Base Oil Market by Application: Global Opportunity Analysis and Industry Forecast, 2016-2023

  • ID: 4368971
  • Report
  • Region: Global
  • 250 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • BP PLC
  • Chevron Corporation
  • Ergon Inc.
  • Evonik Industries
  • Exxon Mobil Corporation
  • H&R lwerke Schindler GmbH
  • MORE
The global base oil market was valued at $35,430 million in 2016, and is expected to reach $38,031 million by 2023, registering a CAGR of 1.0% from 2017 to 2023. Base oils are largely derived from crude oil base stocks. Group I mineral base oil is the primarily used base oil of the industrial lubricants business. However, the world base oil market is currently undergoing rapid change, driven mainly by the technical demand from high performance automotive engine oil applications, impacting all lubricant applications.

Demand for oils in the automotive industry, especially from emerging countries, and stringent environmental legislation leading to strict performance standards drive the global base oil market. However, the fluctuating costs of crude oil and regulations concerning emission norms are expected to hamper the market growth in the future. The global shift from Group I base oils to Group II & III present numerous growth opportunities to market players.

The global base oil market is segmented based on type, application, and geography. The type segment is classified into group I, II, III, IV, and V. Based on application, the market is divided into industrial oil, metalworking fluids, hydraulic oil, greases, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2016, Asia-Pacific occupied the largest market share, followed by North America. Asia-Pacific is expected to dominate the global base oil market by 2023, owing substantial growth in the emerging countries, such as, China, India, and South Korea.

The prominent players in the global base oil market have strategically focused on expansion and agreements as their key strategies to gain significant market share.

The key players profiled are as follows:

BP PLC
Chevron Corporation
Ergon Inc.
Evonik Industries
Exxon Mobil Corporation
H&R Ölwerke Schindler GmbH
Nynas AB
Petronas Lubricants Pvt. Ltd.
Royal Dutch Shell PLC
SK Lubricants Co. Ltd.
Total S.A.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current trends, emerging estimations, and dynamics throughout the base oil market.
In-depth analysis of the market is conducted and estimations for key segments between 2014 and 2022 are provided.
The factors that drive and restrain the market growth are provided.
The market share for all segments with respect to geography is provided.

Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the base oil industry trends.

KEY MARKET SEGMENTATION

By Type

Group I
Group II
Group III
Group IV
Group V

By Application

Automotive Oil
Industrial Oil
Metalworking Fluids
Greases
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
Italy
Germany
France
UK
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Rest of LAMEA

*The other players in the value chain include

Avista Oil AG
Calumet Specialty Products Partners Lp
GS Caltex Corporation
Lotos Oil SP. Z O.O.
MOGoil GmbH
Neste Oil
PetroChina Company Limited
Repsol S.A.
Sinopec Group
S-Oil Corporation.

*Profiles of these players are not included in the report, but can be included on request.
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FEATURED COMPANIES

  • BP PLC
  • Chevron Corporation
  • Ergon Inc.
  • Evonik Industries
  • Exxon Mobil Corporation
  • H&R lwerke Schindler GmbH
  • MORE
CHAPTER 1. INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

CHAPTER 2. EXECUTIVE SUMMARY

2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top Investment Pockets
3.2.2. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. Increase in demand for high grade oils in automotive industry
3.4.1.2. Stringent environmental legislations
3.4.1.3. Global industrial growth

