Base Oil Market In Asia-Pacific Is Growing By 2018 To 2025 With Top Industry Players Like - PETRONAS, GS Caltex, Neste, S-OIL Corporation, Indian Oil Corporation Limited, China National Petroleum Corporation, Shell, ExxonMobil, Chevron
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Base Oil is the name given to lubrication grade oils initially produced from refining crude oil or through chemical synthesis. Base oil is typically defined as oil with a boiling point range between 550 and 1050 F, consisting of hydrocarbons with 18 to 40 carbon atoms. There is a growing demand for base oil in automotive and industrial activates, which is expected to be one of the major drivers of the market over the next seven years. Asia-Pacific Base Oil Industry accounted to USD XX.XX billion in 2017 growing at a CAGR of XX.XX% during the forecast period of 2018 to 2025. Asia-Pacific Base Oil Market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Major Market Competitors: Asia-Pacific Base Oil Market
Some of the major players in base oil market
· Exxon Mobil Corporation
· Chevron Corporation
· Petroliam Nasional Berhad (Petronas)
· GS Caltex Corporation
· Royal Dutch Shell PLC.
· China Petrochemical Corporation
· S-Oil Corporation
· Indian Oil Corporation Ltd.
· China National Petroleum Corporation
The Asia-Pacific base oil market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Major Market Drivers:
• Growing automotive industry
• Highindustrial growth
• Shift toward group iii base oil is causing shrinkage in the overall demand of base oil
• High price of high grade base oil
Market Segmentation: Asia-Pacific Base Oil Market
The base oil market is segmented on the basis of type
· group I
· group II
· group III
· group IV
· group V
On the basis of application, the market is segmented
On the basis of geography, the base oil market report covers data points for countries across geographies such as
· South Korea
· Rest of APAC
Research Methodology: Asia-Pacific Base Oil Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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