Global Naphthenic Base Oil Market Overview:
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.
- Increase in the adoption of hybrid and electric vehicle
- Rise in the R&D initiative by various government
- Availability of cheaper substitutes
- High cost of the production of the naphthenic base oil
- The demand from emerging economies for naphthenic base oil
- Increase in the technological advancements and modernization in the production techniques
- Rising Research and Development initiatives by various governments
- Adoption of new technology to reduce the production cost of oil
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.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Rahaoil, Inc. (Turkey), Indo Petro Chemical (India), Synforce Lubricants (Australia), NORTEDA (Finland), ZAHARA GROUP (Dubai) and Petro‐Canada Lubricants LLC (Canada). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Naphthenic Base Oil market by 2026.
Latest Market Insights:
On 5 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
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 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.
What Can be Explored with the Naphthenic Base Oil Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Naphthenic Base Oil Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Naphthenic Base Oil
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Naphthenic Base Oil market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Naphthenic Base Oil market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industry Associations, Government Regulatory Bodies, Crude Oil Suppliers, Electric Vehicle Manufacturer and Manufacturing firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Naphthenic Base Oil Market?
The Naphthenic Base Oil market is expected to see a CAGR of % during projected year 2019 to 2026.
2. Who are the top performing companies in Naphthenic Base Oil Market?
Top performing companies in the Global Naphthenic Base Oil market are 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), to name a few.
3. What trending factors would impact Naphthenic Base Oil Market growth most?
"The rise in the demand for high solvency products in several end-use industries such as automotive and metalworking
" is seen as one of major influencing trends for Naphthenic Base Oil Market during projected period 2019-2026.