openPR Logo
Press release

Base Oil Market New Innovations Technology And insightful with Key Players: BP PLC, Chevron Corporation, Ergon Inc., Evonik Industries AG, Exxon Mobil Corporation and More

02-07-2019 04:41 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Base Oil Market

Base Oil Market

The demand for Group I is expected to remain large for the coming years, though Group II & III are expected to respond rapidly by 2023. The need for higher quality base oils in automotive sector, coupled with, government regulations regarding the environment and better fuel economy are expected to drive this shift.

Base Oil Market was valued at $35,430 million in 2016, and is expected to reach $38,031 million by 2023, registering a CAGR of 1.0% from 2017 to 2023.

Major companies adopted agreement, product launches, expansions, mergers, and agreements to sustain the intense market competition. Key players profiled in the report include, BP PLC, Chevron Corporation, Ergon Inc., Evonik Industries AG, Exxon Mobil Corporation, H&R Ölwerke Schindler GmbH, Nynas AB, Petronas Pvt. Ltd., Royal Dutch Shell PLC, SK Lubricants Co. Ltd., and Total S.A.

Get Sample PDF Brochure of Base Oil Market Study at : https://www.alliedmarketresearch.com/request-sample/1547

Base oil is the refined petroleum mineral or synthetic material produced by a refinery to a required set of specifications, typically lubricant base stock. The quality of a lubricant can depend upon the type of base oil used for the refining and/or production method used to produce the base oil. It is critical toward the grade of lubricant as base oils normally make up to 70-97% of formulation of a lubricants.

Demand for oils in the automotive industry, especially from emerging countries, and stringent environmental legislation leading to strict performance standards drive the global base oil market. However, the fluctuating costs of crude oil and regulations concerning emission norms are expected to hamper the market growth in the future. The global shift from Group I base oils to Group II & III present numerous growth opportunities to market players.

In 2016, Group II and III segments collectively accounted for one-third market share. In terms of value, these types held approximately 36% share in the overall market. Group II is the top investment pocket in the base oil market, attributed to the replacement of Group I base oil owing to the increase in trend towards low and mid SAPS specifications (Sulfated Ash, Phosphorous, and Sulfur) and lighter viscosity grades. Thus, this segment is anticipated to provide high stability along with significant return on investment for the stakeholders, owing to its high growth rate and significant revenue contribution.

Asia-pacific Base Oil Market Analysis

Consumption of base oil in Asia-Pacific is expected to increase, owing to growth in industrial development, demand from the automotive industry, and stable economic growth. Emerging markets, such as China and India, are expected to witness the highest increase in demand for base oils during the forecast period. Substantial development in Group II and III base oils is anticipated to boost the market growth in this region.

Key Benefits for Stakeholders

• This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the base oil market.
• In-depth analysis of the market size is conducted, and estimations for key segments between 2014 and 2022 are provided.
• Competitive intelligence (of leading manufacturers and distributors) facilitates to understand the competitive scenario across the geographies.
• Factors that drive and restrain the growth of the market are provided in the report.
• Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• Market share for all segments with respect to each geography is detailed, which assists to understand the trends in the industry at the micro-level.
• Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the industry trends.

Do Purchase Enquiry at : https://www.alliedmarketresearch.com/purchase-enquiry/1547

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David C
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Base Oil Market New Innovations Technology And insightful with Key Players: BP PLC, Chevron Corporation, Ergon Inc., Evonik Industries AG, Exxon Mobil Corporation and More here

News-ID: 1566944 • Views:

More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices. Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529 What Are Urinary Drainage Bags? Urinary drainage bags are specialized medical devices designed to collect
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Billion by 2030; Growing at a CAGR of 17.2%
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario. Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of 5.6%
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031. Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in

All 5 Releases


More Releases for Base

Base Station Analyzer Market Report 2024 - Base Station Analyzer Market Trends A …
"The Business Research Company recently released a comprehensive report on the Global Base Station Analyzer Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry. Ready to Dive into Something Exciting? Get Your Free Exclusive
Base Station Analyzer Market Report 2024 - Base Station Analyzer Market Demand A …
"The Business Research Company recently released a comprehensive report on the Global Base Station Analyzer Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry. Ready to Dive into Something Exciting? Get Your Free Exclusive
Base Station Analyzer Market Report 2024 - Base Station Analyzer Market Demand A …
"The Business Research Company recently released a comprehensive report on the Global Base Station Analyzer Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry. Ready to Dive into Something Exciting? Get Your Free Exclusive
Base Editing Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Base Editing Market - (by Product (Platform, Reagents & Kits, Plasmids, Base Editing Libraries), Service (gRNA Design, Cell Line Engineering), Type, Targeted base (Cytosine, Adenine), Application, End-User, Trends, Industry Competition Analysis, Revenue and Forecast To 2031." According to the latest research by InsightAce Analytic, the Global Base Editing Market is valued at US$ 273.1 Mn in
Base Oil Market
The Global Base Oil Market size valued to USD 36.55 billion in 2019 is predicted to garner USD 41.65 billion by 2030, with a CAGR of 1.1% from 2020-2030. The Global Base Oil Market held a volumetric turn-over of 41,907.3 kilotons in 2019 that is expected to level-up to 48,879.3 kilotons by 2030, witnessing a CAGR of 1.3% from 2020-2030. Request sample copy of this report at: https://www.nextmsc.com/base-oil-market/request-sample Market Dynamics and Trends The
Base Oil Market Base Oil Market Size, Sales, Share and Forecasts by 2030
Base Oil Market: Introduction The global base oil market was valued at ~US$ 34 Bn in 2019 and is anticipated to expand at a CAGR of ~2% during the forecast period. Among grades, the Group I segment accounted for a major share of the global base oil market in 2019. However, the demand for Group I base oil is likely to decline during the forecast period, owing to their replacement by