- In August 2020, Chevron Products Company, a subsidiary of Novvi LLC and Chevron U.S.A. Inc., announced the production of the first 100 percent renewable base oil from Novvi's Deer Park, Houston facility using ISODEWAXING technology. The novel manufacturing process and molecules are expected to outperform conventional and synthetic base oils while also being made from renewable feedstocks.
- In July 2020, SWEPI LP, a Royal Dutch Shell subsidiary, has completed the sale of its Appalachia shale gas position to Seneca Resources Company, LLC and NFG Midstream Covington, LLC, both subsidiaries of National Fuel Gas Company, for USD 541 million to invest as an asset for quality base oil production.
Frequently Asked Questions
The market is segmented based on Segmentation, By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-based Oil), Type (Paraffinic Oils, Naphthenic Oils, Aromatic Oils and Veg and Bio Oils), Application (Original Equipment Manufacturer (OEM), Mining Equipment, Construction Equipment, Transportation, Oil and Gas, Metal Production, Food and Beverage and Others) – Industry Trends and Forecast to 2032
.
The Global Hydraulic Oil Market size was valued at USD 12.93 USD Billion in 2024.
The Global Hydraulic Oil Market is projected to grow at a CAGR of 7.3% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