3.4.2. Restraints

3.4.2.1. Fluctuating price of crude oil

3.4.3. Opportunities

3.4.3.1. Global shift from Group I base oils to Group II & III

3.5. MARKET SHARE ANALYSIS, 2016 (%)

CHAPTER 4. GLOBAL BASE OIL MARKET, BY TYPE

4.1. INTRODUCTION

4.1.1. Market Size and Forecast

4.2. GROUP I

4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast

4.3. GROUP II

4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast

4.4. GROUP III

4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast

4.5. GROUP IV

4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast

4.6. GROUP V

4.6.1. Key Market Trends, Growth Factors and Opportunities
4.6.2. Market Size and Forecast

CHAPTER 5. GLOBAL BASE OIL MARKET, BY APPLICATION

5.1. INTRODUCTION

5.1.1. Market Size and Forecast

5.2. AUTOMOTIVE OIL

5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast

5.3. INDUSTRIAL OIL

5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast

5.4. METALWORKING FLUIDS

5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast

5.5. HYDRAULIC OIL

5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast

5.6. GREASES

5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast

5.7. OTHERS

5.7.1. Key Market Trends, Growth Factors and Opportunities
5.7.2. Market Size and Forecast

CHAPTER 6. GLOBAL BASE OIL MARKET, BY GEOGRAPHY

6.1. INTRODUCTION

6.1.1. Market Size and Forecast

6.2. NORTH AMERICA

6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast
6.2.3. U.S.

6.2.3.1. Market size and forecast, by type
6.2.3.2. Market size and forecast, by application

6.2.4. Canada

6.2.4.1. Market size and forecast, by type
6.2.4.2. Market size and forecast, by application

6.2.5. Mexico

6.2.5.1. Market size and forecast, by type
6.2.5.2. Market size and forecast, by application

6.3. EUROPE

6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast
6.3.3. Italy

6.3.3.1. Market size and forecast, by type
6.3.3.2. Market size and forecast, by application

6.3.4. Germany

6.3.4.1. Market size and forecast, by type
6.3.4.2. Market size and forecast, by application

6.3.5. France

6.3.5.1. Market size and forecast, by type
6.3.5.2. Market size and forecast, by application

6.3.6. UK

6.3.6.1. Market size and forecast, by type
6.3.6.2. Market size and forecast, by application

6.3.7. Spain

6.3.7.1. Market size and forecast, by type
6.3.7.2. Market size and forecast, by application

6.3.8. Rest of Europe

6.3.8.1. Market size and forecast, by type
6.3.8.2. Market size and forecast, by application

6.4. ASIA-PACIFIC

6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4.3. China

6.4.3.1. Market size and forecast, by type
6.4.3.2. Market size and forecast, by application

6.4.4. Japan

6.4.4.1. Market size and forecast, by type
6.4.4.2. Market size and forecast, by application

6.4.5. India

6.4.5.1. Market size and forecast, by type
6.4.5.2. Market size and forecast, by application

6.4.6. South Korea

6.4.6.1. Market size and forecast, by type
6.4.6.2. Market size and forecast, by application

6.4.7. Australia

6.4.7.1. Market size and forecast, by type
6.4.7.2. Market size and forecast, by application

6.4.8. Rest of Asia-Pacific

6.4.8.1. Market size and forecast, by type
6.4.8.2. Market size and forecast, by application

6.5. LAMEA

6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast
6.5.3. Brazil

6.5.3.1. Market size and forecast, by type
6.5.3.2. Market size and forecast, by application

6.5.4. Argentina

6.5.4.1. Market size and forecast, by type
6.5.4.2. Market size and forecast, by application

6.5.5. UAE

6.5.5.1. Market size and forecast, by type
6.5.5.2. Market size and forecast, by application

6.5.6. Rest of LAMEA

6.5.6.1. Market size and forecast, by type
6.5.6.2. Market size and forecast, by application

CHAPTER 7. COMPANY PROFILES

7.1. BP PLC

7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Business Performance
7.1.5. Key Strategic Moves and Developments

7.2. CHEVRON CORPORATION

7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Business Performance
7.2.5. Key Strategic Moves and Developments

7.3. ERGON INC.

7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Operating Business Segments
7.3.4. Business Performance
7.3.5. Key Strategic Moves and Developments

7.4. EVONIK INDUSTRIES AG

7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Operating Business Segments
7.4.4. Business Performance
7.4.5. Key Strategic Moves and Developments

7.5. EXXON MOBIL CORPORATION

7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Operating Business Segments
7.5.4. Business Performance
7.5.5. Key Strategic Moves and Developments

