openPR Logo
Press release

Base Oil Market Positive Long-Term Growth Outlook 2020

01-30-2017 08:35 AM CET | Energy & Environment

Press release from: Transparency Market Research

The global base oil market exhibits a moderate degree of concentration at the top. As per Transparency Market Research (TMR), the leading market players accounted for 59.5% of the global base oil market in 2013. The companies that were dominant in the market were ExxonMobil, Shell, SK Lubricants, Chevron, S-Oil, GS Caltex, SINOPEC, and Neste Oil. “With the global refinery sector suffering from overcapacity, there is likelihood for oil companies to aggressively foray into refining business,” said a lead TMR analyst. Therefore, the existing fragmentation will either remain at status quo or pave way for market consolidation in the future. In either scenario, the highly concentrated structure of the global base oil market is projected to maintain competition at higher degrees.

Get PDF Brochure for more Professional and Technical industry insights : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=288

TMR forecasts the global base oil market to reach, which exhibited a capacity of 36,614.3 kilo tones in 2014, is expected to reach 39,614.7 kilo tons in 2020. If the figures hold true, the global base oil market will exhibit a CAGR of 1.4% based on volume between 2015 and 2020. Regionally, Asia Pacific is foretold to emerge dominant in terms of base oil consumption and hold over 41% of the global market by 2020. Based on demand, the industrial oils segment will remain the leading segment. It held almost 17.3% of the market in 2014.

Rising Demand from Automotive Industry to Aid Market’s Growth

The persistently increasing demand from the automotive industry will aid in the expansion of the global base oil market. As the automotive industry, which is also a key end user of base oils, uses these oils to manufacture various lubricants, growth in the industry will subsequently create opportunities for enterprises operating in the global base oil market. The industry accounted for over 45% of the global market in 2014 hence it is considered the largest application segment in the market.

Furthermore, the market is expected to gain from stringent emission standards that has resulted into change in lubricant formulation methods as these laws emphasize more stringent carbon dioxide emission standards and improvement in fuel economy. A shift towards more stringent rules will entail the use of better quality lubricants. The increasing demand for environment-friendly lubricants has triggered change in the base oil industry. For instance, higher quality base oils are now required to pace up with the rapidly changing preference in lubricants. Besides this, the demand for lubricants is also expected to increase in response to the industrialization witnessed across developing nations. Spurred by these factors, the global base oil market will report strong growth over the course of the forecast period.

Plummeting Crude Oil Prices to Pose Threat on Market

On the flip side, the gradual shift to sour and heavy crude oil by refineries holds potential of negatively impacting the global base oil production. The market is also facing challenge from the plummeting crude oil prices. For instance, the recent shale gas boon has catapulted the U.S. at forefront of oil production. Furthermore, the U.S. could become a net exporter of crude oil from being a net importer due to the increase rate of hydraulic fracking. Up until now, the price for oil was dependent upon OPEC countries with Saudi Arabia at the lead. However, with the U.S. emerging at fore, there is significant over supply of oil which consequently reduces its price, thereby having an adverse impact on the global base oil market.

Browse Report with Full TOC at : http://www.transparencymarketresearch.com/base-oils-lubes-market.html

Nevertheless, the market is expected to witness opportunities as the advent of gas-to-liquid technology fuels the supply of pure and efficient base oils at competitive prices.

This review is based on a TMR report, titled “Base Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2020.”

The report segments the global base oil market as:

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

US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

90 State Street, Suite 700
Albany, NY 12207

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Base Oil Market Positive Long-Term Growth Outlook 2020 here

News-ID: 423644 • Views:

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key players
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn

All 5 Releases


More Releases for Oil

Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
According to Fact.MR, the sales of cooking oils are expected to increase at a steady pace during the forecast period. The global cooking oil market is projected to expand at a value CAGR of 5.5% during the period of assessment (2017-2026). Also, Fact.MR analysis has revealed that the volume sales of cooking oils is estimated to surpass 250,000,000 tons by the end of the year of assessment (2026). Health advantages associated with
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
Since several years, cooking oil section in supermarkets and hypermarkets has been a crowded spot, where individuals keep choosing on several cooking oil options available that are healthy to consume. Cooking oil is an essential component in daily cooking activity, be it a restaurant or home. This, in combination with increasing population percentage, especially in emerging economies, is expected to fuel the consumption of cooking oils. However, aspects related to
Specialty Fats and Oils Market (Product Type - Specialty Oils (Corn Oil, Sun Flo …
The global Specialty fats and Oils Market expected to reach a value of US$ 142.1 Bn by 2026. The market projected to grow at a CAGR of 6.6 % in terms of revenue during the forecast period from 2018 to 2026, according to a new research report by Transparency Market Research (TMR). The product manufactured may vary according to the end use application of processing by specialty fats and oils.
Europe Mosquito Repellent Candles Market by Raw Material Type : Citronella Oil, …
Albany, New York, July 17, 2017 : Recent research and the current scenario as well as future market potential of "Mosquito Repellent Candles Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" globally. Mosquito repellent candles are having huge untapped potential for growth. In contrast to the other categories of mosquito repellent products that are available in the market such as mosquito creams, liquids, coils, and