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Increasing demand for next generation formulation of process oil coupled with high investment in R&D of process oil is fueling the market growth.
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Process Oil Market To Reach USD 6.25 Billion By 2026
Market Summary Market Size – USD 4.86 Billion in 2018, Market Growth - CAGR of 3.1%, Market Trends – Increase in demand for process oils in the rubbers & polymers applications. The global process oil market is forecast to reach USD 6.25 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly due to demand for the rubbers & polymers applications with drastic incremental rise in the use of tires globally. Evolution of the manufacturing industries in the Asian developing regions have helped driving the process oil market broadly. Further key findings from the report suggest • Metalworking industries had a market revenue of USD 0.78 in the 2018 and is expected to grow at a CAGR of 4.2% during the forecast period. Metalworking industries include metal removal, metal surface treatments, metal cutting, and metal shaping, sustaining the rust prevention for their metals. These sort of applications include require huge amount of pure and high performance based process oils. These oils are very low fogging and less volatile. Defoaming additives are used to minimize the foam formation and potential emission of volatile organic compounds. The formulations function as a carrier fluid and spreads over the surfaces of the system to neutralize the surfactants. The defoaming additives is forecasted to have a market share of 8.1% by 2026. • www.reportsanddata.com
Market Summary Key Players: Indian Oil Corporation Limited, ExxonMobil, Hindustan Petroleum Corporation Limited, Royal Dutch Shell PLC, Nynas AB, Behran Oil Company, HollyFrontier Refining & Marketing LLC, Gulf Petroleum Limited, Panama Petrochem Ltd., and Idemitsu Kosan Co., Ltd. Segmentation: Type Outlook (Revenue, USD Billion; 2016-2026) •Naphthenic •Paraffinic •Aromatic •Bio-Based Formulation Outlook (Revenue, USD Billion; 2016-2026) •Conventional •Next Generation To get a sample pdf with the skeleton of the Global Process Oil Market Report, click here: https://www.reportsanddata.com/sample-enquiry-form/1909 www.reportsanddata.com
Market Summary Applications Outlook (Revenue, USD Billion; 2016-2026) • Metalworking Industries • Personal Care Products • Defoaming Additives • Textile & Fabrics • Cables Covering & Adhesives • Rubbers & Polymers • Printing Inks Regional Outlook for Process Oil Market analyses the following geographies: North America (United States, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) Avail this report at Attractive Discount rates! Click here to know more @ https://www.reportsanddata.com/discount-enquiry-form/1909 www.reportsanddata.com
The report emphasizes the following key questions: Q.1.What are the most lucrative and promising growth prospects for the market? Q.2.Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? Q.3.Which geographies are estimated to exhibit the highest growth and the underlying causes? Q.4.Which factors are impacting the future of the market and what are the driving factors? Q.5.What are the hurdles and challenges curtailing the industry’s growth in the forecast period? www.reportsanddata.com
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