Process Oil Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2017 To 2022
Process oil market will reach $5.56 billion by 2022, at a CAGR of 3.8% between 2017- 2022. Process Oil Market report provide premium insights of top 30 companies’ Business Overview, Products Offered, Services & Business Strategies, Key Insights, Recent Developments with Competitive Situation and Trends
Pune, India – June 28, 2017 /MarketersMedia/ —
“The process oil market is projected to grow at a CAGR of 3.8% from 2017 to 2022, in terms of value”
The process oil market is projected to reach USD 5.56 billion by 2022, at a CAGR of 3.8% between 2017 and 2022. The growth of the market is driven by the increasing demand for process oils from the tire and rubber industry.
The ban on the use of aromatic oils in the manufacturing of rubbers, tires, polymers can restrain the growth of the market in the coming years. 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), and Hindustan Petroleum Corporation Limited (India) are some the key players operational in the process oil market.
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Royal Dutch Shell Plc has a strong geographic presence with operations in over 100 countries across the globe. The company is focusing on expansions as a key growth strategy. The products offered by the company are used for the manufacturing of rubbers, elastomers, and tires to increase the elasticity of the products.
“Based on type, the naphthenic process oil segment is estimated to be the largest segment of the process oil market in 2017”
Based on type, the naphthenic segment is estimated to be the largest segment of the process oil market in 2017, 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.
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“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%
Order a copy of Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, and Non-carcinogenic), Application (Tire & Rubber, Polymer, Personal Care, Textile), and Region (Asia-Pacific, North America, Europe, Middle East & Africa) – Global Forecasts to 2022 Research Report at:
http://www.rnrmarketresearch.com/contacts/purchase?rname=483103
Research Coverage of Process Oil Market:
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 micro markets 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 Petron as 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).
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