Market Analysis: Process oils Market
The Global Process Oils Market accounted for USD 4.45 billion in 2016 and is projected to grow at a CAGR of 3.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Process oils Market
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 : Process oils Market
- 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
Market Segmentation: Process oils Market
The Process Oils Market is segmented on the basis of type into 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, the market is segmented into peptizers, fatty acid derivatives, petroleum oils, polymers, and waxes.
On the basis of application, the market is segmented into tire & rubber, polymer, textile, polymer, and others.
On the basis of geography, the process oils market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacific is expected to dominate the market.
Competitive Landscape: Process oils Market
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.
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.
Research Methodology: Process oils Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.