New Research - Global Base Oil Market Size, Share, Dynamic Research, Insights, R
Posted by akshayparmar on September 25th, 2017
The worldwide base oil market was evaluated at 34515 million US dollars during year 2014 and it value is predicted to come down at the end of the estimated period. The market is predicted to be evaluated at 31860 million US dollars by the end of year 2020. The global industry is projected to expand at a CAGR growth rate of 1.46% during the estimated span.
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Base oil is the lubricant grade oil created either through crude oil refinement or chemical synthesis procedure. Based on the chemical configuration, base oil is divided into naphthenic and paraffinic. Base oil is usually derived from secondary processing unit of refinery. Today, base oil is obtained by using two methods: crude oil refining and synthesis of relative pure parts. They are mainly used in the production of lubricants. The base oil used for the formation of lubricants are vegetable based, mineral based or synthetic based.
Development and expansion of the automobile sector has led to rise in demand curve/graph for finished lubricants. Strict standards of emission all around the world has resulted in rapid transformation in procedures for lubrication formulation. In addition to this, fast industrialization in growing economies has boosted the lubricants demand from different end user sections. All these factors are predicted to propel the growth and expansion of the worldwide base oil market.
Base Oil Market by Product:
The worldwide base oil market by product includes five groups like group I, group II, group III, group IV and group V. These groups are bifurcated on the basis of the percentage of viscosity index, saturate percentage and sulfur content.
Group I is further divided into SN500, SN150, BS150 and others. Group II is also divided into 150N, 600N, 500N and others. Group III is divided into 8cSt, 2cSt, 6cSt,4cSt and others
2. Executive Summary
3. Global Base Oil Market Analysis
4. Global Base Oil Market By Product Type 2013 – 2022 (Kilo Tons, Revenue- US$)
5. Global Base Oil Market By Application 2013 – 2022 (Kilo Tons, Revenue- US$)
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