Base oils are lubrication grade oils used to manufacture motor oil, lubricating greases, and metal processing fluids. Base oil is obtained from refining crude oil or from chemical synthesis. The quality of lubricant produced depends upon the base oil type used for refining or on the production method employed in producing the base oil. The boiling point of base oil ranges from 550 F to 1050 F.
MARKET DYNAMICS
The base oil market is anticipated to grow in the forecast period owing to driving factors such as growing demands for high-grade oils in the automotive industry in conjunction with the global industrial growth. However, fluctuations in prices of crude oil negatively impact the growth of the base oil market. On the other hand, a global shift of group I base oil to group II and III are likely to provide key opportunities to the market players operating in the base oil market during the forecast period.
MARKET SCOPE
The "Global Base Oil Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of base oil market with detailed market segmentation by type, application, and geography. The global base oil market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading base oil market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global base oil market is segmented on the basis of type and application. Based type, the market is segmented as Group I, Group II, Group III, Group IV, and Group V. On the basis of the application the market is segmented as automotive oil, industrial oil, metalworking fluids, hydraulic oil, greases, and others.
REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global base oil market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The base oil market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting base oil market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the base oil market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global base oil market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The base oil market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting base oil market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the base oil market in these regions.
MARKET PLAYERSThe reports cover key developments in the base oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from base oil market are anticipated to lucrative growth opportunities in the future with the rising demand for base oil in the global market. Below mentioned is the list of few companies engaged in the base oil market.
The report also includes the profiles of key base oil companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- BP p.l.c.
- Chevron Corporation
- Ergon, Inc.
- Evonik Industries AG
- Exxon Mobil Corporation
- H&R GROUP
- Nynas AB
- PETRONAS Lubricants International
- Royal Dutch Shell Plc
- Total
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Base Oil Market - By Type
1.3.2 Base Oil Market - By Application
1.3.3 Base Oil Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. BASE OIL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BASE OIL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BASE OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. BASE OIL - GLOBAL MARKET OVERVIEW
6.2. BASE OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BASE OIL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GROUP I
7.3.1. Overview
7.3.2. Group I Market Forecast and Analysis
7.4. GROUP II
7.4.1. Overview
7.4.2. Group II Market Forecast and Analysis
7.5. GROUP III
7.5.1. Overview
7.5.2. Group III Market Forecast and Analysis
7.6. GROUP IV
7.6.1. Overview
7.6.2. Group IV Market Forecast and Analysis
7.7. GROUP V
7.7.1. Overview
7.7.2. Group V Market Forecast and Analysis
8. BASE OIL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE OIL
8.3.1. Overview
8.3.2. Automotive Oil Market Forecast and Analysis
8.4. INDUSTRIAL OIL
8.4.1. Overview
8.4.2. Industrial Oil Market Forecast and Analysis
8.5. METALWORKING FLUIDS
8.5.1. Overview
8.5.2. Metalworking Fluids Market Forecast and Analysis
8.6. HYDRAULIC OIL
8.6.1. Overview
8.6.2. Hydraulic Oil Market Forecast and Analysis
8.7. GREASES
8.7.1. Overview
8.7.2. Greases Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BASE OIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Base Oil Market Overview
9.1.2 North America Base Oil Market Forecasts and Analysis
9.1.3 North America Base Oil Market Forecasts and Analysis - By Type
9.1.4 North America Base Oil Market Forecasts and Analysis - By Application
9.1.5 North America Base Oil Market Forecasts and Analysis - By Countries
9.1.5.1 United States Base Oil Market
9.1.5.1.1 United States Base Oil Market by Type
9.1.5.1.2 United States Base Oil Market by Application
9.1.5.2 Canada Base Oil Market
9.1.5.2.1 Canada Base Oil Market by Type
9.1.5.2.2 Canada Base Oil Market by Application
9.1.5.3 Mexico Base Oil Market
9.1.5.3.1 Mexico Base Oil Market by Type
9.1.5.3.2 Mexico Base Oil Market by Application
