DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/2qhvrp/base_oil_market) has announced the addition of the "Base Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
The key products of base oils considered are Group I, Group II, Group III, and others. Group I base oils accounted for the major market share in 2013 and is expected to remain dominant throughout the forecast period. It is estimated that Group I base oils will show a reducing consumption trend in both North America and Europe. Substitution of Group I by higher quality Group II and Group III base oils will be primary reason to the reduction in demand for Group I base oils.
However, certain important grades of Group I such as Bright Stock are likely to retain their popularity in the market. This grade of base oils is likely to grow in regions such as Asia Pacific, the Middle East, and South America. Increasing preference of Group II and Group III base oils by both the automotive and industrial oil segments will drive growth in these segments in the near future.
Automotive oils accounted for the major application share of the global base oils market in 2013. This segment is anticipated to remain dominant throughout the forecast period. The global automotive lubricants sector has been witnessing a change in preference with respect to base oils used in blending plants.
The sector has been gradually migrating toward high performance base oils (Group II and Group III). Currently, Group III base oils are emerging as the most preferred base stock in the manufacture of finished lubricants for the automotive sector across the globe. With tightening emission standards, the demand for high quality lubricants is likely to grow several times over during the forecast period. To cater to this increasing demand for high quality finished automotive lubricants, there is likely to be an increasing consumption of Group II and Group III base oils in the near future.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global Base Oil Market - Industry Analysis
Chapter 4 Global Base Oil Market - Product Segment Analysis
Chapter 5 Global Base Oil Market - Application Segment Analysis
Chapter 6 Global Base Oil Market - Regional Analysis
Chapter 7 Company Profiles
- British Petroleum p.l.c
- Chevron Corporation
- China Petroleum Corporation (Sinopec Group)
- Exxon Mobil Corporation
- GS Caltex Corporation
- MOGoil GmbH
- PetroChina Company Limited
- Philips 66 Company
- Royal Dutch Shell Plc
- S-Oil Corporation
- SK Lubricants
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