Global Base Oil Market Analysis by Product type (Group One, Group Two, Group Three and Others), and by applications (automotive oil, industrial oil, process oil, hydraulic oils and others) and Forecast 2017-2025.
Base oil also known as lubrication grade oil which is produced by refining the crude oil or through chemical synthesis. These chemicals can be either paraffinic or napthenic in nature depending on the chemical structure of the molecules. Depending upon the source, the American Petroleum Institute (API) has categorized the base oil into five categories: The first three groups are refined using petroleum crude oil, while Group four are fully synthetic and Group five includes all other oils which is not included in group one to four.
The major factors driving the growth of the market are: growing automotive industries in the developing economies supported with technological advancement in the automotive system. Rapid development in the industrial and manufacturing sector also contributes in the development of base oil market. However, the fluctuation in the crude oil price and gradual transition towards the heavy and sour crude oil may result in hampering the market growth.
Base Oil Market
The base oil market is majorly segmented on the basis of product and applications. Depending upon the product, the market is bifurcated into: Group One, Group Two, Group Three and Others, while based on the applications, the market is segmented into: automotive oil, industrial oil, process oil, hydraulic oils and others.
The regional analysis of base oil market is analysed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Colossal growth in the automotive and industrial sector in the developing economies such as Japan, China and India has contributed in the growth of Asia Pacific market. Rising population with increasing income in the economies such as China and India has also contributed in propelling the market growth.
The major key players operating in the market are: Royal Dutch Shell plc, Chevron Corporation, Neste Oil, AVISTA OIL AG, Nynas AB, and PETRONAS, Repsol, Evonik Industries, Lotos Oil SP. Z O.O, Ergon Inc, Calumet Specialty Products Partners Lp, Exxon Mobil Corporation, Total S.A., H&R Ölwerke Schindler GmbH.
Global Base Oil Market Segmentation:By Product Type:
- Group One
- Group Two
- Group Three
- Automotive oil
- Industrial oil
- Process oil
- Hydraulic oils
- North America (U.S and Canada)
- Europe (Germany, France, Italy and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
- Rest of Europe
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of LAMEA
Research Scope:The study for Base Oil Market will provide market size, estimates and forecast based on the following years:
Historic data: 2015Base Year Estimate: 2016Forecast: 2017 to 2025
The report has been categorized in two distinctive sections, where the first category titled as Market Overview provides a holistic view of the market, key trends, drivers, challenges/restraints or opportunities with their current and expected impact on the overall industry sales.
Our analyst implement several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings.
The second section of the study provides market size, estimates and forecast for key market segments and regional market. The final part of the report highlights key manufacturers/vendors operating in the associated market.
1.1 Market Definition
1.2. Market Scope
2.1. Primary Research
2.2. Secondary Sources
2.3. Assumptions & Exclusions
3.1. Research Report Segmentation & Scope
3.2. Key Market Trend Analysis
3.2.1. Market Drivers
3.2.2. Market Restraint/Challenges
3.2.3. Market Opportunities
3.3. Porter’s Five Forces Analysis
3.4. Potential Venture Avenues
3.5. Market Share Analysis, 2016
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