The research professionals additionally assessed the technology of sales and revenue generated in this particular market in fashionable. The record constitutes a qualitative and quantitative assessment of industry analysts, first-hand information, help from enterprise experts and their modern day popularity and each producer of the enterprise through the marketplace fee chain. The Global Process oils market report additionally gives an in-depth survey of key market players, which is based on the business enterprise’s various goals, along with profiling, product outline, production quantity, raw materials required and the enterprise’s monetary health. This record also provides a complete evaluation of developments in the root marketplace, numerous governing factors and macroeconomic indicators, in addition to enhancements in the marketplace in every section. The report covers both nearby and worldwide market evaluation and the projection of the “Global Process oils marketplace.”
Global process oil market is expected to rise to an estimated value of USD 6.2 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the growing use of solution styrene-butadiene rubber (S-SBR) in automobile tires and increasing demand and consumption of process oils in the Asia-Pacific region.
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Global Process Oil Market By Type (Naphthenic, Non-Carcinogenic, Aromatic, Paraffinic), Containing Materials (Peptizers, Fatty Acid Derivatives, Petroleum Oils, Polymers, Waxes), Application (Tire & Rubber, Polymer, Textile, Polymer, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Major Market Competitors: Process oils Market
Some of the major players in the Process Oils Market include Royal Dutch Shell plc, Chevron Corporation, Nynas AB, ORGKHIM Biochemical Holding, Petronas Lubricants Belgium NV, Hindustan Petroleum Corporation Limited, Repsol S.A. and many more.
Process oil is a combination of naphthenic, non-carcinogenic, aromatic, paraffinic used either as an acid for processing or as a raw material. Process oils are refined using solvent extraction, flash solvency, or aromatics. Process oils are used in various industries including personal care, polymer, defoamer, textile, cable fill, and tire.
Major Market Drivers and Restraint:
- Increasing usage of the process oils in the rubber and tire industries
- Growing market for green and eco-friendly oils
- Limitations on the usage of polycyclic aromatic hydrocarbon
The Global Process Oils Market is consolidated due to the presence of a limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
In Depth Market Segmentation:
On the basis of type:- Naphthenic, non-carcinogenic, aromatic, and paraffinic. Non-carcinogenic are further segmented into Treated Distillate Aromatic Extracted Solvent (TDAE), Mild Extracted Solvent (MES), Residual Aromatic Extracted Solvent (RAE), Treated Residual Aromatic Extract (TRAE))
On the basis of containing materials:- Peptizers, fatty acid derivatives, petroleum oils, polymers, and waxes.
On the basis of application:- Tire & rubber, polymer, textile, polymer, and others.
On the basis of geography:-
- North America,
- South America,
- Asia-Pacific and Middle East & Africa.
In 2017, Asia-Pacific is expected to dominate the market.
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