PUNE, India, June 23, 2017 /PRNewswire/ --
The report "Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, and Non-carcinogenic), Application (Tire & Rubber, Polymer, Personal Care, Textile), and Region (Asia-Pacific, North America, Europe, Middle East & Africa) - Global Forecasts to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 4.61 Billion in 2017 to USD 5.56 Billion by 2022, at a CAGR of 3.8% from 2017 to 2022.
Browse 105 market data tables and 47 figures spread through 155 pages and in-depth TOC on "Process Oil Market - Global Forecasts to 2022"
Early buyers will receive 10% customization on this report
The growth of the market is driven by the increasing demand for process oils from the tire and rubber industry.
Request for Sample PDF of Report @ http://www.marketsandmarkets.com/pdfdownload.asp?id=70882267
Based on type, the naphthenic segment is estimated to be the largest segment of the process oil market in 2017
Based on type, the naphthenic segment is estimated to be the largest segment of the process oil market in 2017. Asia-Pacific and North America are the major markets for naphthenic process oil, due to the rise in the demand for naphthenic process oils from the tire & rubber and textile applications in these two regions. Naphthenic oil producers operating in these regions include Ergon (U.S.), San Joaquin Refining (U.S.), Tulstar Products Inc. (U.S.), Lubline (U.S.), Cross Oil (U.S.), Idemitsu Kosan Co., Ltd. (Japan), and Hindustan Petroleum Corporation Ltd. (India).
Based on application, the tire & rubber segment is estimated to lead the process oil market in 2017
Process oils increase the performance of rubber and tire products and provide high stability, with a relative inertness towards curing additives. Process oils have low volatility, and high viscosity and plasticity. These properties are expected to drive the use of process oils in the tire & rubber segment, as the oils facilitate the blending and dispersion of fillers in tire and rubber products and improve their elastomer workability.
Asia-Pacific is estimated to dominate the process oil market in 2017
Asia-Pacific is estimated to be the largest market for process oils in 2017 and is projected to witness the highest growth during the forecast period, owing to the increased sales of automobiles in the region. The increased automobile sales are expected to boost the demand for tires and rubbers and consequently drive the consumption of process oils in Asia-Pacific.
Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=70882267
Key players operating in the Process Oil Market include Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), and Petronas Lubricants Belgium NV (Belgium), Nynas AB (Sweden), ORGKHIM Biochemical Holding (Russia), Repsol S.A. (Spain), Avista Oil AG (Germany), and Hindustan Petroleum Corporation Limited (India). Key players in the process oil market are focusing on the development of advanced and improved products.
Browse Related Reports:
Gear Oil Market by Base Oil (Mineral, Synthetic, Semi-Synthetic, Bio-based), End-Use Industry (General Industrial (Manufacturing, Mining, Construction, Oil & Gas), Transportation (Automotive, Marine, Aviation)), Region - Global Forecasts to 2022
Base Oil Market by Type (Group I, Group II, Group III, Group IV, Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluids, Greases, Hydraulic Oil, & Others), by Geography - Global Trends & Forecasts to 2020
Subscribe Reports from Chemicals & Materials Domain http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets