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GLOBAL BASE OIL MARKET FORECAST 2022-2030

In terms of revenue, the global base oil market was valued at $29.66 billion in 2021 and is predicted to reach $39.08 billion by 2030, progressing with a CAGR of 3.12% during the forecast period

GLOBAL BASE OIL MARKET FORECAST 2022-2030

Global 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

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In terms of revenue, the global base oil market was valued at $29.66 billion in 2021 and is predicted to reach $39.08 billion by 2030, progressing with a CAGR of 3.12% during the forecast period. Also, in terms of volume, the global base oil market is estimated to increase from 32563.42 kilotons in 2021 to 44923.94 kilotons by 2030, rising at a CAGR of 3.65% during the forecast period of 2022 to 2030. The market study has also analyzed the impact of COVID-19 on the base oil market qualitatively as well as quantitatively.

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Base oil is a refined product of crude oil, which is used to manufacture motor oil, lubricating greases, metal processing fluids, and others. Different products require different properties and compositions in the oil. As a result, chemical substances such as additives are added to base oils to meet the quality needs for end products, such as cleaning properties and friction, among others.

Base Oil Market

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Key growth enablers of the global base oil market:

  • 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
    • Governments of different countries across the globe are promoting the fuel efficiency of automobiles amid increasing concerns pertaining to environmental degradation and the ill effects of greenhouse emissions on human health and the environment.
    • For instance, in 2020, the American Petroleum Institute approved new performance standards for engine oils used in passenger cars with improved fuel efficiency as well as protection for automotive gasoline engines. Also, in Europe, the European Automobile Manufacturers Association (Association des Constructeurs Européens d’Automobiles, ACEA) sets the engine oil standards.
    • Such stringent regulations and policies associated with fuel efficiency and automobile performance are anticipated to increase the demand as well as the adoption of high-performance automotive lubricants such as base oils. Hence, this factor is projected to promote the growth of the global base oil market during the forecast period.

Key growth restraining factors:

  • Volatility in crude oil prices
    • The prices of crude oil, as well as petroleum products, can be impacted by events with the capability to disrupt oil flow and products to the market, such as weather and geopolitical-related developments. In addition to causing disruptions, these incidents may also create uncertainty regarding future supply and demand, resulting in higher price volatility.
    • According to International Energy Agency, the price of crude oil recorded in 2000 was $35.51 per barrel, which increased to $54.71 per barrel in 2005 and $78.23 per barrel in 2010. However, the prices reduced to $44.41 per barrel in 2015 and $40.34 per barrel in 2020. In 2021, the price of crude oil was recorded as $49.97 per barrel and $76.43 during the first quarter of 2022.
  • Declining demand for group I base oil

Global Base Oil Market | Top Trends

  • Rapid industrialization across the globe
    • Industrialization has been a prime advantage for growing economies across the globe as it significantly contributes to market development.
    • The growth in industrial production across developing countries is likely to increase the demand for base oil in different sectors such as construction, mining, agriculture, and automotive during the forecast period.
  • Increasing demand for hydraulic oil
    • Hydraulic fluid is composed of a base oil as well as additives. The base oil could be different types of vegetable oil, mineral oil, or synthetic oil.
    • Market players across the globe are developing and launching novel as well as advanced products in hydraulic oil.
  • Emergence of renewable base oils
    • Renewable base oils are manufactured from sustainable and renewable feedstocks with advanced biotechnology as well as a pioneering chemical conversion process.
    • There has been an increase in the focus of consumers and end-users towards the adoption of renewable base oil across multiple applications owing to rising concerns regarding environmental degradation. Moreover, a shift towards a sustainable and low-carbon future contributes to this, as well.
  • Expansion of base oil plants
    • Significant investments, as well as expansion of base oil plants and refineries across the globe, is a major factor set to promote the growth of the global base oil market during the forecast period.
    • For instance, the construction of API Group III (base oil) plant at Panipat refinery by Indian Oil Corporation Ltd in 2021, refinery expansion in northern Brazil by investing $2.5 billion by Petrobras in 2021, and others.

Market Segmentation – Group and Application –

Market by Group:

  • Group I
    • In terms of revenue, the group I segment is set to dominate the group category over the forecast period.
    • This group of base oil is characterized by its low aromatic compound content as well as paraffinic nature. Moreover, it is less refined with a mixture of different types of hydrocarbon chains and little uniformity as compared to all other groups.
    • Group I base oils majorly find applications in marine, automotive, and rail lubricants owing to their simple processing, affordability, high viscosity index, low volatility, and lubrication properties.
  • Group II
  • Group III
  • Group IV
  • Group V

Market by Application:

  • Automotive Oil
    • The automotive oil segment accounted for the highest market share within the application category in 2021 in terms of revenue.
    • Automotive oils are used in the manufacture of lubricants adopted in the automobile sector. Automotive lubricants are capable of reducing friction and heat generation in the engine and steering components of automobiles. Such lubricants can also cool automotive components under specific circumstances.
  • Industrial Oil
  • Greases
  • Hydraulic Oil
  • Metalworking Fluids
  • Other Applications

Geographical Study Based on Four Major Regions:

