HOME › Press Releases › Asia-Pacific Base Oil Market worth 25,226.5 KT by 2020
Asia-Pacific Base Oil Market worth 25,226.5 KT by 2020
The report "Asia-Pacific Base Oil Market by Type (Group I, Group II, Group III, Group IV, & Group V), by Application (Automotive, Industrial Application, & Others) - Trends & Forecast to 2020", defines and segments the Asia-Pacific base oil market with analysis and forecasting in terms of value and volume. The Asia-Pacific base oil market volume expected to grow from an estimated 21,230.2 KT in 2015 to 25,226.5 KT by 2020, with a CAGR of 3.5% between 2015 and 2020.
Browse 39 market data tables and 53 figures spread through 106 pages and in-depth TOC on “Asia-Pacific Base Oil Market by Type (Group I, Group II, Group III, Group IV, & Group V), by Application (Automotive, Industrial Application, & Others) - Trends & Forecast to 2020"
Early buyers will receive 10% customization on reports.
Asia-Pacific is the fastest growing lubricants market, at a CAGR of 3.0% between 2014 and 2019. Asia-Pacific and The Middle East & Africa regions are expected to drive the lubricants materials market. These markets together accounted for around 51.0% of the total market in 2013. The growing automotive sector and industrial production have led to an enhanced demand for lubricants. The transportation industry in these regions has a high share in the lubricants market.
The Chinese market is the largest for lubricants comprising more than 56.0% of the total Asia-Pacific market in 2013. The market in China for lubricants is estimated to grow at a high rate in the next five years due to increasing industrial activities in the country. It surpassed the top lubricants market the U.S. in the recent past and is projected to continue to dominate the lubricants market. The North American market has reached its mature stage, and hence, will register a sluggish growth.
The adoption of bio-based lubricants to reduce harmful environmental effects is the current trend in the lubricants market and is boosting the overall growth of the market. The need to enhance fuel efficiency of vehicles has led to replacement of traditional materials with synthetic lubricants. This trend also has a high influence on the overall market.
The top companies in the lubricants market include Royal Dutch Shell plc (TheNetherlands), Lukoil (Russia), Exxon Mobil Corporation (U.S.), BP plc (U.K.), Total S.A. (France) among others. The lubricants market has witnessed number of expansions and new product launches in the recent past.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 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.
M&M’s flagship competitive intelligence and market research platform, "RT" 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. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252