Exploring the Growth and Dynamics of the Process Oil Market
Process Oil Market The process oil market is witnessing significant growth globally, driven by its extensive applications in various industries, including rubber, personal care, polymer manufacturing, and textiles. These oils play a crucial role in improving the processing, performance, and durability of end products. With increasing industrialization and the rising demand for high-performance materials, the market is poised for sustained expansion in the coming years. The Europe Process Oil Market was valued at USD 1.01 Billion in 2023 and is projected to reach USD 1.08 Billion by 2030, with a compound annual growth rate (CAGR) of 1.1% from 2024 to 2030. Market Overview Process oils are derived from petroleum-based sources and are categorized into different types based on their composition and refining methods. The major types include: Paraffinic Process Oil – Used in rubber and tire manufacturing due to its excellent oxidation s...