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Key Insights of “Base Oil Market” to 2024 - Dominated by North America and Europe Region

10-08-2020 12:09 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsandReports

Base Oil Market Forecasts report provided to identify significant trends, drivers, influence factors in global and regions, agreements, new product launches and acquisitions, Analysis, market drivers, opportunities and challenges, risks in the market, cost and forecasts to 2024.

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The Base Oil Market is projected to grow from USD 33.7 Billion in 2019 to USD 39.6 Billion by 2024, at a CAGR of 3.3% from 2019 to 2024. This report spread across 480 Pages, Profiling 27 Companies and Supported with XX Tables and XX figures are now available in this research.

Top Key Players Profiled in the Base Oil Market:
• Chevron Corporation (US)
• Exxon Mobil Corporation (US)
• S-OIL Corporation (South Korea)
• Motiva Enterprises LLC (US)
• SK innovation Co.Ltd. (South Korea)
• Royal Dutch Shell plc (Netherlands)
• Neste Oyj (Finland)
• AVISTA OIL AG (Germany)
• Nynas AB (Sweden)
• Repsol S.A. (Spain)
• Ergon Inc. (US)
• Calumet Specialty Products Partners L.P. (US)
• H&R Group (Germany)
• Sinopec Corp. (China)
• PetroChina Company Limited (China)
• Saudi Aramco (Saudi Arabia)
• Abu Dhabi National Oil Company (ADNOC) (UAE)
• PT Pertamina (Persero) (Indonesia)
• Phillips 66 (US)
• Petroliam Nasional Berhad (PETRONAS) (Malaysia)
• GRUPA LOTOS S.A. (Poland)
• Sepahan Oil (Iran)
• GS Caltex Corporation (South Korea)
• Hindustan Petroleum Corporation Limited or HPCL (India)

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Based on group, the Group II segment accounted for the largest share of the base oil market in 2018. Group II base oil is used in a multitude of applications, such as marine and gas engines, in trunk piston engine oils, and other applications in the base oil industry. The high consumption of Group II base oil is mainly attributed to its higher performance and affordability in comparison to the other groups of base oil.

Based on application, the automotive oil segment led the base oil market in 2018. The growth of this segment can be attributed to increasing population and rise of the automotive sector in developing countries of the Asia Pacific region.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 – 60%, Tier 2 – 20%, and Tier 3 – 20%
• By Designation: C-level Executives – 33%, Directors – 33%, and Managers – 34%
• By Region: North America – 20%, Europe – 25%, Asia Pacific – 25%, the Middle East & Africa- 20%, and South America – 10%

Competitive Landscape of Base Oil Market:
1 Introduction
2 Market Structure and Dive Matrix
3 Company Market Share in Base Oil Market
4 Competitive Situation & Trends

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Reason to access tis report:
This report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the base oil market and its segments. The report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.

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