According
to a recent market research report released by Transparency Market
Research, the global base oil market is estimated to expand at a CAGR
of 1.4% during the period between 2015 and 2020. The report, titled
“Base Oil Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2020”, estimates the demand for base
oils to reach up to 39,614.7 kilo tons by 2020. However, the
valuation of the overall market is expected to drop during the
forecast horizon. The overall market was worth US$34,514.1 mn in 2014
and is expected to be valued at US$30,973.1 mn by 2020.
Browse
Base Oil Market Report with Full TOC at
http://www.transparencymarketresearch.com/base-oils-lubes-market.html
The
report points out that the growth in automobile industry has resulted
to increased demand for finished lubricants. Stringent emission
standards across the globe have led to change in lubricant
formulation methods. Further, rapid industrialization in emerging
economies has propelled the demand for lubricants from various end
user segments. All these factors are expected to push the growth of
the global base oil market. However, the report notes that the
plummeting crude oil prices along with gradual shift to heavy, sour
crude oil by refiners will negatively impact the overall base oil
market. The market witnesses a significant opportunity to grow with
the introduction of gas-to-liquid technology that will increase the
supply of highly pure and efficient base oils at competitive prices
in future.
On
the basis of product type, the report segments the global base oil
market into Group I, Group II, Group III, and others. The report
estimates the demand for Group I base oils to fall significantly by
2020 due to the increasing preference for superior quality Group II
and Group III base oils in industrial and automotive sectors in
Europe and North America. However, in regions such as Asia Pacific,
the Middle East, and South America, the demand for certain grades of
Group I oil such as Bright Stock will be high. With more rigid
emission control standards, the demand for Group III base oil will be
higher, especially in the automotive sector for manufacturing
finished lubricants.
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further inquiries, click here
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=288
In
terms of applications, the report categorizes the global base oil
market into process oils, industrial oils, metalworking fluids,
automotive oils, hydraulic oils, and others. In 2014, automotive oils
dominated the overall base oil market and is forecasted to lead the
market in the next couple of years.
The
report studies the global base oil market across Europe, North
America, Central and South America, Asia Pacific, and Middle East and
Africa. With the presence of majority of global auto manufacturers in
Europe, the region contributes significantly towards the demand for
automotive oils.
The
report profiles some of the key players in the global base oil market
such as Sinopec Corporation, Phillips 66 Company, Royal Dutch Shell
plc, ExxonMobil Corporation, S-Oil Corporation, SK Lubricants Co.
Ltd., Chevron Corporation, BP plc, GS Caltex Corporation, MOGoil
GmbH, and PetroChina Company Limited.
Article
Of Base Oil Market
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
Browse
TMR Blog Energy Reports :
http://www.tmrblog.com/search/label/Energy
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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
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and analyze information.
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data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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