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Process Oils Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4622663
  • Report
  • April 2021
  • Region: Global
  • 120 pages
  • Mordor Intelligence


  • Chevron Corporation
  • Exxon Mobil Corporation
  • Idemitsu Kosan Co. Ltd
  • Nynas AB
  • PetroChina
  • Repsol
  • MORE
The global process oils market is estimated to witness a healthy growth, at an estimated CAGR of around 3%, through the forecast period. The major factor driving the growth of the market studied is increasing demand from textile industry.
  • Surge in rubber oils usage is also likely to augment the demand for process oils in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends

Surge in Usage of Rubber Oils
  • Rubber process oils function as internal lubricants, improve the blending of rubber formulations, facilitate the incorporation of fillers and other additives, improve certain physical characteristics, and function as low-cost extenders.
  • Process oils (used as softeners for SBR rubbers), and their mixtures (used in tire manufacture) are obtained by the solvent refining process. Rubber process oils are widely used in the manufacture of automotive tires and tubes, bi-cycle tires, tires retreading materials, belting, hoses, bottles, battery containers, extruded products, and technical molded goods.
  • In terms of product segments, aromatics (comprising of DAE, TDAE, RAE, TRAE, and MES) is the largest product segment, accounting for close to 57% of the total demand. The aromatic segment is followed by the naphthenic and paraffinic rubber process oil segment, with nearly 29% and 14% of the total demand, respectively. Aromatics are the most compatible rubber process oils with rubber and rubber products, mainly tires, due to which, their share in consumption is high.
  • Owing to all these factors, the market for process oils is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
  • Asia-Pacific has become an area of immense potential and opportunities, due to the extensive demand for textiles and personal care products in the countries, such as India and China.
  • China has been the biggest textile and apparel exporter in the world since 1994. The country dominates the global, low-to-medium end market by mainly engaging in OEM manufacturing and processing, while the EU continues to dominate the global upmarket and high-quality textiles.
  • At present, penetration of personal care products in India is comparatively lower when compared to developed or even other developing economies. However, improving economic environment and increasing purchasing power of the Indian population is expected to increase the adoption of personal care products in the country.
  • According to a report published by the Ministry of Economy and Industry, the beauty and personal care (BPC) industry in the country is expected to reach more than USD 10 billion by 2021, at an estimated growth rate of 5%-6% annually. The personal care and cosmetics sector in India is expected to register continuous growth, with increasing shelf space in retail stores and boutiques in India.
  • Due to all such factors, the market for process oils in the region is expected to have a steady growth during the forecast period.
Competitive Landscape

The process oils market is partially consolidated in nature. Some of the major players in the market include Chevron Corporation, HollyFrontier Refining & Marketing LLC, HP Lubricants, Royal Dutch Shell Plc, and Total, among others.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
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Note: Product cover images may vary from those shown


  • Chevron Corporation
  • Exxon Mobil Corporation
  • Idemitsu Kosan Co. Ltd
  • Nynas AB
  • PetroChina
  • Repsol
  • MORE
1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Increasing Demand from Textile Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Impact of COVID-19 Pandemic
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 Type
5.1.1 Rubber Oils
5.1.2 White Oils
5.1.3 Aromatic Oils
5.1.4 Paraffinic Oils
5.1.5 Other Types
5.2 Application
5.2.1 Rubber
5.2.2 Polymers
5.2.3 Personal Care
5.2.4 Textile
5.2.5 Other Applications
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Chevron Corporation
6.4.2 Ergon, Inc.
6.4.3 Exxon Mobil Corporation
6.4.4 HollyFrontier Refining & Marketing LLC
6.4.5 HP Lubricants
6.4.6 Idemitsu Kosan Co. Ltd
6.4.7 LUKOIL
6.4.8 Nynas AB
6.4.9 ORGKHIM Biochemical Holding
6.4.10 Panama Petrochem Ltd
6.4.11 PetroChina
6.4.12 PETRONAS Lubricants International
6.4.13 Phillips 66 Company
6.4.14 Repsol
6.4.15 Royal Dutch Shell Plc
6.4.16 Total

Note: Product cover images may vary from those shown
  • Chevron Corporation
  • Ergon, Inc.
  • Exxon Mobil Corporation
  • HollyFrontier Refining & Marketing LLC
  • HP Lubricants
  • Idemitsu Kosan Co. Ltd
  • Nynas AB
  • ORGKHIM Biochemical Holding
  • Panama Petrochem Ltd
  • PetroChina
  • PETRONAS Lubricants International
  • Phillips 66 Company
  • Repsol
  • Royal Dutch Shell Plc
  • Total
Note: Product cover images may vary from those shown