Process Oil Market

Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, Non-carcinogenic), Function (Extender Oil, Plasticizer, Solvent, Defoamer), Production Technology (Convention Route, Gas to Liquid, Bio-based), Application and Region - Global Forecast to 2027

Report Code: CH 4085 Mar, 2022, by marketsandmarkets.com

[259 Pages Report] The process oil market is projected to grow from USD 4.8 billion in 2022 to USD 5.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 2.1% during the forecast period. The growth of the process oil market can be attributed to the increased demand for process oil in the tire & rubber application.

Process Oil Market

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COVID-19 Impact on the global process oil market

Process oil is used in various applications, such as tire & rubber, polymer, personal care, and textile. However, due to the pandemic, industries were affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions have slowed the industry's growth during 2019–2020. The effect of COVID-19 on the tire & rubber industry and its raw materials suppliers has been global, with the industry being shut down for a long time in 2020. In the US, there was a 25.5% reduction in passenger tire production with full stoppages in March, April, and May. The total economic impact of COVID-19 on the major tire and rubber manufacturers in 2020 has been huge, with most companies having significantly less earnings. The financial impact of the pandemic has caused many tire makers to conduct strategic reviews of all their operations, which has further reduced the demand for process oil in the market.

Process Oil Market Dynamics

Driver: Growing tire manufacturing industry across the globe

The latest trends in the tire industry include fine tolerances in the tire manufacturing process, use of radial tires to reduce fuel consumption of vehicles, low rolling resistance tires, and focus on improving traction and road performance of tires to increase the fuel efficiency of vehicles. Process oils are among the key ingredients used in tire manufacturing. Global tire consumption is directly dependent on the growth of the automotive industry. The production of vehicles directly affects the demand for tires globally. Thus, the growth of the global automotive industry is expected to drive the process oil market during the forecast period.

Opportunity: Increasing demand for green process oils across the globe

Green process oils are a group of aromatic paraffinic oils, which are known to have aromatic PCAs of less than 3%. As the environmental index recommends PCA of <3%, these oils are used mostly in European and developed countries and by the world’s most trusted automobile brands. TDAE process oils are green process oils with high aromatic content. These oils are non-toxic, non-carcinogenic, and environmentally friendly. TDAE process oils can be used as substitutes for existing aromatic oils. All these factors are expected to lead to increased consumption of TDAE process oils to produce high-quality tires and rubbers across the globe.

Challenge: Fluctuating price of crude oil

Process oils are extracted by refining crude oil through the distillation process. Light distillates of crude oil are refined to manufacture products such as gasoline and diesel, while heavy distillates are used to manufacture base oils and process oils. Thus, fluctuations in the price of crude oil impact the profit margin of the companies that are in the production of process oil. Stiff competition in the process oil market and the fluctuating prices of crude oil have resulted in low margins for their producers and distributors.

Based on application, polymer segment was the second-largest market in 2021

The polymer application was the second-largest segment in 2021, in terms of value. Process oils are utilized in the polymer industry as plasticizing agents, catalyst carriers, extender oils, mold release agents, and pigment-dispersing agents. These oils improve a plastic's wetting properties, expanding the range of substrates that can be used and generating a more flexible plastic.

Based on type, non-carcinogenic segment was the second-largest market in 2021

The non-carcinogenic type was the second-largest segment in 2021, in terms of value. Non-carcinogenic process oils help in improving abrasion resistance and rolling resistance of tires. Tire manufacturers use non-carcinogenic process oils for the manufacturing of Styrene-Butadiene Rubber (SBR).

Based on function, plasticizer segment was the second-largest market in 2021

The plasticizer function was the second-largest segment in 2021, in terms of value. Plasticizers are substances with a low molecular weight that are added to a polymer solution to increase its flexibility and plasticity. As a result, plasticizers improve the efficiency of the polymer solution for film coating. Plasticizers play an important role in the production of rubber.

North America was the second-largest process oil market in 2021, in terms of value

North America is the second-largest process oil market, in terms of value, in 2021. The North American process oil market is expected to witness slow growth, as end-use industries such as rubber and polymer have reached maturity in the region. However, naphthenic, and paraffinic process oils are widely used by tire OEMs in the US, as major refineries in the region producing naphthenic products are based in the country.

Process Oil Market by Region

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Key Market Players

Major companies in the process oil market include Shell plc (UK), Exxon Mobil Corporation (US), TotalEnergies (France), Idemitsu Kosan Co., Ltd. (Japan), Petroliam Nasional Berhad (PETRONAS) (Malaysia), Indian Oil Corporation Ltd (India), Gandhar Oil Refinery (India) Limited (India), HollyFrontier Refining & Marketing LLC (HollyFrontier) (US), Behran Oil Co. (Iran). A total of 31 major players have been covered. These players have adopted expansions, agreements, acquisitions, partnerships, new product launches, and new product developments as the major strategies to consolidate their position in the market.

