Process Oils Market Opportunities 2025 - Royal Dutch Shell plc, Chevron Corporation, Nynas AB, ORGKHIM Biochemical Holding, Petronas Lubricants Belgium NV, Hindustan Petroleum Corporation Limited, Repsol S.A. Among others
Global Process Oils Market By Type (Naphthenic, Non-Carcinogenic, Aromatic, Paraffinic); By Containing Materials (Peptizers, Fatty Acid Derivatives, Petroleum Oils, Polymers, Waxes) By Application (Tire & Rubber, Polymer, Textile, Polymer, Others), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Global Process Oils Market accounted for USD 4.45 billion in 2016 and is projected to grow at a CAGR of 3.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Process oil is a combination of naphthenic, non-carcinogenic, aromatic, paraffinic used either as an acid for processing or as a raw material. Process oils are refined using solvent extraction, flash solvency, or aromatics. Process oils are used in various industries including personal care, polymer, defoamer, textile, cable fill, and tire.
Top Key Vendors:-
Some of the major players in the process oils market are:
• Royal Dutch Shell plc,
• Chevron Corporation,
• Nynas AB,
• ORGKHIM Biochemical Holding,
• Petronas Lubricants Belgium NV,
• Hindustan Petroleum Corporation Limited,
• Repsol S.A.
• Among others
Major Market Drivers and Restraint:
• Increasing usage of the process oils in the rubber and tire industries
• Growing market for green and eco-friendly oils
• Limitations on the usage of polycyclic aromatic hydrocarbon
In Depth Market Segmentation:
On the basis of type:- Naphthenic, non-carcinogenic, aromatic, and paraffinic. Non-carcinogenic are further segmented into Treated Distillate Aromatic Extracted Solvent (TDAE), Mild Extracted Solvent (MES), Residual Aromatic Extracted Solvent (RAE), Treated Residual Aromatic Extract (TRAE))
On the basis of containing materials:- Peptizers, fatty acid derivatives, petroleum oils, polymers, and waxes.
On the basis of application:- Tire & rubber, polymer, textile, polymer, and others.
On the basis of geography:-
• North America,
• South America,
• Asia-Pacific and Middle East & Africa.
In 2017, Asia-Pacific is expected to dominate the market.
The Global Process Oils Market is consolidated due to the presence of a limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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