Global Base Oil Market: Growing Demand for Efficient and Pure Base Oils from Automotive Sector to Encourage Growth
Browse Market Research Report @ : http://www.transparencymarketresearch.com/base-oils-lubes-market.html
According to the research study by Transparency Market Research, the global market for base oils is predicted to reach a value of US$30,973.1 mn by the end of 2020. The market is likely to register a steady growth rate in the next few years.
From a geographical perspective, Asia Pacific is projected to lead the global base oil market with a massive share in the forecast period. As per the study, this region is projected to account for a 41.4% share of the global base oil market, thanks to the robust development of the industrial sector. In addition, the rapidly developing automotive sector is expected to boost the demand for base oil resulting in a greater uptake of finished lubricants. This is projected to fuel the growth of the Asia Pacific market in the coming years. Furthermore, North America is anticipated to register a moderate growth rate in the forecast period, with a significant fall in the sales of automobiles in the last few years.
On the basis of product type, the group I segment is expected to lead the global base oil market throughout the forecast period. However, a slight downward trend is expected in the growth of this segment, due to the fact that these oils are considered as incapable of meeting most of the stringent performance standards and emission norms imposed by governments across the globe. Several emerging economies, across the globe, such as the Middle East and Africa, Asia Pacific, and Central and South America are anticipated to remain the key consumers of the group I segment of the base oils market.
Development of Automotive Industry to Bolster Global Base oil Market
The significant growth of the global automotive market is expected to create a high demand for finished lubricants. This is anticipated to encourage the growth of the global base oil market in the coming years. In addition, the stringent rules and regulations imposed by governments related to emissions are anticipated to result in a substantial change in the lubricant formulation methods. The robust rate of industrialization, especially in developing economies is predicted to encourage the growth of the global base oil market in the next few years.
Fill the form to gain deeper insights on this market @ : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=288
Fluctuating Crude Oil Prices to Inhibit Market Growth
The global base oil market, on the flip side, is estimated to face several challenges in the coming years, which is projected to restrict the growth of the overall market in the coming years. The gradual shift by refiners to heavy, sour crude oil is predicted to hamper the growth of the global base oil market. In addition, the plummeting crude oil prices are anticipated to affect the base oil revenue in a negative manner in the next few years. Nevertheless, the introduction of the gas-to-liquid technology is projected to enhance the supply of extremely efficient and pure base oils in the next few years. This is projected to generate promising opportunities for the key players operating in the global base oil market in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Base Oil Market by Product - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2020.”
The global base oil market has been segmented as below:
Global Base Oil Market, by Product
Global Base Oil Market, by Application
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 Global Base Oil Market: Growing Demand for Efficient and Pure Base Oils from Automotive Sector to Encourage Growth here
News-ID: 462191 • Views: 560
More Releases from Transparency Market Research
Water and Wastewater Pipes Market Size to Surpass USD 8.3 Billion by 2031|TMR Re …
The global Water and Wastewater Pipes market is estimated to attain a valuation of US$ 8.3 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5% during the forecast period, 2022-2031. The key objective of the TMR report is to offer a complete assessment of the global market including major leading
Advancements in Onychomycosis Treatment: An Overview of Latest Developments and …
The global 𝗢𝗻𝘆𝗰𝗵𝗼𝗺𝘆𝗰𝗼𝘀𝗶𝘀 𝗧𝗿𝗲𝗮𝘁𝗺𝗲𝗻𝘁 market is estimated to attain a valuation of by the end of 2030, states a study by Transparency Market Research (TMR). The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the Onychomycosis Treatment industry. The current and historical status of the market together with forecasted market size and trends are demonstrated in the
Air Purifier Market to Hit USD 20.7 Billion by 2030, Owing to Rise in Disposable …
The global Air Purifier market is estimated to attain a valuation of US$ 20.7 Bn by the end of 2030, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 8% during the forecast period, 2020-2030. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of
Radiopharmaceutical Theranostics Market is expected to see a growth of 15.1 % du …
The global 𝗥𝗮𝗱𝗶𝗼𝗽𝗵𝗮𝗿𝗺𝗮𝗰𝗲𝘂𝘁𝗶𝗰𝗮𝗹 𝗧𝗵𝗲𝗿𝗮𝗻𝗼𝘀𝘁𝗶𝗰𝘀 market is estimated to attain a valuation of US$ 12.4 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 15.1% during the forecast period, 2023-2031. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of
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