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Scope of the Report

Report Metric

Details

Market Size Available for Years

2016–2027

Base Year Considered

2021

Forecast Period

2022–2027

Forecast Units

Value (USD Million), Volume (Kiloton)

Segments Covered

Type, Function, Production Technology, Application, and Region

Geographies Covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies Covered

Shell plc (UK), Exxon Mobil Corporation (US), TotalEnergies (France), Idemitsu Kosan Co., Ltd. (Japan), Petroliam Nasional Berhad (PETRONAS) (Malaysia), Indian Oil Corporation Ltd (India), Gandhar Oil Refinery (India) Limited (India), HollyFrontier Refining & Marketing LLC (HollyFrontier) (US), Behran Oil Co. (Iran), ORGKHIM Biochemical Holding (Russia), Repsol (Spain), Hindustan Petroleum Corporation Limited (India), ORLEN Unipetrol (Prague), Panama Petrochem Ltd (India), Nynas AB, (Sweden), H&R Group (Germany), APAR Industries (India), CPC Corporation (Taiwan), LODHA Petro (India), WBF Pte Ltd (Singapore), Swepco (US), Cross Oil (US), Iranol Company (Iran), Vintrol Lubes Pvt. Ltd. (India), Petro Gulf FZC (Dubai), Witmans Industries Private Limited (India), Sterlite Lubricants (India), GP Petroleums (India), Wellbank Global Pte Ltd (Singapore), and Ergon North & South America (US)
(Total of 31 companies)

This research report categorizes the process oil market based on type, function, production technology, application, and region.

Based on Type, the process oil market has been segmented as follows:

  • Naphthenic
  • Paraffinic
  • Non-carcinogenic
  • Aromatic

Based on Function, the process oil market has been segmented as follows:

  • Extender Oil
  • Plasticizer
  • Solvent
  • Defoamer
  • Others

Based on Production Technology, the process oil market has been segmented as follows:

  • Convention Route
  • Gas to Liquid
  • Bio-based

Based on Application, the process oil market has been segmented as follows:

  • Tire & Rubber
  • Polymer
  • Personal Care
  • Textile
  • Others

Based on Region, the process oil market has been segmented as follows:

  • Asia Pacific
  • North America
  • Europe
  • Middle East & Africa 
  • South America

Recent Developments

  • In January 2022, Exxon Mobil and SABIC decided to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output.
  • In November 2020, TotalEnergies finalized the acquisition of 33.3% interest of Tullow’s interests in the Uganda Lake Albert development project, including the East African Crude Oil Pipeline.
  • In June 2019, Idemitsu opened a new lubricant production plant in Huizhou, China and it is to be its second plant in China, with annual production capacity of 120,000 kiloliters.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                    TABLE 1 PROCESS OIL MARKET, BY REGION: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 RESEARCH LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA
          FIGURE 1 PROCESS OIL MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primary interviews
    2.2 MATRIX CONSIDERED FOR DEMAND-SIDE
          FIGURE 2 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING  DEMAND FOR PROCESS OIL
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                    FIGURE 5 METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (1/2)
                    FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (2/2)
                    2.3.2.1 Calculations for supply-side analysis
           2.3.3 FORECAST
    2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
    2.5 DATA TRIANGULATION
          FIGURE 7 PROCESS OIL MARKET: DATA TRIANGULATION
    2.6 KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE  MARKET SIZE
    2.7 LIMITATIONS
    2.8 RISK ANALYSIS

3 EXECUTIVE SUMMARY (Page No. - 48)
    TABLE 2 PROCESS OIL MARKET SNAPSHOT
    FIGURE 8 TIRE & RUBBER TO BE LARGEST APPLICATION OF PROCESS OIL
    FIGURE 9 NON-CARCINOGENIC SEGMENT TO GROW AT HIGHEST CAGR DURING THE FORECAST PERIOD
    FIGURE 10 ASIA PACIFIC TO LEAD PROCESS OIL MARKET

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 SIGNIFICANT OPPORTUNITIES IN PROCESS OIL MARKET
          FIGURE 11 INCREASING DEMAND FOR GREEN PROCESS OILS ACROSS GLOBE TO DRIVE PROCESS OIL MARKET GROWTH
    4.2 PROCESS OIL MARKET, BY REGION
          FIGURE 12 PROCESS OIL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.3 PROCESS OIL MARKET, BY APPLICATION
          FIGURE 13 TIRE & RUBBER SEGMENT HELD LARGEST SHARE IN PROCESS OIL MARKET IN 2021, BY VOLUME
    4.4 PROCESS OIL MARKET, BY TYPE
          FIGURE 14 NAPHTHENIC SEGMENT HELD LARGEST SHARE IN PROCESS OIL MARKET IN 2021, BY VOLUME

