The Global Naphthenic Process Oil Market was valued at USD 1.73 Billion in 2023 and is projected to reach USD 2.76 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.3% during the forecast period (2024–2030). This robust growth is driven by escalating demand from the tire & rubber industry, expansion in polymer production, and the superior performance characteristics of naphthenic oils in various industrial applications.

As industries worldwide prioritize efficiency, performance, and environmental compliance, the focus shifts to the key suppliers of high-quality process oils. These companies are at the forefront of innovation, providing essential raw materials that enhance the processing and performance of rubber, plastics, adhesives, and personal care products. In this analysis, we profile the Top 10 Companies in the Naphthenic Process Oil Industry—a group of specialized refiners and global energy giants shaping the future of industrial processing.

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🔟 1. Royal Dutch Shell PLC

Headquarters: London, United Kingdom
Key Offering: Shellflex® Naphthenic Oils

Shell is a leading global supplier of naphthenic process oils, with its Shellflex® range being widely recognized for high solvency, excellent thermal stability, and low pour points. These oils are critical in the production of tires, industrial rubber goods, and adhesives, serving major OEMs and manufacturers across continents.

Technical and Sustainability Initiatives:

• Development of low-Polycyclic Aromatic Hydrocarbon (PAH) oils to meet stringent regulatory standards.

• Investment in refinery upgrades to enhance the quality and consistency of naphthenic base oils.

• Commitment to reducing the carbon footprint of its industrial products portfolio.

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9️⃣ 2. Nynas AB

Headquarters: Stockholm, Sweden
Key Offering: Nyflex® and Nypol® Naphthenic Oils

Nynas is a globally renowned specialty oils producer, often considered a market leader in naphthenic process oils. The company’s products are prized for their superior solvency power, which improves polymer processability and final product performance in applications ranging from thermoplastic elastomers (TPEs) to printing inks.

Technical and Sustainability Initiatives:

• Pioneering the production of highly refined, environmentally acceptable naphthenic oils.

• Strong R&D focus on developing tailor-made solutions for the plastics and rubber industries.

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8️⃣ 3. Ergon, Inc.

Headquarters: Jackson, Mississippi, USA
Key Offering: HyLube® Naphthenic Process Oils

Ergon is a major player in the North American market and a significant global exporter of naphthenic process oils. Its HyLube® series offers excellent stability and compatibility, making it a preferred choice for rubber compounding, industrial lubricants, and metalworking fluids.

Technical and Sustainability Initiatives:

• Strategic investments in refining technology to ensure product purity and consistency.

• Focus on supplying oils that comply with FDA and other international safety regulations.

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7️⃣ 4. Calumet Specialty Products Partners, L.P.

Headquarters: Indianapolis, Indiana, USA
Key Offering: Calumet Naphthenic Oils

Calumet is a leading independent producer of specialty hydrocarbons and fuels in North America. Its naphthenic process oils are essential components in the manufacturing of adhesives, sealants, and a wide array of rubber products, supported by a robust supply chain.

Technical and Sustainability Initiatives:

• Diversified product portfolio catering to specific customer requirements in niche markets.

• Operational focus on safety, reliability, and environmental stewardship.

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6️⃣ 5. Repsol S.A.

Headquarters: Madrid, Spain
Key Offering: Repsol Naphthenic Process Oils

Repsol, a leading energy and petrochemical company in Europe, supplies high-quality naphthenic process oils to the regional market. Its products are used extensively in the production of rubber, polymers, and other industrial applications, benefiting from the company’s integrated refining and chemical operations.

Technical and Sustainability Initiatives:

• Commitment to the energy transition, with investments in circular economy projects.

• Development of advanced formulations to help customers meet sustainability goals.

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5️⃣ 6. Avista Oil AG

Headquarters: Uetze-Dollbergen, Germany
Key Offering: Recycled and Virgin Naphthenic Base Oils

Avista Oil is a significant European supplier with a unique focus on both virgin and re-refined naphthenic oils. This dual approach allows the company to offer sustainable alternatives without compromising on the technical performance required by the rubber and transformer oil industries.

Technical and Sustainability Initiatives:

• Leadership in oil re-refining, promoting a circular economy for lubricants and process oils.

• High-quality standards ensuring that re-refined oils meet virgin oil specifications.

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4️⃣ 7. Cross Oil & Refining Co.

Headquarters: Smackover, Arkansas, USA
Key Offering: Cross™ Naphthenic Process Oils

Cross Oil is a key independent refiner in the United States, specializing in naphthenic crude oils. The company produces a range of process oils known for their light color, low odor, and excellent solvency, making them ideal for sensitive applications like personal care products and food-grade polymers.

Technical and Sustainability Initiatives:

• Specialization in niche, high-purity naphthenic oils from specific crude sources.

• Focus on maintaining a lean and efficient operation to ensure competitive pricing.

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3️⃣ 8. APT Petroleum & Chemicals (ExxonMobil Joint Venture)

Headquarters: Singapore
Key Offering: Process oils for the Asia-Pacific region

This joint venture leverages ExxonMobil’s technology and APT’s regional expertise to supply high-quality process oils across Asia. The operation is critical for meeting the growing demand from the rapidly expanding automotive and manufacturing sectors in the region.

Technical and Sustainability Initiatives:

• Access to ExxonMobil’s global research and development capabilities.

• Strategic location in Singapore facilitates efficient supply to key Asian markets.

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2️⃣ 9. CPC Corporation, Taiwan

Headquarters: Taipei, Taiwan
Key Offering: Naphthenic oils for industrial applications

CPC Corp. is the state-owned oil and gas company of Taiwan and a significant supplier of process oils in East Asia. Its products support the local robust electronics, automotive, and plastics industries, with a focus on consistent quality and reliability.

Technical and Sustainability Initiatives:

• Investment in refinery modernization to improve product yield and environmental performance.

• Active participation in regional initiatives for sustainable industrial development.

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1️⃣ 10. Gandhar Oil Refinery (India) Limited

Headquarters: Mumbai, India
Key Offering: Divyol® Brand Naphthenic Oils

Gandhar Oil is a leading Indian manufacturer of white oils and specialty process oils. The company has a strong foothold in the domestic market and is expanding its global presence, offering cost-effective and high-performance naphthenic oils for rubber, textiles, and agrochemicals.

Technical and Sustainability Initiatives:

• Significant capacity expansion to cater to growing domestic and international demand.

• Focus on developing products that meet the specific needs of emerging markets.

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🏭 Outlook: The Future of Naphthenic Process Oil Is Driven by Sustainability and Specialization

The naphthenic process oil market is experiencing a significant transformation. While traditional applications continue to dominate consumption, the industry is increasingly influenced by regulatory pressures, the demand for higher-performing materials, and the global push for sustainability.

📈 Key Trends Shaping the Market:

• Rising demand for low-PAH and food-grade naphthenic oils to meet stringent EU REACH and other global regulations.

• Growth in the automotive sector, particularly tire manufacturing, fueling demand for high-quality rubber process oils.

• Increasing adoption in polymer and thermoplastic elastomer (TPE) production for enhanced flexibility and processability.

• Strategic shifts by refiners to focus on high-value specialty products amid volatile crude oil markets.

Get Full Report Here:
Naphthenic Process Oil Market – View in Detailed Research Report

The companies profiled above are not just suppliers of a commodity; they are essential partners in the global manufacturing ecosystem, enabling the production of safer, higher-performing, and more sustainable industrial and consumer goods.