The global specialties of lube oil refinery market is anticipated to grow at a CAGR of 5.7% during the forecast period. To reduce the number of lubricants required, the manufacturers in the market are investing in green lubricants which in turn creates scope for refining industries. For instance, in June 2022, Neste Corp invest in new renewable products production capacity in Rotterdam to fulfill the demand for renewable products growing substantially with customers' higher climate ambitions. Neste’s current 1.4 million ton capacity for renewable products in Rotterdam is the largest in Europe. The Rotterdam refinery expansion investment of approximately EUR 1.9 billion will expand Neste’s overall renewable product capacity by 1.3 million tons per annum, bringing the total renewable product capacity in Rotterdam to 2.7 million tons annually, of which sustainable aviation fuel (SAF) production capability will be 1.2 million tons.
Browse the full report description of “Specialties of Lube Oil Refinery Market Size, Share, and Trends Analysis Report, By Type (Fully Refined Wax, White Oil, Rubber Process Oil, Slack Wax, Semi Refined Wax, Petrolatum, and Microcrystalline Wax), By Oil Group (Group I Base, Group II Base, and Group III Base), By End-User Industry (Automotive, Pharmaceutical, Textile, Cosmetic, Food & Beverages, Packaging, and Others), Forecast Period 2022-2028” at https://www.omrglobal.com/industry-reports/specialties-of-lube-oil-refinery-market
Similarly, in March 2022, ADNOC Distribution, the UAE’s largest fuel and convenience retailer, launched a new Voyager Green Series range of lubricant products for both petrol and diesel engines, made from 100% plant-based base oil. The new products are part of ADNOC Distribution’s overall strategy to continue expanding its sustainable and environmentally friendly product range. Same as, in March 2022, ADNOC Distribution, has launched a new Voyager Green Series range of lubricant products for both petrol and diesel engines, made from 100% plant-based base oil. The new products are part of ADNOC Distribution’s strategy to continue expanding its environmentally friendly product range. On the other hand, in December, Finnish AT-Tuote launched an environmentally friendlier industrial lubricant AT Renewable Penetrating Lubricant internationally. The product is based on a new formulation: 95% of its content is derived from renewable sources.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Oil Group
o By End-User Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Arcelor Mittal, United States Steel Corp, Nippon Steel & Sumitomo Metal Corp, Tata Steel, POSCO, SSAB AB, and JFE Steel Corp, among others.
• Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Specialties of Lube Oil Refinery Market Report by Segment
Global Specialties of Lube Oil Refinery Market by Type
Semi Refined Wax
Global Specialties of Lube Oil Refinery Market by Oil
Global Specialties of Lube Oil Refinery Market by End-User Industry
Global Specialties of Lube Oil Refinery Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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