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN PROCESS OIL MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing tire manufacturing industry across the globe
                                TABLE 3 CARS AND COMMERCIAL VEHICLES PRODUCTION, BY COUNTRY, 2021
                    5.2.1.2 Increasing demand and consumption of process oils in Asia Pacific
                                FIGURE 16 IMPACT OF DRIVERS ON PROCESS OIL MARKET
           5.2.2 RESTRAINTS
                    5.2.2.1 Implementation of the European Union directive 2005/69/ EC banning use of polycyclic aromatic hydrocarbons in tire manufacturing
                    5.2.2.2 Increased use of soybean oil as alternative for process oils in tire manufacturing
                                FIGURE 17 IMPACT OF RESTRAINTS ON PROCESS OIL MARKET
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing demand for low-viscosity oils for use in vehicles
                    5.2.3.2 Increasing demand for green process oils across the globe
                                FIGURE 18 IMPACT OF OPPORTUNITIES ON PROCESS OIL MARKET
           5.2.4 CHALLENGES
                    5.2.4.1 Fluctuating prices of crude oil
                                FIGURE 19 GLOBAL AVERAGE CRUDE OIL PRICE PER BARREL, 2010–2030
                                FIGURE 20 IMPACT OF CHALLENGES ON PROCESS OIL MARKET
    5.3 PORTER’S FIVE FORCES ANALYSIS
          FIGURE 21 PORTER’S FIVE FORCES ANALYSIS
          TABLE 4 PROCESS OIL MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 ECOSYSTEM/MARKET MAP
          FIGURE 22 PROCESS OIL MARKET: ECOSYSTEM/MARKET MAP
    5.5 VALUE CHAIN
          FIGURE 23 PROCESS OIL MARKET: VALUE CHAIN
    5.6 AVERAGE PRICE TREND
          TABLE 5 AVERAGE PRICE (USD/ TON) OF PROCESS OIL IN KEY REGIONS FOR MAJOR APPLICATIONS, 2021
          FIGURE 24 PROCESS OIL MARKET: AVERAGE PRICE OF PROCESS OIL, BY TYPE
    5.7 CASE STUDY ANALYSIS
           5.7.1 VEGETABLE OIL PLASTICIZERS AS REPLACEMENT FOR PETROLEUM OIL IN RUBBER
    5.8 REGULATORY LANDSCAPE
           5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 8 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.9 PATENT ANALYSIS
          FIGURE 25 NUMBER OF GRANTED PATENTS, PATENT APPLICATIONS, AND LIMITED PATENTS
          FIGURE 26 PUBLICATION TRENDS - LAST 10 YEARS
           5.9.1 INSIGHT
           5.9.2 LEGAL STATUS OF PATENTS
                    FIGURE 27 LEGAL STATUS OF PATENTS
                    FIGURE 28 TOP JURISDICTION, BY DOCUMENT
                    FIGURE 29 TOP 10 COMPANIES/APPLICANTS WITH HIGHEST NUMBER OF PATENTS
                    TABLE 9 LIST OF PATENTS BY THE GOODYEAR TIRE & RUBBER COMPANY
                    TABLE 10 LIST OF PATENTS BY IDEMITSU KOSAN CO., LTD.
                    TABLE 11 LIST OF PATENTS BY EXXONMOBIL CHEMICAL PATENTS INC.
                    TABLE 12 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
    5.10 IMPACT OF COVID-19 ON PROCESS OIL MARKET
           5.10.1 INTRODUCTION
           5.10.2 IMPACT OF COVID-19 ON LIVES AND LIVELIHOOD
           5.10.3 ECONOMIC OUTLOOK
                     TABLE 13 THE TABLE BELOW REPRESENTS THE ECONOMIC OUTLOOK PROJECTED BY THE IMF FOR 2021 AND 2022
           5.10.4 IMPACT OF COVID-19: CUSTOMER ANALYSIS
           5.10.5 IMPACT OF COVID-19 ON PROCESS OIL APPLICATIONS
                    5.10.5.1 Tire & Rubber
                    5.10.5.2 Polymer
                    5.10.5.3 Personal Care
                    5.10.5.4 Textile
    5.11 KEY CONFERENCES & EVENTS IN 2022–2023
           TABLE 14 PROCESS OIL MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.12 TRADE DATA
           5.12.1 SYNTHETIC RUBBER AND FACTICE DERIVED FROM OILS, IN PRIMARY FORMS OR IN PLATES, SHEETS, OR STRIPS: IMPORT DATA
           5.12.2 SYNTHETIC RUBBER AND FACTICE DERIVED FROM OILS, IN PRIMARY FORMS OR IN PLATES, SHEETS, OR STRIPS: EXPORT DATA

6 PROCESS OIL MARKET, BY TYPE (Page No. - 84)
    6.1 INTRODUCTION
          FIGURE 30 NAPHTHENIC SEGMENT TO LEAD PROCESS OIL  MARKET DURING FORECAST PERIOD
          TABLE 15 PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
          TABLE 16 PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
          TABLE 17 PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (KILOTON)
          TABLE 18 PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
    6.2 NAPHTHENIC
           6.2.1 THERMAL STABILITY AND EXCELLENT SOLVENCY PROPERTIES TO INCREASE DEMAND FOR NAPHTHENIC PROCESS OIL
    6.3 PARAFFINIC
           6.3.1 GROWING DEMAND FROM PRINTING INKS INDUSTRY TO FUEL GROWTH
    6.4 NON-CARCINOGENIC
           6.4.1 STRINGENT REGULATIONS TO DRIVE MARKET
    6.5 AROMATIC
           6.5.1 USE OF AROMATIC PROCESS OILS IN AUTOMOTIVE SECTOR TO FUEL GROWTH

