Press release
Base Oil Market by Product (Group I, Group II, Group III, and Others) and by Application (Automotive Oils, Process Oils, Industrial Oils, Metalworking Fluids, Hydraulic Oils, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast
According to a recent market research report released by Transparency Market Research, the global base oil market is estimated to expand at a CAGR of 1.4% during the period between 2015 and 2020. The report, titled “Base Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2020”, estimates the demand for base oils to reach up to 39,614.7 kilo tons by 2020. However, the valuation of the overall market is expected to drop during the forecast horizon. The overall market was worth US$34,514.1 mn in 2014 and is expected to be valued at US$30,973.1 mn by 2020.Interpret a Competitive outlook Analysis Report with free PDF Brochure:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=288
The report points out that the growth in automobile industry has resulted to increased demand for finished lubricants. Stringent emission standards across the globe have led to change in lubricant formulation methods. Further, rapid industrialization in emerging economies has propelled the demand for lubricants from various end user segments. All these factors are expected to push the growth of the global base oil market. However, the report notes that the plummeting crude oil prices along with gradual shift to heavy, sour crude oil by refiners will negatively impact the overall base oil market. The market witnesses a significant opportunity to grow with the introduction of gas-to-liquid technology that will increase the supply of highly pure and efficient base oils at competitive prices in future.
On the basis of product type, the report segments the global base oil market into Group I, Group II, Group III, and others. The report estimates the demand for Group I base oils to fall significantly by 2020 due to the increasing preference for superior quality Group II and Group III base oils in industrial and automotive sectors in Europe and North America. However, in regions such as Asia Pacific, the Middle East, and South America, the demand for certain grades of Group I oil such as Bright Stock will be high. With more rigid emission control standards, the demand for Group III base oil will be higher, especially in the automotive sector for manufacturing finished lubricants.
In terms of applications, the report categorizes the global base oil market into process oils, industrial oils, metalworking fluids, automotive oils, hydraulic oils, and others. In 2014, automotive oils dominated the overall base oil market and is forecasted to lead the market in the next couple of years.
The report studies the global base oil market across Europe, North America, Central and South America, Asia Pacific, and Middle East and Africa. With the presence of majority of global auto manufacturers in Europe, the region contributes significantly towards the demand for automotive oils.
The report profiles some of the key players in the global base oil market such as Sinopec Corporation, Phillips 66 Company, Royal Dutch Shell plc, ExxonMobil Corporation, S-Oil Corporation, SK Lubricants Co. Ltd., Chevron Corporation, BP plc, GS Caltex Corporation, MOGoil GmbH, and PetroChina Company Limited.
The research study has been segmented as below:
Global Base Oil Market: Product Analysis
Group I
SN150
BS150
SN500
Others
Group II
150N
500N
600N
Others
Group III
2cSt
4cSt
6cSt
8cSt
Others
Global Base Oil Market: Application Analysis
Automotive Oils
Industrial Oils
Process Oils
Metalworking Fluids
Hydraulic Oils
Others
Global Base Oil Market: Regional Analysis
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
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Albany, NY 12207
Tel: +1-518-618-1030
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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