Specialties of Lube Oil Refinery Market worth $11.3 billion by 2023 | Major Players are Exxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), Eni S.p.A. (Italy), Sasol Ltd. (South Africa)

The report "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" The specialties of lube oil refinery market is projected to reach USD 11.3 billion by 2023, at a CAGR of 1.8% between 2018 and 2023. The specialties of lube oil refinery market is expected to grow from USD 10.4 billion in 2018 to USD 11.3 billion by 2023, at a CAGR of 1.8%. The growth of the specialties of lube oil refinery market is attributed to the growing packaging, pharmaceutical, and cosmetics industries.

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The fully refined wax market is projected to have the highest share during the forecast period.
Based on type, the specialties of lube oil refinery market has been segmented into fully refined wax, semi refined wax, slack wax, microcrystalline wax, white oil, rubber process oil, petrolatum, and others. Fully refined wax is projected to be the largest segment of the market during the forecast period. Fully refined wax is largely used in personal care and pharmaceutical products such as cold creams, hair oils, lipsticks, ointments, and laxatives. The increasing demand for better quality cosmetics and healthcare products is further driving the demand for specialties of lube oil refinery.

APAC is projected to register the highest CAGR, in terms of value, in the specialties of lube oil refinery market during the forecast period.
The specialties of lube oil refinery market has been studied for APAC, North America, Europe, South America, and the Middle East & Africa. The APAC specialties of lube oil refinery market is projected to register the highest CAGR, in terms of value, during the forecast period. The global specialties of lube oil refinery market has witnessed a sluggish growth, owing to the slow growth in North America and Europe. This created huge opportunities for the consumption of specialties of lube oil refinery in APAC. Change in lifestyle and purchasing power parity of the consumers in this region is also driving the use of specialties of lube oil refinery in the cosmetics, pharmaceutical, and packaging industries.

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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) are the key players operating in the specialties of lube oil refinery market.

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.

Key Questions addressed by the report
• What are the future revenue pockets in the specialties of lube oil refinery market?
• Which key developments are expected to have a long-term impact on the specialties of lube oil refinery market?
• Which product technologies are expected to cannibalize existing technologies?
• How is the current regulatory framework expected to impact the market?
• What will be the future product mix of the specialties of lube oil refinery market?
• What are the prime strategies of leaders in the specialties of lube oil refinery market?

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