7 PROCESS OIL MARKET, BY FUNCTION (Page No. - 88)
    7.1 INTRODUCTION
          FIGURE 31 EXTENDER OIL SEGMENT TO LEAD PROCESS OIL MARKET DURING FORECAST PERIOD
          TABLE 19 PROCESS OIL MARKET SIZE, BY FUNCTION, 2016–2020 (USD MILLION)
          TABLE 20 PROCESS OIL MARKET SIZE, BY FUNCTION, 2021–2027 (USD MILLION)
          TABLE 21 PROCESS OIL MARKET SIZE, BY FUNCTION, 2016–2020 (KILOTON)
          TABLE 22 PROCESS OIL MARKET SIZE, BY FUNCTION, 2021–2027 (KILOTON)
    7.2 EXTENDER OIL
           7.2.1 USE OF EXTENDER OIL IN TIRE & RUBBER GOODS TO FUEL DEMAND
    7.3 PLASTICIZER
           7.3.1 FLEXIBILITY AND PLASTICITY OFFERED BY PLASTICIZERS TO POLYMER SOLUTIONS TO PROPEL DEMAND
    7.4 SOLVENT
           7.4.1 DEMAND FOR SOLVENTS IN PETROLEUM SECTOR TO DRIVE ITS GROWTH
    7.5 DEFOAMER
           7.5.1 REDUCTION OF FOAM FORMATION IN INDUSTRIAL PROCESS WITH DEFOAMERS TO INCREASE DEMAND
    7.6 OTHERS

8 PROCESS OIL MARKET, BY PRODUCTION TECHNOLOGY (Page No. - 93)
    8.1 INTRODUCTION
    8.2 CONVENTION ROUTE
           8.2.1 INCREASED WELL PRODUCTIVITY THROUGH CONVENTION ROUTE TO FUEL DEMAND
    8.3 GAS TO LIQUID (GTL)
           8.3.1 BENEFITS OF GTL TECHNOLOGY IN ENERGY PRODUCTION TO PROPEL DEMAND
    8.4 BIO-BASED
           8.4.1 ADVANCEMENT IN PETROLEUM SECTOR TO ENHANCE GROWTH

9 PROCESS OIL MARKET, BY APPLICATION (Page No. - 95)
    9.1 INTRODUCTION
          FIGURE 32 TIRE & RUBBER APPLICATION TO LEAD PROCESS  OIL MARKET DURING FORECAST PERIOD
          TABLE 23 PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
          TABLE 24 PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
          TABLE 25 PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
          TABLE 26 PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
    9.2 TIRE & RUBBER
           9.2.1 INCREASE IN AUTOMOBILE DEMAND TO DRIVE TIRE & RUBBER APPLICATION
    9.3 POLYMER
           9.3.1 GROWTH OF POLYMER INDUSTRY IN ASIA PACIFIC TO DRIVE THE GROWTH
    9.4 PERSONAL CARE
           9.4.1 INCREASING DEMAND FOR NATURAL SKINCARE PRODUCTS IS DRIVING GROWTH
    9.5 TEXTILE
           9.5.1 ANTI-RUPTURE AND ANTI-DUST FORMATION PROPERTIES HAVE CREATED HIGH DEMAND
    9.6 OTHERS

