While
the global demand for base oils is anticipated to rise by 2020, the
value of the base oil market is likely to witness a slump, according
to Transparency Market Research. In a report titled “Base Oil
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2015 - 2020”, Transparency Market Research states that the
demand for base oil was pegged at 36,614.3 kilo tons in 2014 and is
anticipated to rise to 39,614.7 kilo tons by 2020, developing at a
1.4% CAGR during that period. However, in terms of value, the global
base oil market is projected to drop from US$34,514.1 million in 2014
to US$30,973.1 million by 2020.The global base oil market is driven
by the development of the automotive industry around the world and
the resultant demand for finished lubricants, rapid industrialization
in developing countries, and rigid emission standards. In contrast,
diminishing crude oil prices and shift by refiners to heavy, sour
crude oil are likely to restrict the growth of the base oil market.
Browse
Base Oil Market Report with Full TOC at
http://www.transparencymarketresearch.com/base-oils-lubes-market.html
On
the basis of product type, the base oil market is segmented into
Group I, Group II, and Group III. Market analysts predict that by the
end of 2020, Group I base oils will witness a fall in demand mainly
owing to its substitution by superior quality Group II and Group III
base oils in industrial and automotive segments of Europe and North
America. However, certain grades of Group I such as Bright Stock will
continue their popular streak in regions such as South America, Asia
Pacific, and the Middle East. As emission standards get more rigid,
the demand for high quality lubricants especially in the automotive
sector are likely to rise, making Group III the most preferred base
stock for the manufacturing of finished lubricants.
By
application, the base oil market is segmented into industrial oils,
automotive oils, metalworking fluids, process oils, hydraulic oils,
and others. Among these, the automotive oils segment held the largest
share of the base oil market in 2014 and is projected to retain its
lead by the end of the forecast period. The automotive sector uses
naphthenic oils as greases, lubricating oils, or cutting fluids
during metalworking processes.Geographically, the global base oil
market is divided into North America, Europe, Asia Pacific, South and
Central America, and the Middle East and Africa.
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The
leading players operating in the global base oil market include Royal
Dutch Shell plc, GS Caltex Corporation, Chevron Corporation, S-Oil
Corporation, MOGoil GmbH, SK Lubricants Co. Ltd., Sinopec Group,
British Petroleum plc, PetroChina Company Limited, Phillips 66
Company, and Exxon Mobile Corporation. These companies have been
profiled in the research report on the basis of attributes such as
company and financial overview, product portfolio, business strategy,
and recent developments.
Browse
Article Of Base Oil Market
http://www.transparencymarketresearch.com/article/base-oils-lubes-market.htm
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
About
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
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
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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