In an extensive analysis of the global process oil market, Persistence Market Research forecasts the global process oil market to reach a market valuation of US$ 5,697.4 Mn by the end of 2025, up from an estimated US$ 4,148.9 Mn in 2017, registering a CAGR of 4.1% over the forecast period. Persistence Market Research presents the historical and current market forecast of the global process oil market in a new report titled “Process Oil Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025).” The report also throws light on the factors likely to impact the market over the course of the forecast period.
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Global Process Oil Market: Dynamics
The global process oil market is expected to witness incremental $ opportunity of US$ 1,548.4 Mn between 2017 and 2025 and will be mainly driven by the increasing automotive sector that eventually demands rubber process oil for the manufacturing of rubber products such as tires and vehicle interiors. Process oil being the basic raw material used in the production of goods in the rubber processing industry, the demand in the global market is anticipated to witness significant growth during the next eight years. Process oil is also consumed in large quantities in the polymers and paints and coatings industries. These sectors will drive volume growth of the global process oil market in the foreseeable future. Some of the other factors likely to boost the growth of the process oil market are –
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Global Process Oil Market: Segmental Forecast
The global process oil market is segmented on the basis of Product Type (Aromatic, Paraffinic, Naphthenic) and Application (Rubber Processing, Adhesives & Sealants, Consumer Products, Paints & Coatings, Pharmaceuticals, Polymers, Others).
Global Process Oil Market: Regional Forecast
Persistence Market Research tracks the performance of the global process oil market across the five key geographies of North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. In terms of value share, the Asia Pacific regional market will dominate the global process oil market, estimated to hold about 43% market share by the end of 2025. The APAC process oil market is estimated to be valued at US$ 1,590.2 Mn in 2017 and this is expected to increase to US$ 2,450.7 Mn by the end of 2025. This is reflective of a CAGR of 4.6% in terms of value during the forecast period.
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