Process Oil Companies

The global process oil market is projected to grow from USD 5.38 billion in 2025 to USD 6.16 billion by 2030, at a CAGR of 2.8% during the forecast period. Process oils are specialty oils used as functional formulation components in industrial manufacturing to enhance processing efficiency, material flexibility, and overall product consistency. They are incorporated during the compounding and mixing stages to improve flow behavior, ensure uniform dispersion of fillers, and reduce internal friction, enabling smoother, more reliable production across a range of applications. Process oils commonly function as extender oils and plasticizers, helping manufacturers optimize formulations while maintaining required mechanical properties and cost efficiency. The market for process oils is growing as material-intensive manufacturing activities that depend on rubber and polymer processing expand, where stable processing conditions and consistent output quality are essential. Increasing production volumes and more complex material formulations are driving steady consumption, as process oils remain critical to achieving desired performance characteristics. In addition, evolving regulatory and safety expectations are influencing the selection of process oil grades, driving a gradual shift toward compliant, higher-quality alternatives. This transition supports value growth while maintaining overall demand. Together, the essential role of process oils in manufacturing workflows, ongoing industrial expansion, and formulation upgrades driven by performance and compliance needs are supporting the sustained growth of the process oil market. 

Exxon Mobil Corporation (US), Chevron Corporation (US), Shell (UK), Petroliam Nasional Berhad (PETRONAS) (Malaysia), and Idemitsu Kosan Co., Ltd. (Japan) fall under the winners’ category. These are leading players globally in the process oil market, based on their production capacities.

To know about the assumptions considered for the study download the pdf brochure

Shell (UK)

Shell is a British multinational oil and gas company. It is vertically integrated and active across the entire oil and gas industry, including exploration, production, refining, transportation, distribution, marketing, petrochemicals, power generation, and trading. Shell is one of the largest oil and gas companies globally and specializes in the management of oil and gas resources.

Shell's business segments are integrated gas, upstream, marketing, chemicals & products, and renewable & energy solutions. The company offers process oils under the marketing business segment. The company is also involved in chemicals and other energy-related businesses. It produces and markets technically advanced lubricants for mining, passenger cars, motorcycles, trucks, and coaches. The company has a presence in Europe, Asia, Oceania, Africa, and the Americas.

Exxon Mobil Corporation (US)

Exxon Mobil Corporation is a holding company and one of the world's largest oil & gas companies by revenue and market capitalization. Exxon Mobil markets its products worldwide under the brands Exxon, Mobil, and Esso. The company operates through four business segments: upstream, chemical products, specialty products, and energy products.

Specialty Products comprises business units that manufacture and market a range of performance products, including high-quality lubricants, base stocks, waxes, synthetics, elastomers, and resins. Leveraging Exxon Mobil’s proprietary technologies, Specialty Products focuses on providing performance products that help customers improve efficiency in the transportation and industrial sectors. The company offers process oils under Primol, Plastol, and FAXAM. The company has a geographic presence in North America, Europe, Asia Pacific, and the Middle East & Africa.

Chevron Corporation (US)

Chevron Corporation is a multinational energy corporation that operates globally, specializing in oil and gas. It is the second-largest integrated energy company. The company produces crude oil and natural gas and manufactures transportation fuels, lubricants, petrochemicals, and additives.

The company operates in three main segments: upstream, downstream, and others. Its products are sold through more than 8000 Chevron and Texaco retail stations across the US. It has a business portfolio including exploration and production, marketing and retail, supply and trading, chemicals, and technology. The company also provides process oil. It has major operations in North America, South America, Europe, Asia, the Middle East & Africa.

Petroliam Nasional Berhad (PETRONAS) (Malaysia)

Petroliam Nasional Berhad (PETRONAS) is wholly owned by the Government of Malaysia. The corporation is vested with the entire oil & gas resources in Malaysia and has a worldwide presence. It is engaged in a wide spectrum of petroleum activities and operates through six segments—petroleum products, LNG, crude oil and condensates, natural and processed gases, petrochemicals, and others. Its downstream business comprises oil refining, crude oil trading and marketing, and the manufacturing and marketing of petrochemical products for local and international consumption. The upstream business encompasses exploration, development, and production; LNG assets; LNG marketing and trading; and Malaysia Petroleum Management (MPM).

Idemitsu Kosan Co., Ltd. (Japan)

Idemitsu Kosan Co., Ltd. is engaged in petroleum refining and the manufacture of oil products. Its operating segments include petroleum, functional materials, basic chemicals, resources, and power/renewable energy. The company manufactures and sells fuel oils and lubricant oils in Japan and internationally. Idemitsu Kosan Co., Ltd. offers lubricants, marine and maintenance oils, metalworking and industrial oils, grease products, traction drive fluids, polyvinyl ethers, polyalkylene glycol oils, and petrochemicals, including basic and performance chemicals and engineering plastics.

The company offers processed oil products under its functional material segment. It also explores, extracts, and sells oil & gas, coal, uranium, and geothermal resources. The company offers agricultural biotechnology products and functional animal feeds. In addition, it generates renewable energy from wind, solar, biofuel, and hydrogen. Idemitsu produces and sells electronic materials, including OLED materials, special polycarbonate resins, and coating materials. The company has a geographic presence in Asia, Oceania, North America, and other regions.

Market Ranking

In the global process oil market, companies are ranked based on revenue, production capacity, technological innovation, and market presence. Leading players such as Exxon Mobil Corporation (US), Chevron Corporation (US), Shell (UK), Petroliam Nasional Berhad (PETRONAS) (Malaysia), and Idemitsu Kosan Co., Ltd. (Japan) are playing a crucial role in global supply, accounting for a significant share of total process oil production and exports. 

Related Reports:

Process Oil Market by Type (Aromatic, Paraffinic, Naphthenic, Non-Carcinogenic), Application (Tire & Rubber, Polymer, Personal Care, Textile), Function (Extender Oil, Plasticizer, Solvent, Defoamer), and Region - Global Forecast to 2030

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com