United States Process Oil Market 2025 | Growth Drivers, Key Players & Investment Opportunities | Leading companies - Shell, ExxonMobil, Total S.A., Avista Oil AG

Market Size and Growth

The Global Process Oil Market is expected to reach at a high CAGR during the forecast period 2023-2030.

Key Development:

United States: Recent Industry Developments

✅ In October 2025, a major U.S. refining group announced a plant upgrade aimed at boosting low-aromatic and highly refined process oil output to support tyre, rubber and polymer makers in North America.

✅ In August 2025, a U.S. chemical company launched a new bio-based process oil grade tailored for personal-care and cosmetic applications, aligning with rising sustainable formulation demand.

✅ In July 2025, a U.S. speciality-oils manufacturer commenced a joint-venture facility expansion to increase production of naphthenic process oils for high-performance plastics in the automotive supply chain.

✅ In June 2025, a U.S. engineering team completed a feasibility study for a next-gen process-oil extraction and refining unit designed for enhanced thermal stability and reduced volatility in industrial oil applications.

Japan: Recent Industry Developments

✅ In September 2025, a major Japanese chemical firm announced the roll-out of a new low-toxicity process oil portfolio for rubber-compounding and high-grade polymer markets domestically and in Asia.

✅ In August 2025, a Japanese manufacturer launched a collaboration with a European specialty-oils firm to co-develop eco-compliant paraffinic process oils for electronics and advanced materials sectors.

✅ In July 2025, a Japanese refinery upgraded its process-oil production lines to deliver higher-purity extender oils for synthetic-rubber manufacturing, supporting Japan's domestic tyre and rubber ecosystem.

✅ In June 2025, a Japanese chemical company invested in R&D of bio-derived process oils and announced a plan to commercialize a pilot line in FY2026 aimed at personal-care and industrial lubricant markets.

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Recent Mergers and acquisitions:

United States: Recent Mergers & Acquisitions

✅ In July 2025, Pacific Petroleum Operating, LLC announced the completion of the acquisition of a portfolio of U.S. oil-producing assets in Wyoming for USD 9.65 million. The deal enhances the company's upstream footprint and strengthens its supply for process oil and specialty base oil feedstocks.

✅ In June 2025, Honeywell International completed its USD 2.16 billion acquisition of Sundyne LLC to expand its refining, petrochemical, and process-fluid equipment capabilities. The move reinforces Honeywell's presence in advanced process technologies and engineered systems.

Japan: Recent Mergers & Acquisitions

✅ In March 2025, JFE Engineering Corporation acquired a 66.6% stake in Sumitomo Chemical Engineering Co., Ltd. to strengthen its position in the chemical-plant engineering and petrochemical infrastructure sector. The acquisition supports Japan's expanding specialty chemical and process oil manufacturing base.

✅ In February 2025, JFE Engineering and Sumitomo Chemical finalized their acquisition agreement for the stake transfer, establishing a new partnership framework to integrate engineering and chemical processing expertise. The collaboration enhances innovation and efficiency in Japan's chemical production sector.

Key Players:

=> Shell, ExxonMobil, Total S.A., Indian Oil Corporation Limited, Petronas Group, Repsol S.A., Panama Petrochem Ltd, H&R Group, Avista Oil AG, and LUKOIL Oil Company are some of the industry's major rivals.

Growth Forecast Projected:

The Global Process Oil Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Process Oil Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Type: Naphthenic, Non-Carcinogenic, Aromatic, Paraffinic, Others
➥ By Component: Peptizers, Fatty Acid Derivatives, Petroleum Oils, Polymers, Waxes, Others
➥ By Application: Tire & Rubber, Polymer, Textile, Personal Care, Automotive, Others

Regional Analysis for Process Oil Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Process Oil producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Process Oil revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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