Showing posts with label Base Oil Market Research. Show all posts
Showing posts with label Base Oil Market Research. Show all posts

Monday, 7 September 2015

Growth of Automotive Industry to Drive Base Oils Market

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.


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.


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.

Contact
Mr.Nachiket
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

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Friday, 14 August 2015

Base Oil Market Expansion Driven by Automobile and Industry Based Demand and Oil Prices Fluctuations

Base oils are at present acquired through two methods: by refining crude oil or through synthesis of relatively pure compounds. Base oils used for formulating lubricants are vegetable-based, mineral, or synthetic. They are classified according to their chemical structure into naphthenic or paraffinic base oils. The global base oil market is anticipated to reach 39,614.7 kilo tons by 2020 at a sluggish CAGR of 1.4% from 2015. The base oil classification system has been established by The American Petroleum Institute (API). According to this classification, base oils are segmented into 5 main groups. The basis of this classification is the percentage of sulfur content, viscosity index, and saturates.

Browse Base Oil Market Report with Full TOC at http://www.transparencymarketresearch.com/base-oils-lubes-market.html

Demand for base oils is driven by some key factors that are expected to determine the market’s growth trajectory in the years to come. Population growth and expanding urbanization is likely to lead to escalation in demand for automobiles. The rapid expansion of the automotive industry is predicted to increase the need for lubricants and base oils worldwide. Expansion of the industrial sector in emerging economies such as Brazil, China, India, and Russia is anticipated to fuel the demand for base oils in these regions.

Declining Oil Prices Dictate Pricing Trends

Base oil revenue is negatively affected by plunging crude oil prices. Due to the uncertainty of oil prices, base oil prices are estimated to be unpredictable over the next few years. However, technological advances based on GTL or gas to liquid technology may provide a promising opportunity for the base oil market. The GTL refining process is used for production of high-quality lubricants that have more efficiency.


The growing importance given to fuel economy in new automotive design and stringent regulations about greenhouse gas emissions will lead to the use of high-quality lubricants. The need for environmentally friendly lubricants would result in continuous progression and large-scale transformation of formulation processes for base oils to match ecological standards. The diminishing reserves of sweet crude oil in North America and Europe and sour crude oil’s greater purity and lower price is compelling refiners to switch to sour crude from sweet crude oil. All these factors are collectively aiding the global base oil market’s growth.

Demand for Group II and Group III Base Oils High from Automotive and Industrial Segments

Among the five base oil classification groups, Group 1 base oils had the major market share in 2014 and are expected to continue the growth trend over the next few years, though this group is expected to experience an ebb in demand in Europe and North America.The preference for superior base oils of Group II and Group III in industries is expected to drive these segments of base oils. Currently, Group III is the most preferred base oil for the manufacture of finished lubricants in the automotive sector worldwide. In 2014, the automotive oils application segment had the prime market share in the global base oil market and is anticipated to continue its dominance over the next few years.


Elevated consumption of Group II and Group III base oils has led to new production plants and capacity extensions being added all over the world. Group II base oils are expected to be adopted on a large scale owing to their several performance capabilities over the next few years.

Key players in the global base oil market include Royal Dutch Shell plc., Exxon Mobile Corporation, Chevron Corporation, and SK Lubricants Co. Ltd.

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.

Contact
Mr.Nachiket
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453


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Tuesday, 28 July 2015

Research Reports Base Oil Market Global Industry Analysis 2015 - 2020

According to this report, the global demand for base oil stood nearly at 36,614.3 kilo tons in 2014 and is projected to reach 39,614.7 kilo tons by 2020, expanding at a CAGR of 1.4% between 2015 and 2020.

The report also takes into account the effect of slump in the crude oil prices since July 2014 on base oil prices. According to this study, the global base oil market was valued at USD 34,514.1 million in 2014 and is anticipated to reach USD 30,973.1 million by 2020, expanding at a CAGR of 0.3% between 2015 and 2020.

Browse Base Oil Market Report with Full TOC at http://www.transparencymarketresearch.com/base-oils-lubes-market.html

The automotive industry is one of the key-end users of lubricants. With the rapidly growing global automobile sector, the demand for lubricants and base oils is likely to increase significantly in the near future. Stringent norms related to emissions are currently being implemented worldwide. These norms generally emphasize on stricter carbon dioxide emission standards and enhancements in fuel economy. The shift towards stricter emission norms and better fuel economy would entail the use of better quality lubricants. This demand for high quality environment-friendly lubricants is bringing about a change in the base oil industry. The increased demand for highly efficient base oils along with the constantly evolving lubricants formulation process are important drivers for the growth of the base oils market. However, dwindling supply of sweet crude, particularly in regions such as North America and Europe, coupled with less impurity and lower prices of sour crude is forcing refiners to change their preference from crude oil to sour crude.

Plummeting crude oil prices negatively affect the base oil revenues. With the fundamentals remaining fairly weak, it is difficult to assess whether base oil prices would stabilize at current level or further encounter obstructions on the way to recovery. According to our current estimates, oil prices and as a result, base oil prices would remain volatile and unpredictable than ever before over the next few years (particularly till 2017). The base oil demand is unlikely to improve substantially till 2016. However, rapid industrialization in emerging economies, especially in BRIC, is expected to augment the demand for lubricants across various end-user industries. Moreover, technological advances such as gas-to-liquid (GTL) technology would be one of the key opportunity areas for registering growth in the market. The lubricant base stocks produced from the GTL refining process are commonly referred to as ISO Paraffin. These have currently emerged as viable alternatives for the conventional Group III and Group IV lubricants used in the manufacture of high efficiency lubricants.

Group I base oils currently account for the largest market share globally, both in terms of production and consumption. However, Group I base oils are rapidly losing out on the global market share owing to their brisk substitution by Group II and Group III base oils. Both Group II and Group III base oils are of a higher quality and thus are capable of meeting emission norms in vehicles and conforming to the performance standards of new machineries. This shift in the consumption from Group I base oils to other high purity base oils has been observed acutely in certain regions and moderately in others. As Group I consumption gradually declines in numerous regions across the world, there is a downward pressure on prices. This significantly hampers the profit margins of Group I producers, owing to which numerous plants have resorted to shutdowns in the recent past. On the contrary, owing to the rapidly rising consumption of both Group II and Group III base oils, new production capacities for the same are being added globally. The maximum production capacity is likely to be added for Group II base oils by 2020, followed closely by Group III. No investments have been planned for the Group I base oil sector, and none are expected in the future as well.

The base oils market has been segmented on the basis of application into automotive oils, process oils, industrial oils, metalworking fluids, hydraulic oils, and others. The automotive oils segment accounted for the major market share in terms of the base oil consumption globally in 2014. The automotive industry currently prefers using high quality Group II and Group III base oils for lubricant formulation rather than Group I. A similar trend may be observed in the industrial oils segment, which increasingly prefers Group II base oils instead of Group I. It has been observed that certain grades of Group I such as SN500 could be perfectly substituted by 500N grade of Group II base oils. Owing to the numerous performance advantages offered by high quality base oils to a production line, the rate of adoption of Group II base oils during the forecast period is likely to be significantly high.


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

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.

Contact
Mr.Nachiket
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453


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