Overview and Scope
Process oils refer to special oils that are derived from petroleum and act as a carrier of other products. The process oil is used as a component of other raw materials in various industries.

Sizing and Forecast
The process oil market size has grown strongly in recent years. It will grow from $5.2 billion in 2023 to $5.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrial growth, automotive sector, construction boom, globalization.

The process oil market size is expected to see strong growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to emerging economies, environmental regulations, automotive innovations, construction and infrastructure projects. Major trends in the forecast period include technological advancements, shift to bio-based process oils, increased emphasis on specialty process oils.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/process-oil-global-market-report

Segmentation & Regional Insights
The process oil market covered in this report is segmented –

1) By Type: Naphthenic, Paraffinic, Non-Carcinogenic, Aromatic
2) By Function: Extender Oil, Plasticizer, Solvent, Defoamer, Other Functions
3) By Application: Rubber Processing, Adhesives And Sealants, Consumer Products, Paints And Coatings, Pharmaceuticals, Polymers, Other Applications

Asia-Pacific was the largest region in the process oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the process oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7710&type=smp

Major Driver Impacting Market Growth
The growth of the automotive industry is expected to propel the growth of the process oil market going forward. The automotive industry is responsible for the design, manufacture, and sale of automobiles. The process oils are compatible with most rubber polymers and are extensively used in the manufacture of automobile tyres, tread rubber, conveyor belts, automotive components, and floor mats. For instance, in 2021, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based automobile manufacturers association, 79.1 million motor vehicles were produced around the world, an increase of 1.3% when compared to previous year. Therefore, the growth of the automotive industry is driving the growth of the process oil market.

Key Industry Players
Major companies operating in the process oil market report are Shell plc, Exxon Mobil Corporation, TotalEnergies SE, Indian Oil Corporation Limited, National Petroleum Limited(PETRONAS), Repsol S. A, Hindustan Petroleum Corporation Limited, Idemitsu Kosan Co. Ltd., Orlen Unipetrol, Panama Petrochem Ltd., Nynas AB, H&R GROUP, Apar Industries Ltd., Gandhar Group, HF Sinclair Corporation, CPC Corporation (Taiwan Chinese Prtroleum Co. ), Chevron Corporation, Ergon Inc., HollyFrontier Refining & Marketing Co., PJSC Gazprom, Saudi Aramco, Devon Energy Corporation, Calumet Specialty Products Partners L. P., The Phillips 66 Company, Indian Oil Corporation Ltd., Bharat Petroleum Corporation Limited, PJSC Rosneft Oil Company, JX Nippon Oil & Energy, PT Pertamina, Thai Oil Public Company Limited

The process oil market report table of contents includes:


1. Executive Summary
2. Process Oil Market Characteristics
3. Process Oil Market Trends And Strategies
4. Process Oil Market - Macro Economic Scenario
5. Global Process Oil Market Size and Growth
..............
31. Global Process Oil Market Competitive Benchmarking
32. Global Process Oil Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Process Oil Market
34. Process Oil Market Future Outlook and Potential Analysis
35. Appendix
Related Reports:
https://goodprnews.com/edge-data-center-market-outlook/
https://goodprnews.com/enterprise-mobility-management-market-analysis/
https://goodprnews.com/field-service-management-market-forecast/
https://goodprnews.com/geotechnical-instrumentation-and-monitoring-market-players/
https://topprnews.com/edge-data-center-market-share/
https://topprnews.com/enterprise-mobility-management-market-insights/
https://topprnews.com/field-service-management-market-research/
https://topprnews.com/geotechnical-instrumentation-and-monitoring-market-drivers/


Explore the trending research reports from TBRC:

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Email: [email protected]

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model