ID: MRFR/CnM/2457-HCR | 145 Pages | Author: Priya Nagrale | October 2023
Process fluid is an important element in various industries such as oil & gas, paint & coatings, plastics, electronics, fragrance, and others. The growing industrialization of industries has surged the demand for process fluid. Process fluid have features such as high boiling points, low vapor pressures, excellent thermal stability, and low emissions that offer the potential for use in a number of specialized applications such as reaction mediums, extracting agents, softening agents, polymerization mediums, and others.Process fluid has found its applications in numerous industries such as plastic, paint & coatings, and others. Increasing in demand of oil & gas industry is likely to drive the process fluid market growth. The growing paint & coating industry on account of developing domestic as well as commercial market particularly in Asia Pacific and North America has boosted the global process fluid market over the forecasted period.
Global Process fluid Market by Region (2020-2030)
Regional Analysis Asia Pacific is the biggest market of process fluid due to huge utilization in oil & gas industry, especially in China followed by Japan and India. Growing demand for plastic, paint & coatings, and other industries in China, India, Japan, Taiwan, and South Korea has made Asia Pacific the largest competitor in the global process fluid market followed by North America owing to increasing population growth, urbanization in this region. In North America, process fluid market is driven by chemical industries. Additionally, the third largest market of process fluid is Europe due to large utilization polymerization, catalyst, solvents, cleaners and others applications. Moreover, Latin America and Middle East are also observing the growth of process fluid market due to various industry such as plastic, paint & coatings, oil & gas, and others.
Segmentation:The global process fluid market is majorly segmented on the basis of types, application, end users and region. On the basis of types process fluid the market is segmented into paraffinic oils, naphthenic oils, aromatic oils, veg & bio oils, and others. Based on application of process fluid the market is segmented into polymerization, catalyst, solvents, cleaners and others. On the other hand, based on end user the market segmented into oil & gas, paint & coatings, plastics, electronics, fragrance, and others, and based on region, market is segmented into North America, Europe, APAC, Latin America, and Middle East & Africa.
Key Players:Key players of the global 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), Private Limited. (India), and others.
Geographical Analysis:The report covers brief analysis of geographical regions such as North America, Europe, APAC, and Latin America, Middle East & Africa.
Study Objectives of Process Fluid Market
Intended Audience
Report Attribute/Metric | Details |
Market Size | · 2030 : USD 9231.3 million |
CAGR | 4.5%(2022–2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Application and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | BASF SE (Germany),Songwon Industrial Co., Ltd. (South Korea),Clariant AG (Switzerland),Akzo Nobel N.V. (The Netherlands), Evonik Industries AG (Germany),ADEKA CORPORATION (Japan),Solvay SA (Belgium),INDOFIL INDUSTRIES LIMITED (India),Bruggemann Group (Germany),Baerlocher GmbH (Germany) |
Key Market Opportunities | Owing to the increasing demand for fire retardants specifically urethane, polyester, and PVC plastics provides various growth opportunities |
Key Market Drivers | The increasing use of heat stabilizers and the rising demand for thermal for inhabiting deterioration for plastic polymers that are heat prone. |
Leading types of process fluids include paraffinic oils, naphthenic oils, aromatic oils, veg and bio oils, and others.
Major applications of process fluids include polymerization, catalyst, solvents, cleaners, and others.
The increasing demand in the oil and gas and paints and coatings industries is the major driver for the global process fluid market.
Asia Pacific holds a dominant share of close to 50% in the global process fluid market.
Leading players in the market include Eastman, Renkert Oil, and LUKOIL, among others.
Key Questions Answered
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