10 REGIONAL ANALYSIS (Page No. - 100)
     10.1 INTRODUCTION
             FIGURE 33 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
             TABLE 27 PROCESS OIL MARKET SIZE, BY REGION, 2016–2020 (USD MILLION)
             TABLE 28 PROCESS OIL MARKET SIZE, BY REGION, 2021–2027 (USD MILLION)
             TABLE 29 PROCESS OIL MARKET SIZE, BY REGION, 2016–2020 (KILOTON)
             TABLE 30 PROCESS OIL MARKET SIZE, BY REGION, 2021–2027 (KILOTON)
     10.2 ASIA PACIFIC
             FIGURE 34 ASIA PACIFIC: PROCESS OIL MARKET SNAPSHOT
             TABLE 31 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 32 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
             TABLE 33 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (KILOTON)
             TABLE 34 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON)
             TABLE 35 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
             TABLE 36 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
             TABLE 37 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (KILOTON)
             TABLE 38 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
             TABLE 39 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
             TABLE 40 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
             TABLE 41 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
             TABLE 42 ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.1 CHINA
                        10.2.1.1 Increased demand for tire from growing automotive sector to drive consumption of process oil
                                      TABLE 43 CHINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 44 CHINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 45 CHINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 46 CHINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.2 INDIA
                        10.2.2.1 Growth in tire industry to enhance the demand for process oil
                                      TABLE 47 INDIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 48 INDIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 49 INDIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 50 INDIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.3 JAPAN
                        10.2.3.1 Plastic industry contributing significant portion to GDP to enhance the market
                                      TABLE 51 JAPAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 52 JAPAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 53 JAPAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 54 JAPAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.4 SOUTH KOREA
                        10.2.4.1 Growth in personal care & beauty market to propel demand
                                      TABLE 55 SOUTH KOREA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 56 SOUTH KOREA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 57 SOUTH KOREA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 58 SOUTH KOREA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.5 INDONESIA
                        10.2.5.1 Significant increase in production of cars and commercial vehicles to drive market
                                      TABLE 59 INDONESIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 60 INDONESIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 61 INDONESIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 62 INDONESIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.6 THAILAND
                        10.2.6.1 Growth in plastic industry will create demand for process oil
                                      TABLE 63 THAILAND: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 64 THAILAND: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (USD MILLION)
                                      TABLE 65 THAILAND: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 66 THAILAND: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.2.7 REST OF ASIA PACIFIC
                        TABLE 67 REST OF ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                        TABLE 68 REST OF ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                        TABLE 69 REST OF ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                        TABLE 70 REST OF ASIA PACIFIC: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
     10.3 NORTH AMERICA
             FIGURE 35 NORTH AMERICA: PROCESS OIL MARKET SNAPSHOT
             TABLE 71 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 72 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
             TABLE 73 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (KILOTON)
             TABLE 74 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON)
             TABLE 75 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
             TABLE 76 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
             TABLE 77 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (KILOTON)
             TABLE 78 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
             TABLE 79 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
             TABLE 80 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
             TABLE 81 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
             TABLE 82 NORTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.3.1 US
                        10.3.1.1 Increasing sales of passenger vehicles to drive market
                                      TABLE 83 US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 84 US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 85 US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 86 US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.3.2 CANADA
                        10.3.2.1 Growth in pharmaceutical sector to drive market
                                      TABLE 87 CANADA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 88 CANADA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 89 CANADA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 90 CANADA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.3.3 MEXICO
                        10.3.3.1 Growing demand for tires in Mexico to drive market
                                      TABLE 91 MEXICO: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 92 MEXICO: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 93 MEXICO: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 94 MEXICO: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (KILOTON)
     10.4 EUROPE
             FIGURE 36 EUROPE: PROCESS OIL MARKET SNAPSHOT
             TABLE 95 EUROPE: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 96 EUROPE: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
             TABLE 97 EUROPE: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (KILOTON)
             TABLE 98 EUROPE: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON)
             TABLE 99 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
             TABLE 100 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
             TABLE 101 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (KILOTON)
             TABLE 102 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
             TABLE 103 EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
             TABLE 104 EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
             TABLE 105 EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
             TABLE 106 EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.1 RUSSIA
                        10.4.1.1 Rise in polymer application to propel demand
                                      TABLE 107 RUSSIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 108 RUSSIA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (USD MILLION)
                                      TABLE 109 RUSSIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 110 RUSSIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.2 GERMANY
                        10.4.2.1 Growing automotive industry to boost demand for tire application of process oil
                                      TABLE 111 GERMANY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 112 GERMANY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 113 GERMANY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 114 GERMANY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.3 UK
                        10.4.3.1 Advancement in textile industry to drive growth of process oil market
                                      TABLE 115 UK: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 116 UK: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 117 UK: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 118 UK: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.4 FRANCE
                        10.4.4.1 Increasing production of personal care products to fuel market
                                      TABLE 119 FRANCE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 120 FRANCE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 121 FRANCE: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (KILOTON)
                                      TABLE 122 FRANCE: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (KILOTON)
             10.4.5 SPAIN
                        10.4.5.1 Increasing investment in automotive sector to enhance demand
                                      TABLE 123 SPAIN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 124 SPAIN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 125 SPAIN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 126 SPAIN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.6 ITALY
                        10.4.6.1 Growing demand from textile industry to drive process oil market
                                      TABLE 127 ITALY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 128 ITALY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 129 ITALY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 130 ITALY: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.4.7 REST OF EUROPE
                        TABLE 131 REST OF EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                        TABLE 133 REST OF EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                        TABLE 134 REST OF EUROPE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
     10.5 MIDDLE EAST & AFRICA
             TABLE 135 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 136 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
             TABLE 137 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (KILOTON)
             TABLE 138 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY COUNTRY,  2021–2027 (KILOTON)
             TABLE 139 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY TYPE,  2016–2020 (USD MILLION)
             TABLE 140 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
             TABLE 141 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (KILOTON)
             TABLE 142 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
             TABLE 143 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (USD MILLION)
             TABLE 144 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (USD MILLION)
             TABLE 145 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (KILOTON)
             TABLE 146 MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (KILOTON)
             10.5.1 SAUDI ARABIA
                        10.5.1.1 Rising demand for personal care products to boost process oil market
                                      TABLE 147 SAUDI ARABIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 148 SAUDI ARABIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 149 SAUDI ARABIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 150 SAUDI ARABIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.5.2 UAE
                        10.5.2.1 Increasing government investment in automobile sector to contribute to growth of market
                                      TABLE 151 UAE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 152 UAE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 153 UAE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 154 UAE: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.5.3 IRAN
                        10.5.3.1 Development of polymer industry in Iran to drive process oil market
                                      TABLE 155 IRAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 156 IRAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 157 IRAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 158 IRAN: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.5.4 REST OF MIDDLE EAST & AFRICA
                        TABLE 159 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (USD MILLION)
                        TABLE 160 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (USD MILLION)
                        TABLE 161 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (KILOTON)
                        TABLE 162 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (KILOTON)
     10.6 SOUTH AMERICA
             TABLE 163 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 164 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
             TABLE 165 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2016–2020 (KILOTON)
             TABLE 166 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON)
             TABLE 167 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION)
             TABLE 168 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (USD MILLION)
             TABLE 169 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE,  2016–2020 (KILOTON)
             TABLE 170 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY TYPE, 2021–2027 (KILOTON)
             TABLE 171 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
             TABLE 172 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
             TABLE 173 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
             TABLE 174 SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.6.1 BRAZIL
                        10.6.1.1 Textile industry is growing steadily, which is expected to propel demand
                                      TABLE 175 BRAZIL: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 176 BRAZIL: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 177 BRAZIL: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 178 BRAZIL: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.6.2 ARGENTINA
                        10.6.2.1 Growing demand for commercial vehicles will drive market
                                      TABLE 179 ARGENTINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 180 ARGENTINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 181 ARGENTINA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (KILOTON)
                                      TABLE 182 ARGENTINA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.6.3 COLOMBIA
                        10.6.3.1 Growing textile industry to propel demand for process oil
                                      TABLE 183 COLOMBIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (USD MILLION)
                                      TABLE 184 COLOMBIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                      TABLE 185 COLOMBIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2016–2020 (KILOTON)
                                      TABLE 186 COLOMBIA: PROCESS OIL MARKET SIZE, BY APPLICATION, 2021–2027 (KILOTON)
             10.6.4 REST OF SOUTH AMERICA
                        TABLE 187 REST OF SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (USD MILLION)
                        TABLE 188 REST OF SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (USD MILLION)
                        TABLE 189 REST OF SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2016–2020 (KILOTON)
                        TABLE 190 REST OF SOUTH AMERICA: PROCESS OIL MARKET SIZE, BY APPLICATION,  2021–2027 (KILOTON)

