MarketResearchNest.com adds “Global Process Oil Market 2017-2021” new report to its research database. The report spread across 74 pages with table and figures in it.
Research analysts forecast the global process oil market to grow at a CAGR of 2.56% during the period 2017-2021.
About Process Oil
During the fractional distillation of crude oil, the heated oil fraction is removed to derive process oils from it. Process oils are more volatile than gasoline and are mixtures of naphthenic, paraffinic, and aromatic compounds in varying proportions. Lubricants play a crucial role in sectors such as automotive, aviation, manufacturing, and marine. They are used for the maintenance of both new and old machines and equipment to reduce friction, which increases over time because of the wear and tear of working surfaces. Manufacturers are focusing on improving the effectiveness of lubricants, as this will, in turn, reducing the maintenance cost incurred in machines and equipment while extending their service life. Process oils are derived from crude oil and are mixtures of the naphthenic, paraffinic, and aromatic compounds in varying proportions.
Covered in this report
The report covers the present scenario and the growth prospects of the global process oil market for 2017-2021. To calculate the market size, the report considers the new sales volumes and excludes the aftermarket/services market.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-process-oil-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Process Oil Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Process Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global process oil market: Chevron, Nynas, PetroChina Company, Royal Dutch Shell, and TOTAL.
Other Prominent Vendors in the market are: Apar Industries, AVISTA OIL, Calumet Specialty Products Partners, Cargill, Cross Oil, ENGEN PETROLEUM, Exxon Mobil, Gandhar Oil, HPCL, Hydrodec Group, HollyFrontier, H&R GROUP, LUKOIL, ORGKHIM Biochemical, Panama Petrochem, Petronas Belgium, Phillips 66, PROCESS OILS, Raj Petro Specialities, RENKERT OIL, Repsol, Schaeffer Manufacturing, San Joaquin Refining, Valvoline, and Witmans Industries.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Next-generation process oils. Gas-to-liquid (GTL)-based process oils have uniform chemical structures, which is due to the manufacturing process used to derive these hydrocarbons from natural gas instead of crude oil. GTL technology enables large-scale production of base oils, which are used in the manufacturing of premium finished lubricant products and process oils. The GTL technology is based on the Fischer-Tropsch process.”
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According to the report, one of the major drivers for this market is Growth of global professional skincare market. According to Technavio, the global professional skin care market is projected to grow at a CAGR of 6% during the forecast period. The market was valued at $11.15 billion in 2016 and is expected to reach $15.18 billion by 2021. The market will be driven by the growing demand for the health and wellness industry and premium skincare products. Among the various types of process oils, white oils are commonly used in personal care products and many other cosmetic formulations such as petroleum jelly, and hair and skin care products.
Further, the report states that one of the major factors hindering the growth of this market is Emergence of dry-type transformers. Electric power is conventionally distributed using liquid-immersed distribution transformers. For more than a century, this form of transformers has been under continued operation. Oil is considered to be an excellent coolant and insulating medium. However, the oil type used in liquid-immersed distribution transformers is highly inflammable. With more and more distribution transformers being installed in densely populated areas, there has been a growing need to ensure the safety of people around.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain