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Naphthenic Base Oil Market Size, Growth, Trends, Industry Analysis And Global Forecast 2023-2032 | Calumet Specialty Products Partners L.P., Apar Industries Ltd., Ergon International Inc., Nynas AB, PetroChina Company Limited
Naphthenic Base Oil Market Report
The Business Research Company's Naphthenic Base Oil Global Market Report 2023 identifies increasing sales of vehicles as the major driver for the naphthenic base oil market's growth in the forecast period. A vehicle refers to an engine-powered automobile that transports people or items from one location to another, such as a bus, automobile, or truck. The naphthenic base oil is used in automotive lubricants such as lubricating greases, motor oil, and metal processing fluids.
The global naphthenic base oil market size is expected to grow from $2.20 billion in 2022 to $2.32 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global naphthenic base oil market size is expected to reach $2.80 billion in 2027 at a CAGR of 4.8%.
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Major competitors in the naphthenic base oil market are Calumet Specialty Products Partners L.P., Apar Industries Ltd., Ergon International Inc., Nynas AB, PetroChina Company Limited.
A key trend in the naphthenic base oil market includes technological advancements. Major companies operating in the naphthenic base oil market are developing innovative technologies to strengthen their position in the market. For instance, in October 2022, Nynas AB, a Sweden-based manufacturer of specialty naphthenic oils, launched NYTRO® RR 900X, a fluid designed for circular transformers that uses the most potent and efficient re-refining technology. The company gives utilities and OEMs the chance to participate in the circular economy and help meet greenhouse gas reduction goals with the introduction of the NYTRO RR 900X. Making the most of the fluid's initial production impact, the Nynas re-refining process recovers precious molecules that are no longer useful in their current state. The well-known dielectric behavior of conventional naphthenic dielectric fluids is preserved in NYTRO RR 900X. Nynas' cutting-edge, optimized hydro-treating process has allowed the business to provide products with top-tier qualities that are on par with virgin oils.
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The naphthenic base oil market is segmented -
•By Viscosity Index: 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, Above 800 SU
•By Application: Metal Working, Process Oil, Electrical Oil, Industrial Lubes And Grease, Rubber Oil, Other Applications
•By End-User: Automotive Industry, Aerospace Industry, Marine Industry, Energy Industry, Oil and Gas Industry, Textile Industry, Other End Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the naphthenic base oil market.
The Business Research Company's "Global Naphthenic Base Oil Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Naphthenic Base Oil Market Include:
1. Executive Summary
2. Naphthenic Base Oil Market Characteristics
3. Naphthenic Base Oil Market Trends And Strategies
4. Naphthenic Base Oil Market - Macro Economic Scenario
5. Naphthenic Base Oil Market Size And Growth
……
26. Africa Naphthenic Base Oil Market
27. Naphthenic Base Oil Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Naphthenic Base Oil Market
29. Naphthenic Base Oil Market Future Outlook and Potential Analysis
30. Appendix
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