Base Oil Market Size, Share & Trends Analysis Report By Product (Group I, Group II, Group III), By Application (Automotive Oils, Process Oils, Industrial Oils), By Region, And Segment Forecasts, 2023 - 2030

Base Oil Market Size, Share & Trends Analysis Report By Product (Group I, Group II, Group III), By Application (Automotive Oils, Process Oils, Industrial Oils), By Region, And Segment Forecasts, 2023 - 2030


Base Oil Market Growth & Trends


The global base oil market size is expected to reach USD 29.89 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2023 to 2030. This is attributed to rising demand for base stocks in the automotive and industrial applications. Lubricants are mainly used in gearboxes, lubricants & transmission oils, and diesel engine oils, in various automotive applications including commercial vehicles, motorcycles, and passenger cars. The automotive industry is one of the largest consumers of base oils that are growing at a faster pace.

This industry is currently facing massive shifts in terms of production from group I to group II and III. Although the shift in the sector is gradual, various factors including government directives, feedstock choices, and demand patterns play a major role in propelling the market. Also, key industry participants are expanding their businesses in the Asia Pacific region, owing to the rising industrial and automotive sectors in this region, which can further contribute to group II product demand.

Moreover, base oil manufacturing technologies adopted worldwide would further reinforce the demand for the products to suffice the growing demand for end-use utility productions. Meanwhile, prices and availability of crude oil are anticipated to largely affect the production processes globally.

The turbulence in the sector has had a significant impact on multiple other dependent industries such as base oils, lubricants, and others. Since 2019, the petroleum market has faced critical challenges as vehicle efficiency measures taken by governments worldwide to curb carbon emissions led to lower consumption of transport fuel. However, the market witnesses a strong presence of key players that competes to dominate the market and to gain strategic and competitive advantage over the other players.

