Search for a report

Reports

  • You are here:
  • Home
  • Downloads
  • ASIA-PACIFIC BASE OIL MARKET FORECAST 2022-2030

ASIA-PACIFIC BASE OIL MARKET FORECAST 2022-2030

The Asia-Pacific base oil market is estimated to register a CAGR of 3.54% in terms of revenue and 4.07% in terms of volume during the forecasting period of 2022 to 2030, acquiring a revenue share of $16634.14 million by 2030.

ASIA-PACIFIC BASE OIL MARKET FORECAST 2022-2030

Asia-Pacific Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V) Market by Application (Automotive Oil, Industrial Oil, Metalworking Fluids, Greases, Hydraulic Oil, Other Applications) By Geography

Request free sample

The Asia-Pacific base oil market is estimated to register a CAGR of 3.54% in terms of revenue and 4.07% in terms of volume during the forecasting period of 2022 to 2030, acquiring a revenue share of $16634.14 million by 2030.

Key factors such as the rise in production as well as sales of automobiles in developing countries, the growing adoption and deployment of engine oil, motor oil, greases, and numerous other automotive lubricants derived from base oils, and the launch of advanced and innovative base oil products are primarily credited to the market growth of the region.

However, the limited domestic supplies of oil and oil products, as well as energy-related environmental issues, are likely to challenge the Asia-Pacific base oil market growth.

Asia Pacific Base Oil Market

To know more about this report, request a free sample copy

The Asia-Pacific base oil market growth evaluation covers the assessment of Thailand, Japan, Australia & New Zealand, India, Indonesia, South Korea, Malaysia, China, and Rest of Asia-Pacific. The demand for crude oil in China has increased, with the growth attributable to rapid economic development, industrialization, and rising exports of refined petroleum products, mainly to other Asian markets. Moreover, as per the International Energy Agency, the country’s oil demand is anticipated to surge to 2.2 million barrels per day in 2023, from 1.8 million barrels per day in 2022. In addition, there has also been significant growth in the sales as well as production of automobiles in China. In this regard, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the overall manufacture of cars and commercial vehicles in the country was over 25.22 million units in the year 2020, increasing to more than 26.08 million units in the following year.

On the other hand, Japan has witnessed a substantial increase in the usage and consumption of base oil, driven by factors such as the high production of automobiles and the increase in manufacturing activities and industries. In addition, key players have recorded notable developments within the country’s base oil market, as well. For instance, Cosmo Oil Lubricants Co Ltd obtained the Biomass Mark certification in 2022 for COSMO DIESEL CARBONEUT 10W-30, a bio-based diesel engine oil. Hence, these factors are expected to propel the Asia-Pacific base oil market growth during the estimated years.

The Asia-Pacific base oil market is segmented into application and group. The group category is further classified into group I, group III, group II, group IV, and group V. Group III base oils possess a saturate content of over 90% as well as a viscosity index of more than 120. Also, the sulfur content in group III base oils is less than 0.03%. Characterized as more refined compared to group II base oils, they are severely hydrocracked at higher pressure and heat.

Group IV base oils are synthetic base oils made through a process termed synthesizing and have a much broader temperature range. Besides, they are ideal for usage in extremely cold conditions as well as high heat applications.

Some of the prominent firms operating in the Asia-Pacific base oil market include PT Pertamina, GS Caltex Corporation, S-Oil Corporation, etc.

PT Pertamina, headquartered in Indonesia, is a state-owned oil and natural gas corporation. The company’s business activities span energy and petrochemicals and are divided into two sectors, namely downstream and upstream. Moreover, it is also engaged in developing renewable energy sources like lithium-ion batteries, solar cells, biodiesel, green energy station, and others.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million) and Volume (Kilotons)
Segments Analyzed Application and Group
Countries Analyzed China, Japan, South Korea, Thailand, Australia & New Zealand, India, Indonesia, Malaysia, and Rest of Asia-Pacific
Companies Analyzed

Exxon Mobil Corporation, The Chevron Corporation, Saudi Aramco, Shell PLC, Neste Oyj, GS Caltex Corporation, Avista Oil AG, PT Pertamina (Persero), Phillips 66 Company, Sepahan Oil, Ergon Inc, Grupa Lotos, Nynas AB, S-Oil Corporation, Repsol SA

To request a free sample copy of this report, please complete the form below:

