The "Naphthenic Base Oil - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Naphthenic base Oil Market accounted for $1,913.24 million in 2019 and is expected to reach $3,412.22 million by 2027, growing at a CAGR of 7.5% during the forecast period.
Increasing adoption of hybrid and electric vehicle, growing demand for high solvency products in several end-use industries, and rising R&D initiative by the government are some of the factors propelling the growth of the market. However, the availability of cheaper substitutes is hampering the growth of the market.
The naphthenic base oil is those which are processed from sweet crude oil distillates. These features enable a low point of pour on lighter viscosities and a high degree of solvency where stronger viscosities are needed. Naphthenic base oils also provide better low-temperature performance than paraffinic oils, which makes them ideal for formulating hydraulic fluids and automatic transmission fluids.
Based on the application, the process oil segment is anticipated to hold considerable market share during the forecast period due to the increasing demand for greener tire formulation that provides lower rolling resistance, lower fuel consumption, and lower carbon dioxide emissions. By geography, North America is expected to grow at a significant market share during the forecast period owing to the growth in the consumption of this oil, increase in adoption of hybrid vehicles in concern to environmental hazards and presence of the prominent key players in the region.
W.S. Dodge Oil Co. Inc.
UniSource Energy, Inc.
SAC Petrobras SA
Royal Dutch Shell Plc (Shell)
PetroChina Company Limited
Michang Oil industrial Co. Ltd.
Gulf Petrochem FZC
Calumet Specialty Products Partners, L.P
Apar Industries Ltd.
Resolute Oil, LLC
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered:
1 Executive Summary
3 Market Trend Analysis
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of COVID-19
4 Porters Five Forces Analysis
4.1 Bargaining Power of Suppliers
4.2 Bargaining Power of Buyers
4.3 Threat of Substitutes
4.4 Threat of New Entrants
4.5 Competitive Rivalry
5 Global Naphthenic Base Oil Market, By Viscosity Index
5.2 35-60 SUS
5.3 80-130 SUS
5.4 200-300 SUS
5.5 400-800 SUS
5.6 Above 1200 SUS
6 Global Naphthenic Base Oil Market, By Application
6.2 Rubber Oil
6.3 Process Oil
6.4 Metal Working
6.5 Industrial Lubes & Grease
6.6 Electrical Oil
7 Global Naphthenic Base Oil Market, By Geography
7.2 North America
7.3.6 Rest of Europe
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia-Pacific
7.5 South America
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launches
8.5 Other Key Strategies
9 Company Profiling
For more information about this report visit https://www.researchandmarkets.com/r/ly6u1l
View source version on businesswire.com: https://www.businesswire.com/news/home/20201020005669/en/
Laura Wood, Senior Press Manager
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