プロセスオイル市場 : 2029年までの世界予測

Process Oil Market - Global Forecast To 2029

プロセスオイル市場 : タイプ (芳香族、パラフィン系、ナフテン系、非発がん性)、機能 (増量油、可塑剤、溶剤、消泡剤)、生産技術 (従来ルート、ガスから液体、バイオベース)、用途&地域別 - 2029年までの世界予測
Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, Non-carcinogenic), Function (Extender Oil, Plasticizer, Solvent, Defoamer), Production Technology (Convention Route, Gas to Liquid, Bio-based), Application, and Region-Global Forecast to 2029
出版年月2024年6月
ページ数242
図表数334
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The global process oil market is projected to grow from USD 5.2 billion in 2024 to USD 5.6 billion by 2029, at a CAGR of 1.6% during the forecast period.

世界のプロセスオイル市場は、2024年の52億米ドルから2029年までに56億米ドルに、予測期間中に1.6%のCAGRで成長すると予測されています。

プロセスオイル市場 : 2029年までの世界予測

The process oil market is poised for significant expansion, driven by its diverse applications across various industries. Key sectors fueling this growth include tire and rubber manufacturing, polymers, personal care products, and textiles, among others. The versatility of process oils in enhancing the performance and quality of these products is a major factor contributing to the increasing demand.
“Polymer segment, by application, is estimated to account for the second largest segment during the forecast period.”
Polymer applications is accounted for the second largest during the forecast period, in terms of value. Process oils are used in the polymer sector as plasticizers, catalyst carriers, extender oils, mould release agents, and pigment dispersion agents. These oils increase the wetting qualities of plastics, allowing them to be utilised on a wider range of substrates and producing a more flexible plastic.

プロセスオイル市場 : 2029年までの世界予測 ecosystem

“Non-carcinogenic segment, by type, is estimated to account for the second largest segment during the forecast period.”
The non-carcinogenic sector ranked as the second largest segment in terms of value during the forecast period. Non-carcinogenic process oils are essential in enhancing the performance characteristics of tires, specifically by improving abrasion resistance and reducing rolling resistance. These process oils are crucial for tire manufacturers, who utilize them to produce Styrene-Butadiene Rubber (SBR), a key material in the tire industry. By using non-carcinogenic process oils, manufacturers can meet safety and environmental standards while delivering high-quality, durable tires.

“Based on function, plasticizer segment is the second largest market segment during the forecast period“
plasticizers emerged as the second largest segment in the market in terms of value. These low-molecular-weight compounds are integral to enhancing the flexibility and plasticity of polymer solutions. By incorporating plasticizers, the efficiency and effectiveness of polymer solutions used for film coating are significantly improved, leading to superior end-product quality. Additionally, plasticizers play a crucial role in the rubber manufacturing process, contributing to the production of more durable and flexible rubber products. Their widespread application across various industries underscores their importance in modern manufacturing and material science.

“North America region is estimated to account for the second largest region during the forecast period.”
In terms of value and volume, North America is the second largest process oil market during the forecast period. The North American process oil market is predicted to develop slowly, since end-use sectors such as rubber and polymer have matured in the area. However, naphthenic and paraffinic process oils are commonly utilised by tyre OEMs in the United States, where big refineries generating naphthenic products are located.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
• By Region: North America – 30%, Europe – 20%, Asia Pacific – 40%, Middle East & Africa– 7% , South America – 3%,

プロセスオイル市場 : 2029年までの世界予測 region
Major companies in the process oil market include Shell (UK), ExxonMobil (US), Indian Oil Corporation Limited (India), TotalEnergies (France), PETRONAS Group (Malaysia), Hindustan Petroleum Corporation Limited (India), Repsol (Spain), Idemitsu Kosan Co., Ltd (Japan), Nynas AB (Sweden), Panama Petrochem Ltd (India), Apar Industries (India), Hollyfrontier Refining & Marketing LLC (US), and Gandhar Oil Refinery Limited (India).

Research Coverage:
The report defines, projects, and segments the process oil market based on process oil by type, function, application, production technology, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, process oil manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as joint ventures, expansions, acquisitions, and agreements, undertaken by them in the market.

Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the process oil market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (increasing demand and consumption of process oil with rapid industrialization and urbanization in emerging economies, and Growing tire manufacturing industry across the globe), restraints (implementation of the European Union directive 2005/69/EC banning use of polycyclic aromatic hydrocarbons in tire manufacturing, Increased use of soybean oil as alternative for process oils in tire manufacturing), opportunities (increasing demand for green process oils across the globe), and challenges (fluctuating price of crude oil) influencing the growth of the process oil market.

• Product Development/Innovation: Detailed insights on research & development activities, and upcoming technologies in the process oil market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the process oil market across various regions.

• Market Diversification: Exhaustive information about new products, various types, recent developments, untapped geographies, and investments in the process oil market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as ExxonMobil (US), Shell (UK), TotalEnergies (France), Idemitsu Kosan Co., Ltd. (Japan), and Petroliam Nasional Berhad (PETRONAS) (Malaysia), and in the process oil market.

