Summary

The global process oil market is projected to grow from USD 5.2 billion in 2024 to USD 5.6 billion by 2029, at a CAGR of 1.6% during the forecast period. The process oil market is poised for significant expansion, driven by its diverse applications across various industries. Key sectors fueling this growth include tire and rubber manufacturing, polymers, personal care products, and textiles, among others. The versatility of process oils in enhancing the performance and quality of these products is a major factor contributing to the increasing demand.
“Polymer segment, by application, is estimated to account for the second largest segment during the forecast period.”
Polymer applications is accounted for the second largest during the forecast period, in terms of value. Process oils are used in the polymer sector as plasticizers, catalyst carriers, extender oils, mould release agents, and pigment dispersion agents. These oils increase the wetting qualities of plastics, allowing them to be utilised on a wider range of substrates and producing a more flexible plastic.

“Non-carcinogenic segment, by type, is estimated to account for the second largest segment during the forecast period.”
The non-carcinogenic sector ranked as the second largest segment in terms of value during the forecast period. Non-carcinogenic process oils are essential in enhancing the performance characteristics of tires, specifically by improving abrasion resistance and reducing rolling resistance. These process oils are crucial for tire manufacturers, who utilize them to produce Styrene-Butadiene Rubber (SBR), a key material in the tire industry. By using non-carcinogenic process oils, manufacturers can meet safety and environmental standards while delivering high-quality, durable tires.

“Based on function, plasticizer segment is the second largest market segment during the forecast period“
plasticizers emerged as the second largest segment in the market in terms of value. These low-molecular-weight compounds are integral to enhancing the flexibility and plasticity of polymer solutions. By incorporating plasticizers, the efficiency and effectiveness of polymer solutions used for film coating are significantly improved, leading to superior end-product quality. Additionally, plasticizers play a crucial role in the rubber manufacturing process, contributing to the production of more durable and flexible rubber products. Their widespread application across various industries underscores their importance in modern manufacturing and material science.

“North America region is estimated to account for the second largest region during the forecast period.”
In terms of value and volume, North America is the second largest process oil market during the forecast period. The North American process oil market is predicted to develop slowly, since end-use sectors such as rubber and polymer have matured in the area. However, naphthenic and paraffinic process oils are commonly utilised by tyre OEMs in the United States, where big refineries generating naphthenic products are located.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
• By Region: North America – 30%, Europe – 20%, Asia Pacific – 40%, Middle East & Africa– 7% , South America – 3%,
Major companies in the process oil market include Shell (UK), ExxonMobil (US), Indian Oil Corporation Limited (India), TotalEnergies (France), PETRONAS Group (Malaysia), Hindustan Petroleum Corporation Limited (India), Repsol (Spain), Idemitsu Kosan Co., Ltd (Japan), Nynas AB (Sweden), Panama Petrochem Ltd (India), Apar Industries (India), Hollyfrontier Refining & Marketing LLC (US), and Gandhar Oil Refinery Limited (India).
Research Coverage:
The report defines, projects, and segments the process oil market based on process oil by type, function, application, production technology, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, process oil manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as joint ventures, expansions, acquisitions, and agreements, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the process oil market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (increasing demand and consumption of process oil with rapid industrialization and urbanization in emerging economies, and Growing tire manufacturing industry across the globe), restraints (implementation of the European Union directive 2005/69/EC banning use of polycyclic aromatic hydrocarbons in tire manufacturing, Increased use of soybean oil as alternative for process oils in tire manufacturing), opportunities (increasing demand for green process oils across the globe), and challenges (fluctuating price of crude oil) influencing the growth of the process oil market.

• Product Development/Innovation: Detailed insights on research & development activities, and upcoming technologies in the process oil market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the process oil market across various regions.

• Market Diversification: Exhaustive information about new products, various types, recent developments, untapped geographies, and investments in the process oil market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as ExxonMobil (US), Shell (UK), TotalEnergies (France), Idemitsu Kosan Co., Ltd. (Japan), and Petroliam Nasional Berhad (PETRONAS) (Malaysia), and in the process oil market.