  • North America: The United States and Canada
  • Europe: France, the United Kingdom, Germany, Italy, Nordic Countries, Spain, and Rest of Europe
  • Asia-Pacific: China, India, South Korea, Indonesia, Japan, Thailand, Malaysia, Australia & New Zealand, and Rest of Asia-Pacific
    • In terms of revenue and volume, Asia-Pacific is anticipated to be the most dynamic regional market with a share of 41.01% and 41.26%, respectively, in 2021. It also accounts for the most lucrative region for major end-users in the market.
    • Growth in the production as well as sales of automobiles in countries such as China, Japan, and India to increase the adoption and deployment of motor oil, engine oil, greases, and other automotive lubricants derived from base oils is expected to fuel the market growth in the Asia-Pacific over the forecast years.
    • According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the total production of cars and commercial vehicles in China was more than 25.22 million units in 2020 which increased to more than 26.08 million units in 2021. Also, the total production of cars and commercial vehicles in Japan was more than 7.84 million units in 2021 (6.61 million cars and 1.22 million commercial vehicles). This factor is set to supplement the market growth in the region during the forecast years.
  • Rest of World: Latin America, the Middle East and Africa

Major players in the global base oil market:

  • Exxon Mobil Corporation
  • Chevron Corporation
  • Saudi Aramco
  • Shell PLC
  • Neste Oyj

Key strategies adopted by some of these companies:

In 2022, ADNOC Distribution announced the launch of the new Voyager Green Series, which is a range of lubricant products for petrol as well as diesel engines made from 100% plant-based base oil.

In 2021, Chevron Corporation announced an agreement to acquire the group III base oil business of Neste Oyj, which included its related sales and marketing business as well as the base oil brand NEXBASE.

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 Group and Application
Geographies Analyzed North America, Europe, Asia-Pacific, and Rest of World
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

  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)
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • ITALY
        • NORDIC COUNTRIES
        • REST OF EUROPE
    • 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
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  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: GLOBAL BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

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

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

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

TABLE 7: GLOBAL GROUP I MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 8: GLOBAL GROUP I MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 9: GLOBAL GROUP II MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 10: GLOBAL GROUP II MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 11: GLOBAL GROUP III MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 12: GLOBAL GROUP III MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 13: GLOBAL GROUP IV MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 14: GLOBAL GROUP IV MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 15: GLOBAL GROUP V MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 16: GLOBAL GROUP V MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 17: GLOBAL BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 18: GLOBAL BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 19: GLOBAL BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 20: GLOBAL BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 21: GLOBAL AUTOMOTIVE OIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 22: GLOBAL AUTOMOTIVE OIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 23: GLOBAL INDUSTRIAL OIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 24: GLOBAL INDUSTRIAL OIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 25: GLOBAL METALWORKING FLUIDS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 26: GLOBAL METALWORKING FLUIDS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 27: GLOBAL GREASES MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 28: GLOBAL GREASES MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 29: GLOBAL HYDRAULIC OIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 30: GLOBAL HYDRAULIC OIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 31: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 32: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 33: GLOBAL BASE OIL MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 34: GLOBAL BASE OIL MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 35: GLOBAL BASE OIL MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 36: GLOBAL BASE OIL MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 37: NORTH AMERICA BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 38: NORTH AMERICA BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 39: NORTH AMERICA BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 40: NORTH AMERICA BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 41: LEADING PLAYERS OPERATING IN NORTH AMERICA BASE OIL MARKET

TABLE 42: EUROPE BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 43: EUROPE BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 44: EUROPE BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 45: EUROPE BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 46: LEADING PLAYERS OPERATING IN EUROPE BASE OIL MARKET

TABLE 47: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 48: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 49: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 50: ASIA-PACIFIC BASE OIL MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 51: LEADING PLAYERS OPERATING IN ASIA-PACIFIC BASE OIL MARKET

TABLE 52: REST OF WORLD BASE OIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

TABLE 53: REST OF WORLD BASE OIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN KILOTONS)

TABLE 54: REST OF WORLD BASE OIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 55: REST OF WORLD BASE OIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 56: LEADING PLAYERS OPERATING IN REST OF WORLD BASE OIL MARKET

TABLE 57: LIST OF MERGERS & ACQUISITIONS

TABLE 58: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 59: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 60: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

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: GLOBAL BASE OIL MARKET, GROWTH POTENTIAL, BY GROUP, IN 2021

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

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

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

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

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

FIGURE 12: GLOBAL BASE OIL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

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

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

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

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

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

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

FIGURE 19: NORTH AMERICA BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

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

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

FIGURE 22: EUROPE BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 23: UNITED KINGDOM BASE OIL MARKET, 2022-2030 (IN $ MILLION)

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

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

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

FIGURE 27: ITALY BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 28: NORDIC COUNTRIES BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 29: REST OF EUROPE BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 30: ASIA-PACIFIC BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 31: CHINA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 32: JAPAN BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 33: INDIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 34: SOUTH KOREA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 35: INDONESIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 36: THAILAND BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 37: MALAYSIA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 38: AUSTRALIA & NEW ZEALAND BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 39: REST OF ASIA-PACIFIC BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 40: REST OF WORLD BASE OIL MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)

FIGURE 41: LATIN AMERICA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

FIGURE 42: MIDDLE EAST & AFRICA BASE OIL MARKET, 2022-2030 (IN $ MILLION)

  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
  3. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • ITALY
        • NORDIC COUNTRIES
        • REST OF EUROPE
    • 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
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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    Frequently Asked Questions (FAQs):

    What is the size of the Asia-Pacific base oil market?

    The Asia-Pacific base oil market size was valued at $12.167 billion in 2021.

    Which is the fastest-growing base oil application in terms of volume in the global base oil market?

    Automotive oil is the fastest-growing application in terms of volume in the global base oil market.

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


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