Base oil comprising naphthenics and Group I, II and III paraffinic base oils are varying oils with distinct properties and applications. These oils are derived by extracting and treating high-viscosity material from the vacuum gas oil’s narrow distillation cuts. It is the main element in any industrial lubricant and decides its categorisation on the basis of base oil added, such as synthetic oil, vegetable oils and mineral oil. The oils have excellent properties like oxidation, volatility, pour point, viscosity limitation, thermal stability, viscosity index, hydraulic stability, and aniline point.
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The top importers of base oil are India, Vietnam, and the United States whereas its top exporters are South Korea and Germany.
Key Details About the Base oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Base oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Base oil Price Trends, including India Base oil price, USA Base oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Base oil Price Trend:
The market demand for base oil is mainly driven by the automotive industry and its use as a component added to lubricants, engine oils, transmission and gear greases etc. it is also added to in-process oils and general lubricants used in industrial processes, which boosts its market growth furthermore, the oils work perfectly as metalworking fluids owing to their great solvency properties. In addition, base oils are not classed as fuels and are hence used as blend stock to formulate other lubricating oils that are added to engines and different sorts of machinery.
Key Players:
- Chevron Corporation
- Exxon Mobil Corporation
- Hyundai and Shell Base Oil Co.
- Petro-Canada Lubricant
- Saudi Arabian Oil Co.
News & Recent Development
- 23 June 2023- The market for Asian base oils is sluggish due to an oversupply issue and frail demand.
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