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Table of Contents

1 INTRODUCTION 33
1.1 STUDY OBJECTIVES 33
1.2 COMPETITIVE INTELLIGENCE 33
1.3 MARKET DEFINITION 34
1.3.1 INCLUSIONS & EXCLUSIONS 34
TABLE 1 PROCESS OIL MARKET, BY REGION: INCLUSIONS & EXCLUSIONS 34
1.4 MARKET SCOPE 35
FIGURE 1 PROCESS OIL MARKET: MARKET SEGMENTATION 35
1.4.1 YEARS CONSIDERED 36
1.4.2 CURRENCY CONSIDERED 36
1.4.3 UNITS CONSIDERED 36
1.5 RESEARCH LIMITATIONS 36
1.6 STAKEHOLDERS 37
1.7 SUMMARY OF CHANGES 37
2 RESEARCH METHODOLOGY 38
2.1 RESEARCH DATA 38
FIGURE 2 PROCESS OIL MARKET: RESEARCH DESIGN 38
2.1.1 SECONDARY DATA 39
2.1.1.1 Key data from secondary sources 39
2.1.2 PRIMARY DATA 39
2.1.2.1 Key data from primary sources 40
2.1.2.2 Breakdown of interviews with experts 40
2.2 MATRIX CONSIDERED FOR DEMAND SIDE 41
FIGURE 3 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR PROCESS OIL MARKET 41
2.3 MARKET SIZE ESTIMATION 41
2.3.1 BOTTOM-UP APPROACH 42
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 42
2.3.2 TOP-DOWN APPROACH 42
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 42
FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (1/2) 43
FIGURE 7 METHODOLOGY FOR SUPPLY-SIDE SIZING OF PROCESS OIL MARKET (2/2) 43
2.3.2.1 Calculations for supply-side analysis 44
2.4 GROWTH FORECAST 44
2.5 DATA TRIANGULATION 45
FIGURE 8 PROCESS OIL MARKET: DATA TRIANGULATION 45