11 COMPETITIVE LANDSCAPE (Page No. - 167)
     11.1 STRATEGIES OF KEY PLAYERS
             TABLE 191 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP PLAYERS
     11.2 REVENUE ANALYSIS
             FIGURE 37 REVENUE ANALYSIS FOR KEY COMPANIES IN THE PAST 5 YEARS
     11.3 MARKET SHARE ANALYSIS
             FIGURE 38 PROCESS OIL: MARKET SHARE ANALYSIS
             TABLE 192 PROCESS OIL MARKET: TYPE FOOTPRINT
             TABLE 193 PROCESS OIL MARKET: APPLICATION FOOTPRINT
             TABLE 194 PROCESS OIL MARKET: REGION FOOTPRINT
     11.4 COMPANY EVALUATION MATRIX
             11.4.1 STAR
             11.4.2 EMERGING LEADERS
             11.4.3 PERVASIVE
             11.4.4 PARTICIPANTS
                        FIGURE 39 PROCESS OIL MARKET: COMPANY EVALUATION MATRIX, 2021
                        11.4.4.1 COMPETITIVE BENCHMARKING
                                      TABLE 195 PROCESS OIL MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                                      TABLE 196 PROCESS OIL MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
     11.5 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) MATRIX, 2021
             11.5.1 PROGRESSIVE COMPANIES
             11.5.2 STARTING BLOCKS
             11.5.3 DYNAMIC COMPANIES
             11.5.4 RESPONSIVE COMPANIES
                        FIGURE 40 PROCESS OIL MARKET: SME MATRIX, 2021
     11.6 COMPETITIVE SCENARIO
             TABLE 197 PROCESS OIL MARKET: PRODUCT LAUNCHES, 2018–2022
             TABLE 198 PROCESS OIL MARKET: DEALS, 2018–2022
             TABLE 199 PROCESS OIL MARKET: OTHER DEVELOPMENTS, 2018–2022

