North America Process Oil Market Forecast 2017-2025
KEY FINDINGS The North America Process Oil market is anticipated to grow from $ 1472 million and 1341 kilo tons in 2016 to $1933 million and 1742 kilo tons by 2025, at a CAGR of 3.19% and 3.06% respectively between 2017 and 2025.
MARKET INSIGHTS The North American market is expected to be a world leader in terms of process oil market. It is predicted that by 2025, the total volume of biofuel and liquid hydrocarbon production in North American countries like Canada and the U.S. is anticipated to reach around19 MB/d. This is likely to reduce the region’s dependency on imported oil. The U.S market generated the highest revenue for process oil market in 2016. The growth in the automotive industry in the U.S is chiefly driving the nation’s growth.
COMPETITIVE INSIGHTS Some of the leading process oil manufacturers in the North American market are Exxon Mobil Chemical Company, Chevron Corporation, Panama Petrochem Ltd, Petrobras, Ergon North & South America, Sepahan Oil Company, Repsol Sa, Lanxess Process Oil, and Sunoco LP.