2.6 IMPACT OF RECESSION 46
2.6.1 KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE MARKET SIZE 46
2.6.2 RESEARCH LIMITATIONS 46
2.6.3 RISK ANALYSIS 47
3 EXECUTIVE SUMMARY 48
TABLE 2 PROCESS OIL MARKET SNAPSHOT: 2024 VS. 2029 48
FIGURE 9 TIRE & RUBBER TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 49
FIGURE 10 NAPHTHENIC TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD 50
FIGURE 11 EXTENDER OIL TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD 50
FIGURE 12 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD 51
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PROCESS OIL MARKET 52
FIGURE 13 PROCESS OIL MARKET TO WITNESS SIGNIFICANT GROWTH BETWEEN 2024 AND 2029 52
4.2 PROCESS OIL MARKET, BY APPLICATION 52
FIGURE 14 TIRE & RUBBER TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 52
FIGURE 15 NON-CARCINOGENIC TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD 53
FIGURE 16 EXTENDER OIL TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD 53
4.3 PROCESS OIL MARKET, BY MAJOR COUNTRIES 54
FIGURE 17 CHINA TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 55
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN PROCESS OIL MARKET 55
5.2.1 DRIVERS 56
5.2.1.1 Growing tire manufacturing industry 56
FIGURE 19 MOTOR VEHICLE PRODUCTION DATA FOR 2021–2022 56
TABLE 3 MOTOR CARS AND COMMERCIAL VEHICLES PRODUCTION, BY COUNTRY, 2023 57
5.2.1.2 Rapid industrialization and urbanization in emerging economies 57
FIGURE 20 URBAN POPULATION OF ECONOMIES 58
5.2.2 RESTRAINTS 58
5.2.2.1 European Union directive 2005/69/EC banning use of polycyclic aromatic hydrocarbons in tire manufacturing 58
5.2.2.2 Increased use of soybean oil as alternative for process oils in tire manufacturing 59
5.2.3 OPPORTUNITIES 59
5.2.3.1 Increasing demand for green process oils 59
5.2.4 CHALLENGES 59
5.2.4.1 Fluctuating prices of crude oil 59
FIGURE 21 US CRUDE OIL FIRST PURCHASE PRICE, 2019–2022 60
6 INDUSTRY TRENDS 61
6.1 VALUE CHAIN 61
FIGURE 22 SUPPLY CHAIN ANALYSIS FOR PROCESS OIL MARKET 61
6.2 MARKET MAP 62
FIGURE 23 MARKET MAP OF PROCESS OIL MARKET 62
TABLE 4 PROCESS OIL MARKET: ROLE IN ECOSYSTEM 62
6.3 PORTER’S FIVE FORCES ANALYSIS 63
FIGURE 24 PORTER’S FIVE FORCES ANALYSIS FOR PROCESS OIL MARKET 63
TABLE 5 PROCESS OIL MARKET: PORTER’S FIVE FORCES ANALYSIS 63
6.3.1 BARGAINING POWER OF SUPPLIERS 64
6.3.2 BARGAINING POWER OF BUYERS 64
6.3.3 THREAT OF NEW ENTRANTS 64
6.3.4 THREAT OF SUBSTITUTES 65
6.3.5 INTENSITY OF COMPETITIVE RIVALRY 65
6.4 PRICING ANALYSIS 66
6.4.1 AVERAGE PRICE OF PROCESS OIL, BY REGION 66
FIGURE 25 PROCESS OIL MARKET: AVERAGE PRICE OF PROCESS OIL, BY REGION 66
6.4.2 AVERAGE PRICE OF PROCESS OIL, BY TYPE 66
FIGURE 26 PROCESS OIL MARKET: AVERAGE PRICE OF PROCESS OIL, BY TYPE 66
6.5 TARIFF AND REGULATORY LANDSCAPE 67
6.5.1 TARIFF 67
6.5.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 67
6.5.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 68
TABLE 6 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 68
TABLE 7 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 68
TABLE 8 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 68
6.6 KEY CONFERENCES AND EVENTS, 2024–2025 69
TABLE 9 PROCESS OILS MARKET: KEY CONFERENCES AND EVENTS, 2024–2025 69
6.7 KEY STAKEHOLDERS AND BUYING CRITERIA 70
6.7.1 KEY STAKEHOLDERS IN BUYING PROCESS 70
FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR PRODUCT TYPES 70
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR PRODUCT TYPES (%) 70
6.7.2 BUYING CRITERIA 70
FIGURE 28 KEY BUYING CRITERIA FOR TOP THREE END USES 70
TABLE 11 KEY BUYING CRITERIA FOR TOP THREE SOURCES 71
6.8 PATENT ANALYSIS 71
6.8.1 METHODOLOGY 71
FIGURE 29 LIST OF MAJOR PATENTS FOR PROCESS OIL 72
6.8.2 MAJOR PATENTS 72
6.9 TECHNOLOGY ANALYSIS 73
6.9.1 KEY TECHNOLOGIES 73
6.9.1.1 Green rubber process oil 73
6.9.2 ADJACENT TECHNOLOGIES 75
6.9.2.1 Bio-Based Base Oil 75
6.10 TRADE DATA 76
6.10.1 IMPORT DATA 76
TABLE 12 IMPORT DATA ON CRUDE OIL 76
6.10.2 EXPORT DATA 76
TABLE 13 EXPORT DATA ON CRUDE OIL 76
6.11 TREND/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 77
7 PROCESS OIL MARKET, BY FUNCTION 78
7.1 INTRODUCTION 79
FIGURE 30 EXTENDER OIL TO BE LARGEST SEGMENT DURING FORECAST PERIOD 79
TABLE 14 PROCESS OIL MARKET, BY FUNCTION, 2018–2021 (KILOTON) 79
TABLE 15 PROCESS OIL MARKET, BY FUNCTION, 2022–2029 (KILOTON) 80
TABLE 16 PROCESS OIL MARKET, BY FUNCTION, 2018–2021 (USD MILLION) 80
TABLE 17 PROCESS OIL MARKET, BY FUNCTION, 2022–2029 (USD MILLION) 80
7.2 EXTENDER OIL 81
7.2.1 USE OF EXTENDER OIL IN TIRE & RUBBER GOODS TO FUEL DEMAND 81
7.3 PLASTICIZER 81
7.3.1 ENHANCED FLEXIBILITY AND PLASTICITY OF POLYMER SOLUTIONS TO PROPEL DEMAND 81
7.4 SOLVENT 81
7.4.1 DEMAND FOR SOLVENTS IN PETROLEUM SECTOR TO DRIVE GROWTH 81
7.5 DEFOAMER 82
7.5.1 REDUCTION OF FOAM FORMATION IN INDUSTRIAL PROCESS WITH DEFOAMERS TO INCREASE DEMAND 82
7.6 OTHER FUNCTIONS 82

