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IndustryARC
GLOBAL TURBINE OIL MARKET (2014 – 2020)
By Type (Paraffinic, Naphthenic, Aromatic, Engine, Motor, Hydraulic, Automotive and Others); By Application (Gear, Turbochargers, Marine Engines, Refrigeration systems, Hydraulic systems, Power Generation and Others) and By Geography
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Table of Contents 1. Global Turbine Oils – Market Overview 2. Executive Summary 3. Global Turbine oils – Market Landscape 3.1. Market Share Analysis 3.2. Comparative Analysis 3.2.1.
Product Benchmarking
3.2.2.
End user profiling
3.2.3.
Top 5 Financials Analysis
4. Global Turbine oils – Market Forces 4.1. Market Drivers 4.2. Market Constraints 4.3. Market Challenges 4.4. Attractiveness of Global Turbine oils Market 4.4.1.
Power of Suppliers
4.4.2.
Power of Customers
4.4.3.
Threat of New entrants
4.4.4.
Threat of Substitution
4.4.5.
Degree of Competition
5. Global Turbine oils Market – Strategic Analysis 5.1. Value Chain Analysis 5.2. Pricing Analysis 5.3. Opportunities Analysis 5.4. Product/Market Life Cycle Analysis 5.5. Suppliers and Distributors
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6. Global Turbine oils Market – By Type 6.1. Mineral Lubricants 6.1.1. Paraffinic oils 6.1.2. Naphthenic oils 6.1.3. Aromatic oils 6.2. Synthetic Lubricants 6.2.1 Engine oils 6.2.2. Motor oils 6.3. Bio-Based Lubricants 6.3.1. Automotive oils 6.3.2. Hydraulic oils 6.3.3. Process oils 6.3.4. Crankcase oils 6.3.5. Metal working oils 7. Global Turbine oils Market – By Application 7.1. Marine Engines 7.2. Stern tubes 7.3. Turbochargers 7.4. Air Compressors & vacuum pumps 7.5. Gear applications 7.6. Hydraulic systems 7.7. Refrigeration systems 7.8. Grease applications 7.9. Automotive Manufacturing 7.10. Power generation
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7.11. Fire resistant’s 8. Global Turbine oils Market – By Geography 8.1. Introduction 8.2
Americas 8.1.1. North America 8.1.2. United States 8.1.3. Canada 8.1.4. Mexico
8.2.
Europe 8.2.1. UK 8.2.2. Spain 8.2.3. Germany
8.3.
APAC 8.3.1. China 8.3.2. India 8.3.3. Japan 8.3.4. Australia
8.4.
ROW
9. Market Entropy 9.1.
New Product Launches
9.2.
M&As, Collaborations, JVs and Partnerships
10. Investment Opportunities – Analysis by Target companies/customers, Capital Investments, ROI, Payback Period and Source of Funds. 11. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio) 11.1.Intertek 11.2. Chongqing Zhongneng Oil purifier Manufacture Co.
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11.3. Cargill Incorporated 11.4. Lubrication Engineers, Inc. 11.5. ConocoPhillips Company 11.6. The TR3 Co., Inc. 11.7. British Petroleum Plc 11.8. Binol Biolubricants 11.9. Moore & Balliew Oil Co., Inc. 11.10. InterOil Corporation 11.11. Miller Industrial Fluids, LLC 11.12. Chevron 11.13. Hindustan Petroleum Corporation Limited 11.14. Purified Lubricants, Inc. 11.15. Hightowers Petroleum Co. 11.16. OAO Lukoil 11.17. Fuchs Lubricants Co. 11.18. Royal Dutch Shell Plc 11.19. Lubricating Specialties Company 11.20. Lubrizol Corporation 12. Appendix 12.1.Abbreviations 12.2.Sources 12.3.Research Methodology 12.4.Bibliography 12.5.Compilation of Expert Insights 12.6.Disclaimer
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1. GLOBAL TURBINE OIL – MARKET OVERVIEW 1.1.
SCOPE
“Turbine Oil” was primarily designed for the use of turbines. It was initially a high quality, straight mineral oil with good water separating qualities. Global Turbine Oil is a range of premium Quality turbine oil, blended from highly refined turbine quality paraffin base stocks. The turbine oil was kept clean to remove oxidation products and outside contamination. It has gradually evolved into rust and oxidation inhibited oil, which gives long service life with the use of conventional filters rather than the activated earth type. The study includes the demand of this particular market on a global and regional scale for a six year period of 2014-2020, both in terms of volume(kilo tons) and revenue($ million). This study gives detailed information about the product value chain right from the beginning which includes raw materials till end-use. The market is evaluated based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants. Among a wide range of manufacturers which contribute to mining chemicals market, some major players dominating the Global Turbine oil Industry are Binol Biolubricants, Cargill Incorporated. ConocoPhillips Company, British Petroleum Plc, Chevron, Exxon Mobil Corporation (XOM), Hindustan Petroleum Corporation Ltd. OAO Lukoil, Interoil Corporation and The Lubrizol Corporation. They give profound data about the company overview, financial overview, business strategies, SWOT analysis and recent developments. Turbine Oil provides excellent protection against rust and corrosion, control of foam, air release properties and has good demulsibility in the presence of water.
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1.2. STAKEHOLDERS The following are the key stakeholders in the Global Turbine Oil Market: Manufacturers of turbines Turbine Oil, Lubricants Manufacturers Users of turbines Power Plants Instrumentation and Automation Service providers Distributors Oil & Gas exploration firms Regulatory Institution.
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2. EXECUTIVE SUMMARY Turbine Oil is a high quality mineral oil with has an excellent capacity of water separation. It is mainly used in Power plants, gas turbine lubrication, excavators and forklifts due to properties like high corrosion and oxidation inhibition and foam suppression. The global turbine oil market is expected to grow to over 12% before the end of this decade. From a global perspective, total turbine oils demand is expected to be about 41.8 million metric tons, or about 13 million gallons. The growth is expected to be about 2.5% per year through 2014. The turbine oils market is fairly consolidated with top four participants accounting for 67% of the market in 2014. Key market participants include UBL, Total S.A, Exxon Mobil, BP, Shell and Chevron among others. The highest volume among the products is Mineral Oils which accounted for a share of 96.8% in the years 2011-2018 and is expected to be the lead in the years 2014-2020 as well.
Sample Table: Global Turbine Oil Market Revenue, By Product Type, 20142020 ($M) Product Type
2014
2015
2016
Mineral oils xx xx xx Synthetic oils xx xx xx Biobased oils xx xx xx Total xx xx xx Source: IndustryARC Analysis, Expert Interviews
2017
2018
2019
2020
xx xx xx xx
xx xx xx xx
xx xx xx xx
xx xx xx xx
CAGR (2015 2020) % xx% xx% xx% xx%
Almost every lubricant has started off as just a base oil. They are usually categorized into groups. Group I to III are refined from petroleum crude oil, group IV base oils are fully synthetic oils. Group V is for all the other base oils not included in Groups I-IV. Global turbine oils encompass a large group of emollients that serve a lot of industrial and residential purposes. They are classified to various other segments, each type has unique property, specifications, requirements and is intended for a special use.
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KEY MARKET INSIGHTS The global turbine oil industry is mainly driven by the soaring demand from the automobile industry When considering the end use insights, industrial segment was the largest end use segment for the biobased lubricants which accounted for over 52% of global consumption in 2014 Commercial transportation is expected to be the fastest growing segment of the global turbine industry at an approximate CAGR of over 6.5% from 2014-2020 North America and APAC were the largest consumers of turbine oils and are expected to be the market leaders during the forecasted period The biobased oil market consolidates for about 65% of the total turbine oils market Dow chemical is developing a soy polyol for chemical transformations in the global turbine oil market Vavoline was the first one to introduce engine oil (synthetic oil) in the market One of the most promising developments for turbine oils come from DuPont/Pioneer
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12.3 RESEARCH METHODOLOGY The quantitative and qualitative data collected for the global turbine oil market report is from a combination of secondary and primary sources. Research interviews were conducted with senior executives and/or managers of leading global turbine oil solution providers. These Key Opinion Leaders (KOLs) were then provided a questionnaire to gather quantitative and qualitative inputs on their operations, performance, strategies and views on the overall market, including key developments and technology trends. Data from interviews is consolidated, checked for consistency and accuracy, and the final market numbers are again validated by experts. The global market was split by products, services and geography based on different factors like primary and secondary sources, understanding of the number of companies operating in each segment and also KOL insights. We have used various secondary sources such as directories, articles, white papers, newsletters, annual reports and paid databases such as OneSource, Hoovers and Factiva to identify and collect information for extensive technical and commercial study of the global turbine oil market. The key players in the market and its value chain were identified through secondary research and their market opinions were also gathered in a similar way through telephonic interviews and questionnaires. We have also studied the annual reports of these top market players. Interviews with key opinion leaders such as directors, managers, and marketing personnel were used extensively in understanding the need and emergence of global turbine oil market. The following secondary sources were also used in the production of report and in triangulation of data points.
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THE ARC ADVANTAGE An analytical model lies at the core of our process, ensuring logical consistency throughout our research. We complement the model with secondary data and interviews with industry experts to reflect the latest trends. With our final expert validation, we provide you with only the most accurate and actionable intelligence.
THE ARC PROCESS Analytical Method 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market 3. Assign weights to these factors in terms of their relevance and impact on the market 4. Build the Analytical Model ANALYTICAL MODEL
Base Method
1. Get a topdown estimate of the market 2. Follow it up with a bottom-up estimate of the market 3. Check forconsistency and new growth factors that are relevant over the next 10 Years
4. Build the Base model BASE MODEL
Consolidation Method 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market. 3. Assign weights to these factors in terms of their relevance and impact on the market. 4. Build the Consolidated Model
Delphi Verification 1. Verify the findings of the model with experts from across the value chain 2. Verify the findings with players across small and large enterprises 3. Tweak the model and add new factors 4. Finalize the ARC Model
CONSOLIDATED MODEL
ARC MODEL
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