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Process Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

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Process Oil Market: Overview

Process oil is a combination of paraffinic, naphthenic, and aromatic compounds with varying molecular weight. It is used as raw material component or as an aid in processing of materials in industries such as textile, rubber and polymer. Process oil is produced by refining processes such as catalytic dewaxing process and advanced hydrocracking. Process oil obtained after refining is colorless and exhibits high performance qualities such as high saturation, low volatility, and increase in purity and stability. It is nearly free of polar compounds, aromatics, and sulfur.

Materials that can be used as process oil include chemical peptizers, petroleum oil, fatty acid soaps and esters, liquid polymers, partially vulcanized rubber, and waxes. Process oil is used in a wide range of applications in various industries such as plastics, polymer, rubber, tire, adhesives, personal care, defoamers, and textile. 

Process Oil Market Dynamics and Trends

Increase in usage of process oil in personal care and polymer industries, followed by textile industry, is one of the major drivers of the process oil market. Consumers of personal care products are following the trend of using natural-based products. This is boosting the personal care industry. Process oil plays an important role in manufacturing polymer products, which are used in consumer goods, automotive, medical, and industrial sectors. These applications are expected to propel the demand for process oil, resulting in significant growth of the market. In textile industry, it is essential that products made from fibers should have very low ageing effects and discoloration. These products should also avoid formation of electrostatic charge on them and not be prone to easy wear and tear. Process oil is used to achieve these specifications.

Process oil is also used to improve the ability of rubber to get processed in the rubber industry. It also helps to increase the bulk of rubber in order to lower its cost. Furthermore, process oil is employed in a wide range of applications such as spray oils, defoamers, explosives, fertilizers, hot-melt adhesives, optical cable fill gels, petroleum jelly, textile and leather auxiliaries, and thermoplastic elastomers. Thus, the process oil market is expected to continue to expand in the near future.

Process Oil Market: Segmentation

Based on material, the process oil market can be segmented into paraffinic, naphthenic, and aromatic. Based on process oil containing materials, the market can be segmented into peptizers, petroleum oils, fatty acid derivatives, polymers, and waxes. In terms of application, the process oil market can be segmented into personal care, polymer, plastics, rubber, and textile.

Process Oil Market: Region-wise Outlook

In terms of value and volume, Asia Pacific is expected to lead the process oil market due to the increasing demand in the automotive industry. Of late, many companies have been shifting their manufacturing divisions to Asia Pacific due to the easy access to labor, availability of labor at economical costs, and easy availability of raw materials. This is anticipated to boost the process oil market in the region. Thus, Asia Pacific, followed by Europe, dominates the process oil market.

Process Oil Market: Key Players

Key players operating in the process oil market include Phillips 66 Company, Panama Petrochem Ltd., Process Oils Inc., Calumet Specialty Products Partners L.P., Shell Global, Chevron, LUKOIL Oil Company, Repsol, and Avista Oil AG.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


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