Table of Contents

1            INTRODUCTION            33

1.1         STUDY OBJECTIVES      33

1.2         COMPETITIVE INTELLIGENCE 33

1.3         MARKET DEFINITION   34

1.3.1      INCLUSIONS & EXCLUSIONS     34

TABLE 1             PROCESS OIL MARKET, BY REGION: INCLUSIONS & EXCLUSIONS    34

1.4         MARKET SCOPE             35

FIGURE 1           PROCESS OIL MARKET: MARKET SEGMENTATION         35

1.4.1      YEARS CONSIDERED     36

1.4.2      CURRENCY CONSIDERED          36

1.4.3      UNITS CONSIDERED     36

1.5         RESEARCH LIMITATIONS           36

1.6         STAKEHOLDERS            37

1.7         SUMMARY OF CHANGES            37

2            RESEARCH METHODOLOGY     38

2.1         RESEARCH DATA           38

FIGURE 2           PROCESS OIL MARKET: RESEARCH DESIGN       38

2.1.1      SECONDARY DATA       39

2.1.1.1   Key data from secondary sources     39

2.1.2      PRIMARY DATA 39

2.1.2.1   Key data from primary sources         40

2.1.2.2   Breakdown of interviews with experts            40

2.2         MATRIX CONSIDERED FOR DEMAND SIDE         41

FIGURE 3           MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING  DEMAND FOR PROCESS OIL MARKET        41

2.3         MARKET SIZE ESTIMATION       41

2.3.1      BOTTOM-UP APPROACH           42

FIGURE 4           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       42

2.3.2      TOP-DOWN APPROACH             42

FIGURE 5           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       42

FIGURE 6           METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (1/2)  43

FIGURE 7           METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (2/2)  43

2.3.2.1   Calculations for supply-side analysis 44

2.4         GROWTH FORECAST    44

2.5         DATA TRIANGULATION             45

FIGURE 8           PROCESS OIL MARKET: DATA TRIANGULATION             45

2.6         IMPACT OF RECESSION 46

2.6.1      KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE  MARKET SIZE      46

2.6.2      RESEARCH LIMITATIONS           46

2.6.3      RISK ANALYSIS 47

3            EXECUTIVE SUMMARY 48

TABLE 2             PROCESS OIL MARKET SNAPSHOT: 2024 VS. 2029            48

FIGURE 9           TIRE & RUBBER TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD       49

FIGURE 10         NAPHTHENIC TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD     50

FIGURE 11         EXTENDER OIL TO ACCOUNT FOR LARGER MARKET SHARE DURING  FORECAST PERIOD   50

FIGURE 12         ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD              51

4            PREMIUM INSIGHTS      52

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PROCESS  OIL MARKET            52

FIGURE 13         PROCESS OIL MARKET TO WITNESS SIGNIFICANT GROWTH BETWEEN  2024 AND 2029         52

4.2         PROCESS OIL MARKET, BY APPLICATION           52

FIGURE 14         TIRE & RUBBER TO BE FASTEST-GROWING SEGMENT DURING  FORECAST PERIOD       52

FIGURE 15         NON-CARCINOGENIC TO ACCOUNT FOR HIGHEST CAGR DURING  FORECAST PERIOD   53

FIGURE 16         EXTENDER OIL TO ACCOUNT FOR HIGHEST CAGR DURING  FORECAST PERIOD       53

4.3         PROCESS OIL MARKET, BY MAJOR COUNTRIES 54

FIGURE 17         CHINA TO GROW AT HIGHEST RATE DURING FORECAST PERIOD              54

5            MARKET OVERVIEW     55

5.1         INTRODUCTION            55

5.2         MARKET DYNAMICS     55

FIGURE 18         DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN  PROCESS OIL MARKET        55

