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Base Oil Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMCH21532

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Published on

November 2021

Total pages

233

Table of Content

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About the Report

About the Report

Global demand of base oil is growing at a moderate rate owing to saturated industrial sector and slow growth in automotive sector. However, during the past couple of decades automotive and industrial sectors were the key factors for the growth of the base oil market owing to the increasing industrialization across the globe and growing consumer purchasing power thus resulted in higher sales of automobiles. For instance, production of automobiles increased to 91.7 million in 2019 compared to 89.7 million in 2014. However, in 2020 production decreased to 77.6 million due to manufacturing shutdown in order to curtail the spread of COVID-19. However, rapid adoption of electric vehicles has opened the door for the lubricant manufacturers to focus on electric vehicles lubricants. Countries are focusing on electric vehicles to meet their net zero emission, for instance, according to IEA, for 2030, the Net Zero Emissions by 2050 Scenario projects 300 million electric cars on the road and they account for over 60% of new car sales, compared with only 4.6% in 2020
Based on group, the market is categorized into group I, group II, group III, group IV, and group V. Among these, Group II base oil accounted for the dominating market share in 2020 and is likely to retain its position during the forecast period owing to its higher efficiency and lower emission relative to group I base oil. Further, industries are finding easy to transit from group I base oil to group II base oil by changing in work techniques, work with new base oil manufacturers, and changing equipment. As a result, penetration of base oil has been increased in the industries
Based on application, the market is categorized into automotive oil, industrial oil, metalworking fluid, greases, hydraulic oil, and others. Among these, automotive application held the significant market share owing to large base of automobiles and increasing demand of automobiles in developing regions like Asia Pacific because of rising purchasing power. Further, increasing automotive emission regulation is expected to fuel the market of lubricants globally, as lubricant reduce wear and tear of equipment thus improving the performance of automobiles
For a better understanding of the market adoption of Aerospace Material, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific held the dominating position in the global base oil market and is expected to showcase fastest growth rate during the forecast period. This can be mainly attributed to the large and growing demand of automobiles and increasing industrial activities in countries like China, India, and ASEAN region
Some of the major players operating in the market include Chevron Corporation, Exxon Mobil Corporation, S-Oil Corporation, Motiva Enterprises LLC, SK Innovation Co. Ltd., Saudi Aramco, Hindustan Petroleum Corporation Limited, Royal Dutch Shell Plc, Neste Oyj, and Avista Oil AG

Products


Companies

Chevron Corporation, Exxon Mobil Corporation, S-Oil Corporation, Motiva Enterprises LLC, SK Innovation Co. Ltd., Saudi Aramco, Hindustan Petroleum Corporation Limited, Royal Dutch Shell Plc, Neste Oyj, and Avista Oil AG

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Base Oil Market

2.2. Research Methodology of the Base Oil Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Base Oil Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL BASE OIL MARKET COVID-19 IMPACT

6 GLOBAL BASE OIL MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY GROUP

7.1. Group I

7.2. Group II

7.3. Group III

7.4. Group IV

7.5. Group V

8 MARKET INSIGHTS BY APPLICATION

8.1. Automotive Oil

8.2. Industrial Oil

8.3. Metalworking Fluid

8.4. Greases

8.5. Hydraulic Oil

8.6. Others

9 MARKET INSIGHTS BY REGION

9.1. North America Base Oil Market

9.1.1. United States

9.1.2. Canada

9.1.3. Rest of North America

9.2. Europe Base Oil Market

9.2.1. Germany

9.2.2. France

9.2.3. United Kingdom

9.2.4. Spain

9.2.5. Rest of Europe

9.3. Asia Pacific Base Oil Market

9.3.1. China

9.3.2. Japan

9.3.3. India

9.3.4. Australia

9.3.5. Rest of Asia Pacific

9.4. Rest of World Base Oil Market

10 BASE OIL MARKET DYNAMICS

10.1. Market Drivers

10.2. Market Challenges

10.3. Impact Analysis

11 BASE OIL MARKET OPPORTUNITIES

12 BASE OIL MARKET TRENDS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

14.1. Demand Side Analysis

14.2. Supply Side Analysis

14.2.1. Top Product Launches

14.2.2. Top Business Partnerships

14.2.3. Top Business Expansions, Investments and Divestitures

14.2.4. Top Merger and Acquisitions

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

16.1. Competitive Landscape

16.1.1. Company Shares, By Revenue

17 COMPANY PROFILED

17.1. Chevron Corporation

17.2. Exxon Mobil Corporation

17.3. S-Oil Corporation

17.4. Motiva Enterprises LLC

17.5. SK Innovation Co. Ltd.

17.6. Saudi Aramco

17.7. Hindustan Petroleum Corporation Limited

17.8. Royal Dutch Shell Plc

17.9. Neste Oyj

17.10. Avista Oil AG

18 DISCLAIMER

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