to provide the market significantly. China has the largest contribution and its revenue is almost USD 133.12 million with a possibility of scoring CAGR of 4.32% during the review period. India would also register significant market growth in the coming years as the automobile industry is gaining strong grounds in the region.
North America has almost one-fifth of the global treated distillate aromatic extracts market share and it has recovered well from the economic slump. The demand for industrial rubber is growing significantly. The US is expected to contribute the most with extraordinary contributions and the highest regional CAGR of 3.21% during the forecast. Europe was the largest consumer, however, recent regulatory impositions regarding quality to curb the production of carbon can be taken into consideration to understand the market for treated distillate aromatic extracts.
Competitive Analysis:
Companies taking part in devising strategies for the global market for treated distillate aromatic extracts are Royal Dutch Shell Plc (Netherlands), Lanxess (Germany), Total S.A. (France), CPC Corporation (Taiwan), Gazpromneft-Lubricant Ltd, (Russia), Eni s.p.a. (Italy), Nynas (Sweden), H&R Group (Germany), ATDM (Iran), Eagal Petrochrm (Iran), and others. MRFR profiled these companies to make sure that their contributions get assessed properly. These companies have contributed much to the market by taking various leads and executing tactical moves like a merger, tie-ups, acquisitions, and others.
In March 2019, EDL Anlagenbau GmbH sold a license to the Middle East for its two-stage extraction technology of oil, which would ensure a better market stand for the oil rigs in the Middle East. This technology would refine the oil in a better way to make them adhere the market standard.
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Industry Updates:
Feb 2020 Norman Process Oils Malaysia Plant Sdn Bhd is building a US$50 million facility at Tanjung Langsat, Pasir Gudang to produce petroleum-based extender oils used in tires, synthetic rubbers, and rubber compounds. The facility which has a 70,000 tons per annum unit will produce the TRAE (treated residual aromatic extract), Orgkhim’s TDAE (treated distillate aromatic extract) and S-RAE (safe RAE, green analogue of traditional RAE) products.
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