8 PROCESS OIL MARKET, BY PRODUCTION TECHNOLOGY 83
8.1 INTRODUCTION 83
8.2 CONVENTION ROUTE 83
8.2.1 INCREASED WELL PRODUCTIVITY THROUGH CONVENTION ROUTE TO FUEL DEMAND 83
8.3 GAS TO LIQUID (GTL) 83
8.3.1 BENEFITS OF GTL TECHNOLOGY IN ENERGY PRODUCTION TO PROPEL DEMAND 83
8.4 BIO-BASED 84
8.4.1 ADVANCEMENT IN PETROLEUM SECTOR TO ENHANCE GROWTH 84
9 PROCESS OIL MARKET, BY TYPE 85
9.1 INTRODUCTION 86
FIGURE 31 NAPHTHENIC TO ACCOUNT FOR LARGEST SEGMENT IN PROCESS OIL MARKET DURING FORECAST PERIOD 86
TABLE 18 PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 86
TABLE 19 PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 86
TABLE 20 PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 87
TABLE 21 PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 87
9.2 NAPHTHENIC 87
9.2.1 THERMAL STABILITY AND EXCELLENT SOLVENCY PROPERTIES TO INCREASE DEMAND 87
TABLE 22 NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 88
TABLE 23 NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 88
TABLE 24 NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON) 88
TABLE 25 NAPHTHENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON) 89
9.3 PARAFFINIC 89
9.3.1 GROWING DEMAND FROM PRINTING INK INDUSTRY TO FUEL GROWTH 89
TABLE 26 PARAFFINIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 89
TABLE 27 PARAFFINIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 90
TABLE 28 PARAFFINIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON) 90
TABLE 29 PARAFFINIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON) 90
9.4 NON-CARCINOGENIC 91
9.4.1 STRINGENT REGULATIONS TO DRIVE MARKET 91
TABLE 30 NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 91
TABLE 31 NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 91
TABLE 32 NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON) 92
TABLE 33 NON-CARCINOGENIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON) 92

