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Global Base Oil Market 2022-2028

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    Report

  • 195 Pages
  • July 2022
  • Region: Global
  • Triton Market Research
  • ID: 5639785

Presence of notable players like Chevron Corporation drives the base oil market growth

MARKET OUTLOOK


The publisher's report highlights that the global base oil market is expected to surge at a CAGR of 3.42% in revenue over the forecasted period 2022-2028. In terms of volume, the market is anticipated to reach a CAGR of 3.95%.

The studied market’s growth is attributed to factors such as rising demand for high-grade oils from the automotive sector, environmental regulations demanding stricter performance standards, and a vast range of applications across various end-user segments. Further, the rising awareness of consumers and end-use industries toward the adoption of renewable base oil is expected to open new avenues for the base oil market.

However, the volatility in crude oil prices across different countries globally is majorly affecting the growth of this market.

REGIONAL OUTLOOK


The global base oil market includes North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa.

Globally, the Asia-Pacific is expected to witness the fastest growth rate in the market over the forecast years. In China, increasing demand for crude oil owing to rapid industrialization, economic growth, and escalating exports of refined petroleum products are boosting the market’s growth. Additionally, the country witnessed significant growth in the production and sales of automobile vehicles. In this regard, the OICA estimated that the total production of cars and commercial vehicles bolstered by over 1.5 million units within a year. Thus, these factors are widening the scope of the base oil market.

COMPETITIVE OUTLOOK


The notable companies studied in the base oil market include Avista Oil AG, GS Caltex Corporation, Neste Oyj, Nynas AB, Repsol SA, Chevron Corporation, Ergon Inc, S-Oil Corporation, Saudi Aramco, Sepahan Oil, Phillips 66 Company, Grupa Lotos, Exxon Mobil Corporation, PT Pertamina (Persero), and Shell Plc.

Chevron Corporation is a multinational energy company and one of the successor companies of Standard Oil. The company focuses on all aspects of natural gas and oil industries, including production, hydrocarbon exploration, refining, transport, marketing, sales and power generation, and chemicals manufacturing. The NEXBASE® range of base oils is one of its bestselling products. Chevron has its presence in over 180 countries globally and has headquarters in California, the United States. It was founded in 1879.

