Global Process Oil Market Growth 2025-2031

The global Process Oil market size is predicted to grow from US$ 9164 million in 2025 to US$ 12030 million in 2031; it is expected to grow at a CAGR of 4.6% from 2025 to 2031.

Process Oils are oils derived from petroleum that can be used in various chemical and technical industries, as raw materials or to optimize tire manufacturing, technical rubbers and polymers. In addition, these oils can be used to make asphalt boards, inks, paints, cable products, and more. The Process Oil industry can be broken down into several segments, Naphthenic, Paraffinic, Aromatic.

The process oil market is relatively stable in terms of sales volume, especially due to its wide application in important industries such as tires, rubber, and metal processing. The demand for high-performance process oils in these fields continues to grow, driving the long-term demand of the market. With the increasing demand for refined and high-performance oils in various industries, the process oil market will continue to expand in the next few years. However, despite the stable sales volume, prices have shown great volatility. Therefore, although the sales volume of the process oil market has a stable basis, the volatility of prices remains an important factor that industry participants need to pay close attention to.

At the regional level, the Chinese market is an important engine for the growth of the global process oil market. In 2024, the Chinese market accounted for 28% of the global market. The rapid growth of the Chinese market is closely related to the strong demand in its manufacturing, automotive and tire manufacturing industries. As one of the global manufacturing centers, China's related industries have a growing demand for high-quality process oils, especially in the fields of tires and rubber, which will further promote the expansion of the domestic process oil market.

From the perspective of product type, process oil products can be divided into three types according to their basic chemical composition: aromatics, cycloalkanes and paraffins, among which aromatics are the most widely used type. In 2024, aromatic process oils accounted for about 43% of the global market share. Aromatic process oils are widely used in tire manufacturing, rubber processing, plastic production and other fields due to their excellent lubricity, chemical stability and high efficiency. Cycloalkane and paraffin process oils have a place in some special applications. Cycloalkane is widely used in metal processing and coatings industries due to its low volatility and chemical stability, while paraffin is often used in personal care and cosmetics due to its high purity and stability.

The tire and rubber industry is one of the largest application areas in the process oil market, accounting for more than 47% of the process oil market in 2024. With the continued growth of the global automotive industry, especially driven by electric vehicles (EV) and high-performance tires, the demand for high-quality process oils is also increasing. The main role of process oil in the rubber industry is to improve the physical properties of rubber, promote the vulcanization process and reduce the production cost of the final product. In addition, metal processing, plastic processing, personal care and textile industries are also important application areas for process oils. In particular, the demand for lubricity and cooling in the metal processing field has led to a steady growth in the demand for high-performance process oils in this field.

The competitive landscape of the global processed oil market is dominated by several large oil companies, including Shell, ExxonMobil, Eni, Moeve (formerly Cepsa), Chevron Corporation, Nynas AB, etc. These major manufacturers account for more than 65% of the market share worldwide. Most companies have multiple factories through global layout, and some factories are close to the raw material production areas, such as China, Qatar, the Middle East, India and Malaysia. These companies maintain their competitiveness through technological innovation, improved production efficiency and optimization of the global supply chain.

In future competition, in addition to product quality and price, the sustainable development strategy of enterprises will become a new focus of competition. Increasing technological innovation, improving production processes, and reducing energy consumption and carbon emissions will become the key for enterprises to stand out in the market. In addition, with the diversification of global consumer demand, especially in the fields of rubber, metal processing and personal care, processed oil products will gradually move towards segmented markets to meet the personalized needs of different customers.

LP Information, Inc. (LPI) ' newest research report, the “Process Oil Industry Forecast” looks at past sales and reviews total world Process Oil sales in 2024, providing a comprehensive analysis by region and market sector of projected Process Oil sales for 2025 through 2031. With Process Oil sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Process Oil industry.

This Insight Report provides a comprehensive analysis of the global Process Oil landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Process Oil portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Process Oil market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Process Oil and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Process Oil.

This report presents a comprehensive overview, market shares, and growth opportunities of Process Oil market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Aromatic
Naphthenic
Paraffinic

Segmentation by Application:
Tire & Rubber
Polymer
Personal Care
Textile
Metalworking
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Shell
ExxonMobil
Eni Oil Products
Moeve (formerly Cepsa)
Chevron
Nynas AB
H&R KGaA
ORGKHIM
APAR Industries
Behran Oil

Key Questions Addressed in this Report

What is the 10-year outlook for the global Process Oil market?

What factors are driving Process Oil market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Process Oil market opportunities vary by end market size?

How does Process Oil break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.