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Latin America Base Oil Market 2022-2028

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    Report

  • 105 Pages
  • July 2022
  • Region: Latin America
  • Triton Market Research
  • ID: 5639779

The market in the region is driven by the growth of lubricants, base oil, automotive industry and gas exploration activities.

MARKET OUTLOOK


According to this report, the Latin America base oil market is expected to fuel at a revenue CAGR of 3.77% and volume CAGR of 4.28% during the forecasting period of 2022-2028. The market in this region is evaluated across Brazil, Mexico and Rest of Latin America.

The base oil market in Brazil is expected to have positive growth in the forecasted period due to the strategic initiatives market players took to develop base oil products along with growth in the oil extraction and exploration activities. For instance, Brazil produced an average of 2.94 million barrels of crude oil per day in 2020, up more than 150 million barrels per day on average from 2019, as per the United States Energy Information Administration.

In Mexico, the Pemex refinery declared in 2022 that it would increase its output of base oil. In an effort to lessen its reliance on fuel and lubricant imports, the Mexican government wants state-owned Petroleos Mexicanos to increase base oil production after years of reduced output.

The significant presence of industry giants, product developments & launches, investments, expansion of the lubricants, base oil & automotive industries, rise in oil & gas exploration activities, etc., are some of the factors expected to support the growth of the base oil market in the Latin American region.

COMPETITIVE OUTLOOK


Repsol SA, Ergon Inc, GS Caltex Corporation, PT Pertamina (Persero), Grupa Lotos, S-Oil Corporation, Phillips 66 Company, and Chevron Corporation are some of the major dominators of the base oil market.

Table of Contents

1. Latin America 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
3. Latin America 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. Latin America 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. Latin America Base Oil Market - Country Outlook (In Terms of Value: $ Million & Volume: Kiloton)
5.1. Brazil
5.2. Mexico
5.3. Rest of Latin America
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: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 2: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 3: Vendor Scorecard
Table 4: Latin America Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 5: Latin America Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 6: Latin America Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 7: Latin America Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 8: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 9: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
List of Figures
Figure 1: Market Attractiveness Index
Figure 2: Latin America Base Oil Market, by Group, 2021 & 2028 (In %)
Figure 3: Latin America Base Oil Market, by Group I, 2022-2028 (In $ Million)
Figure 4: Latin America Base Oil Market, by Group Ii, 2022-2028 (In $ Million)
Figure 5: Latin America Base Oil Market, by Group Iii, 2022-2028 (In $ Million)
Figure 6: Latin America Base Oil Market, by Group Iv, 2022-2028 (In $ Million)
Figure 7: Latin America Base Oil Market, by Group V, 2022-2028 (In $ Million)
Figure 8: Latin America Base Oil Market, by Application, 2021 & 2028 (In %)
Figure 9: Latin America Base Oil Market, by Automotive Oil, 2022-2028 (In $ Million)
Figure 10: Latin America Base Oil Market, by Industrial Oil, 2022-2028 (In $ Million)
Figure 11: Latin America Base Oil Market, by Greases, 2022-2028 (In $ Million)
Figure 12: Latin America Base Oil Market, by Hydraulic Oil, 2022-2028 (In $ Million)
Figure 13: Latin America Base Oil Market, by Metalworking Fluids, 2022-2028 (In $ Million)
Figure 14: Latin America Base Oil Market, by Other Applications, 2022-2028 (In $ Million)
Figure 15: Latin America Base Oil Market, Country Outlook, 2021 & 2028 (In %)
Figure 16: Brazil Base Oil Market 2022-2028 (In $ Million)
Figure 17: Mexico Base Oil Market 2022-2028 (In $ Million)
Figure 18: Rest of Latin America 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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