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Asia-Pacific Base Oil Market 2022-2028

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    Report

  • 125 Pages
  • July 2022
  • Region: Asia Pacific
  • Triton Market Research
  • ID: 5639773

The region’s growth is expected to increase with the launch of advanced and innovative base oil products by the market players.

MARKET OUTLOOK


As per this report, the Asia-Pacific base oil market is expected to grow with a revenue CAGR of 3.85% and a volume CAGR of 4.38% during the forecasted period of 2022-2028. The region’s market is studied across countries like India, China, Japan, ASEAN countries, South Korea, Australia & New Zealand and Rest of Asia-Pacific.

In the Asia-Pacific, the growth in the production and sales of automobiles in China, Japan, and India led to an increase in the adoption and deployment of motor oil, engine oil, greases, and other automotive lubricants acquired from base oil. The market is expected to grow with the increase in the launch of advanced and innovative base oil products by the dominant players like GS Caltex Corporation, PT Pertamina, and S-Oil Corporation in the region. Such factors in the Asia-Pacific region can fuel the market growth during the forecast period.

Rapid industrialization, increasing export of refined petroleum, and economic growth are some factors that increase China’s demand for crude oil. These factors are expected to raise the deployment of various base oil products. As per International Energy Agency, the demand for oil in China is expected to grow from 1.8 million barrels per day in 2022 to 2.2 million barrels per day in 2023. Further, an expansion in base oil production is expected to impact the market’s growth. For instance, in 2022, the Sinopec Maoming Petrochemical Company, located in the Guangdong province, announced that it would begin producing poly alpha olefin with 12,000 tons per year.

COMPETITIVE OUTLOOK


The dominant players in the base oil market include Saudi Aramco, Neste Oyj, GS Caltex Corporation, PT Pertamina, Ergon Inc, Nynas AB, Grupa Lotos, Repsol SA, Exxon Mobil Corporation and Chevron Corporation.

Table of Contents

1. Asia-Pacific Base Oil Market - Summary
2. Industry Outlook
2.1. Impact of Covid-19 on the Base Oil Market
2.2. Key Insights
2.2.1. Rapid Industrialization Across the Globe
2.2.2. Increasing Demand for Hydraulic Oil
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitutes
2.3.3. Bargaining Power of Buyers
2.3.4. Bargaining Power of Suppliers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Key Market Strategies
2.6.1. Product Launches & Developments
2.6.2. Partnerships & Agreements
2.7. Market Drivers
2.7.1. Rising Demand for High-Grade Oils from the Automotive Sector
2.7.2. Wide Range of Applications Across Different End-Users
2.7.3. Stringent Environmental Regulations Leading to Strict Performance Standards
2.8. Market Challenges
2.8.1. Volatility in the Price of Crude Oil
2.8.2. Decrease in the Demand for Group I Base Oil
2.9. Market Opportunities
2.9.1. Increasing Popularity of Renewable Base Oil
2.9.2. Growing Demand Across the Asia-Pacific Region
3. Asia-Pacific Base Oil Market Outlook - by Group (In Terms of Value: $ Million & Volume: Kiloton)
3.1. Group I
3.2. Group Ii
3.3. Group Iii
3.4. Group Iv
3.5. Group V
4. Asia-Pacific Base Oil Market Outlook - by Application (In Terms of Value: $ Million & Volume: Kiloton)
4.1. Automotive Oil
4.2. Industrial Oil
4.3. Greases
4.4. Hydraulic Oil
4.5. Metalworking Fluids
4.6. Other Applications
5. Asia-Pacific Base Oil Market - Country Outlook (In Terms of Value: $ Million & Volume: Kiloton)
5.1. China
5.2. Japan
5.3. India
5.4. South Korea
5.5. Asean Countries
5.6. Australia & New Zealand
5.7. Rest of Asia-Pacific
6. Competitive Landscape
6.1. Exxon Mobil Corporation
6.2. Chevron Corporation
6.3. Saudi Aramco
6.4. Shell plc
6.5. Neste Oyj
6.6. Gs Caltex Corporation
6.7. Avista Oil AG
6.8. Pt Pertamina (Persero)
6.9. Phillips 66 Company
6.10. Sepahan Oil
6.11. Ergon Inc
6.12. Grupa Lotos
6.13. Nynas Ab
6.14. S-Oil Corporation
6.15. Repsol Sa
7. Research Methodology & Scope
7.1. Research Scope & Deliverables
7.2. Sources of Data
7.3. Research Methodology
List of Tables
Table 1: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 2: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 3: Vendor Scorecard
Table 4: Asia-Pacific Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 5: Asia-Pacific Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 6: Asia-Pacific Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 7: Asia-Pacific Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 8: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 9: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
List of Figures
Figure 1: Market Attractiveness Index
Figure 2: Asia-Pacific Base Oil Market, by Group, 2021 & 2028 (In %)
Figure 3: Asia-Pacific Base Oil Market, by Group I, 2022-2028 (In $ Million)
Figure 4: Asia-Pacific Base Oil Market, by Group Ii, 2022-2028 (In $ Million)
Figure 5: Asia-Pacific Base Oil Market, by Group Iii, 2022-2028 (In $ Million)
Figure 6: Asia-Pacific Base Oil Market, by Group Iv, 2022-2028 (In $ Million)
Figure 7: Asia-Pacific Base Oil Market, by Group V, 2022-2028 (In $ Million)
Figure 8: Asia-Pacific Base Oil Market, by Application, 2021 & 2028 (In %)
Figure 9: Asia-Pacific Base Oil Market, by Automotive Oil, 2022-2028 (In $ Million)
Figure 10: Asia-Pacific Base Oil Market, by Industrial Oil, 2022-2028 (In $ Million)
Figure 11: Asia-Pacific Base Oil Market, by Greases, 2022-2028 (In $ Million)
Figure 12: Asia-Pacific Base Oil Market, by Hydraulic Oil, 2022-2028 (In $ Million)
Figure 13: Asia-Pacific Base Oil Market, by Metalworking Fluids, 2022-2028 (In $ Million)
Figure 14: Asia-Pacific Base Oil Market, by Other Applications, 2022-2028 (In $ Million)
Figure 15: Asia-Pacific Base Oil Market, Country Outlook, 2021 & 2028 (In %)
Figure 16: China Base Oil Market 2022-2028 (In $ Million)
Figure 17: Japan Base Oil Market 2022-2028 (In $ Million)
Figure 18: India Base Oil Market 2022-2028 (In $ Million)
Figure 19: South Korea Base Oil Market 2022-2028 (In $ Million)
Figure 20: Asean Countries Base Oil Market 2022-2028 (In $ Million)
Figure 21: Australia & New Zealand Base Oil Market 2022-2028 (In $ Million)
Figure 22: Rest of Asia-Pacific Base Oil Market 2022-2028 (In $ Million)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Exxon Mobil Corporation
  • 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

Methodology

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