Press release
Base Oil Market | Key players operating in the market include Chevron Corp, Exxon Mobil Corp, S-OIL Corp, Motiva Enterprises LLC, SK innovation
According to recent market research "Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid), Region (North America, Europe, Asia Pacific, South America, MEA) - Global Forecast To 2025", The global Base Oil Market is projected to grow from USD 28.7 billion in 2020 to USD 36.7 billion by 2025, at a CAGR of 5.0% from 2020 to 2025. The growing demand for high-grade oils in the automotive industry and the increasing GDP in the Asia Pacific driven by increasing industrial activities are the key factors fueling the growth of the base oil market across the globe.
Browse 340 market data Tables and 55 Figures spread through 301 Pages and in-depth TOC on "Base Oil Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/base-oil-market-203695851.html
Based on group, the base oil market has been segmented into Group I, Group II, Group III, Group IV, and Group V. The Group II segment accounted for the major share of the market in 2018. Group II base oil can be employed in a multitude of applications, such as marine and gas engines, in trunk piston engine oils, and other applications in the base oil industry. The high consumption of Group II base oil is mainly attributed to its higher performance and affordability in comparison to the other groups of base oil. Thus, the Group II segment is likely to lead the market during the forecast period.
Based on application, the automotive oil segment led the base oil industry in 2018. This segment is also expected to witness significant growth during the forecast period owing to the rise of the automotive sector in developing countries, such as India and China. Population growth in the Asia Pacific region is increasing the demand for automobiles, which is, in turn, driving the market for automotive oils.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203695851
The global base oil market size is projected to grow from USD 28.7 billion in 2020 to USD 36.7 billion by 2025, at a CAGR of 5.0% from 2020 to 2025. Surging demand for high-grade oils in the automotive industry, as well as increasing GDP led by increasing industrial activities, is fueling the growth of the market across the globe.
The agreements, as well as plant expansions made by many prominent players in the base oil industry, are one of the key factors. The lucrative market opportunities in the regions of Brazil, Russia, India, and China (BRIC), as well as the rising demand for renewable energy, are expected to boost the base oil market.
Companies such as Chevron Corporation (US), Exxon Mobil Corporation (US), S-OIL CORPORATION (South Korea), Motiva Enterprises LLC (US), SK innovation Co., Ltd. (South Korea), Royal Dutch Shell Plc (Netherlands), Neste Oyj (Finland) fall under the winners' category. These are leading players in the base oil market, globally. These players have adopted the strategies of expansions, agreements, acquisitions, investments and partnerships, to increase their presence in the global base oil market.
For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203695851
Chevron Corporation is the leading player in the global fiberglass market and is estimated to have the highest share in the market. Chevron Corporation entered into a three-party collaboration with Schlumberger Limited (US) and Microsoft Corporation (US) to accelerate the creation of innovative petrotechnical and digital technologies. The involved parties in this collaboration will work together to build Azure-native applications in the DELFI cognitive E&P environment initially. The collaboration is expected to enable companies to process, visualize, interpret, and ultimately obtain meaningful insights from multiple data sources.
Another important player in the global base oil market is Exxon Mobil Corporation. In April 2019, Exxon Mobil Corporation finalized the investment decision on a multi-billion-dollar expansion of its integrated manufacturing complex in Singapore to convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates. The investment is expected to add 20,000 b/d (barrels/day) of ExxonMobil Group II base stocks, which include EHC 50 and EHC 120 grades, in addition to a new high-viscosity Group II base stock to meet increasing demand in the Asia Pacific region. The purpose of this investment is to cater to the global increase in demand for high-quality fuels and lubricants.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/base-oil.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/base-oil-market.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Browse 340 market data Tables and 55 Figures spread through 301 Pages and in-depth TOC on "Base Oil Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/base-oil-market-203695851.html
Based on group, the base oil market has been segmented into Group I, Group II, Group III, Group IV, and Group V. The Group II segment accounted for the major share of the market in 2018. Group II base oil can be employed in a multitude of applications, such as marine and gas engines, in trunk piston engine oils, and other applications in the base oil industry. The high consumption of Group II base oil is mainly attributed to its higher performance and affordability in comparison to the other groups of base oil. Thus, the Group II segment is likely to lead the market during the forecast period.
Based on application, the automotive oil segment led the base oil industry in 2018. This segment is also expected to witness significant growth during the forecast period owing to the rise of the automotive sector in developing countries, such as India and China. Population growth in the Asia Pacific region is increasing the demand for automobiles, which is, in turn, driving the market for automotive oils.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203695851
The global base oil market size is projected to grow from USD 28.7 billion in 2020 to USD 36.7 billion by 2025, at a CAGR of 5.0% from 2020 to 2025. Surging demand for high-grade oils in the automotive industry, as well as increasing GDP led by increasing industrial activities, is fueling the growth of the market across the globe.
The agreements, as well as plant expansions made by many prominent players in the base oil industry, are one of the key factors. The lucrative market opportunities in the regions of Brazil, Russia, India, and China (BRIC), as well as the rising demand for renewable energy, are expected to boost the base oil market.
Companies such as Chevron Corporation (US), Exxon Mobil Corporation (US), S-OIL CORPORATION (South Korea), Motiva Enterprises LLC (US), SK innovation Co., Ltd. (South Korea), Royal Dutch Shell Plc (Netherlands), Neste Oyj (Finland) fall under the winners' category. These are leading players in the base oil market, globally. These players have adopted the strategies of expansions, agreements, acquisitions, investments and partnerships, to increase their presence in the global base oil market.
For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203695851
Chevron Corporation is the leading player in the global fiberglass market and is estimated to have the highest share in the market. Chevron Corporation entered into a three-party collaboration with Schlumberger Limited (US) and Microsoft Corporation (US) to accelerate the creation of innovative petrotechnical and digital technologies. The involved parties in this collaboration will work together to build Azure-native applications in the DELFI cognitive E&P environment initially. The collaboration is expected to enable companies to process, visualize, interpret, and ultimately obtain meaningful insights from multiple data sources.
Another important player in the global base oil market is Exxon Mobil Corporation. In April 2019, Exxon Mobil Corporation finalized the investment decision on a multi-billion-dollar expansion of its integrated manufacturing complex in Singapore to convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates. The investment is expected to add 20,000 b/d (barrels/day) of ExxonMobil Group II base stocks, which include EHC 50 and EHC 120 grades, in addition to a new high-viscosity Group II base stock to meet increasing demand in the Asia Pacific region. The purpose of this investment is to cater to the global increase in demand for high-quality fuels and lubricants.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/base-oil.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/base-oil-market.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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