12 COMPANY PROFILES (Page No. - 185)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     12.1 SHELL PLC
             TABLE 200 SHELL PLC: COMPANY OVERVIEW
             FIGURE 41 SHELL PLC: COMPANY SNAPSHOT
             TABLE 201 SHELL PLC: PRODUCT OFFERINGS
             TABLE 202 SHELL PLC: DEALS
     12.2 EXXON MOBIL CORPORATION
             TABLE 203 EXXON MOBIL CORPORATION: COMPANY OVERVIEW
             FIGURE 42 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT
             TABLE 204 EXXON MOBIL CORPORATION: PRODUCT OFFERINGS
             TABLE 205 EXXON MOBIL CORPORATION: DEALS
             TABLE 206 EXXON MOBIL CORPORATION: OTHERS
     12.3 TOTALENERGIES
             TABLE 207 TOTALENERGIES: COMPANY OVERVIEW
             FIGURE 43 TOTALENERGIES: COMPANY SNAPSHOT
             TABLE 208 TOTALENERGIES: PRODUCT OFFERINGS
             TABLE 209 TOTALENERGIES: DEALS
     12.4 IDEMITSU KOSAN CO., LTD.
             TABLE 210 IDEMITSU KOSAN CO., LTD.: COMPANY OVERVIEW
             FIGURE 44 IDEMITSU KOSAN CO., LTD.: COMPANY SNAPSHOT
             TABLE 211 IDEMITSU KOSAN CO., LTD: PRODUCT OFFERINGS
             TABLE 212 IDEMITSU KOSAN CO., LTD: PRODUCT LAUNCHES
     12.5 PETROLIAM NASIONAL BERHAD (PETRONAS)
             TABLE 213 PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY OVERVIEW
             FIGURE 45 PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY SNAPSHOT
             TABLE 214 PETROLIAM NASIONAL BERHAD (PETRONAS): PRODUCT OFFERINGS
             TABLE 215 PETROLIAM NASIONAL BERHAD (PETRONAS): DEALS
     12.6 INDIAN OIL CORPORATION LTD
             TABLE 216 INDIAN OIL CORPORATION LTD: COMPANY OVERVIEW
             FIGURE 46 INDIAN OIL CORPORATION LTD: COMPANY SNAPSHOT
             TABLE 217 INDIAN OIL CORPORATION LTD: PRODUCT OFFERINGS
     12.7 GANDHAR OIL REFINERY (INDIA) LIMITED
             TABLE 218 GANDHAR OIL REFINERY (INDIA) LIMITED: COMPANY OVERVIEW
             FIGURE 47 GANDHAR OIL REFINERY (INDIA) LIMITED: COMPANY SNAPSHOT
             TABLE 219 GANDHAR OIL REFINERY (INDIA) LIMITED: PRODUCT OFFERINGS
             TABLE 220 GANDHAR OIL REFINERY (INDIA) LIMITED: DEALS
     12.8 HOLLYFRONTIER REFINING & MARKETING LLC
             TABLE 221 HOLLYFRONTIER REFINING & MARKETING LLC: COMPANY OVERVIEW
             TABLE 222 HOLLYFRONTIER REFINING & MARKETING LLC: PRODUCT OFFERINGS
     12.9 BEHRAN OIL CO.
             TABLE 223 BEHRAN OIL CO.: COMPANY OVERVIEW
             TABLE 224 BEHRAN OIL CO.: PRODUCT OFFERINGS
     12.10 ORGKHIM BIOCHEMICAL HOLDING
             TABLE 225 ORGKHIM BIOCHEMICAL HOLDING: COMPANY OVERVIEW
             TABLE 226 ORGKHIM BIOCHEMICAL HOLDING: PRODUCT OFFERINGS
             TABLE 227 ORGKHIM BIOCHEMICAL HOLDING: DEALS
     12.11 REPSOL
             TABLE 228 REPSOL: COMPANY OVERVIEW
             FIGURE 48 REPSOL: COMPANY SNAPSHOT
             TABLE 229 REPSOL: PRODUCT OFFERINGS
             TABLE 230 REPSOL: DEALS
     12.12 HINDUSTAN PETROLEUM CORPORATION LIMITED
             TABLE 231 HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY OVERVIEW
             FIGURE 49 HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY SNAPSHOT
             TABLE 232 HINDUSTAN PETROLEUM CORPORATION LIMITED: PRODUCT OFFERINGS
     12.13 ORLEN UNIPETROL
             TABLE 233 ORLEN UNIPETROL: COMPANY OVERVIEW
             FIGURE 50 ORLEN UNIPETROL: COMPANY SNAPSHOT
             TABLE 234 ORLEN UNIPETROL: PRODUCT OFFERINGS
     12.14 PANAMA PETROCHEM LTD
             TABLE 235 PANAMA PETROCHEM LTD: COMPANY OVERVIEW
             FIGURE 51 PANAMA PETROCHEM LTD: COMPANY SNAPSHOT
             TABLE 236 PANAMA PETROCHEM LTD: PRODUCT OFFERINGS
     12.15 NYNAS AB
             TABLE 237 NYNAS AB: COMPANY OVERVIEW
             FIGURE 52 NYNAS AB: COMPANY SNAPSHOT
             TABLE 238 NYNAS AB: PRODUCT OFFERINGS
             TABLE 239 NYNAS AB: PRODUCT LAUNCHES
             TABLE 240 NYNAS AB: OTHERS
     12.16 H&R GROUP
             TABLE 241 H&R GROUP: COMPANY OVERVIEW
             FIGURE 53 H&R GROUP: COMPANY SNAPSHOT
             TABLE 242 H&R GROUP: PRODUCT OFFERINGS
     12.17 APAR INDUSTRIES
             TABLE 243 APAR INDUSTRIES: COMPANY OVERVIEW
             FIGURE 54 APAR INDUSTRIES: COMPANY SNAPSHOT
             12.17.2 PRODUCTS/SOLUTIONS/SERVICES OFFERED
                         TABLE 244 APAR INDUSTRIES: PRODUCT OFFERINGS
     12.18 OTHER PLAYERS
             12.18.1 CPC CORPORATION
                         TABLE 245 CPC CORPORATION: COMPANY OVERVIEW
             12.18.2 LODHA PETRO
                         TABLE 246 LODHA PETRO: COMPANY OVERVIEW
             12.18.3 WBF PTE LTD
                         TABLE 247 WBF PTE LTD: COMPANY OVERVIEW
             12.18.4 SWEPCO
                         TABLE 248 SWEPCO: COMPANY OVERVIEW
             12.18.5 CROSS OIL
                         TABLE 249 CROSS OIL: COMPANY OVERVIEW
             12.18.6 IRANOL COMPANY
                         TABLE 250 IRANOL COMPANY: COMPANY OVERVIEW
             12.18.7 VINTROL LUBES PVT. LTD.
                         TABLE 251 VINTROL LUBES PVT. LTD.: COMPANY OVERVIEW
             12.18.8 PETRO GULF FZC
                         TABLE 252 PETRO GULF FZC: COMPANY OVERVIEW
             12.18.9 WITMANS INDUSTRIES PRIVATE LIMITED
                         TABLE 253 WITMANS INDUSTRIES PRIVATE LIMITED: COMPANY OVERVIEW
             12.18.10 STERLITE LUBRICANTS
                         TABLE 254 STERLITE LUBRICANTS: COMPANY OVERVIEW
             12.18.11 GP PETROLEUMS
                         TABLE 255 GP PETROLEUMS: COMPANY OVERVIEW
             12.18.12 WELLBANK GLOBAL PTE LTD
                         TABLE 256 WELLBANK GLOBAL PTE LTD: COMPANY OVERVIEW
             12.18.13 ERGON NORTH & SOUTH AMERICA
                         TABLE 257 ERGON NORTH & SOUTH AMERICA: COMPANY OVERVIEW

