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India Base Oil Market, By Type (Group I, Group II, Group III, Group IV, and Group V), By Application (Automotive Oil, Industrial Oil, Metalworking Fluids, Hydraulic Oil, Greases, and Others), By Region, Competition Forecast and Opportunities, 2028

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  • 76 Pages
  • June 2023
  • Region: India
  • TechSci Research
  • ID: 5024048
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India Base Oil Market is anticipated to increase at an impressive rate in the forecast period 2028. The growth is attributable to the increased use of lubricating oil in industries such as metallurgy, automotive, chemicals, heavy equipment, and power generation. The country produced around 17.8 million vehicles in the financial year 2022.

The market is highly fragmented, with many very creative players. Companies are implementing collaborative business techniques to boost efficiency, supply consumers with highly appreciated products, and extend their geographical presence.

Base oil is widely used in the formulation of lubricating oils and has various applications in various sectors. Group-I base oils are primarily utilized in marine lubricants, which are commonly used in the shipping sector to protect and enhance the performance of engines and equipment. These high-performance marine lubricants require high-viscosity base oils to work well in operations.

The increased popularity of aromatic treatments for homes in developed economies like Germany, the United Kingdom, the United States, and Canada is expected to drive demand for the market over the projection period. The leading industry participants have identified the potential future opportunities of the market across the world and are continually acquiring small- or medium-sized enterprises. They are collaborating with other companies to produce significant quantities of base oils. These top firms are also introducing innovative items in the industry to preserve their supremacy. All these factors are fueling the growth of the market.

Growing Demand from the Automobile Sector

The automobile sector is one of the most significant contributors to base oils globally. The demand for lubricants in car manufacturing is anticipated to remain stable; however, moving toward electric vehicles has restricted growth for specific lubricants. Consumers want standard and specialized solutions to meet their needs. Thus, lubricant makers are investing in innovative product development, particularly in the automotive industry. The rising consumption of lubricant makers is expected to drive base oil demand over the predicted period.

Rising Awareness and Stringent Government Regulations

The increased requirement for emission control in numerous industries, such as marine, and rigorous government regulations to reduce CO2, NOx, sulfur, and other pollutant matter have driven oil firms to create improved ways of improving lubricant composition. This has led to an increase in the adoption of Group II, Group III, and blended base oils for the manufacturing of lubricants. This factor encourages the expansion of the India base oil market.

Market Segmentation

India Base Oil market is segmented based on Type and Application. Based on Type Group I, Group II, Group III, Group IV, and Group V. Based on Application, the market is segmented into Automotive Oil, Industrial Oil, Metalworking Fluids, Hydraulic Oil, Greases, and Others.

Market Players

ExxonMobil Corporation, Indian Oil Corporation Ltd., SK Lubricants Co., Ltd., Petronas Lubricants International, BP p.l.c, Shell India Pvt Ltd., Chevron Corporation, Bharat Petroleum Corporation Limited, Sepahan Oil, and Hindustan Petroleum Corporation Limited are some of the key players operating in the India Base Oil Market.

Report Scope:

In this report, India Base Oil Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Base Oil Market, By Type:

  • Group I
  • Group II
  • Group III
  • Group IV
  • Group V

India Base Oil Market, By Application:

  • Automotive Oil
  • Industrial Oil
  • Metalworking Fluids
  • Hydraulic Oil
  • Greases
  • Others

India Base Oil Market, By Region:

  • North
  • South
  • West
  • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Base Oil Market.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. India Base Oil Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type (Group I, Group II, Group III, Group IV, and Group V)
5.2.2. By Application (Automotive Oil, Industrial Oil, Metalworking Fluids, Hydraulic Oil, Greases, and Others)
5.2.3. By Region (North, South, West and East)
5.2.4. By Company (2022)
5.3. Market Map
5.3.1. By Type
5.3.2. By Application
5.3.3. By Region
6. North India Base Oil Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By State (Top 3 States)
7. South India Base Oil Market Outlook.
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By State (Top 3 States)
8. West India Base Oil Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
8.2.3. By State (Top 3 States)
9. East India Base Oil Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Application
9.2.3. By State (Top 3 States)
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
11.1. Mergers & Acquisitions
11.2. Recent Trends & Developments
11.3. New Product Launches
12. Pricing Analysis13. List of Suppliers/Distributors, By Region (Up to 10)14. Policy and Regulatory Landscape
15. Porters Five Forces Analysis
15.1. Competition in the Industry
15.2. Potential of New Entrants
15.3. Power of Suppliers
15.4. Power of Customers
15.5. Threat of Substitute Products
16. Competitive Landscape
16.1. Business Overview
16.2. Company Snapshot
16.3. Products & Services
16.4. Financials (As Reported)
16.5. Recent Developments
16.6. SWOT Analysis
16.6.1. ExxonMobil Corporation
16.6.2. Indian Oil Corporation Ltd.
16.6.3. SK Lubricants Co., Ltd.
16.6.4. Petronas Lubricants International
16.6.5. BP p.l.c
16.6.6. Shell India Pvt Ltd.
16.6.7. Chevron Corporation
16.6.8. Bharat Petroleum Corporation Limited
16.6.9. Sepahan Oil
16.6.10. Hindustan Petroleum Corporation Limited
17. Strategic Recommendations

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ExxonMobil Corporation
  • Indian Oil Corporation Ltd.
  • SK Lubricants Co., Ltd.
  • Petronas Lubricants International
  • BP p.l.c
  • Shell India Pvt Ltd.
  • Chevron Corporation
  • Bharat Petroleum Corporation Limited
  • Sepahan Oil
  • Hindustan Petroleum Corporation Limited