Press release
Process Oil Market Overview by Increasing Demands and Sales 2020 to 2026
Process Oil
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Major players in the process oil market are Royal Dutch Shell plc, Chevron Corporation, and Petronas Lubricants Belgium NV, Nynas AB, ORGKHIM Biochemical Holding and Repsol S.A.
Asia Pacific is the largest and fastest growing market for process oils. The market share and growth is attributed to the burgeoning automobile, and the tire manufacturing segment.
North America and Europe posted strong sales in automobile sector which resulted in burgeoning growth in the process oil market. An estimated 17.55 million vehicles were sold in the US in 2016, with pickups and SUV’s the favored vehicles due to low gasoline prices. This trend is expected to reverse as governments impose tough emission legislation. Three major automakers Ford, G.M, and Chrysler are the largest consumers of process oils.
Process Oil Market Taxonomy
On basis of oil type, the process oil market is segmented into:
Naphthenic Oil
Paraffinic Oil
Aromatic Oil
Non-carcinogenic Oils
Treated Distillate Aromatic Extract
Mild Extract Solvated
Residual Aromatic Extract
Bio based Oils
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FAQ
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3. which segment held the largest market in the market 2020?
4. How to maximize ROI with market segmentation
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