PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1950786
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1950786
The global process oil market is projected to grow from USD 5.38 billion in 2025 to USD 6.16 billion in 2030, at a CAGR of 2.8% during the forecast period. Process oils play a vital role in enhancing the performance, flexibility, and processability of materials across multiple industries. By application, the market is segmented into tire & rubber, polymer, personal care, textile, and other applications.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2021-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million), and Volume (Kiloton) |
| Segments | Type, Application, Function, Production Technology, Feedstock, and End User |
| Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
Oils improve elasticity, durability, and processing of products such as tires and industrial rubber goods. In polymers, they enhance plasticization and processability for consumer goods, industrial components, and packaging materials. Personal care uses process oils to improve texture, emollient properties, and moisturization in creams, lotions, and cosmetics. In textiles, they act as lubricants and finishing agents for fibers and fabrics; in other applications, such as adhesives, coatings, paints, and inks, oils optimize workability and performance. Market growth is driven by rising demand from the automotive and consumer goods industries, regulatory focus on safer non-carcinogenic oils, and technological innovations such as gas-to-liquid (GTL) and bio-based oils, offering high purity and sustainable alternatives.

"By type, the non-carcinogenic segment is expected to account for the second-largest share during the forecast period, in terms of value."
Non-carcinogenic process oils are refined oils that deliver high performance while minimizing health risks associated with conventional aromatic oils. By type, Non-Carcinogenic process oils account for the second-largest share of the global process oil market during the forecast period, reflecting their widespread use across industries. They are applied in Tire & Rubber, Polymer, and Other Applications, enhancing elasticity, durability, and processability. In Tire & Rubber, Non-Carcinogenic process oils improve the performance and flexibility of tires and industrial rubber products. In Polymer applications, they aid in plasticization, softness, and handling of engineering and commodity plastics. Market growth is driven by regulatory emphasis on safe chemicals, rising adoption in automotive and consumer goods, growing awareness of occupational safety, and technological advancements in high-purity, non-toxic oils.
"By application, the polymer segment will account for the second-largest market share during the forecast period."
The polymer segment, by application, accounts for the second-largest share of the global process oil market during the forecast period. Process oils in this segment are used to enhance flexibility, plasticization, softness, and processability of polymer materials, improving manufacturing efficiency and the quality of finished products. In polymer applications, these oils support the production of plastics for consumer goods, industrial components, and packaging, ensuring that the resulting materials are durable, easy to handle, and meet performance requirements. The growth of the Polymer segment drives the overall process oil market by creating consistent demand from industries that rely on high-performance plastics. Additionally, increased focus on regulatory compliance, material safety, and technological advancements in high-purity, sustainable process oils is further strengthening market adoption.
"North America is projected to account for the second-largest market share during the forecast period."
North America accounts for the second-largest share of the global process oil market during the forecast period. The region's demand is supported by extensive applications across Tire & Rubber, Polymer, Personal Care, Textile, and Other Applications, where process oils enhance flexibility, durability, plasticization, and processability of materials. In tire & rubber, oils improve the elasticity and performance of tires and industrial rubber products. In Polymer applications, they aid in softening, plasticization, and handling of plastics used in consumer goods, packaging, and industrial components. Personal Care applications benefit from oils that improve texture, enhance emollient properties, and enhance product performance, while in textile applications, they serve as lubricants and finishing agents for fibers and fabrics. Other applications include adhesives, coatings, paints, and inks, where oils optimize workability and quality. Market growth in North America is driven by strong industrial activity in the automotive, manufacturing, and consumer goods sectors, combined with increased regulatory focus on non-carcinogenic, sustainable oils. Technological advancements in high-purity, bio-based oils further strengthen adoption, enabling manufacturers to meet performance, safety, and environmental requirements efficiently.
Exxon Mobil Corporation (US), Chevron Corporation (US), Shell (UK), Petroliam Nasional Berhad (PETRONAS) (Malaysia), and Idemitsu Kosan Co., Ltd. (Japan) are some of the major players operating in the process oil market.
The report segments the process oil market based on type, application, function, production technology, feedstock, end user, and region. It provides detailed information on the major factors influencing the market's growth, including drivers, restraints, opportunities, and challenges. It strategically profiles process oil manufacturers, comprehensively analyzing their market shares and core competencies.
The report is expected to help market leaders/new entrants by providing the closest approximations of revenue figures for the process oil market and its segments. This report is also expected to help stakeholders gain a better understanding of the market's competitive landscape, develop insights to improve their businesses' positions, and develop suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.