PROCESS OIL MARKET ANALYSIS

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For instance, in September 2013, Nynas AB acquired Shell's refinery based in Harburg, Germany. The Harburg refinery manufactures naphthenic base and process oils which are used as raw material for industrial rubber, adhesives, and fertilisers. The annual production capacity of Harburg refinery is 330000 tons. This acquisition is expected to strengthen Nynas AB’s presence in European market.

In March 2019, Nynas AB launched bio based type oil ‘NYTEX BIO 6200’ which is produced from renewable feedstock. NYTEX BIO 6200 is companies first bio based oil in portfolio. This new product launch aided the company to strengthen its product portfolio and further increase its position in the global market.

For instance, in February 2018, Norman Process Oils Malaysia Plant Sdn Bhd, a subsidiary of Orgkhim Biochemical Holding from Russia, built new production at Johor Bahru District, Johor, Malaysia to manufacture Carcinogen-Free Rubber Process Oils. The company has invested US$ 50 million to build this new production facility. This new plant enabled the company to strengthen its product portfolio and further increase its business of process oil Asia Pacific market.

For instance, in May 2017, ExxonMobil Asia Pacific Pte Ltd acquired Jurong Aromatics Corporation Pte Ltd plant, a Singapore based aromatic manufacturer. Jurong Aromatics Corporation Pte Ltd has production capacity over 3.5 million tonnes per year. This acquisition has helped ExxonMobil Asia Pacific Pte Ltd to expand its product portfolio in Asia Pacific market.

Major players in the process oil market are Royal Dutch Shell plc, Chevron Corporation, and Petronas Lubricants Belgium NV, Nynas AB, ORGKHIM Biochemical Holding and Repsol S.A.