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New York, December 15, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announced the release of the report “Processing Oil Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)”- https://www.reportlinker.com/p06190204/?utm_source=GNW
According to the December 2020 report of the International Trade Center, compared with 2019, retail sales in 2020 are expected to drop by about 11%, of which fashion, clothing and luxury goods are expected to drop by 15-20% under the best conditions. Reduce by 30% in the worst case. The same report also pointed out that textile machinery manufacturers (global) reported a significant decline in sales, and the Italian Textile Machinery Manufacturers Association reported a 44% drop in overseas machinery sales and a 62% drop in local sales.
Main highlights
In the short term, the main factor driving the growth of the studied market is the increase in demand for polymer production.
The surge in rubber oil usage may also increase the demand for processing oil in the next few years.
The Asia-Pacific region is expected to dominate the market, and the highest compound annual growth rate may also occur during the forecast period.
Main market trends
Increased demand for rubber applications
Rubber processing oil is manufactured using petroleum after the more volatile gasoline, and the heating oil fraction is separated by implementing a distillation process.
It is a mixture of aromatic, naphthenic and paraffinic compounds with a wide molecular weight distribution. Used in the rubber industry to improve the processing performance of rubber and rubber compounds, thereby…
The full story can be found on Benzinga.com
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