Naphthenic Base Oil Market Steady Growth in Near Future at CAGR of 5.3% during 2017 - 2025.
Albany, NY -- (SBWIRE) -- 12/20/2017 -- The global naphthenic base oil market is rising moderately in the recent years and going forward it is likely to progress this way. The growth of the naphthenic base oil market is primarily attributed to the favorable physical properties of naphthenic base oil that makes it ideal for several formulations such as for gear oil, process oil, plasticizers, adhesives & sealants, and oil expender polymers. These end products are further used in various end-use industries such as automotive and industrial applications.
The rising adoption of electric and hybrid vehicles to reduce carbon emissions, which is stoking demand for electrical oil and process oil is indirectly benefitting the global naphthenic base oil market. Further, substantial research initiatives for enhanced product performance and to introduce new products is also boosting the growth of naphthenic base oil market.
As per a report by Transparency Market Research (TMR), the global naphthenic base oil market is projected to become worth US$2,605.7 mn by 2025 end increasing from US$1,640.4 mn in 2016 at a CAGR of 5.3% during the forecast period from 2016 to 2025.
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Global Naphthenic Base Oil Market: Overview
Naphthenic base oil is hydro-treated group V base oil obtained through distillation of sweet crude. They possess low pour point, low wax content, and excellent swell properties. Naphthenic base oils also provide better low-temperature performance than paraffinic oils, which makes them ideal for formulating hydraulic fluids and automatic transmission fluids. Naphthenic oils respond well to antioxidants and additives due to high solvency power.
Global Naphthenic Base Oil Market: Scope of Study
The report estimates and forecasts the naphthenic base oil market on the global, regional, and country levels. The study provides forecast between 2017 and 2025 based on volume (Kilo Tons) and revenue (US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the naphthenic base oil market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the naphthenic base oil market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes global average price trend analysis of naphthenic base oil.
The report includes Porter's Five Forces Model to determine the degree of competition in the naphthenic base oil market. The report comprises a qualitative write-up on market attractiveness analysis, wherein application and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for naphthenic base oil between 2016 and 2025.
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The study provides a comprehensive view of the naphthenic base oil market by dividing it into following types: by viscosity index, by application, and by geography. The naphthenic base oil market based on viscosity index type has been segmented into 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, and above 1200 SUS. Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated in terms of volume (Kilo Tons) and revenue (US$ Mn) between 2016 and 2025.
Global Naphthenic Base Oil Market: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players' product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team's expertise and market understanding.
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Global Naphthenic Base Oil Market: Market Segmentation
Regional segmentation includes the current and forecast demand for naphthenic base oil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for application and viscosity index type segments. Key countries such as the U.S., Germany, Russia, the U.K., India, China, South Korea, Japan, South Africa, Mexico, and Brazil have been included in the study. Market segmentation includes demand for individual application and products in all the regions and countries.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Nynas AB, Royal Dutch Shell Plc., Calumet Specialty Products Partners, L.P, Ergon LLC., and Chevron Corporation. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
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The global naphthenic base oil market has been segmented as follows:
Naphthenic Base Oil Market – Viscosity Index Type Analysis
Above 1200 SUS
Naphthenic Base Oil Market – Application Type Analysis
Industrial Lubes & Grease
Naphthenic Base Oil Market – Regional Analysis
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America