Global Base Oil Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Base Oil Market Report by The Business Research Company covers base oil market drivers and restraints, base oil market size, major players, and the impact of covid-19 on the base oil market.
The base oil market consists of sales of base oil by entities (organizations, sole traders, and partnerships) that are produced from refining crude oil or synthetic material. It is the most commonly used lubricating oil. Base oil is classified as hydrocarbons with 18 to 40 carbon atoms that have a boiling point between 550 and 1050 F. The various products such as lubricating oils, motor oil, metal processing fluids, and others are manufactured with the help of base oils.
The global base oil market is expected to grow from $27.39 billion in 2020 to $27.95 billion in 2021 at a compound annual growth rate (CAGR) of 2.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The base oil market is expected to reach $36.64 billion in 2025 at a CAGR of 7%.
The growing automotive industry is expected to fuel the growth of the base oil market in the coming years. Advanced engine technology is driving the demand for motor oils and lubricating greases that gives compatibility to fast-moving parts and high temperatures. Moreover, engine oils that retain their viscosity, reduce engine wear to a minimum, and help assure dependability are made using high-quality base oil and best-in-class additive technology
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Some base oil market trends include launch of renewable base oil. Major companies operating in the base oil sector are focused on developing innovative and eco-friendly solutions for base oils to strengthen their position in the industry.
Global base oil market segments include:
1) By Type: Mineral, Synthetic, Bio-Based
2) By Group: Group I, Group II, Group III, Group IV, Group V
3) By Application: Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Base Oil Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports from The Business Research Company that provides base oil market overviews, analyzes and forecasts market size, share, base oil market players, base oil market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The base oil identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Base Oil Global Market Report 2021: COVID-19 Impact and Recovery To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell Plc., Ergon Inc., Neste Oyj, Nynas AB, S-OIL CORPORATION, Sepahan Oil, Repsol S.A., Sinopec Limited, BP PLC, Evonik Industries AG, H&R Group, Saudi Aramco, and SK Lubricants Co. Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Base Oil Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Base Oil Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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