Industry Background:
Unrefined petroleum is separated from the bedrock prior to being prepared in a few phases, eliminating natural contaminants and unfortunate hydrocarbons. This separation interaction produces mineral oil, which can thus be meant as paraffinic, naphthenic, or fragrant. The contrasts between these various sorts of oils are not satisfactory cut, however basically rely upon the transcendent hydrocarbon types in the oil. Paraffinic oil, for example, contains fundamentally higher alkanes, though naphthenic oils have a high portion of cyclic alkanes in the blend. They have high solvency power due to which they respond well to antioxidants. They are widely used in applications such as rubber oil, metalworking, electrical oil, industrial lubes and grease, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Nynas (Sweden), Royal Dutch Shell (Netherlands), Exxon Mobil Corporation (United States), TELSTAR PRODUCTS INC (United States), Calumet Specialty Products Partners (United States), Ergon, Inc. (United States), Kowa India Pvt. Ltd (India), Eastern Petroleum (India), Petrobras (Brazil) and Lubricon Industries (Australia) |
According to AMA, the market for Naphthenic Base Oil is expected to register a CAGR of 6.6% during the forecast period to 2030. This growth is primarily driven by Increase in the adoption of hybrid and electric vehicle and Rise in the R&D initiative by various government.
Globally, a noticeable market trend is evident The rise in the demand for high solvency products in several end-use industries such as automotive and metalworking
Major Manufacturers, such as Nynas (Sweden), Royal Dutch Shell (Netherlands), Exxon Mobil Corporation (United States), TELSTAR PRODUCTS INC (United States), Calumet Specialty Products Partners (United States), Ergon, Inc. (United States), Kowa India Pvt. Ltd (India), Eastern Petroleum (India), Petrobras (Brazil) and Lubricon Industries (Australia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The leading organizations in the market make significant investments in the energy and power sector in order to benefit the naphthenic base oil market. Also, companies are making new strategic partnerships, collaborations, and acquisitions in order to bring combined technology and avail competitive advantage.
Key Developments in the Market:
In October 2020, Chevron Corporation announced that its acquisition of Noble Energy, Inc. has been completed following approval by Noble Energy shareholders. The combination is expected to deliver strong financial benefits
In March 2021, Shell and Maserati have extended their long-standing technical and commercial collaboration with the launch of the new Shell Helix Ultra Hybrid 0W-30 oil for Maserati hybrid engines. This new product will be available in Europe and Asia from official Maserati dealerships. The launch of this new co-branded motor oil for Maserati’s hybrid engines is the first step in the two brands' commitment to work together to support Maserati’s electrification strategy. With the launch of the new hybrid engine product, the labels of the whole co-branded Maserati and Shell Helix Ultra engine oils product range have been completely redesigned with new premium features that embed and support Maserati’s new Visual Identity.
Influencing Trend:
The rise in the demand for high solvency products in several end-use industries such as automotive and metalworking and Increase in significant investments in the energy and power industry by several governments
Market Growth Drivers:
Increase in the adoption of hybrid and electric vehicle and Rise in the R&D initiative by various government
Challenges:
Rising Research and Development initiatives by various governments and Adoption of new technology to reduce the production cost of oil
Restraints:
Availability of cheaper substitutes and High cost of the production of the naphthenic base oil
Opportunities:
The demand from emerging economies for naphthenic base oil and Increase in the technological advancements and modernization in the production techniques
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Naphthenic Base Oil Market
- Analysis about New Entrants in Naphthenic Base Oil Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Naphthenic Base Oil Study Sheds Light on
The Naphthenic Base Oil Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Naphthenic Base Oil industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Naphthenic Base Oil industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.