Base Oil Market Is Anticipated To Witness Growth Of Nearly 2% CAGR During The Forecast Period From Year 2022 To 2032

Chemical & Materials

Base Oil Market sizing for chemical, material and additives involves measurement of capacities, and subsequent statistical analysis thereof. We track the companies engaged in production, processing and supply of target chemical, material and additives. Once, companies / manufacturers are tracked – our team of analysts identify the production plants of tracked companies, subsequently discovering the plant capacities for Base Oil Market respective product. Since, not all production plants operate at hundred percent capacity, we use the regional and tier group wise benchmarking statistical technique to derive Base Oil Market capacity utilization coefficient.

The numerical coefficient of plant utilization rate value is mapped with actual production capacity, and thereby apparent Base Oil Market production is calculated. Similarly, apparent production of each company in one country is derived, and country level data is aggregated to deduce regional production volumes. Simultaneously, trade volume i.e. export and import of target chemical, material and additives is tracked.

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Key Segments Covered in the Base Oil Industry Survey

  • Base Oil by Grade :

    • Group I Base Oil
    • Group II Base Oil
    • Group III Base Oil
    • Group IV (PAO) Base Oil
    • Group V (ex. Naphthenics) Base Oil
    • Naphthenics Base Oil
    • Re-refined Base Oil
  • Base Oil by Application :

    • Base Oil for Automotive Fluids (Lubricant, Gear Oil, Transmission Fluid, Power Steering Fluid, Brake Fluid, Others)
    • Process Base Oils (Rubber Process Oils, Textile Process Oil)
    • Industrial Base Oils (Transformer Oil, Turbine Oil, Food Grade Oil, Others)
    • Base Oil for Metalworking Fluids (Emulsions, Neat Oils)
    • Hydraulic Base Oils (Petroleum-Based, Biodegradable)
    • Other Base Oil Applications
  • Base Oil by Region :

    • North America Base Oil Market
    • Latin America Base Oil Market
    • Europe Base Oil Market
    • Asia Pacific Base Oil Market
    • The Middle East & Africa Base Oil Market

Competitive Landscape

Prominent Base Oil providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

  • In July 2020, SWEPI LP, a subsidiary of Royal Dutch Shell has completed the sale of its Appalachia shale gas position to Seneca Resources Company, LLC and NFG Midstream Covington, LLC, each of which is a subsidiary of National Fuel Gas Company to acquire USD 541 million to invest as an asset for quality base oil production.
  • In October 2020 Indian Oil Corporation signed a pact with the Indian Institute of Science (IISS) to develop hydrogen generation technology based on biomass gasification.

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