5.2.1      DRIVERS            56

5.2.1.1   Growing tire manufacturing industry             56

FIGURE 19         MOTOR VEHICLE PRODUCTION DATA FOR 2021–2022  56

TABLE 3             MOTOR CARS AND COMMERCIAL VEHICLES PRODUCTION, BY COUNTRY, 2023 57

5.2.1.2   Rapid industrialization and urbanization in emerging economies             57

FIGURE 20         URBAN POPULATION OF ECONOMIES  58

5.2.2      RESTRAINTS     58

5.2.2.1   European Union directive 2005/69/EC banning use of polycyclic aromatic hydrocarbons in tire manufacturing 58

5.2.2.2   Increased use of soybean oil as alternative for process oils in tire manufacturing              59

5.2.3      OPPORTUNITIES           59

5.2.3.1   Increasing demand for green process oils       59

5.2.4      CHALLENGES   59

5.2.4.1   Fluctuating prices of crude oil          59

FIGURE 21         US CRUDE OIL FIRST PURCHASE PRICE, 2019–2022         60

6            INDUSTRY TRENDS       61

6.1         VALUE CHAIN  61

FIGURE 22         SUPPLY CHAIN ANALYSIS FOR PROCESS OIL MARKET   61

6.2         MARKET MAP   62

FIGURE 23         MARKET MAP OF PROCESS OIL MARKET            62

TABLE 4             PROCESS OIL MARKET: ROLE IN ECOSYSTEM   62

6.3         PORTER’S FIVE FORCES ANALYSIS         63

FIGURE 24         PORTER’S FIVE FORCES ANALYSIS FOR PROCESS OIL MARKET              63

TABLE 5             PROCESS OIL MARKET: PORTER’S FIVE FORCES ANALYSIS              63

6.3.1      BARGAINING POWER OF SUPPLIERS     64

6.3.2      BARGAINING POWER OF BUYERS           64

6.3.3      THREAT OF NEW ENTRANTS    64

6.3.4      THREAT OF SUBSTITUTES         65

6.3.5      INTENSITY OF COMPETITIVE RIVALRY 65

6.4         PRICING ANALYSIS        66

6.4.1      AVERAGE PRICE OF PROCESS OIL, BY REGION  66

FIGURE 25         PROCESS OIL MARKET: AVERAGE PRICE OF PROCESS OIL, BY REGION             66

6.4.2      AVERAGE PRICE OF PROCESS OIL, BY TYPE       66

FIGURE 26         PROCESS OIL MARKET: AVERAGE PRICE OF PROCESS OIL, BY TYPE    66

6.5         TARIFF AND REGULATORY LANDSCAPE            67

6.5.1      TARIFF 67

6.5.2      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          67

6.5.3      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          68

TABLE 6             NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS      68

TABLE 7             EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 68

TABLE 8             ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS      68

6.6         KEY CONFERENCES AND EVENTS, 2024–2025     69

TABLE 9             PROCESS OILS MARKET: KEY CONFERENCES AND EVENTS, 2024–2025          69

6.7         KEY STAKEHOLDERS AND BUYING CRITERIA    70

6.7.1      KEY STAKEHOLDERS IN BUYING PROCESS         70

FIGURE 27         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR  PRODUCT TYPES         70

TABLE 10           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR PRODUCT TYPES (%)    70

6.7.2      BUYING CRITERIA         70

FIGURE 28         KEY BUYING CRITERIA FOR TOP THREE END USES        70

TABLE 11           KEY BUYING CRITERIA FOR TOP THREE SOURCES         71

6.8         PATENT ANALYSIS        71

6.8.1      METHODOLOGY           71

FIGURE 29         LIST OF MAJOR PATENTS FOR PROCESS OIL     72

6.8.2      MAJOR PATENTS           72

6.9         TECHNOLOGY ANALYSIS           73

6.9.1      KEY TECHNOLOGIES    73

6.9.1.1   Green rubber process oil    73

6.9.2      ADJACENT TECHNOLOGIES      75

6.9.2.1   Bio-Based Base Oil            75

6.10       TRADE DATA    76

6.10.1    IMPORT DATA 76

TABLE 12           IMPORT DATA ON CRUDE OIL  76

6.10.2    EXPORT DATA 76

TABLE 13           EXPORT DATA ON CRUDE OIL  76

6.11       TREND/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS      77

7            PROCESS OIL MARKET, BY FUNCTION  78

7.1         INTRODUCTION            79

FIGURE 30         EXTENDER OIL TO BE LARGEST SEGMENT DURING FORECAST PERIOD              79

TABLE 14           PROCESS OIL MARKET, BY FUNCTION, 2018–2021 (KILOTON)              79

TABLE 15           PROCESS OIL MARKET, BY FUNCTION, 2022–2029 (KILOTON)              80

TABLE 16           PROCESS OIL MARKET, BY FUNCTION, 2018–2021 (USD MILLION)          80

TABLE 17           PROCESS OIL MARKET, BY FUNCTION, 2022–2029 (USD MILLION)          80

7.2         EXTENDER OIL 81

7.2.1      USE OF EXTENDER OIL IN TIRE & RUBBER GOODS TO FUEL DEMAND              81

7.3         PLASTICIZER    81

7.3.1      ENHANCED FLEXIBILITY AND PLASTICITY OF POLYMER SOLUTIONS TO PROPEL DEMAND   81

7.4         SOLVENT          81

7.4.1      DEMAND FOR SOLVENTS IN PETROLEUM SECTOR TO DRIVE GROWTH          81

7.5         DEFOAMER       82

7.5.1      REDUCTION OF FOAM FORMATION IN INDUSTRIAL PROCESS WITH DEFOAMERS TO INCREASE DEMAND    82

7.6         OTHER FUNCTIONS      82

8            PROCESS OIL MARKET, BY PRODUCTION TECHNOLOGY           83

8.1         INTRODUCTION            83

8.2         CONVENTION ROUTE  83

8.2.1      INCREASED WELL PRODUCTIVITY THROUGH CONVENTION ROUTE TO FUEL DEMAND        83

8.3         GAS TO LIQUID (GTL)  83

8.3.1      BENEFITS OF GTL TECHNOLOGY IN ENERGY PRODUCTION TO PROPEL DEMAND         83

8.4         BIO-BASED        84

8.4.1      ADVANCEMENT IN PETROLEUM SECTOR TO ENHANCE GROWTH              84

9            PROCESS OIL MARKET, BY TYPE            85

9.1         INTRODUCTION            86

FIGURE 31         NAPHTHENIC TO ACCOUNT FOR LARGEST SEGMENT IN PROCESS OIL MARKET DURING FORECAST PERIOD      86

TABLE 18           PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 86

TABLE 19           PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 86

TABLE 20           PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION)              87

