Yes, the term paraffinic is used for conventional/mineral base oils as hydrocracked Grp II and higher base oils tend to have very high percentage of straight hydrocarbon molecular chains. This straight molecular structure is termed "paraffinic".
Naphthenic base oils, typically used for industrial oils, will include more round ring, "aromatic" type structures and do not have the cold temp & heat resistant properties of a paraffinic base oil.
Naphthenic oils, with the higher aromatic content, have good soluability and can be used in passenger car formulations, but generally more at an additive level.