Global Process Oil Market is expected to reach USD XX Billion by 2026 from USD 4.97 Billion in 2018 at a CAGR of XX%.
Surging usage of process oil from the health and wellness industry and for premium skincare products. With the growing demand for personal care products, especially from the developing countries drives the market for process oil market. Process oils in various applications ranging from adhesives, sealants and coatings, automobile, agriculture, oil & gas, construction, textiles, household products and others will further augment the growth of process oil market.
Paraffinic, aromatic, naphthenic and non-carcinogenic are type segments of process oil market. Non-carcinogenic segment holds major share for the process oi market during the forecast period. Non-carcinogenic process oils helps to improve abrasion resistance and rolling resistance of tires. Non-carcinogenic process oils are widely used by tire manufacturers for the manufacturing of Styrene-Butadiene Rubber (SBR).
Tire & rubber, personal care, polymer, textile and others are application segments of process oil market. Tire & rubber segment is leads the market during the forecast period this is attributed to increasing demand for manufacturing tires and rubbers for automobiles from emerging economies, such as China and India.
Geographically, Asia Pacific is expected to be one of the largest markets for process oil during the forecast period due to the growth of the tire and rubber industries in China and India has resulted in the high consumption of process oils in these countries in recent years.
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Scope of the report:
Process Oil Market, by Type:
Process Oil Market, by Application:
• Tire & Rubber
• Personal Care
Process Oil Market, by Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Profiled in the Report:
• Royal Dutch Shell plc. (Netherlands)
• Petronas Lubricants Belgium NV (Belgium)
• Chevron Corporation (U.S.)
• Nynas AB (Sweden)
• Repsol S.A. (Spain)
• ORGKHIM Biochemical Holding (Russia)
• Avista Oil AG (Germany)
• OAO Lukoil (Russia)
• Hindustan Petroleum Corporation Limited (India)
This Report Is Submitted By : Maximize Market Research Company
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