The global demand for the paraffinic base oil market in 2019 is approximately USD 12,200 and is anticipated to reach around USD 13,600 by 2026. The anticipated CAGR for the paraffinic base oil market is around 1.5% from 2020 to 2026.
This professional and specialized report study examines the technical and business perspective of the paraffinic base oil industry. The report provides a historical analysis of the industry as well as the projected trends expected to be witnessed in the paraffinic base oil market. The report study analyzes the market statistics at the global as well as the regional levels to gain an in-depth perspective of the overall paraffinic base oil market. The historical insights are provided from 2016 to 2019 and projected trends are provided from 2020 to 2026. The quantitative data is provided in terms of both volume (Kilo Tons) and value (USD Million) for 2016 – 2026. The qualitative data is reinforced by analyzing and providing numerous market dynamics (directly or indirectly affecting the industry) such as growth drivers, restraints, challenges, and opportunities.
We have included various industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the paraffinic base oil market in our study.
Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies adopted by various stakeholders involved in the entire value chain of the paraffinic base oil market. It also encompasses PESTLE analysis and SWOT analysis.
The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the paraffinic base oil market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the paraffinic base oil market.
The research study provides a critical assessment of the paraffinic base oil industry by logically segmenting the market on the basis of Type, Application, and regions. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026. The regional segmentation of the paraffinic base oil industry includes the holistic bifurcation of all the five major continents including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The growth in the automobile and logistics industry and the rising number of vehicles are among the major factors driving the global paraffinic base oils market. Additionally, the government is increasingly investing in the automotive sector which is further projected to boost the consumption of paraffinic base oils in various applications in the automotive industry.
The paraffinic base oil market is segmented based on Type and Application. On the basis of type segmentation, the market is classified into semi refined paraffin wax oil, fully refined paraffin wax oil, and others. In terms of application segmentation, the market is bifurcated into kerosene, diesel, solvent oil, lubricating oil, commodity paraffin, and others.
Some of the essential players operating in the paraffinic base oil market, but not restricted to include ExxonMobil, PetroChina Company Limited, Shell, Chevron, Kuwait Petroleum, Corp., Gandhar Oil Refinery India, Saudi Aramco, Gazprom, National Iranian Oil Company, BP, and Pemex among others.
The taxonomy of the paraffinic base oil industry by its scope and segmentation is as follows:
Global Paraffinic Base Oil Market: By Type Segment Analysis
Global Paraffinic Base Oil Market: By Application Segment Analysis
Global Paraffinic Base Oil Market: Regional Segment Analysis
KEY BUSINESS POINTERS ADDRESSED & FOREMOST REASONS TO PROCURE THE REPORT:
Key Insights from Primary Research
Key Recommendations from Analysts