TABLE 21           PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION)              87

9.2         NAPHTHENIC   87

9.2.1      THERMAL STABILITY AND EXCELLENT SOLVENCY PROPERTIES TO INCREASE DEMAND      87

TABLE 22           NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 88

TABLE 23           NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 88

TABLE 24           NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON)       88

TABLE 25           NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON)       89

9.3         PARAFFINIC      89

9.3.1      GROWING DEMAND FROM PRINTING INK INDUSTRY TO FUEL GROWTH          89

TABLE 26           PARAFFINIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 89

TABLE 27           PARAFFINIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 90

TABLE 28           PARAFFINIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON)       90

TABLE 29           PARAFFINIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON)       90

9.4         NON-CARCINOGENIC   91

9.4.1      STRINGENT REGULATIONS TO DRIVE MARKET              91

TABLE 30           NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION)          91

TABLE 31           NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION)          91

TABLE 32           NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON)   92

TABLE 33           NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON)   92

9.5         AROMATIC        92

9.5.1      USE OF AROMATIC PROCESS OILS IN AUTOMOTIVE SECTOR TO FUEL GROWTH          92

TABLE 34           AROMATIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION)          93

TABLE 35           AROMATIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION)          93

TABLE 36           AROMATIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON)       93

TABLE 37           AROMATIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON)       94

10          PROCESS OIL MARKET, BY APPLICATION           95

10.1       INTRODUCTION            96

FIGURE 32         TIRE & RUBBER APPLICATION TO LEAD PROCESS OIL MARKET DURING FORECAST PERIOD     96

TABLE 38           PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          96

TABLE 39           PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          97

TABLE 40           PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       97

TABLE 41           PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       97

10.2       TIRE & RUBBER 98

10.2.1    INCREASE IN AUTOMOBILE DEMAND TO DRIVE SEGMENT       98

10.3       POLYMER          98

10.3.1    GROWTH OF POLYMER INDUSTRY IN ASIA PACIFIC TO DRIVE MARKET              98

10.4       PERSONAL CARE           98

10.4.1    INCREASING DEMAND FOR NATURAL SKINCARE PRODUCTS TO DRIVE GROWTH            98

10.5       TEXTILE            99

10.5.1    HIGH DEMAND IN TEXTILE DUE TO ANTI-RUPTURE AND ANTI-DUST FORMATION PROPERTIES         99

10.6       OTHERS             99

11          PROCESS OIL MARKET, BY REGION       100

11.1       INTRODUCTION            101

FIGURE 33         ASIA PACIFIC TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD       101

TABLE 42           PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION)              101

TABLE 43           PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION)              102

TABLE 44           PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON)              102

TABLE 45           PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON)              102

11.2       ASIA PACIFIC    103

11.2.1    RECESSION IMPACT      103

FIGURE 34         ASIA PACIFIC: PROCESS OIL MARKET SNAPSHOT           103

TABLE 46           ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 104

TABLE 47           ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 104

TABLE 48           ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON)       104

TABLE 49           ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON)       105

TABLE 50           ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION)          105

TABLE 51           ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION)          105

TABLE 52           ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON)       106

TABLE 53           ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON)       106

TABLE 54           ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     106

TABLE 55           ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     107

TABLE 56           ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             107

TABLE 57           ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             107

11.2.2    CHINA  108

11.2.2.1 Increased demand for tires to drive consumption of process oil  108

TABLE 58           CHINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 108

TABLE 59           CHINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 108

TABLE 60           CHINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       109

TABLE 61           CHINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       109

11.2.3    INDIA   109

11.2.3.1 Growth in tire industry to increase demand   109

TABLE 62           INDIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 109

TABLE 63           INDIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 110

TABLE 64           INDIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       110

TABLE 65           INDIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       110

11.2.4    JAPAN  111

11.2.4.1 Growing plastic industry to enhance market   111

TABLE 66           JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 111

TABLE 67           JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 111

TABLE 68           JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       112

TABLE 69           JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       112

11.2.5    SOUTH KOREA 112

11.2.5.1 Growth in personal care & beauty market to propel demand      112

TABLE 70           SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          113

TABLE 71           SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          113

TABLE 72           SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)   113

TABLE 73           SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)   114

11.2.6    INDONESIA       114

11.2.6.1 Significant increase in production of cars and commercial vehicles to drive market              114

TABLE 74           INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     114

TABLE 75           INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     115

TABLE 76           INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             115

TABLE 77           INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             115

11.2.7    THAILAND        116

11.2.7.1 Growth in plastic industry to create high demand        116

TABLE 78           THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     116

