Base Oil Market 2020 Global Industry Growth, Size, Demand, Trends, Insights & Forecast 2025| BP PLC, CHEVRON CORPORATION, ERGON INC., EVONIK INDUSTRIES AG, EXXON MOBIL CORPORATION, H&R LWERKE SCHINDLER GMBH, NYNAS AB, PETRONAS PVT. LTD., ROYAL DUTCH SHELL

Nearly every lubricant used in plants today began as a base oil. Base oils are graded by the American Petroleum Institute into 5 categories and the first three categories are refined using petroleum crude oil. Base oils in Group IV are synthetic oils. Group V is not included in Classes I to IV for any other base oils. Lubricating oils begin as one or more of these five groups before all additives are added to the mixture. Group 1 base oils are graded as saturates of less than 90%, sulphur of greater than 0.03% and viscosity indices ranging between 80 and 120. The Group II base oils are more than 90% saturated, less than 0.03% sulphur and have a level of viscosity between 80 and 120.

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The base oils of Group III are more than 90% saturated, less than 0.03% sulfur and have a viscosity index greater than 120. Polyalphaolephine is the base of Group IV oils. These synthetic basic oils are provided by a synthesizing process. Esters are popular Group V basis oils used to boost the properties of existing base oil in various lubricant formulations.

Industrial Lubricants

Asian robust demand growth, particularly in the industrial sector, will drive basic oil growth, and demand in the industrial sector is expected to grow significantly. Automotive manufacturers are focused on meeting the requirements of the engine and emission system and, therefore, carefully balances formulation of specifically selected base oil and advanced additives. Viscosity index improvers play a major role in maximizing efficiency, durability, cleanliness, and engine protection as components are becoming increasingly sophisticated. Engine oil formulators rely on viscosity modifiers to provide the required viscosity performance in high shear and low shear environments, while being exposed to a wide variety of lubricant temperatures. Growing demand for viscosity index improvers in automobile industry, as they are subjected to tremendous temperature swings is major factor driving the segment growth.

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In industrial lubricants application, viscosity index improvers are used in hydraulic fluids, industrial gear oils and greases, as it provides enhanced thickening efficiency, improved viscosity index, and appropriate shear stability. Both solid as well as liquid viscosity modifiers are used in this application. Liquid viscosity modifiers are easy to handle while preparing industrial fluids and lubricants. On the contrary, solid viscosity modifiers are economical and more convenient when large quantities of additives are required.

Demand for viscosity index improvers in industrial lubricants is expected to grow in coming years, as it helps equipment run longer and faster without expensive maintenance and repairs. Also, rising manufacturing activities across the globe along with increasing focus of manufacturers to enhance production process are other factors supporting segment growth over the forecast period.

The demand for lubricants shall consistently grow in the US, owing to the growth in the oil and gas production, construction industry, and high usage of heavy-duty trucks. Additionally, with the growing sales of light weight vehicle is expected to boost the market for lubricants over the forecast period. With the growing automotive production and high industrial demand for lubricants in Europe, the market for base oil is expected to experience a significant growth in the coming years. A wide selection of viscosity index improver brand options, local and international both are available for customers with various formulations such as base oil, additives, and stickiness improvers for various applications in automotive and industrial lubricants. The manufacturers are launching new and improved brands keeping in mind the regulation requirements set by various industries.

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Key Market Players

BP PLC

CHEVRON CORPORATION

ERGON INC.

EVONIK INDUSTRIES AG

EXXON MOBIL CORPORATION

H&R LWERKE SCHINDLER GMBH

NYNAS AB

PETRONAS PVT. LTD.

ROYAL DUTCH SHELL PLC

SK LUBRICANTS CO. LTD.

TOTAL S.A.

Others

Market Segments: Base Oil

Application
Automotive Oil
Industrial Oil
Metalworking Fluids
Hydraulic Oil
Greases
Others

Type

Group I
Group II
Group III
Group IV and Group V

By Region (tentative)

North America
S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Central & South America
Brazil
Rest of Central & South America
Middle East & Africa
South Africa
Rest of Middle East & Africa

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Key Sources

Industry Associations
Patent Websites
Company Annual Reports
Company Websites
Key industry leaders
Technology consultants
Battery Associations
Un Comtrade
E-commerce websites
Others

Key Questions Answered

What are the key growth regions and countries?
What are the important types and technologies being used?
What are the market players doing, in terms of research and development?
Which are the new applications for this market?
What are the integrations happening?
What are the recent news, developments, mergers, or large value deals?

Key Stakeholders

Raw material suppliers
Ink suppliers
Food packaging companies
E-commerce platforms
Tech companies
Regulatory Authorities
Research and Innovation Organizations
Suppliers and Distributors
Other Channel Partners
Quality Control Organizations
Environmental Authorities
Automotive companies

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