[155 Pages Report] The Process Oil Market is projected to reach USD 5.56 billion by 2022, at a CAGR of 3.8% between 2017 and 2022. Process oils increase the performance of the rubber and tire products. They provide high stability, with a relative inertness towards curing additives; better compatibility with rubber and rubber blend.
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Process oils are predominantly used in the tire & rubber industry. The emerging economies in the Asia-Pacific region are driving the demand for process oils in various applications. In the tire & rubber industry, process oils are used as carrier oils, plasticizers, dust control agents, and processing aids. The growing investments in the tire industry in China and India contribute to the increased demand for process oil in the region. The emerging economies including China, Indonesia, and India are the major markets for mining lubricants. The process oil market in Asia-Pacific is expected to grow at a high rate.
Key players in this market are Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), and Petronas Lubricants Belgium NV (Belgium), Nynas AB (Sweden), ORGKHIM Biochemical Holding (Russia), Repsol S.A. (Spain), Avista Oil AG (Germany) and Hindustan Petroleum Corporation Limited (India), among others. Government & research organizations, raw material suppliers & distributors, construction companies, and industry associations have been considered as the stakeholders in this study.
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