Surge Expected in the Global Treated Distillate Aromatic Extracts Market with 5.90% CAGR between 2024 and 2032

Pune, India /press release/- Market Research Future Published a Half-Cooked Research Report on Global Treated Distillate Aromatic Extracts Market Research Report.

Global Treated Distillate Aromatic Extracts Market Highlights

Market Research Future (MRFR) has published a research report that predicts a surge in the global Treated Distillate Aromatic Extracts (TDAE) market was valued at USD 799.75 million in 2023 and is expected to grow to USD 1,358.56 million by 2032, registering a compound annual growth rate (CAGR) of 5.90% between 2024 and 2032. The usage of rubber products is increasing in a broad spectrum of application in the industries that range from the agriculture to textile with the emergence of Fast Moving Consumer Goods (FMCG) sector. However, the growth of this market can suffer because the European Union has regulated strict regulation because TDAE contains high polymeric hydrocarbon content that is harmful to the environment.

The global treated distillate aromatic extracts market has been segmented on the basis of application and region. On the basis of application, this market has been segmented into battery containers, belting & houses, extruded products, tires & tubes, & others. Tires & tubes manufacturing are the primary application area of TDAE. During the forecast period, this segment is expected to occupy 68% of the global share of the market with 3.81% CAGR. The regional segmentation of the global treated distillate aromatic extracts market has been segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA).

In the Asia Pacific region, the growth is rising rapidly, and it has a 45% share of the global market. This trend is expected to continue until the end of the forecast period. Due to the high density of population, cheap labor, and outsourced production activities, the market is growing in this region. In this region, the maximum revenue comes from China, India, Japan, and South Korea, followed by the rest of Asia Pacific. With revenue of US $ 133.12 mn, China has emerged as the most promising country-level market across the globe for TDAE.

North America is the second largest regional market for TDAE, occupying one-fifth of the global share. Demand for industrial rubber products is steadily rising in the United States of America (USA), the biggest country-level market in this region. The automobile industry is a big industry in the USA due to players like General Motors. And that is why demand for rubber is always going to be here. The second biggest market in this region is Canada. In the Latin American region, the market is smaller compared to North America due to less population and less technological advancement. Maximum revenue in this region comes from Brazil and Mexico, followed by rest of Latin America.

Although, Europe was the largest consumer of TDAE earlier and lucrative market for the same, stringent government regulations have restricted the use of TDAE because of which market has reduced in this region. Germany was the leading country-level market and is still the biggest market, compared to other European countries. Other important markets in this region comprise of France, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.

Key Players

The key players in the global treated distillate aromatic extracts market include ATDM (Iran), CPC Corporation (Taiwan), Eagal Petrochem (Iran), Eni s.p.a. (Italy), Gazpromneft-Lubricant Ltd. (Russia), H&R Group (Germany), Lanxess (Germany), Nynas (Sweden), Royal Dutch Shell Plc (Netherlands), and Total S.A. (France).

Latest Industry News

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