Industrial, Manufacturing & Heavy Industry Market News

Process oil industry projected to witness a ecological development over 2023

Industrial Market Research

The Global Process Oil Market is accounted for $4.11 billion in 2016 and expected to grow at a CAGR of 5.4% to reach $5.96 billion by 2023.


imageThe market is driven by growth of the end user industries, increasing renewable energy installations and demand for personal care products.

However, limitations on the usage of polycyclic aromatic hydrocarbon (PAH) and rising environmental hazards will impede market growth. Furthermore, fall in crude oil prices will pose challenge for the market.

Moreover, increasing demand for low viscosity oils and increasing demand for green oils (bio-based transformer oil) and next-generation process oils will be the trends that will gain traction.

Get a PDF sample of Process Oil Market @ .

Based on Material, the naphthenic segment is projected to be the largest segment, as they are widely used for the manufacturing of various products. Being rich in aromatic hydrocarbons, the oil displays a high solvency advantage for certain types of additives.

In the tire industry, it works as extender oil in tire rubber and oil-extended polymers. Naphthenic oil for the anti-caking system of fertiliser pellets contribute to a more attractive product.

For instance, in 2016, Nynas AB has produced new high-viscosity product, Nytex 842, to meet the growing market demand for highly refined, high molecular weight process oils.

The paraffinic segment is expected to grow significantly in terms of CAGR during the forecast period. Solvent extracted paraffinic oils are normally 90-95 VI oils that have high flash points, good color stability, low volatility, and a saturate level of 75-93.

Hydrocracked paraffinic oils have a slightly higher flash than solvent extracted oils, clear in color, slightly lower volatility, and a saturate level of 98-99. These oils are particularly good in applications needing low color with stability or in high heat environments.

Among applications, the tire & rubber segment dominated the market because of the increasing surge for fuel efficiency and lower energy consumption in the automotive industry. Asia Pacific accounted for the maximum share of the market which attributes to the growth in the polymer and textile industries.

Additionally, increase in the trade of automobiles has boosted the tire and rubber sector. North America and Latin America are expected to witness significant growth during the forecast period.

In the Latin America, the demand for high quality process oil is gaining traction. Europe holds for the highest consumption of aromatic process oil, due to the beneficial impact of regulations.

Despite EU regulations banning distillate aromatic extract, tire labeling legislation and the burgeoning effect of these regulations on other markets is changing the industry.

Access the full Process Oil Market report @…utlook-2017-2023 .

The key players in Global Process Oil market are Ergon Inc., Chevron Corp, Exxon Mobil Corporation, Nynas AB, Idemitsu Kosan Co., Ltd., Total S.A, Royal Dutch Shell plc., Hindustan Petroleum Corporation Limited, Petroliam Nasional Berhad (PETRONAS), Panama Petrochem Ltd, ORGKHIM BIOCHEMICAL HOLDING, San Joaquin Refining Co., Inc. and Behran Oil Co.

Applications Covered:
Personal care
Rubber & tire
Adhesives & Sealants
Paints & Coatings
Other Applications

Types Covered:
Petroleum Oils
Fatty Acid Derivatives
Liquid Polymers

Materials Covered:
Paraffinic Oils
Naphthenic Oils
Aromatic Oils

Regions Covered:
North America
Rest of Europe
Asia Pacific
New Zealand
South Korea
Rest of Asia Pacific
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Make an Enquiry @…re-buying/454459 .

What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements


News From

Orbis Research - Rendering Conscientious ResearchOrbis Research
Category: Market Research Publishers and RetailersCompany about: Orbis Research ( is a single point aid for all your market research requirements. We have a vast database of reports from the leading publishers and authors across the gl obe. We specialize in delivering customised reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialisation. This helps our clients to map their need, and we produce the perfect requi ...
This email address is being protected from spambots. You need JavaScript enabled to view it.