Base Oil Market Estimated to Expand at a Robust CAGR by 2020 (1)

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Global Base Oil Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2020

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Global Base Oil Market Overview 

• Base oil is widely used as a raw material for the
  production of lubricants.
• The composition of base oil and its additives
  varies depending upon application. Rapid
  industrialization is one of the key factors
  driving the global base oil market.  
• In addition to this, rise in sales of vehicles
  and increase in logistics and trade play a
  significant role in boosting the base oil market.
  
• Growth in the global automotive sector and
  increase in number of manufacturing plants is
  anticipated to propel the global base oil
  market. 

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Demand of Base Oil Group ll and Group lll to
Increase Owing to Stringent Environmental
Regulations

• The global base oil market is classified on the
  basis of type and application.
• In terms of grade, the global base oil market is
  classified on the basis of group I, group II,
  group III, group IV, group V, re-refined, and
  naphthenic.
• The group I segment can be further sub-segmented
  into SN500, BS150, SN150, SN250, and others.
• Similarly, the group II segment can be
  sub-segmented into N600, N250, N150, N500, and
  others.
• The group III segment can be sub-segmented 8cSt,
  2cSt, 2cSt, 4cSt, and 6cSt.
• The naphthenic segment has been further divided
  into 400-800 SUS, 80-130 SUS, 35-60 SUS, 200-300
  SUS, and above 1200 SUS.

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Asia Pacific Showcases a Hopeful Future for Base
Oil Market 

• In terms of region, the global base oil market
  has been divided into North America, Europe, Asia
  Pacific, Middle East Africa, and Latin America.
   
• Among all of them, Asia Pacific held more than
  40 share of the global base oil market in 2017.
  The region is likely to display impressive growth
  in the near future as well.
• This is mainly because of the increasing number
  of end-use industries in the region.
• The base oil market in North America is projected
  to expand at a CAGR of 0.9 from 2018 to 2026.

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Some of the leading players operating in the
global base oil market 

•  Nynas AB
• PetroChina Company Limited
• ExxonMobil Corporation
• GS Caltex Corporation
• The Phillips 66 Company
• SK Lubricants Co. Ltd
• British Petroleum.

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