ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has announced the release of a report titled “Base Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” According to the report, the global market will observe meager growth in consumption of base oil, from 36,168.4 kilo tons in 2013 to 41,441.3 kilo tons by 2020. Revenue wise, the market will grow from nearly US$40,599.6 million in 2013 to US$46,724.3 million by 2020, registering a CAGR of 2.1% over the period.
The report segments the global base oil market into: types of base oils in the market, major application areas of base oils, and key regional markets for base oils across the globe.
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The market segment product types is further segmented into Group I, Group II and Group III base oils. Of these, the segment Group I, including base oil varieties such as SN500, SN150, and BS150, currently accounts for the largest share of market demands.
The segment major application areas is further segmented into industrial oils, automotive oils, metalworking fluids, hydraulic oils, and process oils. Amongst these, the application segment automotive oils accounted for the largest share of market value, nearly 45%, in 2013.
From a geographic standpoint, the report segments the global market into
regional markets of Asia-Pacific, Europe, Middle East and Africa,
Central and South America, and North America.
In 2013, the regional base oil market of Asia-Pacific led the market by acquiring nearly 39.7% shares of its market value.
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Key players in the global base oil market include Royal Dutch Shell, Chevron Corporation, SK Lubricants, and Exxon Mobile Corporation. Other major businesses in the market include MOGoil GmbH, Philips 66 Company, British Petroleum p.l.c, S-Oil Corporation, GS Caltex Corporation, Sinopec Group, and PetroChina Company Limited.
Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.