9.5 AROMATIC 92
9.5.1 USE OF AROMATIC PROCESS OILS IN AUTOMOTIVE SECTOR TO FUEL GROWTH 92
TABLE 34 AROMATIC PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 35 AROMATIC PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 93
TABLE 36 AROMATIC PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON) 93
TABLE 37 AROMATIC PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON) 94
10 PROCESS OIL MARKET, BY APPLICATION 95
10.1 INTRODUCTION 96
FIGURE 32 TIRE & RUBBER APPLICATION TO LEAD PROCESS OIL MARKET DURING FORECAST PERIOD 96
TABLE 38 PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 96
TABLE 39 PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 97
TABLE 40 PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 97
TABLE 41 PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 97
10.2 TIRE & RUBBER 98
10.2.1 INCREASE IN AUTOMOBILE DEMAND TO DRIVE SEGMENT 98
10.3 POLYMER 98
10.3.1 GROWTH OF POLYMER INDUSTRY IN ASIA PACIFIC TO DRIVE MARKET 98
10.4 PERSONAL CARE 98
10.4.1 INCREASING DEMAND FOR NATURAL SKINCARE PRODUCTS TO DRIVE GROWTH 98
10.5 TEXTILE 99
10.5.1 HIGH DEMAND IN TEXTILE DUE TO ANTI-RUPTURE AND ANTI-DUST FORMATION PROPERTIES 99
10.6 OTHERS 99
11 PROCESS OIL MARKET, BY REGION 100
11.1 INTRODUCTION 101
FIGURE 33 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 101
TABLE 42 PROCESS OIL MARKET, BY REGION, 2018–2021 (USD MILLION) 101
TABLE 43 PROCESS OIL MARKET, BY REGION, 2022–2029 (USD MILLION) 102
TABLE 44 PROCESS OIL MARKET, BY REGION, 2018–2021 (KILOTON) 102
TABLE 45 PROCESS OIL MARKET, BY REGION, 2022–2029 (KILOTON) 102
11.2 ASIA PACIFIC 103
11.2.1 RECESSION IMPACT 103
FIGURE 34 ASIA PACIFIC: PROCESS OIL MARKET SNAPSHOT 103
TABLE 46 ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 104
TABLE 47 ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 104
TABLE 48 ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON) 104
TABLE 49 ASIA PACIFIC: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON) 105
TABLE 50 ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 105
TABLE 51 ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 105
TABLE 52 ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 106
TABLE 53 ASIA PACIFIC: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 106
TABLE 54 ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 106
TABLE 55 ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 107
TABLE 56 ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 107
TABLE 57 ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 107
11.2.2 CHINA 108
11.2.2.1 Increased demand for tires to drive consumption of process oil 108
TABLE 58 CHINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 108
TABLE 59 CHINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 108
TABLE 60 CHINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 109
TABLE 61 CHINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 109
11.2.3 INDIA 109
11.2.3.1 Growth in tire industry to increase demand 109
TABLE 62 INDIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 109
TABLE 63 INDIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 110
TABLE 64 INDIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 110
TABLE 65 INDIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 110
11.2.4 JAPAN 111
11.2.4.1 Growing plastic industry to enhance market 111
TABLE 66 JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 111
TABLE 67 JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 111
TABLE 68 JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 112
TABLE 69 JAPAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 112
11.2.5 SOUTH KOREA 112
11.2.5.1 Growth in personal care & beauty market to propel demand 112
TABLE 70 SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 113
TABLE 71 SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 113
TABLE 72 SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 113
TABLE 73 SOUTH KOREA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 114
11.2.6 INDONESIA 114
11.2.6.1 Significant increase in production of cars and commercial vehicles to drive market 114
TABLE 74 INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 114
TABLE 75 INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 115
TABLE 76 INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 115
TABLE 77 INDONESIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 115
11.2.7 THAILAND 116
11.2.7.1 Growth in plastic industry to create high demand 116
TABLE 78 THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 116
TABLE 79 THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 116
TABLE 80 THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 117
TABLE 81 THAILAND: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 117
11.2.8 REST OF ASIA PACIFIC 117
TABLE 82 REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 117
TABLE 83 REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 118
TABLE 84 REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 118
TABLE 85 REST OF ASIA PACIFIC: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 118
11.3 NORTH AMERICA 119
11.3.1 RECESSION IMPACT 119
FIGURE 35 NORTH AMERICA: PROCESS OIL MARKET SNAPSHOT 119
TABLE 86 NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 120
TABLE 87 NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 120
TABLE 88 NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON) 120
TABLE 89 NORTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON) 120
TABLE 90 NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 121
TABLE 91 NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 121
TABLE 92 NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 121
TABLE 93 NORTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 122
TABLE 94 NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 122
TABLE 95 NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 122
TABLE 96 NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 123
TABLE 97 NORTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 123
11.3.2 US 123
11.3.2.1 Increasing sales of passenger vehicles to drive market 123
TABLE 98 US: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 124
TABLE 99 US: PROCESS OIL MARKET SIZE, BY APPLICATION, 2022–2029 (USD MILLION) 124
TABLE 100 US: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 124
TABLE 101 US: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 125
11.3.3 CANADA 125
11.3.3.1 Growth in automotive sector to drive market 125
TABLE 102 CANADA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 125
TABLE 103 CANADA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 126
TABLE 104 CANADA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 126
TABLE 105 CANADA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 126
11.3.4 MEXICO 127
11.3.4.1 Growing demand for tires to drive market 127
TABLE 106 MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 127
TABLE 107 MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 127
TABLE 108 MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 127
TABLE 109 MEXICO: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 128
11.4 EUROPE 128
11.4.1 RECESSION IMPACT 128
FIGURE 36 EUROPE: PROCESS OIL MARKET SNAPSHOT 129
TABLE 110 EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 129
TABLE 111 EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 130
TABLE 112 EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON) 130
TABLE 113 EUROPE: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON) 130
TABLE 114 EUROPE: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 131
TABLE 115 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2022–2029 (USD MILLION) 131
TABLE 116 EUROPE: PROCESS OIL MARKET SIZE, BY TYPE, 2018–2021 (KILOTON) 131
TABLE 117 EUROPE: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 132
TABLE 118 EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 132
TABLE 119 EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 132
TABLE 120 EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 133
TABLE 121 EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 133
11.4.2 RUSSIA 133
11.4.2.1 Rise in rubber and polymer industry to propel demand 133
TABLE 122 RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 134
TABLE 123 RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 134
TABLE 124 RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 134
TABLE 125 RUSSIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 135
11.4.3 GERMANY 135
11.4.3.1 Growing automotive industry to boost demand for tires 135
TABLE 126 GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 135
TABLE 127 GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 136
TABLE 128 GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 136
TABLE 129 GERMANY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 136
11.4.4 UK 137
11.4.4.1 Advancement in textile industry to drive market 137
TABLE 130 UK: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 137
TABLE 131 UK: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 137
TABLE 132 UK: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 138
TABLE 133 UK: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 138
11.4.5 FRANCE 138
11.4.5.1 Increasing production of personal care products to fuel market 138
TABLE 134 FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 139
TABLE 135 FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 139
TABLE 136 FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 139
TABLE 137 FRANCE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 140
11.4.6 SPAIN 140
11.4.6.1 Increasing investment in automotive sector to enhance demand 140
TABLE 138 SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 140
TABLE 139 SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 141
TABLE 140 SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 141
TABLE 141 SPAIN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 141
11.4.7 ITALY 142
11.4.7.1 Growing demand from textile industry to drive market 142
TABLE 142 ITALY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 142
TABLE 143 ITALY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 142
TABLE 144 ITALY: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 143
TABLE 145 ITALY: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 143
11.4.8 REST OF EUROPE 143
TABLE 146 REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 143
TABLE 147 REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 144

