The main reason for the growth of the global base oil market is increasing demand for finished lubricants from various industries, along with increase in the number of various end user industries.
Complete report on Base Oil Market spread across 315 pages, 14 profiling companies and supported with 128 tables and 123 figures is now available at
Among applications, the automotive oil segment is projected to lead the global base oil market during the forecast period, 2015 to 2020. The automotive oil application segment is expected to grow at the highest CAGR during the forecast period. The growth of this application segment can be attributed to increased demand for finished lubricant products from the automotive industry.
In terms of consumption, the Asia-Pacific region is the leader in the global base oil market and this dominance is expected to continue during the forecast period as well. The Asia-Pacific base oil market is projected to grow at the highest CAGR from 2015 to 2020. Continuously growing population and increasing income levels, coupled with strong economic growth in the emerging economies, such as India and China are the major factors fueling the growth of the base oil market in the Asia-Pacific region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given here Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for interviews. The interviews were conducted with various key people such as C-Level (35%) and Director Level (25%) and others (40%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%) and RoW (5%).
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by the key market players, such as Royal Dutch Shell plc, Chevron Corporation, Neste Oil, AVISTA OIL AG, Nynas AB, and PETRONAS, among others.
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The report offers market estimations and projections till 2020 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
On a related note, another research titled with Compressor Oil Market by Compressor Type (Positive Displacement and Dynamic), Base Oil Type (Synthetic, Semi-Synthetic, Mineral and Bio-based), End-Use Industry (Manufacturing, Oil & Gas, Power, and Automotive) & by Region - Global Forecast to 2021. Now available at http://www.marketreportshub.com/compressor-oil-industry-research-2021-marketsandmarkets.html .
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