Materials & Chemicals Market Research News

New study: Base oil market forecast 2017-2022

Materials & Chemicals Research

Base Oil Market by Application (Industrial Oils, Automotive Oils, Process Oils, Hydraulic Oils).

GLOBAL BASE OIL MARKET Make an Inquiry about this news was valued at USD 31.8 billion in the year 2016. Global Base Oil market is further estimated to grow at a CAGR of 1.27% from 2018 to reach USD 34.74 billion by the year 2023.

Asia-Pacific region holds the highest market share in 2016 and is considered as the fastest growing market in the forecasted period. At country level, developed markets like China & India with highest population base holds the notable market share in 2016 and are projected to grow strongly in the coming years.

Chevron Corporation (US), Royal Dutch Shell plc (The Netherlands), BP PLC (UK), Exxon Mobil Corporation (US) are some of the key players in the Base Oil market with Chevron Corporation holding substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the Tier 1 and Tier 2 manufacturers in recent years.

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Drivers:

Growth of automotive industry in APAC

Rapid urbanization

Restraints:

Volatile prices of crude oil

Opportunities:

American Base Oil industry moves into Group III use

Challenges:

Often changing engine specifications

The major shares of the market comes from Land type in Global Air Defense System Market. On the other hand, Long Range Air Defense (LRAD) System, by Component for this market is expected to grow at highest CAGR during year 2018-2023.

Key Benefits for Stakeholders

Air Defense System Manufacturers, Distributors and Retailers

Research and Consulting Organization

Technology Standards Organizations, Forums, Alliances and Associations

End use industries

Regulatory bodies, policy actors and consumers.

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Between Automotive Oil, Industrial Oil and Process Oil; Automotive Oil segment is gaining popularity and because of its easy availability this segment is expected to hold the highest market share during the forecast period.

On the other hand Process Oil for this market is expected to grow at the highest CAGR of XXX during year 2017-2022.

Key Benefits for Stakeholders

Base Oil Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End use industries

Regulatory bodies, policy actors and consumers.

By Application

Industrial Oils

Automotive Oils

Process Oils

Hydraulic Oils

Others

By Product     

Group I

Group II

Group III

By Region

North America

Europe

Asia-Pacific

LAMEA

Key Market Players

       1 Chevron Corporation (US)

       2 Royal Dutch Shell plc (The Netherlands)

       3 BP p.l.c. (UK)

       4 Exxon Mobil Corporation (US)

       5 Petroliam Nasional Berhad (Malaysia)

       6 Evonik Industries (Germany)

       7 Repsol (Spain)

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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