Base Oil Market by Application: Global Opportunity Analysis and Industry Forecast, 2016-2023 – Research and Markets

DUBLIN–(BUSINESS WIRE)–The "Base
Oil Market by Application: Global Opportunity Analysis and Industry
Forecast, 2016-2023" report has been added to Research
and Markets' offering.

The global base oil market was valued at $35,430 million in 2016, and is
expected to reach $38,031 million by 2023, registering a CAGR of 1.0%
from 2017 to 2023.

Base oils are largely derived from crude oil base stocks. Group I
mineral base oil is the primarily used base oil of the industrial
lubricants business. However, the world base oil market is currently
undergoing rapid change, driven mainly by the technical demand from high
performance automotive engine oil applications, impacting all lubricant
applications.

Demand for oils in the automotive industry, especially from emerging
countries, and stringent environmental legislation leading to strict
performance standards drive the global base oil market.

However, the fluctuating costs of crude oil and regulations concerning
emission norms are expected to hamper the market growth in the future.
The global shift from Group I base oils to Group II & III present
numerous growth opportunities to market players.

The global base oil market is segmented based on type, application, and
geography.

The type segment is classified into group I, II, III, IV, and V. Based
on application, the market is divided into industrial oil, metalworking
fluids, hydraulic oil, greases, and others. By geography, it is analyzed
across North America, Europe, Asia-Pacific, and LAMEA.

Key Topics Covered:

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Market Overview

Chapter 4. Global Base Oil Market, By Type

Chapter 5. Global Base Oil Market, By Application

Chapter 6. Global Base Oil Market, By Geography

Chapter 7. Company Profiles

Companies Mentioned

• BP PLC
• Chevron Corporation
• Ergon Inc.
• Evonik Industries
• Exxon Mobil Corporation
• H&R lwerke Schindler GmbH
• Nynas AB
• Petronas
• Royal Dutch Shell PLC
• SK Lubricants Co. Ltd.
• Total S.A.

For more information about this report visit https://www.researchandmarkets.com/research/ff2zx8/base_oil_market

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Related
Topics: Oil,
Lubricants
and Greases