Specialties of Lube Oil Refinery Market Worth Reach USD 11.3 Billion to 2023 - Dominated by Fully Refined Wax, Semi Refined Wax, Rubber Process Oil, White Oil and Petrolatum Applications

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The specialties of lube oil refinery market rising demand from applications such as candle manufacturing and rubber processing as well as growing population, changing lifestyle, and increasing per capita income are also driving the specialties of lube oil refinery market. Report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.

Report covers specialties of lube oil refinery market on basis of type and region. This report aims at estimating size and future growth potential of specialties of lube oil refinery market across various segmentation types. However, the shrinking supply of paraffin wax is majorly restraining the growth of the specialties of lube oil refinery market.

APAC specialties of lube oil refinery market are projected to register the highest CAGR between 2018 and 2023. This growth is mainly attributed to the growing population, increasing urbanization, rising number of working women. There is also an increasing concern about physical appearance and better healthcare needs, which, in turn, is driving the demand for specialties of lube oil refinery in the cosmetics and pharmaceutical applications.

The report covers the specialties of lube oil refinery market on the basis oftypeand region. This report aims at estimating the size and future growth potential of the specialties of lube oil refinery market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.

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The specialties of lube oil refinery market comprises several stakeholders such as raw material suppliers, end product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the developments in the cosmetics, packaging, rubber manufacturing, candle manufacturing, and pharmaceutical industries. The supply side is characterized by market consolidation activities undertaken by specialties of lube oil refinery producers.

Leading players in the specialties of lube oil refinery market, globally companies such as Exxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), PetroChina Company Limited (China), Repsol SA (Spain), Eni S.p.A. (Italy), LUKOIL (Russia), and Sasol Ltd. (South Africa).

Global specialties of lube oil refinery market is estimated to be USD 10.4 billion in 2018 and is projected to reach USD 11.3 billion by 2023, at a CAGR of 1.8%. Growth in packaging, pharmaceutical, and cosmetics industries is driving demand for specialties of lube oil refinery. Fully refined wax market is projected to register highest CAGR during forecast period. Growing demand for fully refined wax is due to its high purity levels and good moisturizing property.

Recent Developments
• In September 2018, Exxon Mobil announced that the new unit of its Beaumont, Texas facility has started operations. Through this expansion, the company will increase production of ultra-low sulfur fuels by about 45,000 barrels per day.
• In May 2018, Exxon Mobil signed an agreement with Sonatrach (Algeria) for the sale of its Augusta refinery, three fuel terminals in Augusta, Palermo, and Naples.
• In January 2018, Exxon Mobil signed a petroleum agreement with the Government of Ghana to acquire exploration & production rights for the Deepwater Cape Three Points Block.

More Information on “Specialties of Lube Oil Refinery Market by Type (Fully Refined Wax, Semi Refined wax, Rubber Process Oil, White Oil, Petrolatum , and Others), and Region (APAC, Europe, North America, South America, Middle East & Africa) Global Forecast to 2023” report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1766747 .

The growth of the segment is mainly attributed to the demand in the cosmetics, skin care, and pharmaceutical applications. Fully refined wax is preferred to manufacture various products such as lipsticks, cold creams, oily papers, ointments, chewing gums, and chocolate. This wax is also widely used for making candles.

Breakdown of primary interviews for the report on the specialties of lube oil refinery market
• By Company Type – Tier 1– 33%, Tier 2–17%, and Tier 3–50%
• By Designation – C Level Executives – 17%, Director Level–17%, and Others–66%
• By Region – North America – 20%, APAC– 40%, Middle East & Africa–40%

The specialties of lube oil refinery market comprises several stakeholders such as raw material suppliers, end product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the developments in the cosmetics, packaging, rubber manufacturing, candle manufacturing, and pharmaceutical industries.

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