Table of Contents

1. Global 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. Global 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. Global 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. Global Base Oil Market - Regional Outlook (In Terms of Value: $ Million & Volume: Kiloton)
5.1. North America
5.1.1. Market by Group
5.1.2. Market by Application
5.1.3. Country Analysis
5.1.3.1. United States
5.1.3.2. Canada
5.2. Europe
5.2.1. Market by Group
5.2.2. Market by Application
5.2.3. Country Analysis
5.2.3.1. United Kingdom
5.2.3.2. Germany
5.2.3.3. France
5.2.3.4. Spain
5.2.3.5. Italy
5.2.3.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. Market by Group
5.3.2. Market by Application
5.3.3. Country Analysis
5.3.3.1. China
5.3.3.2. Japan
5.3.3.3. India
5.3.3.4. South Korea
5.3.3.5. Asean Countries
5.3.3.6. Australia & New Zealand
5.3.3.7. Rest of Asia-Pacific
5.4. Latin America
5.4.1. Market by Group
5.4.2. Market by Application
5.4.3. Country Analysis
5.4.3.1. Brazil
5.4.3.2. Mexico
5.4.3.3. Rest of Latin America
5.5. Middle East and Africa
5.5.1. Market by Group
5.5.2. Market by Application
5.5.3. Country Analysis
5.5.3.1. United Arab Emirates
5.5.3.2. Saudi Arabia
5.5.3.3. Turkey
5.5.3.4. South Africa
5.5.3.5. Rest of Middle East & Africa
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: Global Base Oil Market, by Regional Outlook, 2022-2028 (In $ Million)
Table 2: Global Base Oil Market, by Regional Outlook, 2022-2028 (In Kiloton)
Table 3: Vendor Scorecard
Table 4: Global Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 5: Global Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 6: Global Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 7: Global Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 8: Global Base Oil Market, by Regional Outlook, 2022-2028 (In $ Million)
Table 9: Global Base Oil Market, by Regional Outlook, 2022-2028 (In Kiloton)
Table 10: North America Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 11: North America Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 12: North America Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 13: North America Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 14: North America Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 15: North America Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 16: Europe Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 17: Europe Base Oil Market, by Country Outlook, 2022-2028 (In $ Kiloton)
Table 18: Europe Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 19: Europe Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 20: Europe Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 21: Europe Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 22: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 23: Asia-Pacific Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 24: Asia-Pacific Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 25: Asia-Pacific Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 26: Asia-Pacific Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 27: Asia-Pacific Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 28: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 29: Latin America Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 30: Latin America Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 31: Latin America Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 32: Latin America Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 33: Latin America Base Oil Market, by Application, 2022-2028 (In Kiloton)
Table 34: Middle East and Africa Base Oil Market, by Country Outlook, 2022-2028 (In $ Million)
Table 35: Middle East and Africa Base Oil Market, by Country Outlook, 2022-2028 (In Kiloton)
Table 36: Middle East and Africa Base Oil Market, by Group, 2022-2028 (In $ Million)
Table 37: Middle East and Africa Base Oil Market, by Group, 2022-2028 (In Kiloton)
Table 38: Middle East and Africa Base Oil Market, by Application, 2022-2028 (In $ Million)
Table 39: Middle East and Africa Base Oil Market, by Application, 2022-2028 (In Kiloton)
List of Figures
Figure 1: Market Attractiveness Index
Figure 2: Global Base Oil Market, by Group, 2021 & 2028 (In %)
Figure 3: Global Base Oil Market, by Group I, 2022-2028 (In $ Million)
Figure 4: Global Base Oil Market, by Group Ii, 2022-2028 (In $ Million)
Figure 5: Global Base Oil Market, by Group Iii, 2022-2028 (In $ Million)
Figure 6: Global Base Oil Market, by Group Iv, 2022-2028 (In $ Million)
Figure 7: Global Base Oil Market, by Group V, 2022-2028 (In $ Million)
Figure 8: Global Base Oil Market, by Application, 2021 & 2028 (In %)
Figure 9: Global Base Oil Market, by Automotive Oil, 2022-2028 (In $ Million)
Figure 10: Global Base Oil Market, by Industrial Oil, 2022-2028 (In $ Million)
Figure 11: Global Base Oil Market, by Greases, 2022-2028 (In $ Million)
Figure 12: Global Base Oil Market, by Hydraulic Oil, 2022-2028 (In $ Million)
Figure 13: Global Base Oil Market, by Metalworking Fluids, 2022-2028 (In $ Million)
Figure 14: Global Base Oil Market, by Other Applications, 2022-2028 (In $ Million)
Figure 15: Global Base Oil Market, Regional Outlook, 2021 & 2028 (In %)
Figure 16: United States Base Oil Market 2022-2028 (In $ Million)
Figure 17: Canada Base Oil Market 2022-2028 (In $ Million)
Figure 18: United Kingdom Base Oil Market 2022-2028 (In $ Million)
Figure 19: Germany Base Oil Market 2022-2028 (In $ Million)
Figure 20: France Base Oil Market 2022-2028 (In $ Million)
Figure 21: Spain Base Oil Market 2022-2028 (In $ Million)
Figure 22: Italy Base Oil Market 2022-2028 (In $ Million)
Figure 23: Rest of Europe Base Oil Market 2022-2028 (In $ Million)
Figure 24: China Base Oil Market 2022-2028 (In $ Million)
Figure 25: Japan Base Oil Market 2022-2028 (In $ Million)
Figure 26: India Base Oil Market 2022-2028 (In $ Million)
Figure 27: South Korea Base Oil Market 2022-2028 (In $ Million)
Figure 28: Asean Countries Base Oil Market 2022-2028 (In $ Million)
Figure 29: Australia & New Zealand Base Oil Market 2022-2028 (In $ Million)
Figure 30: Rest of Asia-Pacific Base Oil Market 2022-2028 (In $ Million)
Figure 31: Brazil Base Oil Market 2022-2028 (In $ Million)
Figure 32: Mexico Base Oil Market 2022-2028 (In $ Million)
Figure 33: Rest of Latin America Base Oil Market 2022-2028 (In $ Million)
Figure 34: United Arab Emirates Base Oil Market 2022-2028 (In $ Million)
Figure 35: Saudi Arabia Base Oil Market 2022-2028 (In $ Million)
Figure 36: Turkey Base Oil Market 2022-2028 (In $ Million)
Figure 37: South Africa Base Oil Market 2022-2028 (In $ Million)
Figure 38: Rest of Middle East & Africa 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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