9.2. EUROPE
9.2.1 Europe Base Oil Market Overview
9.2.2 Europe Base Oil Market Forecasts and Analysis
9.2.3 Europe Base Oil Market Forecasts and Analysis - By Type
9.2.4 Europe Base Oil Market Forecasts and Analysis - By Application
9.2.5 Europe Base Oil Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Base Oil Market
9.2.5.1.1 Germany Base Oil Market by Type
9.2.5.1.2 Germany Base Oil Market by Application
9.2.5.2 France Base Oil Market
9.2.5.2.1 France Base Oil Market by Type
9.2.5.2.2 France Base Oil Market by Application
9.2.5.3 Italy Base Oil Market
9.2.5.3.1 Italy Base Oil Market by Type
9.2.5.3.2 Italy Base Oil Market by Application
9.2.5.4 United Kingdom Base Oil Market
9.2.5.4.1 United Kingdom Base Oil Market by Type
9.2.5.4.2 United Kingdom Base Oil Market by Application
9.2.5.5 Russia Base Oil Market
9.2.5.5.1 Russia Base Oil Market by Type
9.2.5.5.2 Russia Base Oil Market by Application
9.2.5.6 Rest of Europe Base Oil Market
9.2.5.6.1 Rest of Europe Base Oil Market by Type
9.2.5.6.2 Rest of Europe Base Oil Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Base Oil Market Overview
9.3.2 Asia-Pacific Base Oil Market Forecasts and Analysis
9.3.3 Asia-Pacific Base Oil Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Base Oil Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Base Oil Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Base Oil Market
9.3.5.1.1 Australia Base Oil Market by Type
9.3.5.1.2 Australia Base Oil Market by Application
9.3.5.2 China Base Oil Market
9.3.5.2.1 China Base Oil Market by Type
9.3.5.2.2 China Base Oil Market by Application
9.3.5.3 India Base Oil Market
9.3.5.3.1 India Base Oil Market by Type
9.3.5.3.2 India Base Oil Market by Application
9.3.5.4 Japan Base Oil Market
9.3.5.4.1 Japan Base Oil Market by Type
9.3.5.4.2 Japan Base Oil Market by Application
9.3.5.5 South Korea Base Oil Market
9.3.5.5.1 South Korea Base Oil Market by Type
9.3.5.5.2 South Korea Base Oil Market by Application
9.3.5.6 Rest of Asia-Pacific Base Oil Market
9.3.5.6.1 Rest of Asia-Pacific Base Oil Market by Type
9.3.5.6.2 Rest of Asia-Pacific Base Oil Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Base Oil Market Overview
9.4.2 Middle East and Africa Base Oil Market Forecasts and Analysis
9.4.3 Middle East and Africa Base Oil Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Base Oil Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Base Oil Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Base Oil Market
9.4.5.1.1 South Africa Base Oil Market by Type
9.4.5.1.2 South Africa Base Oil Market by Application
9.4.5.2 Saudi Arabia Base Oil Market
9.4.5.2.1 Saudi Arabia Base Oil Market by Type
9.4.5.2.2 Saudi Arabia Base Oil Market by Application
9.4.5.3 U.A.E Base Oil Market
9.4.5.3.1 U.A.E Base Oil Market by Type
9.4.5.3.2 U.A.E Base Oil Market by Application
9.4.5.4 Rest of Middle East and Africa Base Oil Market
9.4.5.4.1 Rest of Middle East and Africa Base Oil Market by Type
9.4.5.4.2 Rest of Middle East and Africa Base Oil Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Base Oil Market Overview
9.5.2 South and Central America Base Oil Market Forecasts and Analysis
9.5.3 South and Central America Base Oil Market Forecasts and Analysis - By Type
9.5.4 South and Central America Base Oil Market Forecasts and Analysis - By Application
9.5.5 South and Central America Base Oil Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Base Oil Market
9.5.5.1.1 Brazil Base Oil Market by Type
9.5.5.1.2 Brazil Base Oil Market by Application
9.5.5.2 Argentina Base Oil Market
9.5.5.2.1 Argentina Base Oil Market by Type
9.5.5.2.2 Argentina Base Oil Market by Application
9.5.5.3 Rest of South and Central America Base Oil Market
9.5.5.3.1 Rest of South and Central America Base Oil Market by Type
9.5.5.3.2 Rest of South and Central America Base Oil Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BASE OIL MARKET, KEY COMPANY PROFILES
11.1. BP P.L.C.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CHEVRON CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ERGON, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EVONIK INDUSTRIES AG
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. EXXON MOBIL CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. H & R GROUP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NYNAS AB
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. PETRONAS LUBRICANTS INTERNATIONAL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ROYAL DUTCH SHELL PLC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOTAL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. BP p.l.c.
2. Chevron Corporation
3. Ergon, Inc.
4. Evonik Industries AG
5. Exxon Mobil Corporation
6. H&R GROUP
7. Nynas AB
8. PETRONAS Lubricants International
9. Royal Dutch Shell Plc
10. Total
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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