Market Overview

Process fluid is used in various application such as polymerization, catalyst, solvents, cleaners and other. Furthermore, it is highly used in various industries such as oil & gas, paint & coatings, plastics, electronics, fragrance, and others. The motorization of the population in the developing countries such as China, US, and others, is one of the key factors of the future growth in demand for process fluid. Additionally, the growing paint & coating industry is driving the process fluid market.

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Market Segmentation

Global process fluids market is divided by types, applications, end user industry, and region. Based on types, process fluid the market is segmented into paraffinic oils, naphthenic oils, aromatic oils, veg & bio oils, and others. Based on application, the process fluids market is segmented into polymerization, catalyst, solvents, cleaners, and other. Process fluid have various features such as thermal stability and resistance to oxidation, high purity, low polarity, high solvency, high boiling point, and low reactivity.

The high purity features make process oil suitable for electronic applications, such as wax removal and circuit board cleaning. The high solvency enables dissolution of many solids, greases, oils, resins, etc. Furthermore, process fluids have numerous potential use such as reaction medium, extracting agent, catalyst carrier, slow release agent, dispersant, softening agent, industrial solvent, industrial cleaner, and others.

The use of process fluid as solvent for natural products is the oldest and the most developed process on an industrial scale such as the purification of polymers from residual solvents or monomers. Process fluids have unique properties which improves many types of chemical process operations.

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 other applications.

Competitive analysis

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.

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