Global Process Oils Market report published by Accurize Market Research forecast that the global market is expected to reach $6.1 billion by 2025; growing at a CAGR of 3.9% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rising demand for energy along with growing part of renewable in power generation across the globe to drive the growth of the market
Huge demand of the process oil in the automotive sector fuels the demand for the global process oils market. Furthermore, growing investments in the tire industry in several emerging countries also boost the growth of the market.
The global process oils market has been bifurcated on the basis of type, application, and geography. By type, the segmentation is given as naphthenic, paraffinic, aromatic, and non-carcinogenic. By application, the segmentation is given satires & rubber, polymers, personal care products, textiles, and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Top players in the market
The key market players include Gazprom, GpPetroleums Ltd, Hindustan Petroleum Corp. Ltd., Holly frontier Lubricants and Specialty Products, Idemitsu Kosan Co. Ltd., Iranol Co, Jxtg Nippon Oil & Energy Corp, Lanxess Process Oil, NynasAb and Lukoilamong others.