Press release
Specialty Oils Market Size Projected to Reach USD 178.8 billion by 2033, Driven by Growing Demand in Automotive and Manufacturing Industries
Specialty Oils Market
The specialty oil industries witnessed promising growth trends in the last decade, and their overall market value was USD 125.4 billion in 2022. Further market growth is anticipated to continue, with a predicted worth of USD 129.2 billion in the current year 2023. The rising use of specialty oils in industries like manufacturing and transportation is supporting this encouraging trend.
Get Ahead with Our Report: Request Your Sample Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-15408
Key Takeaways from the Specialty Oils Market Study Report
- - The overall market is anticipated to experience an absolute dollar growth of nearly USD 50 billion over the next ten years.
The United States is the leading manufacturer as well as consumer of specialty oils and held a global market share of 19.6% in 2022.
- The sales of specialty oils in China are projected to expand at a year-on-year growth rate of 4.1% through 2033. Meanwhile, India is also projected to experience promising growth in this sector and cross a market value of USD 10 billion by 2033.
Competitive Landscape for the Specialty Oils Market Players
Leading specialty oil producers are prepared to take advantage of the growing market prospects by creating a wide range of product lines. By adding sustainable specialty oils to their product line, existing players can satisfy the increased market need and fortify their competitive edge.
Specialty oil manufacturers can make use of technology improvements to streamline their production procedures and raise the quality of their finished products. They may increase their consumer base and seize new market sectors by catering to the particular demands of diverse industries, like automotive, manufacturing, and healthcare.
Key Companies Profiled
Calumet Specialty Products Partners, L.P.
CASTROL LIMITED
Chevron Corporation
Exxon Mobil Corporation
H&R GmbH & Co. KGaA
Eni SpA
Ergon, Inc.
GOC Petrochemicals Private Limited
Grauer & Weil (India) Limited
Gulf Oil Lubricants India Ltd
Idemitsu Kosan Co., Ltd.
BP Plc.
Gandhar Oil Refinery (India) Limited
Quaker Houghton Inc
China Petroleum & Chemical Corp (Sinopec Corporation)
TOTAL Energies
Shell plc.
Nynas AB
Savita Oil Technologies Ltd
Panama Petrochem Ltd.
Petroliam Nasional Berhad (PETRONAS)
Browse the Complete Report! https://www.futuremarketinsights.com/reports/specialty-oils-market
Recent Developments by the Specialty Oils Manufacturing Industries
- Leading chemical company BASF S.E. made a noteworthy statement in 2022 announcing its entry into the market for sustainable specialty oils by developing a new range of products. It utilizes renewable feedstock to create such oils and hopes to meet the changing demands of clients that place a high value on eco-friendly products.
- Global specialty chemicals manufacturer Evonik Inc. made a statement in 2023 outlining its plans to grow in the specialty oil sector. It wants to efficiently meet the rising demand for specialty oils in the Asia Pacific region by establishing facilities to produce them there.
- Akoma, a popular supplier of specialty oils, was acquired by the famous specialty chemicals business Clariant in a significant event in 2023. This purchase was part of Clariant's large growth plan of strengthening the company's position in the international market and diversifying its supply chains.
A well-known energy business company named Idemitsu Kosan announced in 2023 its new range of specialty oils made especially for electric cars (EVs). In contrast to traditional IC engines, electric cars have particular lubricating needs, and these new specialty oils are designed to satisfy the requirements.
Segments Covered in Specialty Oils Industry Survey Report
By Product Type:
White Oil
Automotive Oil
Transformer Oil
Industrial Oil
Liquid Paraffin
Rubber Process Oil
Petroleum Jelly
Other Product Types
By End Users:
Automotive
Power Generation
Pharmaceutical
Personal Care & Cosmetics
Food & Beverages
Manufacturing
Heavy Engineering Equipment
Transmission & Distribution
Other End Users
By Region:
North America Market
Latin America Market
Europe Market
East Asia Market
South Asia & Pacific Market
Middle East & Africa (ME&A) Market
Related Reports:
Bio-Polyamide, Specialty Polyamide and Precursors Market: https://www.futuremarketinsights.com/reports/bio-polyamide-specialty-polyamide-precursors-market
ASEAN Cosmetic Chemicals Market: https://www.futuremarketinsights.com/reports/asean-cosmetic-chemicals-market
Mining Flotation Chemicals Market: https://www.futuremarketinsights.com/reports/global-mining-flotation-chemicals-market
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Specialty Oils Market Size Projected to Reach USD 178.8 billion by 2033, Driven by Growing Demand in Automotive and Manufacturing Industries here
News-ID: 3791531 • Views: …
More Releases from Future Market Insights
Extruded Snacks Market to Reach USD 170.3 Billion by 2035 Amid Health and Conven …
A new market analysis released today projects the global extruded snacks market to surge from an estimated USD 89.9 billion in 2025 to USD 170.3 billion by 2035, demonstrating a robust Compound Annual Growth Rate (CAGR) of 6.6%. The market is set to deliver an impressive absolute dollar opportunity of USD 80.4 billion over the forecast period, driven by a global consumer shift towards convenient, shelf-stable, and healthier snack options.
The…
Global Banana Flakes Market Soars to USD 876.1 million by 2035, Driven by Health …
A new market analysis reveals the global banana flakes market is set to expand significantly, projecting a robust Compound Annual Growth Rate (CAGR) of 4.6% from 2025 to 2035. The market, valued at USD 559.6 million in 2025, is forecast to reach USD 876.1 million by 2035, fueled by a rising consumer preference for natural, gluten-free, and plant-based ingredients in daily food choices.
This press release offers a detailed look into…
Confectionery Fillings Market Sweetens Global Outlook, Projected to Reach USD 2. …
The global confectionery fillings market is poised for significant growth, with a new market analysis revealing a robust expansion fueled by a surge in consumer demand for innovative flavors and indulgent textures. According to the analysis, the market is estimated at USD 1381.2 million in 2025 and is projected to reach USD 2207.4 million by 2035, exhibiting a healthy compound annual growth rate (CAGR) of 4.8% during the forecast period.
The…
Water Softener Market to Skyrocket to USD 8.7 Billion by 2035, Driven by Smart T …
A new market analysis reveals the global water softener market is poised for significant expansion, with a forecasted value of USD 8.7 billion by 2035. The report, covering the period from 2025 to 2035, projects a robust Compound Annual Growth Rate (CAGR) of 8.3%, up from an estimated USD 3.9 billion valuation in 2025. This surge is fueled by a combination of factors, including increasing consumer awareness of hard water's…
More Releases for Oil
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.
Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021…
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The…
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028.
Glance our 200 slides market research and competitive intelligence research report,…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market
The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,…
