Global Demand for Base Oils to reach 39,614 kilo tons by 2020 Fueled by Rapid Growth of Automotive Industry
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.
Contact
Mr.Nachiket
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
Visit : http://researcherville.blogspot.in/
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.
Get Inquiry About Report http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=288
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.
Contact
Mr.Nachiket
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
Visit : http://researcherville.blogspot.in/