*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

13 APPENDIX (Page No. - 253)
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATIONS
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the process oil market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the process oil value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study include annual reports; press releases and investor presentations of companies; white papers; certified publications; and articles by recognized authors, gold- and silver-standard websites, process oil manufacturing companies, regulatory bodies, trade directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.

Primary Research

The process oil market comprises several stakeholders, such as raw material suppliers, processors, end use industries, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of process oil manufacturers, importers/exporters, and manufacturers engaged in the production of various products. The supply side is characterized by the presence of key technology providers for process oil, end users, researchers, and service providers.

In the primary research process, various primary sources from the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side included key opinion leaders, executives, vice presidents, and CEOs of construction companies. The primary sources from the supply side included research institutions involved in R&D activities to introduce new technologies, key opinion leaders, distributors, and process oil manufacturing companies.

Breakdown of the Primary Interviews

Process Oil Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the process oil market. These approaches have also been used extensively to estimate the size of various dependent subsegments of the market. The research methodology used to estimate the market size included the following:

The following segments provide details about the overall market size estimation process employed in this study

  • The key players in the market were identified through secondary research.
  • The market shares in the respective regions were identified through both primary and secondary research.
  • The value chain and market size of the process oil market, in terms of value and volume, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research included the study of annual and financial reports of the top market players and interviews with industry experts, such as CEOs, VPs, directors, sales managers, and marketing executives, for key insights, both quantitative and qualitative.

Global Process oil Market Size: Bottom-Up Approach

Process Oil Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained below, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market was validated using both the top-down and bottom-up approaches.

Report Objectives

Market Intelligence

  • To analyze and forecast the size of the process oil market in terms of value and volume
  • To define, describe, and forecast the market size by type, function, production technology, application, and region
  • To forecast the market size with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the market segments with respect to individual growth trends, prospects, and their contribution to the market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments, such as product launches, and expansions in the process oil market

Competitive Intelligence

  • To identify and profile the key players in the process oil market
  • To determine the top players offering various products in the process oil market
  • To provide a comparative analysis of the market leaders based on the following:
  • Product offerings
  • Business strategies
  • Strengths and weaknesses
  • Key financials
  • To understand the competitive landscape of the market and identify the key growth strategies adopted by the leading players across key regions

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Product matrix, which gives a detailed comparison of the product portfolio of each company
Report Code
CH 4085
Published ON
Mar, 2022
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