During the fractional distillation of crude oil, the heated oil fraction is removed to derive process oils from it. Process oils are more volatile than gasoline and are mixtures of naphthenic, paraffinic, and aromatic compounds in varying proportions. Lubricants play a crucial role in sectors such as automotive, aviation, manufacturing, and marine. They are used for the maintenance of both new and old machines and equipment to reduce friction, which increases over time because of the wear and tear of working surfaces. Manufacturers are focusing on improving the effectiveness of lubricants, as this will, in turn, reducing the maintenance cost incurred in machines and equipment while extending their service life. Process oils are derived from crude oil and are mixtures of the naphthenic, paraffinic, and aromatic compounds in varying proportions.
Technavio’s analysts forecast the global process oil market to grow at a CAGR of 2.56% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global process oil market for 2017-2021. To calculate the market size, the report considers the new sales volumes and excludes the aftermarket/services market.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Process Oil Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Chevron, • Nynas, • PetroChina Company, • Royal Dutch Shell, • TOTAL
Other prominent vendors • Apar Industries • AVISTA OIL • Calumet Specialty Products Partners • Cargill • Cross Oil • ENGEN PETROLEUM • Exxon Mobil • Gandhar Oil • HPCL • Hydrodec Group • HollyFrontier • H&R GROUP • LUKOIL • ORGKHIM Biochemical • Panama Petrochem • Petronas Belgium • Phillips 66 • PROCESS OILS • Raj Petro Specialities • RENKERT OIL • Repsol • Schaeffer Manufacturing • San Joaquin Refining • Valvoline • Witmans Industries
Market driver • Growth of global professional skincare market • For a full, detailed list, view our report
Market challenge • Emergence of dry-type transformers • For a full, detailed list, view our report
Market trend • Next-generation process oils • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors?
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