The Process Oils Market size is estimated at 5.08 Million tons in 2024, and is expected to reach 5.80 Million tons by 2029, growing at a CAGR of 2.74% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market in 2020. However, the market reached pre-pandemic levels and is expected to grow steadily in the coming years.
The process oils market is partially consolidated in nature. Some of the major players in the market are Chevron Corporation, ExxonMobil Corporation, HP Lubricants, Royal Dutch Shell Plc, and Total.
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