Base Oil Market to Growth to 2020 Driven by Automotive Oil Segment
PUNE, India, March 4, 2016 /PRNewswire/ --
Automotive oil segment is leading the global base oil market application segments with Asia-Pacific region being a market leader in terms of consumption, geographically according to a new research report.
Complete report on global base oil market spread across 315 pages, profiling 14 companies and supported with 128 tables and 123 figures is now available at http://www.reportsnreports.com/reports/482943-base-oil-market-by-type-group-i-group-ii-group-iii-group-iv-group-v-by-application-automotive-oil-industrial-oil-metalworking-fluids-greases-hydraulic-oil-others-by-geography-global-trends-forecasts-to-2020.html .
The main reason for the growth of the global base oil market is increasing demand for finished lubricants from various industries, along with increase in the number of various end user industries. Among applications, the automotive oil segment is projected to lead the global base oil market during the forecast period, 2015 to 2020. The automotive oil application segment is expected to grow at the highest CAGR during the forecast period. The growth of this application segment can be attributed to increased demand for finished lubricant products from the automotive industry. The global base oil market is projected to reach USD 41.68 billion by 2020, at a CAGR of 0.95% between 2015 and 2020.
In terms of consumption, the Asia-Pacific region is the leader in the global base oil market and this dominance is expected to continue during the forecast period as well. The Asia-Pacific base oil market is projected to grow at the highest CAGR from 2015 to 2020. Continuously growing population and increasing income levels, coupled with strong economic growth in the emerging economies, such as India and China are the major factors fueling the growth of the base oil market in the Asia-Pacific region.
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by the key market players, such as Royal Dutch Shell plc, Chevron Corporation, Neste Oil, AVISTA OIL AG, Nynas AB, and PETRONAS, among others. Order a copy of Base Oil Market by Type (Group I, Group II, Group III, Group IV, Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluids, Greases, Hydraulic Oil, & Others), by Geography - Global Trends & Forecasts to 2020 research report at http://www.reportsnreports.com/purchase.aspx?name=482943 .
This study estimates the size of the global base oil market during the forecast period, 2015 to 2020. As a part of quantitative analysis, the study segments the global base oil market at regional level, with the current market estimation and forecast till 2020. Major regions covered in this report include Asia-Pacific, North America, Europe, and RoW. By application, the global base oil market is classified into automotive oil, industrial oil, metalworking fluids, hydraulic oil, greases, and others.
On a related note, another research on Silicone Oil Market Global Forecast to 2020 says, the global silicone oil market size is projected to reach USD 2.41 billion by 2020, registering a CAGR of 4.85% between 2015 and 2020. Asia-Pacific is the global leader in the consumption of silicone oil and this dominance is expected to continue till 2020.Comapnies like Wacker Chemie A.G., Dow Corning Corporation, Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Bluestar Silicones International, ACC Silicones, Iota Silicone Oil Co. Ltd. and KCC Basildon Chemical Company Limited have been profiled in this 154 pages research report available at http://www.reportsnreports.com/reports/473872-silicone-oil-market-by-end-use-industry-industrial-personal-care-homecare-textile-energy-automotive-transportation-agriculture-others-by-application-lubricants-water-repellants-working-media-heat-carrier-and-by-region-global-forecast-to.html .
Explore more reports on Chemicals market at http://www.reportsnreports.com/market-research/chemicals/
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