According to the research report titled ‘GLOBAL PROCESS OIL MARKET 2019-2027’, available with Market Study Report, global process oil market is expected to showcase 3.85% CAGR and 3.81% CAGR in terms of revenue and volume respectively between 2019 and 2027.
 

Rising adoption of process oil in textile industries along with rapid expansion of personal care sector are key factors driving the growth of global process oil market. Flourishing automotive sector and increasing vehicular production is also augmenting the market remuneration.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2487330/
 

Surging hydrocarbons exploration activities in non-OPEC areas along with growing demand for low polycyclic aromatic hydrocarbon (PAH) oils are also stimulating worldwide process oil industry outlook. However, strict regulations which restrict the use of PAH coupled with advent of dry-type transformers may act as restraining factors to the overall market growth. Additionally, fluctuating prices of raw materials as well as crude oil may also hamper the revenue forecasts of the industry in the forthcoming years.
 

As per type, global process oil market is categorized into non-carcinogenic, aromatic, paraffin, and naphthenic oil. The application scope of the industry comprises of textile, personal care, polymer, tire & rubber, and others.
 

Regionally, global process oil market landscape is segmented into Europe, North America, Latin America, Asia-Pacific and Middle East & Africa, with key focus on countries namely, France, Germany, Italy, Spain, U.K., Canada, U.S., Japan, China, India, Australia & New Zealand, South Korea, Mexico, Brazil, Turkey, UAE, Saudi Arabia, and South Africa among others.
 

As per the report, process oil industry in Middle East & Africa is slated to record significant growth during the forecast period. Growing demand for synthetic rubber in tandem with proliferating sales of both passenger and commercial vehicles are facilitating the business outlook in MEA.
 

The competitive landscape of global process oil market is defined by companies such as PJSC Rosneft Oil Company, PETRONAS Lubricants International, Panama Petrochem Ltd., Orgkhim Biochemical Holding, The PJSC Lukoil Oil Company, Sunoco LP, Nynas AB, ENEOS Corporation (XTG Nippon Oil & Energy Corp.), Iranol Company, Sasol Limited, Repsol S.A., Petróleo Brasileiro S.A., Exxon Mobil Corporation, Idemitsu Kosan Co. Ltd., PetroChina Company Limited, Total SE, Ergon Refining Inc., Calumet Specialty Products Partners L.P., Holly Refining & Marketing Co., Hindustan Petroleum Corp. Ltd., Royal Dutch Shell PLC, Lanxess AG, Apar Industries Limited, GP Petroleums Ltd., PJSC Gazprom, and Chevron Corp. among others.