The Naphthenic Base Oil Global Market Report 2023, provides comprehensive information on the naphthenic base oil market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Naphthenic Base Oil Global Market Report 2023, the global naphthenic base oil market size is expected to grow from $2.20 billion in 2022 to $2.32 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global naphthenic base oil market size is expected to reach $2.80 billion in 2027 at a CAGR of 4.8%.
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Technological advancements are a key trend gaining popularity in the naphthenic base oil market going forward. Major companies operating in the naphthenic base oil market are developing innovative technologies to strengthen their position in the market. For instance, in October 2022, Nynas AB, a Sweden-based manufacturer of specialty naphthenic oils, launched NYTRO® RR 900X, a fluid designed for circular transformers that uses the most potent and efficient re-refining technology. The company gives utilities and OEMs the chance to participate in the circular economy and help meet greenhouse gas reduction goals with the introduction of the NYTRO RR 900X. Making the most of the fluid’s initial production impact, the Nynas re-refining process recovers precious molecules that are no longer useful in their current state. The well-known dielectric behavior of conventional naphthenic dielectric fluids is preserved in NYTRO RR 900X. Nynas’ cutting-edge, optimized hydro-treating process has allowed the business to provide products with top-tier qualities that are on par with virgin oils.
The naphthenic base oil market is segmented:
- By Viscosity Index: 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, Above 800 SUS
2) By Application: Metal Working, Process Oil, Electrical Oil, Industrial Lubes And Grease, Rubber Oil, Other Applications
3) By End-User: Automotive Industry, Aerospace Industry, Marine Industry, Energy Industry, Oil and Gas Industry, Textile Industry, Other End Users
Asia-Pacific was the largest region in the naphthenic base oil market in 2022.
The table of contents in TBRC’s naphthenic base oil market report includes:
- Executive Summary
- Naphthenic Base Oil Market Characteristics
- Naphthenic Base Oil Market Trends And Strategies
- Naphthenic Base Oil Market – Macro Economic Scenario
- Naphthenic Base Oil Market Size And Growth
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- Africa Naphthenic Base Oil Market
- Naphthenic Base Oil Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Naphthenic Base Oil Market
- Naphthenic Base Oil Market Future Outlook and Potential Analysis
- Appendix
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