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Process Oil Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type, By Function, By Application, By Production Technology, By Region, Competition

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  • 119 Pages
  • June 2023
  • Region: Global
  • TechSci Research
  • ID: 5832698
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Global Process Oil Market is anticipated to grow at a steady pace in the forecast period, 2023-2028. Over the projection period, the market will be driven by the rising use of process oil in end-use sectors, including manufacturing, automotive, cosmetics, and textiles, among others.

Process oils are a mixture of paraffinic, naphthenic, and aromatic chemicals with various molecular weights that are generated from petroleum. They are utilized as raw materials or as a processing aid for materials in a variety of sectors, including rubber & tire, personal care products, polymer, textile, and others. Process oils are manufactured for use in commerce using sophisticated refining techniques, including catalytic dewaxing and advanced hydrocracking.

The growing automotive sector is driving the Global Process Oil Market.

Future growth of the process oil market is anticipated to be driven by the expansion of the automotive sector. Automobile design, production, and retailing are all handled by the automotive industry. The process oils are widely used in the production of floor mats, conveyor belts, automotive parts, and tread rubber since they are compatible with most rubber polymers. For instance, 79.1 million motor cars were produced globally in 2021, up 1.3% from 2020, according to the European Automobile Manufacturers Association (ACEA), a group of automakers based in Belgium. As a result, the expansion of the automobile sector fuels the expansion of the process oil sector.

Rise in the tire manufacturing industry to Fuel the Market.

Process oil demand is being fueled by the rising use of light motor vehicles in developing countries, which is also driving tire demand. Over the past several years, there has been a significant increase in the demand for tires from the two-wheeler market. The tire business is anticipated to benefit from the Asia Pacific market. Over the coming years, Asia Pacific is predicted to see a 3-4% yearly growth in the consumption of natural rubber. The production of tires has advanced more quickly over the last few decades because of the rising standards set by OEMs, consumers, and government regulations. Tire producers are coping with rising worldwide demand, stricter environmental restrictions, and consumer labeling requirements in part by increasing their reliance on automation technologies and building new plants that enable automated procedures.

Rising demand for naphthenic oil and adoption of new technologies

Naphthenic base oil has become a popular additive for oil processing among manufacturers of process oils. Approximately 60% of naphthenic oil is consumed in North America alone. In the upcoming years, it is anticipated that manufacturers will use processed oil more frequently. The region's plentiful supply of naphthenic base process oil is the key factor influencing naphthenic oil utilization in North America. The naphthenic segment of the global process oil market will develop this aspect. The process oil sector has seen significant development recently. One of the important trends observed along the Value & Volume chain of the global process oil market is the implementation of new and cutting-edge technologies to boost the throughput of process oil as well as the strategy of developing collaborations.

Market Segmentation

The Global Process Oil Market is divided based on Type, Function, Application, and Production Technology. Based on Type, the market is divided into Naphthenic, Paraffinic, Aromatic, Non-Carcinogenic, and Others. Based on Function, the market is segmented into Extender Oil, Plasticizers, Solvents, Deformers, and Others. Based on Application, the market is divided into Tire & Rubber, Polymer, Personal Care, Textile, Paints & Coatings, Pharmaceuticals & Others. Based on Production Technology, the market is divided into Convention Route, Gas to Liquid.

Market Players

Major market players in the Global Process Oil Market are Royal Dutch Shell PLC, Exxon Mobil Corporation, Total S.A., Indian Oil Corporation Limited, Petronas Group, Repsol S.A., Hindustan Petroleum Corporation Limited, Idemitsu Kosan Co., Ltd., Unipetrol Group, Panama Petrochem Ltd.

Recent Development

  • In March 2020 - Keysight Technologies launched the Keysight N9021B MXA X-SA contract to market and sold US Ergon Company Process Oils, Inc.'s naphthenic base oils were signed with Cross Oil in August 2022. The business would distribute Cross Oil's CrossTrans, L-Series, Corsol, B-Series, and Ebonite oils through this arrangement.
  • Nynas launched NYTEX 8022 in May 2020. The new device is designed for a variety of high-performance applications. Its high solubility stabilizes compositions for a variety of uses, including ceramic inks, printing inks, and treatments for leather and textiles.

