Base Oil Market Positive Long-Term Growth Outlook 2020
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
Global Base Oil Market: Application Analysis
Global Base Oil Market: Regional Analysis
Central & South America
Middle East & Africa
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
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:
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: 350
More Releases from Transparency Market Research
Distributed Operating System Market: A Latest Research Report to Share Industry …
A distributed operating system is a software which is a collection of distinct computational nodes that are networked, independent, and communicating in order to perform certain operations The distributed operating system manages the jobs that are serviced by multiple processing units. Every distinct node holds a precise software subset of the global collective operating system. Each subset is a composite of two distinct service provisions. The first subset is a universal kernel,
Research Outlines Huge Growth In Automatic Dependent Surveillance Broadcast Mark …
Automatic dependent surveillance-broadcast (ADS-B) is surveillance technology which enables an aircraft to determine its position through satellite navigation. Automatic dependent surveillance-broadcast (ADS-B) helps to track an aircraft through periodical broadcasts. As a replacement for secondary surveillance radar, automatic dependent surveillance - broadcast (ADS–B) technology can be used by air traffic control ground stations to gather information regarding tracking of the aircraft. It can also be used by other aircrafts to enable
RF Shielded Test Enclosures Market: Structure and Overview of Key Industry
RF shielded test enclosures, also called RF shielded test boxes, are used for testing of RF and microwave devices in an isolated test environment, which lacks interference of other devices as well as the external environment These test boxes are used in isolation from unintended electromagnetic interference in noisy surroundings. In order to check whether a device is functioning up to the mark in an isolated environment, these boxes are used
Pitot Tube Anemometers Market Will Escalate Rapidly in the Near Future
A pitot tube anemometer is a flow measurement device that is designed to measure and display air pressure, air velocity, volumetric flow, and air temperature Pitot tube anemometers involve use of the microprocessor technology for signal processing, which ensures quick and accurate measuring results Pitot tube anemometers are available in two types i.e. portable and fixed When not in use, a pitot tube anemometer should be placed in dry conditions and be protected
More Releases for Oil
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Oil & Gas Explosion Lawyer
Concerns about gas and oil explosions and worker safety have been at the forefront of Oklahoma state officials’ minds as they continue to investigate a recent Pittsburg County explosion that left five workers dead and 17 with minor injuries. The explosion has shaken a state that is heavily invested in the fuel industry and has been said to be the worst incident of its kind since the Deepwater Horizon tragedy. Oklahoma
Cottonseed Oil Market
Global cottonseed oil market is expected to grow at a steady rate as the product is used in processing of many food & beverage products. It has neutral flavour and is said to enhance the natural taste of food products in which they are used. Thus, they are used extensively for frying and baking purposes. Margarines, whipped toppings, icings, salads, potato chips & french fries, cereals, baked goods, stir-fried and
Automotive Gear Oil Market
Automobile gears (or cogs) are rotating machine part having cut teeth, or cogs which mesh with another toothed part in order to transmit torque. The arrangement of two or more gears forms automotive transmission system. Automotive gear oil can be petroleum or synthetic based, used especially for lubricating automotive gears for all class of vehicles. It provide high transmission efficiency, reduce engine heating, provides proper clutch friction, insure better oxidation