According to the report, The rise in the demand for high solvency products in several end-use industries such as automotive and metalworking
is one of the primary growth factors for the market. Increase in the adoption of hybrid and electric vehicle
is also expected to contribute significantly to the Naphthenic Base Oil market. Overall, Metalworking
applications of Naphthenic Base Oil, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models Ė a trend that will continue in the future.
AMAs Analyst on the Global Naphthenic Base Oil Market identified that the demand is rising in many different parts of the world due to "The demand from emerging economies for naphthenic base oil
". Furthermore, some recent industry insights like "On 16 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 Maseratiís hybrid engines is the first step in the two brands' commitment to work together to support Maseratiís 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 Maseratiís new Visual Identity." is constantly making the industry dynamic. One of the challenges that industry facing is "Rising Research and Development initiatives by various governments and Adoption of new technology to reduce the production cost of oil"
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Naphthenic Base Oil market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Naphthenic Base Oil market and other related sub-markets covered in the study.
o Key & emerging players in the Naphthenic Base Oil market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Naphthenic Base Oil market size is calculated using market estimation process, the Naphthenic Base Oil market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Naphthenic Base Oil market size has been validated using both top-down and bottom-up approaches.