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EUROPE BASE OIL MARKET FORECAST 2022-2030

The Europe base oil market is projected to develop with a CAGR of 3.02% in terms of revenue and 3.53% in terms of volume during the forecast period of 2022 to 2030, reaching a revenue share of $9118.68 million by 2030.

EUROPE BASE OIL MARKET FORECAST 2022-2030

Europe 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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The Europe base oil market is projected to develop with a CAGR of 3.02% in terms of revenue and 3.53% in terms of volume during the forecast period of 2022 to 2030, reaching a revenue share of $9118.68 million by 2030.

The market growth of the region is reinforced by the surge in production and sales of various automobiles such as cars as well as commercial vehicles, the expansion of the manufacturing sector, and the rising number of industries with an increased need for high-performance base oils.

However, the Europe base oil market may face challenges like the declining prices of oil and reduced investment in oil & gas production.

Europe Base Oil Market

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The Europe base oil market growth evaluation comprises the study of the United Kingdom, Italy, Spain, France, Germany, Nordic Countries, and Rest of Europe. The presence of major industry giants as well as market players across the United Kingdom, in addition to a diverse range of strategic initiatives undertaken, mainly propel the country’s base oil market growth. Aligning with this, Nuspec Oil, a United Kingdom start-up, completed the pilot-scale manufacturing of a bright stock base oil in 2021. The base oil termed BS32 is bio-based as well as biodegradable. While the product is available for testing purposes, the company has also announced its plans to ramp up manufacturing, thus making the product commercially available in the year 2022.

On the other hand, the market growth in Germany is boosted by the rise in manufacturing activities, product developments, as well as the launch of different base oil products. The country’s manufacturing sector has recorded significant growth, as well. For instance, as per industry data, the overall revenue within the German manufacturing sector is anticipated to reach $3,010.00 billion in 2022. Furthermore, the total number of enterprises across Germany equated to 205,899 in the year 2018. This factor is set to fuel the demand as well as the adoption of different types of base oil products, thus ensuring the efficient and smooth operation of components and machinery utilized across manufacturing industries. Therefore, these drivers are predicted to influence the base oil market growth in Europe during the forecast years.

The Europe base oil market is segmented into application and group. The application category is further classified into industrial oil, hydraulic oil, automotive oil, metalworking fluids, greases, and other applications. Automotive oils are widely used in manufacturing lubricants that are adopted within the automobile sector. Automotive lubricants are also capable of minimizing friction as well as heat generation in automobiles’ engine, transmission, and steering components. Furthermore, they can cool automotive components under specific circumstances, as well.

Conversely, industrial oils play an essential role across various industries. These oils are employed to improve the performance of industrial machinery and equipment while safeguarding them from any kind of damage during operation. In terms of industrial applications, oils and other liquid lubricants are utilized in all existing sectors, including operations in tough terrains and conditions.

Key players operating in the Europe base oil market are Shell PLC, Avista Oil AG, Neste Oyj, etc.

Shell PLC, headquartered in the United Kingdom, is a multinational oil and gas company. Its operations are divided into Renewables and Energy Solutions (formerly New Energies), Downstream, and Upstream. Shell PLC has a strong global presence in over 70 countries globally, spanning regions such as Africa, Asia-Pacific, the Americas, Europe and the Middle East.

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 The United Kingdom, Italy, Spain, France, Germany, Nordic Countries, and Rest of Europe
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

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    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)
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • NORDIC COUNTRIES
          • REST OF EUROPE
    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: EUROPE BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)

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

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

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

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

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

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

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

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

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

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

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

    TABLE 15: LEADING PLAYERS OPERATING IN EUROPE 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: EUROPE BASE OIL MARKET, GROWTH POTENTIAL, BY GROUP, IN 2021

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    FIGURE 26: REST OF EUROPE BASE OIL MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • NORDIC COUNTRIES
          • REST OF EUROPE
    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

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