GLOBAL NAPHTHENIC BASE OIL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Naphthenic Base Oil Market, By Application (Transformer Oils, Process Oils, Rubber Process Oils, Lubricants, Others), By End-use Industry (Electrical & Electronics, Automotive, Industrial, Petrochemical, Others), By Grade (35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, Above 1200 SUS), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Recent Developments

New product launches

In January 2022, Nynas AB launched NYNAS T 600 X, a new transformer oil product that meets the latest IEC standards for efficiency and sustainability. It provides high oxidation stability and moisture tolerance.
In November 2021, Calumet Specialty Products Partners announced two new naphthenic oils for tire manufacturing - CALPRIME 715T and CALPRIME 735T. These provide extended tire life and fuel efficiency.
In September 2020, Ergon Inc. introduced its Parabase Line of naphthenic oils that can be used across lubricants, metalworking fluids, inks, coatings, etc. It offers high solvency power and low aromatic content.

Acquisition and partnerships

In October 2022, HollyFrontier and Origin Materials partnered to produce low-carbon naphthenic acids used for making naphthenic base oils. This supports sustainable production.
In December 2021, Gandhar Oil Refinery India acquired Apar Industries' lubricants business to expand its naphthenic base oils production.
In November 2020, Nynas partnered with OQ Chemicals to expand naphthenic base oil capacities in Europe and enter the global process oils market.