Skip to main content

Exxon Mobil Corporation

Rubber Process Oil Market to Hit $3.94B by 2031, MarketsandMarkets Says

Rubber Process Oil Market to Hit $3.94B by 2031, MarketsandMarkets Says

Delray Beach, Fla. – September 21, 2026 -- The global rubber process oil (RPO) market is set to expand from $3.30 billion in 2026 to $3.94 billion by 2031, growing at a compound annual growth rate of 3.6%, according to a new report from MarketsandMarkets.

Tire manufacturing drives largest share of oil demand

The tires application segment is projected to register the highest growth at 4.7% CAGR and remains the largest consumer of RPO by value. Manufacturers rely on process oils to balance flexibility, durability, and processing efficiency across passenger, commercial, and specialty tire production. Rising replacement-tire demand and evolving fuel-efficiency standards are reinforcing this consumption base.

Transformer Oil Market to Hit $2.87B by 2031 as Grids Modernize

Transformer Oil Market to Hit $2.87B by 2031 as Grids Modernize

Delray Beach, Fla. – September 18, 2026 -- The global transformer oil market is projected to grow from $2.18 billion in 2026 to $2.87 billion by 2031, expanding at a compound annual growth rate of 5.6%, according to MarketsandMarkets. The market stood at $2.07 billion in 2025.

Grid modernization and renewable integration drive new demand

Utilities and grid operators are accelerating investment in transmission and distribution infrastructure, replacing aging transformers and expanding high-voltage networks to evacuate renewable power. This buildout is fueling demand for insulating fluids used for electrical insulation and heat dissipation in both new and refurbished transformers.