base oil market estimated to expand at a robust cagr by 2020

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Base Oil Market Estimated to Expand at a Robust CAGR by 2020

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Global Base Oil Market

Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020

©2019 Transparency Market Research, All Rights Reserved

©2019 Transparency Market Research, All Rights Reserved

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Transparency Market Research (TMR) is a market intelligence company, providing North America business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. We have an experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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Base oil is widely used as a raw material for the production of lubricants.

The composition of base oil and its additives varies depending upon application. Rapid industrialization is one of the key factors driving the global base oil market.  

In addition to this, rise in sales of vehicles and increase in logistics and trade play a significant role in boosting the base oil market.

Growth in the global automotive sector and increase in number of manufacturing plants is anticipated to propel the global base oil market. 

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Global Base Oil Market: Overview 

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Demand of Base Oil Group ll and Group lll to Increase Owing to Stringent Environmental Regulations

The global base oil market is classified on the basis of type and application.

In terms of grade, the global base oil market is classified on the basis of group I, group II, group III, group IV, group V, re-refined, and naphthenic.

The group I segment can be further sub-segmented into SN500, BS150, SN150, SN250, and others.

Similarly, the group II segment can be sub-segmented into N600, N250, N150, N500, and others.

The group III segment can be sub-segmented 8cSt, 2cSt, 2cSt, 4cSt, and 6cSt.

The naphthenic segment has been further divided into 400-800 SUS, 80-130 SUS, 35-60 SUS, 200-300 SUS, and above 1200 SUS.

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Asia Pacific Showcases a Hopeful Future for Base Oil Market 

In terms of region, the global base oil market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.  

Among all of them, Asia Pacific held more than 40% share of the global base oil market in 2017. The region is likely to display impressive growth in the near future as well.

This is mainly because of the increasing number of end-use industries in the region.

The base oil market in North America is projected to expand at a CAGR of 0.9% from 2018 to 2026.

©2019 Transparency Market Research, All Rights Reserved

©2019 Transparency Market Research, All Rights Reserved

Some of the leading players operating in the global base oil market 

 Nynas AB

PetroChina Company Limited

ExxonMobil Corporation

GS Caltex Corporation

The Phillips 66 Company

SK Lubricants Co. Ltd

British Petroleum.

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©2019 Transparency Market Research, All Rights Reserved

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