Market Overview:
The global process fluid market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for process fluids in various applications such as polymerization, catalyst, solvents, cleaners, and others. In terms of type, the paraffinic oils segment is expected to lead the market during the forecast period owing to its properties such as low volatility and high flash point. In terms of application, the polymerization segment is projected to grow at a higher CAGR than other segments during the forecast period. North America dominates the global process fluid market followed by Europe and Asia Pacific.
Product Definition:
A process fluid is a liquid or gas that is used to carry out a particular manufacturing or processing operation. The most important function of process fluid is to perform the required task in an efficient and economical manner. In addition, it must be safe for both workers and the environment.
Paraffinic Oils:
Paraffinic oils are a group of mineral-based, light yellow colored vegetable oils. They comprise of very low flash point and high viscosity making them ideal for use in process industries such as petroleum, chemical processing and food industry. Paraffinic oils have been gaining importance on account of their lower cost over the specialty or renewable counterparts.
Naphthenic Oils:
Naphthenic oils are used as process fluids in the manufacturing of paints, coatings, varnishes and inks. They have a high content of naphthenic acid which is an organic liquid derived from crude oil. The product has low viscosity and is clear with a mild odor. It has similar properties as compared to paraffin waxes but contains higher proportion of acid value.
Application Insights:
The polymerization application segment accounted for the largest revenue share in 2016 and is projected to continue its dominance over the forecast period. The growth can be attributed to increasing demand for polymers, such as polyethylene, polypropylene, high-density polyethylene and others in various industries including automotive & transportation.
Polymerization requires a catalyst that functions as an agent that promotes or enables chemical reactions without being involved in them directly. These catalysts are required to carry out multiple polymerizations at the same time with high efficiency while minimizing costs and environmental pollution. Thus, rising demand for these catalysts from various end-use industries is expected to drive global POF consumption over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising product demand from various end-use industries, such as paints & coatings, automotive, pharmaceuticals, and others. China is one of the largest producers and consumers of these oils across this region owing to easy availability of raw materials coupled with cheap labor costs.
The presence of numerous small-scale manufacturers in emerging economies such as India has led to a significant increase in local content for polymers across this region. This factor will also contribute toward increasing regional demand for process fluids over the next eight years. North America emerged as a major consumer due to high consumption levels from end-use industries including automotive and construction sectors on account of cold weather conditions that require application specific lubricants (ASL).
Growth Factors:
- Increasing demand from the end-user industries for better quality products and efficient production processes
- Growing awareness about the benefits of using process fluids in various industrial applications
- Rising investments by companies in research and development to develop new and innovative process fluids
- Proliferation of small and medium-sized enterprises that are increasingly adopting process fluids for their operations
- Technological advancements that are resulting in the development of more efficient and user-friendly process fluid management systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Process Fluid Market Research Report
By Type
Paraffinic Oils, Naphthenic Oils, Aromatic Oils, Veg & Bio Oils, Others
By Application
Polymerization, Catalyst, Solvents, Cleaners, Others
By Companies
Eastman Chemical Company (US), Process Oil Inc.(US), Renkert Oil LLC (US), LUKOIL Lubricants Company (Russia), Panama Petrochem Ltd. (India), Eastern Petroleum Private Limited (India), HollyFrontier Refining & Marketing LLC (US), Nynas AB (Europe), Taurus Petroleums Pvt. Ltd. (India), Pentagon Lubricants (India), Eastman Chemical Company (US)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Process Fluid Market Report Segments:
The global Process Fluid market is segmented on the basis of:
Types
Paraffinic Oils, Naphthenic Oils, Aromatic Oils, Veg & Bio Oils, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Polymerization, Catalyst, Solvents, Cleaners, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Eastman Chemical Company (US)
- Process Oil Inc.(US)
- Renkert Oil LLC (US)
- LUKOIL Lubricants Company (Russia)
- Panama Petrochem Ltd. (India)
- Eastern Petroleum Private Limited (India)
- HollyFrontier Refining & Marketing LLC (US)
- Nynas AB (Europe)
- Taurus Petroleums Pvt. Ltd. (India)
- Pentagon Lubricants (India)
- Eastman Chemical Company (US)
Highlights of The Process Fluid Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Paraffinic Oils
- Naphthenic Oils
- Aromatic Oils
- Veg & Bio Oils
- Others
- By Application:
- Polymerization
- Catalyst
- Solvents
- Cleaners
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Process Fluid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Process fluid is a type of liquid used in industrial processes. It is made up of water, oil, and other chemicals that are mixed together to create a specific mixture for the process being performed.