TABLE 79           THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     116

TABLE 80           THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             117

TABLE 81           THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             117

11.2.8    REST OF ASIA PACIFIC  117

TABLE 82           REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (USD MILLION)        117

TABLE 83           REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (USD MILLION)        118

TABLE 84           REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)    118

TABLE 85           REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)    118

11.3       NORTH AMERICA          119

11.3.1    RECESSION IMPACT      119

FIGURE 35         NORTH AMERICA: PROCESS OIL MARKET SNAPSHOT   119

TABLE 86           NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION)     120

TABLE 87           NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION)     120

TABLE 88           NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON)             120

TABLE 89           NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON)             120

TABLE 90           NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 121

TABLE 91           NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 121

TABLE 92           NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON)       121

TABLE 93           NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON)       122

TABLE 94           NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          122

TABLE 95           NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          122

TABLE 96           NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)   123

TABLE 97           NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)   123

11.3.2    US         123

11.3.2.1 Increasing sales of passenger vehicles to drive market  123

TABLE 98           US: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          124

TABLE 99           US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2022–2029 (USD MILLION) 124

TABLE 100         US: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       124

TABLE 101         US: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       125

11.3.3    CANADA            125

11.3.3.1 Growth in automotive sector to drive market 125

TABLE 102         CANADA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 125

TABLE 103         CANADA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 126

TABLE 104         CANADA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       126

TABLE 105         CANADA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       126

11.3.4    MEXICO             127

11.3.4.1 Growing demand for tires to drive market      127

TABLE 106         MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 127

TABLE 107         MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 127

TABLE 108         MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       127

TABLE 109         MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       128

11.4       EUROPE             128

11.4.1    RECESSION IMPACT      128

FIGURE 36         EUROPE: PROCESS OIL MARKET SNAPSHOT     129

TABLE 110         EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION)          129

TABLE 111         EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION)          130

TABLE 112         EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON)       130

TABLE 113         EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON)       130

TABLE 114         EUROPE: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION)          131

TABLE 115         EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2022–2029 (USD MILLION)          131

TABLE 116         EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2018–2021 (KILOTON)       131

TABLE 117         EUROPE: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON)       132

TABLE 118         EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 132

TABLE 119         EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 132

TABLE 120         EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       133

TABLE 121         EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       133

11.4.2    RUSSIA 133

11.4.2.1 Rise in rubber and polymer industry to propel demand 133

TABLE 122         RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 134

TABLE 123         RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 134

TABLE 124         RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       134

TABLE 125         RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       135

11.4.3    GERMANY         135

11.4.3.1 Growing automotive industry to boost demand for tires             135

TABLE 126         GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     135

TABLE 127         GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     136

TABLE 128         GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             136

TABLE 129         GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             136

11.4.4    UK         137

11.4.4.1 Advancement in textile industry to drive market          137

TABLE 130         UK: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          137

TABLE 131         UK: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          137

TABLE 132         UK: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       138

TABLE 133         UK: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       138

11.4.5    FRANCE             138

11.4.5.1 Increasing production of personal care products to fuel market  138

TABLE 134         FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 139

TABLE 135         FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 139

TABLE 136         FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       139

TABLE 137         FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       140

11.4.6    SPAIN   140

11.4.6.1 Increasing investment in automotive sector to enhance demand 140

TABLE 138         SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 140

TABLE 139         SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 141

TABLE 140         SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       141

TABLE 141         SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       141

11.4.7    ITALY   142

11.4.7.1 Growing demand from textile industry to drive market 142

TABLE 142         ITALY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 142

TABLE 143         ITALY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 142

TABLE 144         ITALY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       143

TABLE 145         ITALY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       143

11.4.8    REST OF EUROPE           143

TABLE 146         REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          143

TABLE 147         REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          144

TABLE 148         REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)   144

TABLE 149         REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)   144

11.5       MIDDLE EAST & AFRICA             145

11.5.1    RECESSION IMPACT      145

TABLE 150         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY,  2018–2021 (USD MILLION)          145

TABLE 151         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY,  2022–2029 (USD MILLION)          145

TABLE 152         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON)   146

TABLE 153         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON)   146

TABLE 154         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION)          146

TABLE 155         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION)          147

TABLE 156         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON)   147

TABLE 157         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON)   147

TABLE 158         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (USD MILLION)        148

TABLE 159         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (USD MILLION)        148

TABLE 160         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)    148

TABLE 161         MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)    149

11.5.2    SAUDI ARABIA  149

11.5.2.1 Rising demand for personal care products to drive market          149

TABLE 162         SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     149

TABLE 163         SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     150

TABLE 164         SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             150

TABLE 165         SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             150

11.5.3    UAE      151

11.5.3.1 Increasing government investment in automobile sector to contribute to market growth   151

TABLE 166         UAE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          151

TABLE 167         UAE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          151

TABLE 168         UAE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       152

TABLE 169         UAE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       152

