PUBLISHER: The Business Research Company | PRODUCT CODE: 1929106
PUBLISHER: The Business Research Company | PRODUCT CODE: 1929106
Process oils are specialized oils derived from petroleum, serving as carriers for other products and finding application as a component in various industries.
The primary types of process oils include naphthenic, paraffinic, non-carcinogenic, and aromatic. Paraffinic denotes a waxy crystalline flammable substance obtained from distillates of wood, coal, petroleum, or shale oil. It is a complex mixture of hydrocarbons and is utilized primarily in coating and sealing, candles, rubber compounding, as well as in pharmaceuticals and cosmetics. These oils serve various functions such as extender oil, plasticizer, solvent, defoamer, among others, and find applications in rubber processing, adhesives and sealants, consumer products, paints and coatings, pharmaceuticals, polymers, and various other industrial applications.
Tariffs have had a noticeable impact on the process oil market by influencing the cost of base oils, additives, and refined petroleum inputs used in manufacturing. Increased import duties on petroleum derivatives have raised production costs for naphthenic, paraffinic, and aromatic process oils, particularly affecting Asia-Pacific and European regions reliant on cross-border sourcing. These tariffs have pressured margins for rubber processing, polymers, and coatings applications. However, higher tariffs have also encouraged domestic refining and local sourcing strategies. This shift has supported regional production stability and reduced long-term dependency on imports.
The process oil market research report is one of a series of new reports from The Business Research Company that provides process oil market statistics, including process oil industry global market size, regional shares, competitors with a process oil market share, detailed process oil market segments, market trends and opportunities, and any further data you may need to thrive in the process oil industry. This process oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The process oil market size has grown strongly in recent years. It will grow from $5.72 billion in 2025 to $6.01 billion in 2026 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to growth of rubber processing industry, expansion of paints and coatings sector, increased use of plasticizers, petroleum refining capacity growth, industrial manufacturing expansion.
The process oil market size is expected to see strong growth in the next few years. It will grow to $7.41 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to stringent safety regulations, demand for specialty polymers, growth in automotive components, expansion of adhesives and sealants market, rising consumer product manufacturing. Major trends in the forecast period include high-purity process oil demand, shift toward non-carcinogenic oils, customization for polymer and rubber grades, rising use in specialty consumer products, process optimization in manufacturing.
The growth of the automotive industry is expected to drive the expansion of the process oil market in the coming years. The automotive industry encompasses the global sector involved in the design, manufacturing, and sale of motor vehicles. Its growth is primarily fueled by rising global vehicle production to meet increasing mobility and transportation demand. Process oils support the automotive industry by improving the performance, flexibility, and durability of rubber and polymer materials used in automotive components such as tires, seals, and mats. For example, in 2023, the Japan Automobile Manufacturers Association reported that global motor vehicle production reached approximately 93.55 million units, up from around 85 million units in 2022. Consequently, the growth of the automotive industry is fueling the process oil market.
Leading companies in the process oil market are developing innovative products like high-octane petrol, which improves engine performance and fuel efficiency while adhering to stricter environmental standards. High-octane petrol is a fuel specifically formulated for use in internal combustion engines, particularly in vehicles. For example, in July 2024, Indian Oil Corporation Limited, a petroleum refining company based in India, introduced STORM-X. STORM-X is a high-octane petrol tailored for racing cars, designed to enhance performance in motorsports and specifically targeting racing enthusiasts and teams.
In August 2023, Process Oils Inc., a US-based supplier of process oils and base oils, acquired MOGoil GmbH for an undisclosed amount. This acquisition allows Process Oils Inc. to bolster its presence in Europe to satisfy the demand for base oils, which are crucial in several industries, including automotive and industrial lubricants. MOGoil GmbH is a process oil provider based in Germany.
Major companies operating in the process oil market are Shell plc, Exxon Mobil Corporation, TotalEnergies SE, Indian Oil Corporation Limited, National Petroleum Limited(PETRONAS), Repsol S. A, Hindustan Petroleum Corporation Limited, Idemitsu Kosan Co. Ltd., Orlen Unipetrol, Panama Petrochem Ltd., Nynas AB, H&R GROUP, Apar Industries Ltd., Gandhar Group, HF Sinclair Corporation, CPC Corporation (Taiwan Chinese Prtroleum Co. ), Chevron Corporation, Ergon Inc., PJSC Gazprom, Saudi Aramco, Calumet Specialty Products Partners L. P., The Phillips 66 Company, Bharat Petroleum Corporation Limited, PJSC Rosneft Oil Company, JX Nippon Oil & Energy, PT Pertamina, Thai Oil Public Company Limited
Asia-Pacific was the largest region in the process oil market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the process oil market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the process oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The process oil market consists of sales of finished lubricants, greases, thermal oils, hydraulic fluid, metal working fluids. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Process Oil Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses process oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for process oil ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The process oil market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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