In accordance with this study, the Global Base Oil Market value registered in 2019 was close to USD XX BN and is predicted to outstretch revenue by USD XX BN in 2026 with a CAGR of XX% during the period of 2020-2026.
Base oil is produced by refining crude oil. It is used to manufacture products including lubricating greases, motor oils, and metal processing fluids. Some chemical substances and additives are added to the base oil to meet the quality requirements for the end products, e.g. friction and cleaning properties.
The rising demand for base oil from automotive industry owing to its use in manufacturing lubricating greases in motors is primarily driving the market growth. Moreover, growing industrialization along with increasing demand in industrial machinery that requires a substantial amount of lubricants for reducing friction is again pushing the market growth. On the other hand, fluctuation in crude oil prices could challenge the market growth.
The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of base oil.
The study offers a decisive view of the global base oil market by segmenting it in terms of type and application. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
- Group I
- Group II
- Group III
- Group IV
- Group V
- Automotive Oil
- Industrial Oil
- Metalworking Fluids
This section covers base oil market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global base oil market along with the individual application segment across all the prominent region.
Global Base Oil Market Share by Region (Representative Graph)
This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global base oil market are BP PLC, Chevron Corporation, Ergon Inc., Evonik Industries AG, Exxon Mobil Corporation, H&R Ölwerke Schindler GmbH, Nynas AB, Petronas Pvt. Ltd., Royal Dutch Shell PLC, SK Lubricants Co. Ltd., Total S.A., and others. This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.
The projections featured in the report have been derived by using primary and secondary research. Secondary research has been carried out by using various sources which include (but not limited to) Corporate Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different trade publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.