11.5.4    IRAN     152

11.5.4.1 Development of polymer industry to drive market        152

TABLE 170         IRAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 153

TABLE 171         IRAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 153

TABLE 172         IRAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       153

TABLE 173         IRAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       154

11.5.5    REST OF MIDDLE EAST & AFRICA           154

TABLE 174         REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (USD MILLION)        154

TABLE 175         REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (USD MILLION)        155

TABLE 176         REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (KILOTON)  155

TABLE 177         REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (KILOTON)  155

11.6       SOUTH AMERICA           156

11.6.1    RECESSION IMPACT      156

TABLE 178         SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION)     156

TABLE 179         SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION)     156

TABLE 180         SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON)             157

TABLE 181         SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON)             157

TABLE 182         SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 157

TABLE 183         SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 158

TABLE 184         SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON)       158

TABLE 185         SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON)       158

TABLE 186         SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)          159

TABLE 187         SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)          159

TABLE 188         SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)   159

TABLE 189         SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)   160

11.6.2    BRAZIL 160

11.6.2.1 Textile industry growth to drive demand        160

TABLE 190         BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 160

TABLE 191         BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 161

TABLE 192         BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)       161

TABLE 193         BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)       161

11.6.3    ARGENTINA      162

11.6.3.1 Growing demand for commercial vehicles to drive market          162

TABLE 194         ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     162

TABLE 195         ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     162

TABLE 196         ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON)             163

TABLE 197         ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             163

11.6.4    COLOMBIA       163

11.6.4.1 Growing textile industry to increase demand  163

TABLE 198         COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION)     164

TABLE 199         COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION)     164

TABLE 200         COLOMBIA: PROCESS OIL MARKET BY APPLICATION, 2018–2021 (KILOTON)             164

TABLE 201         COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON)             165

11.6.5    REST OF SOUTH AMERICA         165

TABLE 202         REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (USD MILLION)        165

TABLE 203         REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (USD MILLION)        166

TABLE 204         REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION,  2018–2021 (KILOTON)  166

TABLE 205         REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION,  2022–2029 (KILOTON)  166

12          COMPETITIVE LANDSCAPE       167

12.1       INTRODUCTIONS          167

12.2       STRATEGIES ADOPTED BY KEY PLAYERS           167

12.2.1    OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS              167

12.3       REVENUE ANALYSIS      168

FIGURE 37         REVENUE ANALYSIS OF TOP 5 COMPANIES (2019–2023) 168

12.4       MARKET SHARE ANALYSIS         169

12.4.1    MARKET SHARE OF KEY PLAYERS          169

FIGURE 38         PROCESS OIL MARKET SHARE ANALYSIS            169

TABLE 206         DEGREE OF COMPETITION: PROCESS OIL MARKET       169

12.4.1.1 Shell (UK)           170

12.4.1.2 Exxon Mobil Corporation (US)        170

12.4.1.3 TotalEnergies (France)     170

12.4.1.4 Idemitsu Kosan Co., Ltd. (Japan)    170

12.4.1.5 Petroliam Nasional Berhad (PETRONAS) (Malaysia) 171

12.4.2    RANKING OF KEY MARKET PLAYERS, 2023          171

FIGURE 39         RANKING OF TOP FIVE PLAYERS IN PROCESS OIL MARKET, 2023      171

12.5       BRAND/PRODUCT COMPARISON          172

FIGURE 40         BRAND/PRODUCT COMPARISON          172

12.5.1    PROCESS OIL BY SHELL 173

12.5.2    PROCESS OIL BY EXXON MOBIL CORPORATION             173

12.5.3    PROCESS OIL BY TOTALENERGIES        173

12.5.4    PROCESS OIL BY IDEMITSU KOSAN CO., LTD.   173

12.5.5    PROCESS OIL BY PETROLIAM NASIONAL BERHAD (PETRONAS) 173

12.6       COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023   173

12.6.1    STARS  173

12.6.2    EMERGING LEADERS    173

12.6.3    PERVASIVE PLAYERS     174

12.6.4    PARTICIPANTS 174

FIGURE 41         PROCESS OIL MARKET COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023  174

12.6.5    COMPANY FOOTPRINT 175

FIGURE 42         COMPANY FOOTPRINT (10 COMPANIES)           175

TABLE 207         COMPANY REGION FOOTPRINT (10 COMPANIES)          175

TABLE 208         BY TYPE (10 COMPANIES)          176

TABLE 209         BY APPLICATION (10 COMPANIES)        177

TABLE 210         BY FUNCTION (10 COMPANIES)             177

12.7       STARTUP/SME EVALUATION MATRIX, 2023       178

12.7.1    PROGRESSIVE COMPANIES       178

12.7.2    RESPONSIVE COMPANIES          178

12.7.3    DYNAMIC COMPANIES 178

12.7.4    STARTING BLOCKS       178

FIGURE 43         GLOBAL PROCESS OIL MARKET START-UP/SME EVALUATION MATRIX, 2023    179

TABLE 211         PROCESS OIL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES   180

