Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The White Oil Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global market for white oil will grow at a CAGR of 5.9% (approx.) by 2026
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Top Leading Companies of Global White Oil Market are Unicorn Petroleum, Paraffin Oils, SK, Sonneborn, Savita, Lubline, Zhonghai Nanlian, Shell, FUCHS, Calumet Specialty Products Partners, Suncor Energy, TOTAL, ExxonMobil, Asian Oil Company, Chevron and others.
Industry News and Updates:
S.Korea's SK Innovation hires Citi for possible SK Lubricants sale
August 13, 2020 — SEOUL: South Korea's SK Innovation said on Thursday it has hired Citigroup Global Markets Inc to explore the possibility of selling its subsidiary SK Lubricants. SK Innovation, owner of the country's biggest oil refiner SK Energy and electric vehicle (EV) battery maker, said it is in the early stage of talks to review the process.
"We are currently reviewing various strategic options to secure financial health and finance our new businesses, but we have not yet decided whether to sell SK Lubricants or how much of a stake we will sell," an official at SK Innovation told Reuters.
SK Lubricants, wholly owned by SK Innovation, produces base oil and finished lubricant products. It could be valued between 3 trillion won ($2.53 billion) and 4 trillion won, Korea Economic Daily reported. In July, SK Innovation reported a second-quarter operating loss of 440 billion won ($367 million), taking its first-half losses to 2.2 trillion won. A year earlier, it posted an operating profit of 494 billion won in the second quarter.
Korea's SK readies output cuts as crude cargoes back up
SK Innovation, South Korea's largest refiner, will likely need to further reduce the operating rate of its 840,000 b/d Ulsan complex because the impact of the Covid-19 pandemic on oil products exports will be felt more fully this summer.
The operating rate may have to be cut to around 60-70pc of capacity in June-July, said SK, which has pared crude runs to 85pc since the beginning of March because of slumping fuel demand. The company said the plant's residual oil crackers have been throttled back to a reduced operating rate for the first time in three decades for a reason other than maintenance or repairs. SK sees the crackers slowing to about a 70pc operating rate by June.
SK has run out of space to store the crude shipments that it is obligated to receive under long-term supply contracts, with demand for jet fuel, gasoline and other products slumping as the pandemic stalls economies around the globe. Its storage tanks in Ulsan are full to the brim, holding about 12mn bl, and a recent agreement to lease 1.8mn bl of storage capacity from state-run oil company KNOC in Daesan, southwest of Seoul, has done little to ease the pressure.
FUCHS acquires Chevron's white oils and food machinery lubricants business
Germany's FUCHS PETROLUB is acquiring Chevron's global white oils and food machinery specialty lubricants business. The business will be integrated into FUCHS Lubricants Co. (USA). This Chevron business had sales of EUR 11 million (USD 12.63 million) in 2015, approximately 85% of which are in North America.
"Food Grade customers require support in the areas of food safety, preventative maintenance and lubricant technology. FUCHS has developed a successful program around the CASSIDA brand and complementary services," said Steve Puffpaff, CEO of FUCHS Lubricants Co.
"The acquisition and new marketer partnerships will significantly improve the scale for support for food grade lubricant customers," he said.
"We believe this change will benefit our customers and marketers as FUCHS is a leader in these specialty segments and can meet their needs with an expanded food machinery product line," said Brian Stripling, general manager Brand, Technology & Original Equipment Manufacturer (OEM), Chevron Products Company, a division of Chevron U.S.A. Inc.
On The Basis Of Product, The White Oil Market Is Primarily Split Into
On The Basis Of End Users/Application, This Report Covers
Pharmaceutical and Cosmetics
This report focuses on White Oil volume and value at the global level, regional level and company level. From a global perspective, this report represents overall White Oil market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan etc. This allows understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences, and the vendor landscape of the overall market.
Furthermore, this study will help our clients solve the following issues:
Cyclical dynamics - We foresee dynamics of industries by using core analytical and unconventional market research approaches. Our clients use insights provided by us to maneuver themselves through market uncertainties and interferences.
Identifying key cannibalizes - Strong substitute of a product or service is the most important threat. Our clients can identify key cannibalizes of a market, by procuring our research. This helps them in aligning their new product development/launch strategies in advance.
Spotting emerging trends – The report help clients to spot upcoming hot market trends. We also track possible impact and disruptions which a market would witness by a particular emerging trend. Our proactive analysis helps clients to have early mover advantage.
Interrelated opportunities - This report will allow clients to make decisions based on data, thereby increasing the chances that the strategies will perform better if not best in real world.
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Following are major Table of Content of White Oil Industry:
- White Oil Market Sales Overview.
- White Oil Market Sales Competition by Manufacturers.
- White Oil Market Sales Analysis by Region.
- White Oil Market Sales Analysis by Type.
- White Oil Market Analysis by Application.
- White Oil Market -Manufacturers Analysis.
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