pmiFebruary 2, 2021
The report “
Global Base Oil Market, By Group (Group I, Group II, Group III, Group IV, Group V), By Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
Key Highlights:
In May 2018, Chevron Corporation entered into an agreement with Novvi, LLC (US) through one of the divisions of its subsidiary Chevron U.S.A. Inc. for the development and commercialization of renewable base oil technologies.
In February 2017, Saudi Aramco launched its base oil marketing business to supply API Group I, II, and III base stocks. The Group I oils are offered under the DURA brand name, Group II under the PRIMA name, and Group III under the ULTRA brand name. Apart from streamlining its base oil strategy, this development helped establish the company as an active supplier in the base oil market.
Impact of COVID-19 on Base Oil Market 2020 to 2030: Fact.MR
The recovery in the automotive industry will determine, to a large extent, the future course of growth for base oil industry,” says an Fact.MR analyst.
Dubai, United Arab Emirates (SBWIRE) 12/10/2020 The new report on the Base Oil market provides estimations of the size of the global market and share and size of key regional markets during the historical period of 2015 – 2019. A new Fact.MR analysis projects base oil market to grow at approximately 2% CAGR during the forecast period from year 2020 to 2030. The business intelligence study offers readers a granular assessment of key growth dynamics, promising avenues, and the competitive landscape of the Base Oil market.