Base Oil Market is Expected to Cross US$ 41 Billion by 2021

Florida, April 27: Market Research Engine has published a new report titled as “Base Oil Market by Product (Group I, Group II, III, IV, V) and by Application (Industrial Oils, Process Oils, Automotive Oils, Metalworking Fluids, Hydraulic Oils etc.) – Global Industry Analysis, Trends and Forecast 2016 – 2021”.

The base oil market is expected to exceed more than USD 41 billion by 2021; Growing at a CAGR of about 1.0% between 2015 and 2021.

Browse Full Report:
https://www.marketresearchengine.com/reportdetails/base-oil-market

Base oil is used for creating many products such as metal processing fluids, motor oils and greases. The very essential part of base oil is viscosity, because different products need different property and composition in the oil. Base oil is created from chemical synthesis process or from crude oil by applying heat, when heating process is going hydrocarbons are separated which are heavy or light in weight. Petrol and other fuels are made from light hydrocarbon and base oil is produced from heavy one. It is suitable for making gear oil, premium engine oil and hydraulic oil

The major driving factors of base oilmarket are as follows:

Development in automotive business will raised requirement for finished lubricants.

Fast industrialization in rising economies drives the requirement for lubricants with different end user segmentation.

Stringent secretion principals resulting in modifying in lubricant formulation system.

The restraining factors of base oilmarket are as follows:

Reducing crude oil values affects the base oil revenues.

Gradual move to weight and sour crude oil through refiners will harmfully forces base oil production.

The base oil market is segmented on the lines of its product, application and geography. Under product segmentation the base oil market covers Group I, Group II, Group III, Group IV and Group V. The base oil market is segmented on the lines of its application like industrial oil, hydraulic oil, grease, automotive oil and metalworking fluids. The base oil market is geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

This report provides:

1) An overview of the global market for base oil and related technologies.

2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2020.

3) Identifications of new market opportunities and targeted promotional plans for base oil market.

4) Discussion of research and development, and the demand for new products and new applications.

5) Comprehensive company profiles of major players in the industry.

REPORT SCOPE:

The scope of the report includes a detailed study of global and regional markets for various types of base oil with the reasons given for variations in the growth of the industry in certain regions.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Exxon Mobile Corporation, Royal Dutch Shell plc, SK Lubricants Co. Ltd., and Chevron Corporation. Other market players profiled in this research report include British Petroleum plc, Sinopec Group, GS Caltex Corporation, MOGoil GmbH, PetroChina Company Limited, Phillips 66 Company, and S-Oil Corporation. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.

The Base Oil Market has been segmented as below:

By Product Segment Analysis

Group I
Group II
Group III
Group IV
Group V

By Application Analysis

Automotive Oil
Industrial Oil
Metalworking Fluids
Hydraulic Oil
Greases
Others

By Regional Analysis

North America
Europe
Asia-Pacific
Rest of the World

Reasons to buy this Report:
1) Obtain the most up to date information available on all active and planned base oil industry globally.
2) Identify growth segments and opportunities in the industry.
3) Facilitate decision making on the basis of strong historic and forecast of coating industry and unit capacity data.
4) Assess your competitor’s refining portfolio and its evolution.

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This release was published on openPR.