TABLE 148 REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 144
TABLE 149 REST OF EUROPE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 144
11.5 MIDDLE EAST & AFRICA 145
11.5.1 RECESSION IMPACT 145
TABLE 150 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 145
TABLE 151 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 145
TABLE 152 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON) 146
TABLE 153 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON) 146
TABLE 154 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 146
TABLE 155 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 147
TABLE 156 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 147
TABLE 157 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 147
TABLE 158 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 148
TABLE 159 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 148
TABLE 160 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 148
TABLE 161 MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 149
11.5.2 SAUDI ARABIA 149
11.5.2.1 Rising demand for personal care products to drive market 149
TABLE 162 SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 149
TABLE 163 SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 150
TABLE 164 SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 150
TABLE 165 SAUDI ARABIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 150
11.5.3 UAE 151
11.5.3.1 Increasing government investment in automobile sector to contribute to market growth 151
TABLE 166 UAE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 151
TABLE 167 UAE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 151
TABLE 168 UAE: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 152
TABLE 169 UAE: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 152
11.5.4 IRAN 152
11.5.4.1 Development of polymer industry to drive market 152
TABLE 170 IRAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 153
TABLE 171 IRAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 153
TABLE 172 IRAN: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 153
TABLE 173 IRAN: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 154
11.5.5 REST OF MIDDLE EAST & AFRICA 154
TABLE 174 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 154
TABLE 175 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 155
TABLE 176 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 155
TABLE 177 REST OF MIDDLE EAST & AFRICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 155
11.6 SOUTH AMERICA 156
11.6.1 RECESSION IMPACT 156
TABLE 178 SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 156
TABLE 179 SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 156
TABLE 180 SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2018–2021 (KILOTON) 157
TABLE 181 SOUTH AMERICA: PROCESS OIL MARKET, BY COUNTRY, 2022–2029 (KILOTON) 157
TABLE 182 SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (USD MILLION) 157
TABLE 183 SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (USD MILLION) 158
TABLE 184 SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2018–2021 (KILOTON) 158
TABLE 185 SOUTH AMERICA: PROCESS OIL MARKET, BY TYPE, 2022–2029 (KILOTON) 158
TABLE 186 SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 159
TABLE 187 SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 159
TABLE 188 SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 159
TABLE 189 SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 160
11.6.2 BRAZIL 160
11.6.2.1 Textile industry growth to drive demand 160
TABLE 190 BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 160
TABLE 191 BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 161
TABLE 192 BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 161
TABLE 193 BRAZIL: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 161

