Process Fluid Market will grow moderately over the forecast period 2016 to 2023. The growth of the process fluid market is highly dependent on the growth of the end-user industries such as electronics, fragrance, oil & gas, etc. The characteristics of process fluid have enabled its use in specialized applications such as extracting agents, reaction mediums, polymerization mediums, softening agents, etc. This is expected to keep influencing the expansion of the process fluid market positively in the foreseeable future.
Process fluid has found its applications in numerous industries such as plastic, paint & coatings, and others. Increasing in demand of oil & gas industry is likely to drive the process fluid market growth. The growing paint & coating industry on account of developing domestic as well as commercial market particularly in Asia Pacific and North America has boosted the global process fluid market over the forecasted period.
Process Fluid are predominantly utilized in number of end use industries such as plastics, oil & gas, paints & coatings, electronics, fragrances, and others. Process Fluid market is predicted to witness tremendous growth on account of their application such as solvents, cleaners, polymerization, and catalyst in numerous end use industries such as oil & gas, electronics, paints & coatings, and others.
Some of the top key players profiled in the report are Eastman Chemical Company (US), LUKOIL Lubricants Company (Russia), Panama Petrochem Ltd. (India), Eastern Petroleum Private Limited (India), Process Oil Inc. (US), Renkert Oil, LLC (US), HollyFrontier Refining & Marketing LLC (US), Taurus Petroleums Pvt. Ltd. (India), Pentagon Lubricants (India), and Nynas AB (Europe).
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Top Industry Updates:
April 2017– Hinduja Group-owned Gulf Oil International announced that its subsidiary Houghton International will merge with Quaker Chemical, a leading supplier of process fluid. This agreement will help company to become a leader in the space of specialty chemicals and process fluids. With this merger the company will expand its product portfolio and will able to meet the increasing demand for process fluid across the globe.
The process fluid market is majorly segmented on the basis of types, application, end users and region.
On the basis of types process fluid the market is segmented into paraffinic oils, naphthenic oils, aromatic oils, veg & bio oils, and others.
Based on application of process fluid the market is segmented into polymerization, catalyst, solvents, cleaners and others.
On the other hand, based on end user the market segmented into oil & gas, paint & coatings, plastics, electronics, fragrance, and others.
Based on region, market is segmented into North America, Europe, APAC, Latin America, and Middle East & Africa.
- Process Fluid manufacturers
- Traders and distributors of Process Fluid
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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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 others applications.
Moreover, Latin America and Middle East are also observing the growth of process fluid market due to various industry such as plastic, paint & coatings, oil & gas, and others.
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