Some of the key players operating in the process fluid market are Eastman Chemical Company (US), Process Oil Inc.(US), Renkert Oil LLC (US), LUKOIL Lubricants Company (Russia), Panama Petrochem Ltd. (India), Eastern Petroleum Private Limited (India), HollyFrontier Refining & Marketing LLC (US), Nynas AB (Europe), Taurus Petroleums Pvt. Ltd. (India), Pentagon Lubricants (India), Eastman Chemical Company (US).
The process fluid market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Process Fluid Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Process Fluid Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Process Fluid Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Process Fluid Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Process Fluid Market Size & Forecast, 2018-2028
4.5.1 Process Fluid Market Size and Y-o-Y Growth
4.5.2 Process Fluid Market Absolute $ Opportunity
Chapter 5 Global Process Fluid Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Process Fluid Market Size Forecast by Type
5.2.1 Paraffinic Oils
5.2.2 Naphthenic Oils
5.2.3 Aromatic Oils
5.2.4 Veg & Bio Oils
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Process Fluid Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Process Fluid Market Size Forecast by Applications
6.2.1 Polymerization
6.2.2 Catalyst
6.2.3 Solvents
6.2.4 Cleaners
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Process Fluid Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Process Fluid Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Process Fluid Analysis and Forecast
9.1 Introduction
9.2 North America Process Fluid Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Process Fluid Market Size Forecast by Type
9.6.1 Paraffinic Oils
9.6.2 Naphthenic Oils
9.6.3 Aromatic Oils
9.6.4 Veg & Bio Oils
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Process Fluid Market Size Forecast by Applications
9.10.1 Polymerization
9.10.2 Catalyst
9.10.3 Solvents
9.10.4 Cleaners
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Process Fluid Analysis and Forecast
10.1 Introduction
10.2 Europe Process Fluid Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Process Fluid Market Size Forecast by Type
10.6.1 Paraffinic Oils
10.6.2 Naphthenic Oils
10.6.3 Aromatic Oils
10.6.4 Veg & Bio Oils
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Process Fluid Market Size Forecast by Applications
10.10.1 Polymerization
10.10.2 Catalyst
10.10.3 Solvents
10.10.4 Cleaners
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Process Fluid Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Process Fluid Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Process Fluid Market Size Forecast by Type
11.6.1 Paraffinic Oils
11.6.2 Naphthenic Oils
11.6.3 Aromatic Oils
11.6.4 Veg & Bio Oils
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Process Fluid Market Size Forecast by Applications
11.10.1 Polymerization
11.10.2 Catalyst
11.10.3 Solvents
11.10.4 Cleaners
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Process Fluid Analysis and Forecast
12.1 Introduction
12.2 Latin America Process Fluid Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Process Fluid Market Size Forecast by Type
12.6.1 Paraffinic Oils
12.6.2 Naphthenic Oils
12.6.3 Aromatic Oils
12.6.4 Veg & Bio Oils
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Process Fluid Market Size Forecast by Applications
12.10.1 Polymerization
12.10.2 Catalyst
12.10.3 Solvents
12.10.4 Cleaners
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Process Fluid Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Process Fluid Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Process Fluid Market Size Forecast by Type
13.6.1 Paraffinic Oils
13.6.2 Naphthenic Oils
13.6.3 Aromatic Oils
13.6.4 Veg & Bio Oils
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Process Fluid Market Size Forecast by Applications
13.10.1 Polymerization
13.10.2 Catalyst
13.10.3 Solvents
13.10.4 Cleaners
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Process Fluid Market: Competitive Dashboard
14.2 Global Process Fluid Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Eastman Chemical Company (US)
14.3.2 Process Oil Inc.(US)
14.3.3 Renkert Oil LLC (US)
14.3.4 LUKOIL Lubricants Company (Russia)
14.3.5 Panama Petrochem Ltd. (India)
14.3.6 Eastern Petroleum Private Limited (India)
14.3.7 HollyFrontier Refining & Marketing LLC (US)
14.3.8 Nynas AB (Europe)
14.3.9 Taurus Petroleums Pvt. Ltd. (India)
14.3.10 Pentagon Lubricants (India)
14.3.11 Eastman Chemical Company (US)
