The Global Process Oil Market was valued at USD 4,754 million in 2023 and is projected to reach USD 6,383.36 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.30% during the forecast period. This growth is driven by expanding applications in tire manufacturing, polymer processing, and industrial lubricants, coupled with rising demand from emerging economies.

As manufacturers increasingly require specialized formulations that balance performance with environmental compliance, process oil producers are innovating across product portfolios. This report profiles the Top 10 Companies in the Process Oil Industry – global refiners and specialty chemical leaders who are defining quality standards across multiple industrial sectors.

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🔟 1. Shell Plc

Headquarters: London, United Kingdom
Key Offering: Paraffinic, naphthenic and aromatic process oils

Shell leads the global process oil market with comprehensive refinery integration and technical expertise. The company supplies high-performance formulations to tire manufacturers, polymer producers and industrial lubricant blenders across all major markets.

Innovation Highlights:

• Global R&D centers developing sustainable process oil alternatives
• Custom formulations for high-performance rubber applications
• Strategic partnerships with major tire manufacturers

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9️⃣ 2. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Paraffinic process oils

Chevron manufactures premium-grade process oils meeting stringent food contact and medical application requirements. The company’s ISO-certified production facilities deliver consistent quality for critical industrial uses.

Innovation Highlights:

• USP/NSF-approved white oils production
• High-purity manufacturing processes
• Global supply chain with regional technical support

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8️⃣ 3. TotalEnergies

Headquarters: Paris, France
Key Offering: Paraffinic and naphthenic process oils

TotalEnergies operates Europe’s most advanced process oil facilities, supplying optimized solutions to polymer and rubber manufacturers worldwide. The company is expanding its sustainable product portfolio.

Innovation Highlights:

• Eco-friendly process oil development initiatives
• Specialized polymer-grade formulations
• Closed-loop processing technologies

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7️⃣ 4. Nynas AB

Headquarters: Stockholm, Sweden
Key Offering: Naphthenic specialty oils

Nynas specializes in high-solvency naphthenic process oils for demanding applications. The company serves tire, polymer and roofing industries with tailored viscosity solutions.

Innovation Highlights:

• CIRCLE sustainability program for circular production
• TDAE technology for tire applications
• Bio-based process oil research

Download FREE Sample Report: Process Oil Market – View in Detailed Research Report

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6️⃣ 5. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Paraffinic and aromatic process oils

ExxonMobil provides technical process oil solutions for synthetic rubber, adhesives and polymer applications through its global refining network and technical teams.

Innovation Highlights:

• Escorez™ tackifying resins for adhesives
• Special rubber formulations development
• Global technical service network

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5️⃣ 6. Idemitsu Kosan Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Naphthenic process oils

Idemitsu leads the Asian market with high-performance process oils for electronics and technical applications. The company focuses on purity and consistency for industrial users.

Innovation Highlights:

• Electronic grade process oils
• Advanced purification technologies
• Closed-loop manufacturing systems

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4️⃣ 7. HollyFrontier Corporation

Headquarters: Dallas, Texas, USA
Key Offering: Paraffinic and white oils

HollyFrontier produces pharmaceutical-grade process oils for food contact, medical and cosmetic applications alongside industrial formulations.

Innovation Highlights:

• USP-grade white oils production
• High-purity manufacturing processes
• Stringent quality control systems

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3️⃣ 8. H&R Group

Headquarters: Hamburg, Germany
Key Offering: Specialized naphthenic and paraffinic process oils

With production in Europe and North America, H&R Group supplies precision-formulated process oils to manufacturers requiring specific performance characteristics.

Innovation Highlights:

• Custom viscosity formulations
• Sustainable production methods
• Technical collaboration with OEMs

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2️⃣ 9. Petronas Lubricants International

Headquarters: Kuala Lumpur, Malaysia
Key Offering: Paraffinic, naphthenic and aromatic process oils

Petronas serves the Asia-Pacific region with a full spectrum of process oils through integrated supply chain operations and regional technical centers.

Innovation Highlights:

• Bio-based process oil solutions
• Technical service hubs across Asia
• Tire industry-specific formulations

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1️⃣ 10. Repsol S.A.

Headquarters: Madrid, Spain
Key Offering: TDAE, MES, RAEs process oils

Repsol is a leading European producer of specialized process oils for rubber and polymer applications, with strong focus on circular economy solutions.

Innovation Highlights:

• Low-PAH process oil development
• Oil re-refining initiatives
• Strategic alliances with European manufacturers

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

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🌍 Market Outlook: Process Oils in the Era of Sustainable Industry

The process oil sector is undergoing transformation as manufacturers balance technical performance requirements with regulatory compliance and sustainability goals.

📈 Key Industry Trends:

• Shift toward TDAE and low-PAH oils in tire manufacturing
• Growing adoption of bio-based and renewable process oils
• Advanced purification technologies for high-purity applications
• Expansion in Southeast Asian and Indian manufacturing sectors

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

The profiled companies represent the vanguard of process oil technology – supplying essential materials while driving innovations that enable next-generation manufacturing across global industries.