12.8       COMPANY VALUATION AND FINANCIAL METRICS        180

12.8.1    COMPANY VALUATION 180

12.8.2    FINANCIAL METRICS    181

FIGURE 44         EV/EBITDA       181

FIGURE 45         YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS            181

12.9       COMPETITIVE SCENARIO AND TRENDS             182

12.9.1    PRODUCT LAUNCHES  182

TABLE 212         PROCESS OIL MARKET: PRODUCT LAUNCHES, FEBRUARY 2018–MAY 2024 182

12.9.2    DEALS  182

TABLE 213         PROCESS OIL MARKET: DEALS, FEBRUARY 2018–MAY 2024              182

12.9.3    EXPANSIONS    183

TABLE 214         PROCESS OIL MARKET: EXPANSIONS, FEBRUARY 2018–MAY 2024      183

13          COMPANY PROFILES    184

(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*

13.1       MAJOR PLAYERS            184

13.1.1    SHELL  184

TABLE 215         SHELL: COMPANY OVERVIEW   184

FIGURE 46         SHELL: COMPANY SNAPSHOT  185

TABLE 216         SHELL: PRODUCTS/SOLUTIONS/SERVICES OFFERED    185

13.1.2    EXXON MOBIL CORPORATION 187

TABLE 217         EXXON MOBIL CORPORATION: COMPANY OVERVIEW  187

FIGURE 47         EXXON MOBIL CORPORATION: COMPANY SNAPSHOT 188

TABLE 218         EXXON MOBIL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   188

13.1.3    TOTALENERGIES           190

TABLE 219         TOTALENERGIES: COMPANY OVERVIEW           190

FIGURE 48         TOTALENERGIES: COMPANY SNAPSHOT           191

TABLE 220         TOTALENERGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED          191

TABLE 221         TOTALENERGIES: PRODUCT LAUNCHES, JANUARY 2028–MAY 2024      193

13.1.4    IDEMITSU KOSAN CO., LTD.      194

TABLE 222         IDEMITSU KOSAN CO., LTD.: COMPANY OVERVIEW      194

FIGURE 49         IDEMITSU KOSAN CO., LTD.: COMPANY SNAPSHOT      195

TABLE 223         IDEMITSU KOSAN CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   195

13.1.5    PETROLIAM NASIONAL BERHAD (PETRONAS)  198

TABLE 224         PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY OVERVIEW        198

FIGURE 50         PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY SNAPSHOT        199

TABLE 225         PETROLIAM NASIONAL BERHAD (PETRONAS): PRODUCTS/SOLUTIONS/ SERVICES OFFERED  199

13.1.6    CHEVRON USA INC.       201

TABLE 226         CHEVRON USA INC.: COMPANY OVERVIEW       201

FIGURE 51         CHEVRON USA INC.: COMPANY SNAPSHOT       201

TABLE 227         CHEVRON USA INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED          202

13.1.7    INDIAN OIL CORPORATION LIMITED   203

TABLE 228         INDIAN OIL CORPORATION LIMITED: COMPANY OVERVIEW              203

FIGURE 52         INDIAN OIL CORPORATION LIMITED: COMPANY SNAPSHOT              204

TABLE 229         INDIAN OIL CORPORATION LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   204

13.1.8    GANDHAR OIL REFINERY (INDIA) LIMITED       205

TABLE 230         GANDHAR OIL REFINERY (INDIA) LIMITED: COMPANY OVERVIEW        205

FIGURE 53         GANDHAR OIL REFINERY (INDIA) LIMITED: COMPANY SNAPSHOT        205

TABLE 231         GANDHAR OIL REFINERY (INDIA) LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   206

TABLE 232         GANDHAR OIL REFINERY (INDIA) LIMITED: DEALS, JANUARY 2028–MAY 2024 206

13.1.9    HF SINCLAIR CORPORATION    207

TABLE 233         HF SINCLAIR CORPORATION: COMPANY OVERVIEW     207

FIGURE 54         HF SINCLAIR CORPORATION: COMPANY SNAPSHOT    207

TABLE 234         HF SINCLAIR CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   208

13.1.10  BEHRAN OIL CO.            209

TABLE 235         BEHRAN OIL CO.: COMPANY OVERVIEW            209

TABLE 236         BEHRAN OIL CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED          209

13.1.11  ORGKHIM BIOCHEMICAL HOLDING     210

TABLE 237         ORGKHIM BIOCHEMICAL HOLDING: COMPANY OVERVIEW              210

TABLE 238         ORGKHIM BIOCHEMICAL HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED   210

TABLE 239         ORGKHIM BIOCHEMICAL HOLDING: EXPANSIONS, JANUARY 2028–MAY 2024 211

13.1.12  REPSOL             212

TABLE 240         REPSOL: COMPANY OVERVIEW 212

FIGURE 55         REPSOL: COMPANY SNAPSHOT 213

TABLE 241         REPSOL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 213

