“The Process Oil Market is projected to grow at a CAGR of 3.8% from 2022 to 2031, in terms of value”
The process oil market is projected to reach USD 5.56 billion by 2031, at a CAGR of 3.8% between 2022 and 2031.
The growth of the market is driven by the increasing demand for process oils from the tire and rubber industry.
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“Based on type, the naphthenic process oil segment is estimated to be the largest segment of the process oil market in 2022”
Based on type, the naphthenic segment is estimated to be the largest segment of the process oil market in 2022, as naphthenic process oils are widely used for the manufacturing of various products, including rubber, inks, plasticizers, and sealants, among others. Naphthenic process oils are light-colored and non-staining compounds that have properties, such as thermal stability, excellent compatibility with synthetic elastomers, greater solvating power than paraffinic oils, and low viscosity.
“Based on application, the tire & rubber segment is projected to witness highest growth during the forecast period”
Process oils increase the performance of rubber and tire products and provide high stability with a relative inertness towards curing additives. Process oils have low volatility, and high viscosity and plasticity. These properties facilitate the blending and dispersion of fillers in tire and rubber products and improve their elastomer workability.
“Asia-Pacific is the fastest-growing market for process oils”
Rise in the sales of automobiles in Asia-Pacific is expected to boost the tire and rubber market, and consequently drive the consumption of process oils in the region. The high growth in emerging economies has made Asia-Pacific a lucrative market for process oil manufacturers. The growth of the tire & rubber market in China and India, has resulted in the high consumption of process oils in recent years.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 42 %, Tier 2 – 25%, Tier 3 – 33%
• By Designation: C level – 65%, Director level – 35%
• By Region: North America – 45%, Europe – 25%, Asia-Pacific – 16%, Middle East & Africa – 8%, South America – 6%
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As a part of the qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. The report defines, describes, and forecasts the process oil market based on type, application, and region. It provides strategic analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market.
It also discusses the competitive strategies adopted by various market players, such as Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), and Petronas Lubricants Belgium NV (Belgium), Nynas AB (Sweden), ORGKHIM Biochemical Holding (Russia), Repsol S.A. (Spain), Avista Oil AG (Germany), and Hindustan Petroleum Corporation Limited (India).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the process oil market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on process oil offered by the top market players
• Product Development/Innovation: Detailed insight into upcoming technologies, research & development activities, and new product launches in the process oil market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for process oils across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the process oil market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the process oil market
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Shibuya Data Count
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