Global Naphthenic Base Oil Market to See High CAGR Growth of 5.45% by 2026

Posted by kelvindbmr on November 4th, 2019

Global naphthenic base oil market is set to witness a substantial CAGR of 5.45% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising application of naphthenic base oil and rising awareness about the benefits of naphthenic base oil are the factor for the growth of this market.

Key Market Competitors:

Few of the major competitors currently working in the global naphthenic base oil market are Nynas, Royal Dutch Shell, Calumet Specialty Products Partners, L.P., Ergon, Inc., Kowa India Pvt.Ltd, Eastern Petroleum, Petrobras, Lubricon Industries, Rahaoil, Inc, Indo Petro Chemical, Synforce Lubricants., NORTEDA., BENZOIL, ZAHARA GROUP, Petro‐Canada Lubricants LLC, Exxon Mobil Corporation, Novitas, TULSTAR PRODUCTS INC., among others.

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Naphthenic base oil is those which are processed from sweet crude oil distillates. This oil usually has low paraffin content and less aromatic content. These features enable a low point of pour on lighter viscosities and a high degree of solvency where stronger viscosities are needed. They have high solvency power due to which they respond well to antioxidants. They are widely used in application such as rubber oil, metal working, electrical oil, industrial lubes and grease and others.

Competitive Analysis:

Global naphthenic base oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of naphthenic base oil market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Segmentation: Global Naphthenic Base Oil Market

•          By Type (35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, Above 1200 SUS)
•          By Application (Metal working, Process Oil, Electrical Oil, Industrial Lubes & Grease, Rubber Oil, Others)
•          By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)

Market Drivers:

•          Increasing adoption of hybrid and electric vehicle will drive the market growth
•          Rising R&D initiative by various government will also accelerate the growth of this market
•          Growing demand for high solvency products in several end-use industries such as automotive and metal working; this factor will also enhance the market growth
•          Significant investments in the energy and power industry by several governments in the region is also acting as a market driver

Market Restraint:

•          Availability of cheaper substitutes in the market is the major factor restricting the market growth

Key Insights in the report:

•          Complete and distinct analysis of the market drivers and restraints
•          Key market players involved in this industry
•          Detailed analysis of the market segmentation
•          Competitive analysis of the key players involved

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