The Market Reports

Synopsis
The global market for Process Oil was estimated to be worth US$ 8757 million in 2024 and is forecast to a readjusted size of US$ 12180 million by 2031 with a CAGR of 4.5% during the forecast period 2025-2031.
Process Oils are oils derived from petroleum that can be used in various chemical and technical industries, as raw materials or to optimize tire manufacturing, technical rubbers and polymers. In addition, these oils can be used to make asphalt boards, inks, paints, cable products, and more. The Process Oil industry can be broken down into several segments, Naphthenic, Paraffinic, Aromatic.
The process oil market is relatively stable in terms of sales volume, especially due to its wide application in important industries such as tires, rubber, and metal processing. The demand for high-performance process oils in these fields continues to grow, driving the long-term demand of the market. With the increasing demand for refined and high-performance oils in various industries, the process oil market will continue to expand in the next few years. However, despite the stable sales volume, prices have shown great volatility. Therefore, although the sales volume of the process oil market has a stable basis, the volatility of prices remains an important factor that industry participants need to pay close attention to.
At the regional level, the Chinese market is an important engine for the growth of the global process oil market. In 2024, the Chinese market accounted for 28% of the global market. The rapid growth of the Chinese market is closely related to the strong demand in its manufacturing, automotive and tire manufacturing industries. As one of the global manufacturing centers, China's related industries have a growing demand for high-quality process oils, especially in the fields of tires and rubber, which will further promote the expansion of the domestic process oil market.
From the perspective of product type, process oil products can be divided into three types according to their basic chemical composition: aromatics, cycloalkanes and paraffins, among which aromatics are the most widely used type. In 2024, aromatic process oils accounted for about 43% of the global market share. Aromatic process oils are widely used in tire manufacturing, rubber processing, plastic production and other fields due to their excellent lubricity, chemical stability and high efficiency. Cycloalkane and paraffin process oils have a place in some special applications. Cycloalkane is widely used in metal processing and coatings industries due to its low volatility and chemical stability, while paraffin is often used in personal care and cosmetics due to its high purity and stability.
The tire and rubber industry is one of the largest application areas in the process oil market, accounting for more than 47% of the process oil market in 2024. With the continued growth of the global automotive industry, especially driven by electric vehicles (EV) and high-performance tires, the demand for high-quality process oils is also increasing. The main role of process oil in the rubber industry is to improve the physical properties of rubber, promote the vulcanization process and reduce the production cost of the final product. In addition, metal processing, plastic processing, personal care and textile industries are also important application areas for process oils. In particular, the demand for lubricity and cooling in the metal processing field has led to a steady growth in the demand for high-performance process oils in this field.
The competitive landscape of the global processed oil market is dominated by several large oil companies, including Shell, ExxonMobil, Eni, Moeve (formerly Cepsa), Chevron Corporation, Nynas AB, etc. These major manufacturers account for more than 65% of the market share worldwide. Most companies have multiple factories through global layout, and some factories are close to the raw material production areas, such as China, Qatar, the Middle East, India and Malaysia. These companies maintain their competitiveness through technological innovation, improved production efficiency and optimization of the global supply chain.
In future competition, in addition to product quality and price, the sustainable development strategy of enterprises will become a new focus of competition. Increasing technological innovation, improving production processes, and reducing energy consumption and carbon emissions will become the key for enterprises to stand out in the market. In addition, with the diversification of global consumer demand, especially in the fields of rubber, metal processing and personal care, processed oil products will gradually move towards segmented markets to meet the personalized needs of different customers.
This report aims to provide a comprehensive presentation of the global market for Process Oil, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Process Oil by region & country, by Type, and by Application.
The Process Oil market size, estimations, and forecasts are provided in terms of sales volume (K Tons) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Process Oil.
Market Segmentation
By Company
Shell
ExxonMobil
Eni Oil Products
Moeve (formerly Cepsa)
Chevron
Nynas AB
H&R KGaA
ORGKHIM
APAR Industries
Behran Oil
Segment by Type
Aromatic
Naphthenic
Paraffinic
Segment by Application
Tire & Rubber
Polymer
Personal Care
Textile
Metalworking
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Process Oil manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Process Oil in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Process Oil in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index