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • INCREASING DEMAND FOR HIGH-GRADE OILS IN THE AUTOMOTIVE INDUSTRY
        • DIVERSE RANGE OF APPLICATIONS ACROSS DIFFERENT END-USERS
        • STRINGENT ENVIRONMENTAL LEGISLATION LEADING TO STRICT PERFORMANCE STANDARDS
      • KEY RESTRAINTS
        • VOLATILITY IN CRUDE OIL PRICES
        • DECLINING DEMAND FOR GROUP I BASE OIL
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON BASE OIL MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • KEY BUYING CRITERIA
        • TYPE
        • VISCOSITY GRADE
        • OIL STANDARDS
        • PERFORMANCE
      • REGULATORY FRAMEWORK
    2. MARKET BY GROUP (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • GROUP I
      • GROUP II
      • GROUP III
      • GROUP IV
      • GROUP V
    3. MARKET BY APPLICATION (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • AUTOMOTIVE OIL
      • INDUSTRIAL OIL
      • METALWORKING FLUIDS
      • GREASES
      • HYDRAULIC OIL
      • OTHER APPLICATIONS
    4. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • MALAYSIA
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • AVISTA OIL AG
        • ERGON INC
        • EXXON MOBIL CORPORATION
        • GRUPA LOTOS
        • GS CALTEX CORPORATION
        • NESTE OYJ
        • NYNAS AB
        • PHILLIPS 66 COMPANY
        • PT PERTAMINA (PERSERO)
        • REPSOL SA
        • SAUDI ARAMCO
        • SEPAHAN OIL
        • SHELL PLC
        • S-OIL CORPORATION
        • THE CHEVRON CORPORATION

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – BASE OIL

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: ASIA-PACIFIC BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 4: ASIA-PACIFIC BASE OIL MARKET, BY GROUP, FORECAST YEARS, 2022-2030 (IN KILOTONS)

    TABLE 5: ASIA-PACIFIC BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: ASIA-PACIFIC BASE OIL MARKET, BY GROUP, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: ASIA-PACIFIC BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 8: ASIA-PACIFIC BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN KILOTONS)

    TABLE 9: ASIA-PACIFIC BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: ASIA-PACIFIC BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

    TABLE 12: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN KILOTONS)

    TABLE 13: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 14: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 15: LEADING PLAYERS OPERATING IN ASIA-PACIFIC BASE OIL MARKET

    TABLE 16: LIST OF MERGERS & ACQUISITIONS

    TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURE          

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: KEY BUYING CRITERIA

    FIGURE 6: ASIA-PACIFIC BASE OIL MARKET, GROWTH POTENTIAL, BY GROUP, IN 2021

    FIGURE 7: ASIA-PACIFIC BASE OIL MARKET, BY GROUP I, 2022-2030 (IN $ MILLION)

    FIGURE 8: ASIA-PACIFIC BASE OIL MARKET, BY GROUP II, 2022-2030 (IN $ MILLION)

    FIGURE 9: ASIA-PACIFIC BASE OIL MARKET, BY GROUP III, 2022-2030 (IN $ MILLION)

    FIGURE 10: ASIA-PACIFIC BASE OIL MARKET, BY GROUP IV, 2022-2030 (IN $ MILLION)

    FIGURE 11: ASIA-PACIFIC BASE OIL MARKET, BY GROUP V, 2022-2030 (IN $ MILLION)

    FIGURE 12: ASIA-PACIFIC BASE OIL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 13: ASIA-PACIFIC BASE OIL MARKET, BY AUTOMOTIVE OIL, 2022-2030 (IN $ MILLION)

    FIGURE 14: ASIA-PACIFIC BASE OIL MARKET, BY INDUSTRIAL OIL, 2022-2030 (IN $ MILLION)

    FIGURE 15: ASIA-PACIFIC BASE OIL MARKET, BY METALWORKING FLUIDS, 2022-2030 (IN $ MILLION)

    FIGURE 16: ASIA-PACIFIC BASE OIL MARKET, BY GREASES, 2022-2030 (IN $ MILLION)

    FIGURE 17: ASIA-PACIFIC BASE OIL MARKET, BY HYDRAULIC OIL, 2022-2030 (IN $ MILLION)

    FIGURE 18: ASIA-PACIFIC BASE OIL MARKET, BY OTHER APPLICATIONS, 2022-2030 (IN $ MILLION)

    FIGURE 19: ASIA-PACIFIC BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 20: CHINA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 21: JAPAN BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 22: INDIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 23: SOUTH KOREA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 24: INDONESIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 25: THAILAND BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 26: MALAYSIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 27: AUSTRALIA & NEW ZEALAND BASE OIL MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 28: REST OF ASIA-PACIFIC BASE OIL MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • MALAYSIA
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. MARKET BY GROUP (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • GROUP I
      • GROUP II
      • GROUP III
      • GROUP IV
      • GROUP V
    2. MARKET BY APPLICATION (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • AUTOMOTIVE OIL
      • INDUSTRIAL OIL
      • METALWORKING FLUIDS
      • GREASES
      • HYDRAULIC OIL
      • OTHER APPLICATIONS

    To request a free sample copy of this report, please complete the form below :

    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


      Choose License Type

      Buy Now