TABLE 242         REPSOL: DEALS, JANUARY 2028–MAY 2024          214

13.1.13  HINDUSTAN PETROLEUM CORPORATION LIMITED      215

TABLE 243         HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY OVERVIEW  215

FIGURE 56         HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY SNAPSHOT  216

TABLE 244         HINDUSTAN PETROLEUM CORPORATION LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   216

13.1.14  ORLEN UNIPETROL      218

TABLE 245         ORLEN UNIPETROL: COMPANY OVERVIEW       218

FIGURE 57         ORLEN UNIPETROL: COMPANY SNAPSHOT       219

TABLE 246         ORLEN UNIPETROL: PRODUCTS/SOLUTIONS/SERVICES OFFERED          219

13.1.15  PANAMA PETROCHEM LTD.     220

TABLE 247         PANAMA PETROCHEM LTD.: COMPANY OVERVIEW      220

FIGURE 58         PANAMA PETROCHEM LTD.: COMPANY SNAPSHOT      221

TABLE 248         PANAMA PETROCHEM LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   221

13.1.16  NYNAS AB          223

TABLE 249         NYNAS AB: COMPANY OVERVIEW          223

FIGURE 59         NYNAS AB: COMPANY SNAPSHOT          224

TABLE 250         NYNAS AB: PRODUCTS/SOLUTIONS/SERVICES OFFERED              224

TABLE 251         NYNAS AB: PRODUCT LAUNCHES, JANUARY 2028–MAY 2024              226

13.1.17  H&R GROUP      227

TABLE 252         H&R GROUP: COMPANY OVERVIEW      227

FIGURE 60         H&R GROUP: COMPANY SNAPSHOT      228

TABLE 253         H&R GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED              228

13.1.18  CPC CORPORATION      230

TABLE 254         CPC CORPORATION: COMPANY OVERVIEW      230

TABLE 255         CPC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED          230

13.1.19  IRANOL COMPANY        231

TABLE 256         IRANOL COMPANY: COMPANY OVERVIEW        231

TABLE 257         IRANOL COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED          231

13.1.20  ERGON, INC.     232

TABLE 258         ERGON, INC.: COMPANY OVERVIEW     232

TABLE 259         ERGON, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED              232

13.2       OTHER PLAYERS           233

13.2.1    APAR INDUSTRIES LIMITED      233

TABLE 260         APAR INDUSTRIES LIMITED: COMPANY OVERVIEW       233

13.2.2    CROSS OIL         234

TABLE 261         CROSS OIL: COMPANY OVERVIEW         234

TABLE 262         CROSS OIL: DEALS        234

13.2.3    EASTERN PETROLEUM PVT. LTD.          235

TABLE 263         EASTERN PETROLEUM PVT. LTD.: COMPANY OVERVIEW              235

13.2.4    GP PETROLEUMS          236

TABLE 264         GP PETROLEUMS: COMPANY OVERVIEW           236

13.2.5    LODHA PETRO 237

TABLE 265         LODHA PETRO: COMPANY OVERVIEW 237

13.2.6    PETRO GULF FZE           237

TABLE 266         PETRO GULF FZE: COMPANY OVERVIEW           237

13.2.7    STERLITE LUBRICANTS 238

TABLE 267         STERLITE LUBRICANTS: COMPANY OVERVIEW 238

13.2.8    TAURUS PETROLEUMS PRIVATE LIMITED         238

TABLE 268         TAURUS PETROLEUMS PRIVATE LIMITED: COMPANY OVERVIEW        238

13.2.9    VINTROL LUBES PRIVATE LIMITED       239

TABLE 269         VINTROL LUBES PRIVATE LIMITED: COMPANY OVERVIEW              239

13.2.10  WITMANS INDUSTRIES PVT. LTD.          239

TABLE 270         WITMANS INDUSTRIES PVT. LTD.: COMPANY OVERVIEW              239

*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

14          ADJACENT AND RELATED MARKETS     240

14.1       INTRODUCTION            240

14.2       LIMITATIONS   240

14.3       INTERCONNECTED MARKETS  240

14.4       BASE OIL MARKET         240

14.4.1    MARKET DEFINITION   240

14.4.2    MARKET OVERVIEW     240

14.4.3    BASE OIL MARKET, BY GROUP  241

TABLE 271         BASE OIL MARKET, BY GROUP, 2016–2019 (USD MILLION)              241

TABLE 272         BASE OIL MARKET, BY GROUP, 2020–2025 (USD MILLION)              242

TABLE 273         BASE OIL MARKET, BY GROUP, 2016–2019 (KILOTON)    242

TABLE 274         BASE OIL MARKET, BY GROUP, 2020–2025 (KILOTON)    242

14.4.3.1 GROUP I             243

14.4.3.2 GROUP II           243

14.4.3.3 GROUP III          243

14.4.3.4 GROUP IV          244

14.4.3.5 GROUP V           244

15          APPENDIX         245

15.1       DISCUSSION GUIDE      245

15.2       KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL             248

15.3       CUSTOMIZATION OPTIONS      250

15.4       RELATED REPORTS       250

15.5       AUTHOR DETAILS         251