Chevron Corporation (US) and Exxon Mobil Corporation (US) are Leading Players in the Base Oil Market

 Breaking News
  • No posts were found

Chevron Corporation (US) and Exxon Mobil Corporation (US) are Leading Players in the Base Oil Market

July 09
06:40 2020
Chevron Corporation (US) and Exxon Mobil Corporation (US) are Leading Players in the Base Oil Market

Browse 150 market data Tables and 110 Figures spread through 480 Pages and in-depth TOC on “Base Oil Market”
Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid), Region (North America, Europe, Asia Pacific, South America, MEA)

The base oil market is projected to grow from USD 33.7 billion in 2019 to USD 39.6 billion by 2024, at a CAGR of 3.3% from 2019 to 2024. The growing demand for high-grade oils in the automotive industry is driving market growth. Agreements, as well as plant and distribution channel expansions made by many prominent players, have also contributed to the growth of the base oil market across the globe.

Among regions, the Asia Pacific base oil market is projected to register the highest CAGR from 2019 to 2024. India, China, Indonesia, and Japan are key countries contributing to the increased demand for lubricants, and in effect base oil, in this region. Increasing GDP led by the rising industrial activities in Asia Pacific has increased the demand for base oil in the region. The growth of transportation, power generation, mining, and other sectors is also responsible for the rise in demand for base oil in the Asia Pacific region.

To know about the assumptions considered for the study download the pdf brochure

Chevron Corporation (US), Exxon Mobil Corporation (US), S-OIL Corporation (South Korea), Motiva Enterprises LLC (US), SK innovation Co., Ltd. (South Korea), Royal Dutch Shell plc (Netherlands), Neste Oyj (Finland), AVISTA OIL AG (Germany), Nynas AB (Sweden), Repsol S.A. (Spain), Ergon, Inc. (US), Calumet Specialty Products Partners, L.P. (US), H&R Group (Germany), Sinopec Corp. (China), PetroChina Company Limited (China), Saudi Aramco (Saudi Arabia), Abu Dhabi National Oil Company (ADNOC) (UAE), PT Pertamina (Persero) (Indonesia), Phillips 66 (US), Petroliam Nasional Berhad (PETRONAS) (Malaysia), GRUPA LOTOS S.A. (Poland), Sepahan Oil (Iran), GS Caltex Corporation (South Korea), and Hindustan Petroleum Corporation Limited or HPCL (India) are some of the leading players operating in the base oil market. These players have adopted the strategies of agreements, expansions, new product launches, acquisitions, collaborations, contracts, investments, and divestments to enhance their position in the market.

In April 2018, Exxon Mobil Corporation entered into a new distributor agreement with Zestcor (South Africa), an experienced sales, procurement, and supply chain management company. The agreement aided Exxon Mobil Corporation in offering an efficient and reliable supply of high-quality base stocks in South Africa and the sub-Saharan region.

In November 2017, Motiva Enterprises LLC enhanced its Motiva STAR Base Oils portfolio by introducing Group III premium base oil products—STAR HVI 4 and STAR HVI 6. This enhancement helped the company broaden its product portfolio and strengthen its position as one of the leading base oil suppliers in the US.

Request for sample report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=203695851

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/base-oil-market-203695851.html