Process oils are made by mixing compounds (naphthenic, aromatic and paraffinic) derived from chemical & petroleum refining industries, the oils are colorless, have high saturation, low volatility and are free of aromatics, polar compounds and sulfur. The oil is obtained through refining process like hydrocracking and catalytic dewaxing process. It aids in producing: greases, lubricants, hydraulic fluid, metal working fluids and thermal oils. Process oils are used in a wide range of industries like: polymer, rubber, tire, adhesive, defoamers, plastics, chemical and technical industries (as raw material component or as an aid for processing). Various resources that can be used as process oils are: petroleum oil, fatty acid soaps, esters, waxes, moderately vulcanized rubber, chemical peptizers and liquid polymers.
Process oil Market: Key Players
The research study includes profiles of leading companies operating in the global Process oil market. Key players profiled in the report include: Behran Oil Co, Ergon Inc., San Joaquin Refining Co., Inc., Chevron Corp, Meiwa Corporation, Exxon Mobil Corporation, Nynas AB, Idemitsu Kosan Co., Ltd., Calumet Specialty Products Partners, L.P., Total S.A., Hindustan Petroleum Corporation Limited, Royal Dutch Shell plc., Petroliam Nasional Berhad (PETRONAS), ORGKHIM BIOCHEMICAL HOLDING, Lubline, Avista Oil AG, Savita Oil Technologies Ltd., Panama Petrochem Ltd, Apar Industries Limited, Raj Petro Specialties P. LTD. and Others.
Drivers for the Global Process oil Market:
Rising demand of process oil market in the automotive sector, practice of process oil in the personal care industry, rubber process oils that are used in the process of mixing compounds of rubber are owing to increase the disposable income and increase the growth of the market. And hence the automotive sector is the major driver for the process oil market.
Opportunities for the Global Process oil Market:
Moreover, purpose of process oil is improving and enhancing in various industries like: rubber and automobile industry - processing of rubber and its compounds and also increase in the bulk of the rubber to lessen the cost as rubber process oil is used for the broad range of automotive products like rubber parts of trucks, motorcycles & other machines and health and wellness industry and for premium skincare products. Hence these factors are positively influencing the growth of the market and providing opportunities for the future growth.
Restrains for the Global Process oil Market:
However, various limitations concerned to the convention of polycyclic aromatic hydrocarbons, unstable raw material prices, toxicity due to polycyclic hydrocarbons that are present in the process oils and volatility in the raw materials. Hence these factors are negatively influencing the market and can hamper the growth of the process oil market.
Region Wise, Global Process oil Market Analysis:
Asia Pacific held the highest share in the market due to general economic conditions, increase in the sales of automobiles, increased in the usage of process oil in personal care products and investment in new technology. Besides, North America and Europe held larger share in the market.
Global Process oil Market: Product analysis
Global Process oil Market: Application analysis
- Tire & Rubber
- Personal Care
Global Process oil Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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