The
global base oil market, titled “Base Oil Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2020”.
According to the report estimates, the market, which had a valuation
of US$34.5 bn in 2014, will be worth US$30.9 bn by 2020, depreciating
in valuation during the forecast horizon. By volume, however, the
demand for base oils will expand at a CAGR of 1.40% from 2015 to 2020
to rise to 39,614.7 kilo tons by 2020.The report points out that the
flourishing automobile industry has been exhibiting increased demand
for finished lubricants for improved vehicle performance. With strict
emission standards in place across the globe, lubricant formulation
methods have undergone significant change in recent years, thereby
complementing growth of the market.
In-depth
research report on Global Base Oil Market with Full TOC at :
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Rapid
industrialization in emerging economies, where lubricants are needed
in large volume across a large number of end-use industries, is
benefitting the global base oil market. However, plummeting crude oil
prices, along with refiners’ gradual shift towards heavy, sour
crude oil, will have a negative impact on the global market for base
oil. Nevertheless, the introduction of gas-to-liquid technology holds
immense promise for the market, since it will open opportunities for
pure and efficient base oils to be available at competitive prices in
the future.On the basis of product, Group I, Group II, Group III, and
others are the segments of the base oil market. According to the
report findings, the demand for Group I base oils will drop
significantly by 2020 due to the increasing preference for superior
grade Group II and Group III base oils for industrial and automotive
applications in North American and European countries.
However,
in Asia Pacific, South America, and the Middle East, the demand for
certain grades of Group I, such as Bright Stock, will be on the rise.
With strict emission control standards in place, the demand for Group
III base oil is expected to be higher, especially due to its usage in
finished lubricants in the automotive sector. By application, process
oils, metalworking fluids, hydraulic oils, industrial oils,
automotive oils, and others are the segments of the global base oil
market. In 2014, it is the automotive oils application segment that
dominated the overall market, and the segment is expected to retain
its lead position during the forecast period. Automotive oils exhibit
the highest demand from Europe, due to the region being an
established base for the automotive industry.Some of the major
companies that are listed in the global base oil market are Sinopec
Corporation, Royal Dutch Shell plc., S-Oil Corporation, Chevron
Corporation, GS Caltex Corporation, PetroChina Company Limited,
Phillips 66 Company, ExxonMobil Corporation, SK Lubricants Co. Ltd.,
BP plc., and MOGoil GmbH.
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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
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