Report Scope:

In this report, the Global Process Oil Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Global Process Oil Market, By Type:

  • Naphthenic
  • Paraffinic
  • Aromatic
  • Non-Carcinogenic
  • Others

Global Process Oil Market, By Function:

  • Extender Oil
  • Plasticizer
  • Solvents
  • Deformers
  • Others

Global Process Oil Market, By Application:

  • Tire & Rubber
  • Polymer
  • Personal Care
  • Textile
  • Paints & Coatings
  • Pharmaceuticals
  • Other

Global Process Oil Market, By Production Technology:

  • Convention Route
  • Gas to Liquid

Global Process Oil Market, By Region:

  • North America
  • United States
  • Mexico
  • Canada
  • Asia-Pacific
  • China
  • India
  • Australia
  • Malaysia
  • Indonesia
  • Europe
  • Russia
  • Netherlands
  • Belgium
  • United Kingdom
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Venezuela
  • Middle East
  • South Arabia
  • South Africa
  • UAE
  • Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Process Oil Market.

Available Customizations:

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Global Process Oil Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Type (Naphthenic, Paraffinic, Aromatic, Non-Carcinogenic Others)
4.2.2. By Function (Extender Oil, Plasticizer, Solvents, Deformers, Others)
4.2.3. By Application (Tire & Rubber, Polymer, Personal Care, Textile, Paints & Coatings, Pharmaceuticals & Others)
4.2.4. By Production Technology (Convention Route, Gas to Liquid)
4.2.5. By Region
4.2.6. By Company (2022)
4.3. Market Map
4.3.1. By Type
4.3.2. By Function
4.3.3. By Application
4.3.4. By Production Technology
4.3.5. By Region
5. Asia-Pacific Process Oil Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By Function
5.2.3. By Application
5.2.4. By Production Technology
5.2.5. By Country
5.3. Asia-Pacific: Country Analysis
5.3.1. China Process Oil Market Outlook
5.3.1.1. Market Size & Forecast
5.3.1.1.1. By Value & Volume
5.3.1.2. Market Share & Forecast
5.3.1.2.1. By Type
5.3.1.2.2. By Function
5.3.1.2.3. By Application
5.3.1.2.4. By Production Technology
5.3.2. India Process Oil Market Outlook
5.3.2.1. Market Size & Forecast
5.3.2.1.1. By Value & Volume
5.3.2.2. Market Share & Forecast
5.3.2.2.1. By Type
5.3.2.2.2. By Function
5.3.2.2.3. By Application
5.3.2.2.4. By Production Technology
5.3.3. Australia Process Oil Market Outlook
5.3.3.1. Market Size & Forecast
5.3.3.1.1. By Value & Volume
5.3.3.2. Market Share & Forecast
5.3.3.2.1. By Type
5.3.3.2.2. By Function
5.3.3.2.3. By Application
5.3.3.2.4. By Production Technology
5.3.4. Malaysia Process Oil Market Outlook
5.3.4.1. Market Size & Forecast
5.3.4.1.1. By Value & Volume
5.3.4.2. Market Share & Forecast
5.3.4.2.1. By Type
5.3.4.2.2. By Function
5.3.4.2.3. By Application
5.3.4.2.4. By Production Technology
5.3.5. Indonesia Process Oil Market Outlook
5.3.5.1. Market Size & Forecast
5.3.5.1.1. By Value & Volume
5.3.5.2. Market Share & Forecast
5.3.5.2.1. By Type
5.3.5.2.2. By Function
5.3.5.2.3. By Application
5.3.5.2.4. By Production Technology
6. Europe Process Oil Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Function
6.2.3. By Application
6.2.4. By Production Technology
6.2.5. By Country
6.3. Europe: Country Analysis
6.3.1. Russia Process Oil Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value & Volume
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Function
6.3.1.2.3. By Application
6.3.1.2.4. By Production Technology
6.3.2. Netherlands Process Oil Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value & Volume
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Function
6.3.2.2.3. By Application
6.3.2.2.4. By Production Technology
6.3.3. Belgium Process Oil Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value & Volume
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Function
6.3.3.2.3. By Application
6.3.3.2.4. By Production Technology
6.3.4. United Kingdom Process Oil Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value & Volume
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Type
6.3.4.2.2. By Function
6.3.4.2.3. By Application
6.3.4.2.4. By Production Technology
7. North America Process Oil Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Function
7.2.3. By Application
7.2.4. By Production Technology
7.2.5. By Country
7.3. North America: Country Analysis
7.3.1. United States Process Oil Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value & Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By Function
7.3.1.2.3. By Application
7.3.1.2.4. By Production Technology
7.3.2. Mexico Process Oil Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By Function
7.3.2.2.3. By Application
7.3.2.2.4. By Production Technology