11.6.3 ARGENTINA 162
11.6.3.1 Growing demand for commercial vehicles to drive market 162
TABLE 194 ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 162
TABLE 195 ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 162
TABLE 196 ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 163
TABLE 197 ARGENTINA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 163
11.6.4 COLOMBIA 163
11.6.4.1 Growing textile industry to increase demand 163
TABLE 198 COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 164
TABLE 199 COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 164
TABLE 200 COLOMBIA: PROCESS OIL MARKET BY APPLICATION, 2018–2021 (KILOTON) 164
TABLE 201 COLOMBIA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 165
11.6.5 REST OF SOUTH AMERICA 165
TABLE 202 REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 165
TABLE 203 REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 166
TABLE 204 REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2018–2021 (KILOTON) 166
TABLE 205 REST OF SOUTH AMERICA: PROCESS OIL MARKET, BY APPLICATION, 2022–2029 (KILOTON) 166
12 COMPETITIVE LANDSCAPE 167
12.1 INTRODUCTIONS 167
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 167
12.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS 167
12.3 REVENUE ANALYSIS 168
FIGURE 37 REVENUE ANALYSIS OF TOP 5 COMPANIES (2019–2023) 168
12.4 MARKET SHARE ANALYSIS 169
12.4.1 MARKET SHARE OF KEY PLAYERS 169
FIGURE 38 PROCESS OIL MARKET SHARE ANALYSIS 169
TABLE 206 DEGREE OF COMPETITION: PROCESS OIL MARKET 169
12.4.1.1 Shell (UK) 170
12.4.1.2 Exxon Mobil Corporation (US) 170
12.4.1.3 TotalEnergies (France) 170
12.4.1.4 Idemitsu Kosan Co., Ltd. (Japan) 170
12.4.1.5 Petroliam Nasional Berhad (PETRONAS) (Malaysia) 171

12.4.2 RANKING OF KEY MARKET PLAYERS, 2023 171
FIGURE 39 RANKING OF TOP FIVE PLAYERS IN PROCESS OIL MARKET, 2023 171
12.5 BRAND/PRODUCT COMPARISON 172
FIGURE 40 BRAND/PRODUCT COMPARISON 172
12.5.1 PROCESS OIL BY SHELL 173
12.5.2 PROCESS OIL BY EXXON MOBIL CORPORATION 173
12.5.3 PROCESS OIL BY TOTALENERGIES 173
12.5.4 PROCESS OIL BY IDEMITSU KOSAN CO., LTD. 173
12.5.5 PROCESS OIL BY PETROLIAM NASIONAL BERHAD (PETRONAS) 173
12.6 COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023 173
12.6.1 STARS 173
12.6.2 EMERGING LEADERS 173
12.6.3 PERVASIVE PLAYERS 174
12.6.4 PARTICIPANTS 174
FIGURE 41 PROCESS OIL MARKET COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023 174
12.6.5 COMPANY FOOTPRINT 175
FIGURE 42 COMPANY FOOTPRINT (10 COMPANIES) 175
TABLE 207 COMPANY REGION FOOTPRINT (10 COMPANIES) 175
TABLE 208 BY TYPE (10 COMPANIES) 176
TABLE 209 BY APPLICATION (10 COMPANIES) 177
TABLE 210 BY FUNCTION (10 COMPANIES) 177
12.7 STARTUP/SME EVALUATION MATRIX, 2023 178
12.7.1 PROGRESSIVE COMPANIES 178
12.7.2 RESPONSIVE COMPANIES 178
12.7.3 DYNAMIC COMPANIES 178
12.7.4 STARTING BLOCKS 178
FIGURE 43 GLOBAL PROCESS OIL MARKET START-UP/SME EVALUATION MATRIX, 2023 179
TABLE 211 PROCESS OIL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 180
12.8 COMPANY VALUATION AND FINANCIAL METRICS 180
12.8.1 COMPANY VALUATION 180
12.8.2 FINANCIAL METRICS 181
FIGURE 44 EV/EBITDA 181
FIGURE 45 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS 181
12.9 COMPETITIVE SCENARIO AND TRENDS 182
12.9.1 PRODUCT LAUNCHES 182
TABLE 212 PROCESS OIL MARKET: PRODUCT LAUNCHES, FEBRUARY 2018–MAY 2024 182
12.9.2 DEALS 182
TABLE 213 PROCESS OIL MARKET: DEALS, FEBRUARY 2018–MAY 2024 182
12.9.3 EXPANSIONS 183
TABLE 214 PROCESS OIL MARKET: EXPANSIONS, FEBRUARY 2018–MAY 2024 183