7.6. H&R LWERKE SCHINDLER GMBH

7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Operating Business Segments
7.6.4. Business Performance
7.6.5. Key Strategic Moves and Developments

7.7. NYNAS AB

7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Operating Business Segments
7.7.4. Business Performance
7.7.5. Key Strategic Moves and Developments

7.8. PETRONAS PVT. LTD .

7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Operating Business Segments
7.8.4. Business Performance
7.8.5. Key Strategic Moves and Developments

7.9. ROYAL DUTCH SHELL PLC

7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Operating Business Segments
7.9.4. Business Performance
7.9.5. Key Strategic Moves and Developments

7.10. SK LUBRICANTS CO. LTD.

7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Operating Business Segments
7.10.4. Business Performance
7.10.5. Key Strategic Moves and Developments

7.11. TOTAL S.A.

7.11.1. Company Overview
7.11.2. Company Snapshot
7.11.3. Operating Business Segments
7.11.4. Business Performance
7.11.5. Key Strategic Moves and Developments
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FEATURED COMPANIES

  • BP PLC
  • Chevron Corporation
  • Ergon Inc.
  • Evonik Industries
  • Exxon Mobil Corporation
  • H&R lwerke Schindler GmbH
  • MORE
According to a new report published by Allied Market Research titled, "Base oil Market by Application, Type: Global Opportunity Analysis and Industry Forecast, 2017-2023," the base oil market was valued at $35,430 million in 2016, and is projected to reach at $38,031 million by 2023, growing at a CAGR of 1.0% from 2017 to 2023. Asia-Pacific dominates the base oil market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.

The demand for high-grade lubricant oils in the automotive industry, and stringent environmental legislation leading to strict performance standards drive the growth of the market. However, the fluctuating costs of crude oil and regulations concerning emission norms are expected to hamper the market growth in the future. The global shift from Group I base oils to Group II & III present numerous growth opportunities to market players.

The automotive oil segment accounted for almost half the share of the total base oil market in 2016, in terms of value, and is expected to maintain its dominance during the forecast period. However, application of base oils in industrial oils is expected to grow at a comparatively high rate due to stricter emission norms in EU and EPA regions.

The global economy profits from declining oil costs because of high financial multiplier in the emerging oil-importing economies. Therefore, base oil utilization in the automotive sector is expected to grow through both increasing purchasing power (new and second-hand automotive deals) and expanding vehicle usage. This growth is estimated to be particularly noticeable in the developing countries, and control the decline in Group I base oil demand.

Key Findings of the Base oil Market:

In terms of value, the automotive segment is expected to grow at a CAGR of 1.2% during the forecast period.
In Asia-Pacific, China is estimated to grow at a highest CAGR of 1.3%, in terms of value.
Industrial oil application in terms of volume occupied around one-third share of the global market in 2016.
The U.S. accounted for nearly one-sixth share of the base oil market in 2016, and is expected to grow at a significant CAGR of 0.8%, in terms of value.
In 2016, North America and Asia-Pacific collectively accounted for more than two-thirds of the entire global base oil market, in value terms. Asia-Pacific is expected to grow at the highest rate during the forecast period. High automotive lubricant demand and industrial growth from emerging countries, such as China, India, South Korea, and Australia, are estimated to drive the market growth.

The major companies profiled in the report include BP PLC, Chevron Corporation, Ergon Inc., Evonik Industries, Exxon Mobil Corporation, H&R lwerke Schindler GmbH, Nynas AB, Petronas, Royal Dutch Shell PLC, SK Lubricants Co. Ltd., and Total S.A.
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  • BP PLC
  • Chevron Corporation
  • Ergon Inc.
  • Evonik Industries
  • Exxon Mobil Corporation
  • H&R lwerke Schindler GmbH
  • Nynas AB
  • Petronas
  • Royal Dutch Shell PLC
  • SK Lubricants Co. Ltd.
  • Total S.A.
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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