7.3.3. Canada Process Oil Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By Function
7.3.3.2.3. By Application
7.3.3.2.4. By Production Technology
8. South America Process Oil Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Function
8.2.3. By Application
8.2.4. By Production Technology
8.2.5. By Country
8.3. South America: Country Analysis
8.3.1. Brazil Process Oil Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By Function
8.3.1.2.3. By Application
8.3.1.2.4. By Production Technology
8.3.2. Argentina Process Oil Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By Function
8.3.2.2.3. By Application
8.3.2.2.4. By Production Technology
8.3.3. Colombia Process Oil Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By Function
8.3.3.2.3. By Application
8.3.3.2.4. By Production Technology
8.3.4. Venezuela Process Oil Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value & Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By Function
8.3.4.2.3. By Application
8.3.4.2.4. By Production Technology
9. Middle East and Africa Process Oil Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Function
9.2.3. By Application
9.2.4. By Production Technology
9.2.5. By Country
9.3. MEA: Country Analysis
9.3.1. South Africa Process Oil Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value & Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By Function
9.3.1.2.3. By Application
9.3.1.2.4. By Production Technology
9.3.2. Saudi Arabia Process Oil Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By Function
9.3.2.2.3. By Application
9.3.2.2.4. By Production Technology
9.3.3. UAE Process Oil Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value & Volume
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By Function
9.3.3.2.3. By Application
9.3.3.2.4. By Production Technology
9.3.4. Kuwait Process Oil Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Value & Volume
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Type
9.3.4.2.2. By Function
9.3.4.2.3. By Application
9.3.4.2.4. By Production Technology
10. Market Dynamics
10.1. Drivers
10.1.1. Rise in the tire manufacturing industry
10.1.2. Demand for process oil in the textile market
10.2. Challenges
10.2.1. Fluctuating price of crude oil
10.2.2. Fluctuating raw material prices
11. Market Trends & Developments
11.1. Growing personal care market
11.2. Rising vehicular production
11.3. Growing automotive sector
12. Competitive Landscape
12.1. Royal Dutch Shell PLC
12.1.1. Business Overview
12.1.2. Key Revenue and Financials
12.1.3. Recent Development
12.1.4. Key Personnel
12.1.5. Key Products/Service
12.1.6. SWOT Analysis
12.2. Exxonmobil Corporation
12.2.1. Business Overview
12.2.2. Key Revenue and Financials
12.2.3. Recent Development
12.2.4. Key Personnel
12.2.5. Key Products/Service
12.2.6. SWOT Analysis
12.3. Total S.A.
12.3.1. Business Overview
12.3.2. Key Revenue and Financials
12.3.3. Recent Development
12.3.4. Key Personnel
12.3.5. Key Products/Service
12.3.6. SWOT Analysis
12.4. Indian Oil Corporation Limited
12.4.1. Business Overview
12.4.2. Key Revenue and Financials
12.4.3. Recent Development
12.4.4. Key Personnel
12.4.5. Key Products/Service
12.4.6. SWOT Analysis
12.5. Petronas Group
12.5.1. Business Overview
12.5.2. Key Revenue and Financials
12.5.3. Recent Development
12.5.4. Key Personnel
12.5.5. Key Products/Service
12.5.6. SWOT Analysis
12.6. Repsol S.A.
12.6.1. Business Overview
12.6.2. Key Revenue and Financials
12.6.3. Recent Development
12.6.4. Key Personnel
12.6.5. Key Products/Service
12.6.6. SWOT Analysis
12.7. Hindustan Petroleum Corporation Limited
12.7.1. Business Overview
12.7.2. Key Revenue and Financials
12.7.3. Recent Development
12.7.4. Key Personnel
12.7.5. Key Products/Service
12.7.6. SWOT Analysis
12.8. Idemitsu Kosan Co., Ltd.
12.8.1. Business Overview
12.8.2. Key Revenue and Financials
12.8.3. Recent Development
12.8.4. Key Personnel
12.8.5. Key Products/Service
12.8.6. SWOT Analysis
12.9. Unipetrol Group
12.9.1. Business Overview
12.9.2. Key Revenue and Financials
12.9.3. Recent Development
12.9.4. Key Personnel
12.9.5. Key Products/Service
12.9.6. SWOT Analysis
12.10. Panama Petrochem Ltd
12.10.1. Business Overview
12.10.2. Key Revenue and Financials
12.10.3. Recent Development
12.10.4. Key Personnel
12.10.5. Key Products/Service
12.10.6. SWOT Analysis
13. Strategic Recommendations14. About the Publisher & Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Royal Dutch Shell PLC
  • Exxonmobil Corporation
  • Total S.A.
  • Indian Oil Corporation Limited
  • Petronas Group
  • Repsol S.A.
  • Hindustan Petroleum Corporation Limited
  • Idemitsu Kosan Co., Ltd.
  • Unipetrol Group
  • Panama Petrochem Ltd

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