Base Oil Market Report Highlights

  • Group V product witnessed the fastest growth rate of 7.1%, owing to its increasing use as an additive to other base oil products, and the usage of high-performance lubricants due to OEM recommendations
  • Global base oil market is projected to benefit from the expansion of the base oil production capacity of emerging economies. As automobile manufacturers globally focus on downsizing their engines and prolonging the oil change intervals, these factors are anticipated to stifle the growth in the coming years
  • The automotive oil application witnessed for the fastest growth rate of nearly 5.8%, as we can see growth in the sales of consumer automotive such as trucks, buses, and other forms of public transport
  • Asia Pacific region witnessed the fastest growth rate globally with 6.2%. This is because of the high consumption of automotive fuel in this region, especially in China, India, and Japan
  • The competition is high due to numerous companies engaging in strategic divestures and investments in the upstream facilities
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Base Oil Production Capacity Trends
3.3 Industry Value Chain Analysis
3.3.1 Raw material Trends
3.3.1 Manufacturing Trends
3.3.2 Sales channel analysis
3.4 Price Trend Analysis
3.5 Regulatory Framework
3.6 Impact of COVID-19 Pandemic
3.7 Trade Analysis, 2018-2021
3.7.1 List of Top Importing Countries
3.7.2 List of Top Exporting Countries
3.8 Market Dynamics
3.9 Market Driver Analysis
3.9.1 Rapidly growing automotive Industry
3.9.2 Increasing demand for high performance Base Oils
3.9.2.1 Growing demand for base oils from marine industry
3.9.3 Market Restraint Analysis
3.9.3.1 volatility in crude oil prices
3.10 Industry Opportunity Trends
3.11 Business Environment Analysis
3.11.1 Porter’s Analysis
3.11.2 PESTEL Analysis
Chapter 4 Base Oil Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis & Market Share, 2022 & 2030 (Kilotons) (USD Million)
4.2 Base Oil Market Size, Forecasts, and Trend Analysis, By Product, 2018 - 2030 (Kilotons) (USD Million)
4.2.1 Group I
4.2.1.1 Group I base oil market size & forecasts and trend analysis, 2018 - 2030 (Kilotons) (USD million)
4.2.2 Group II
4.2.2.1 Group II base oil market size & forecasts and trend analysis, 2018 - 2030 (Kilotons) (USD million)
4.2.3 Group III
4.2.3.1 Group III base oil market size & forecasts and trend analysis, 2018 - 2030 (Kilotons) (USD million)
4.2.4 Group IV
4.2.4.1 Group IV base oil market size & forecasts and trend analysis, 2018 - 2030 (Kilotons) (USD million)
4.2.5 Group V
4.2.5.1 Group V base oil market size & forecasts and trend analysis, 2018 - 2030 (Kilotons) (USD million)
Chapter 5 Base Oil Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030 (Kilotons) (USD Million)
5.2 Base Oil Market Size, Forecasts, and Trend Analysis, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.2.1 Automobile Oils
5.2.1.1 Base Oil market size & forecasts and trend analysis, in Automotive Oil, 2018 - 2030 (Kilotons) (USD million)
5.2.2 Process Oils
5.2.2.1 Base Oil market size & forecasts and trend analysis, in Process Oil, 2018 - 2030 (Kilotons) (USD million)
5.2.3 Hydraulic Oils
5.2.3.1 Base Oil market size & forecasts and trend analysis, in Hydraulic Oil, 2018 - 2030 (Kilotons) (USD million)
5.2.4 Metalworking Fluids
5.2.4.1 Base Oil market size & forecasts and trend analysis, in Metalworking fluids, 2018 - 2030 (Kilotons) (USD million)
5.2.5 Industrial Oils
5.2.5.1 Base Oil market size & forecasts and trend analysis, in Industrial Oil, 2018 - 2030 (Kilotons) (USD million)
Chapter 6 Base Oil Market: Regional Estimates & Trend Analysis
6.1 Regional Movement Analysis & Market Share, 2022 & 2030 (Kilotons) (USD Million)
6.2 Base Oil Market Size, Forecasts, and Trend Analysis, By Region, 2018 - 2030 (Kilotons) (USD Million)
6.2.1 North America
6.2.1.1 North Ameica Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.2 North Ameica Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.3 U.S.
6.2.1.3.1 US Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.3.2 US Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.4 Canada
6.2.1.4.1 Canada Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.4.2 Canada Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.5 Mexico
6.2.1.5.1 Mexico Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.1.5.2 Mexico Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2 Europe
6.2.2.1 Europe Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.2 Europe Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.3 Germany
6.2.2.3.1 Germany Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.3.2 Germany Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.4 France
6.2.2.4.1 France Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.4.2 France Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.5 U.K.
6.2.2.5.1 UK Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.5.2 UK Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.6 Italy
6.2.2.6.1 Italy Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.6.2 Italy Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.7 Spain
6.2.2.7.1 Spain Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.2.7.2 Spain Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3 Asia Pacific
6.2.3.1 Asia Pacific Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.2 Asia Pacific Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.3 China
6.2.3.3.1 China Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.3.2 China Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.4 India
6.2.3.4.1 India Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.4.2 India Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.5 Japan
6.2.3.5.1 Japan Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.5.2 Japan Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.6 Thailand
6.2.3.6.1 Thailand Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.6.2 Thailand Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.7 Malaysia
6.2.3.7.1 Malaysia Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.3.7.2 Malaysia Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.4 Central & south america
6.2.4.1 Central & South Ameica Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.2 Central & South Ameica Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.3 Brazil
6.2.4.3.1 Brazil Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.3.2 Brazil Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.4 Argentina
6.2.4.4.1 Argentina Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.4.2 Argentina Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.5 Middle East & Africa
6.2.5.1 Middle East & Africa Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.2 Middle East & Africa Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.3 Saudi Arabia
6.2.5.3.1 Saudi Arabia Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.3.2 Saudi Arabia Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.4 South Africa
6.2.5.4.1 South Africa Base Oil market volume & revenue, by product, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.4.2 South Africa Base Oil market volume & revenue, by application, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Base Oil Market - Competitive Analysis
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Company Categorization
7.3 Company Market Share Analysis, 2022
7.4 Company Heat Map Analysis
7.5 Strategy Mapping
Chapter 8 Company Listing
8.1 CNOOC Limited
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Strategic Initiatives
8.2 PetroCanada Lubricants Inc.
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Strategic Initiatives
8.3 Petroleum & Chemical Corp. (SINOPEC)
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Strategic Initiatives
8.4 PETRONAS Lubricants International
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.5 PT Pertamina (Persero)
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Strategic Initiatives
8.6 PetroChina Co., Ltd.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Strategic Initiatives
8.7 Exxon Mobil Corporation
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Abu Dhabi National Oil Company
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.8.4 Strategic Initiatives
8.9 Chevron Corporation
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
8.10 Shell plc
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Strategic Initiatives
8.11 Indian Oil Corporation Ltd.
8.11.1 Company Overview
8.11.2 Financial Performance
8.11.3 Product Benchmarking
8.11.4 Strategic Initiatives
8.12 BP p.l.c.
8.12.1 Company Overview
8.12.2 Financial Performance
8.12.3 Product Benchmarking
8.13 Saudi Arabian Oil Co.
8.13.1 Company Overview
8.13.2 Financial Performance
8.13.3 Product Benchmarking
8.13.4 Strategic Initiatives
8.14 Sepahan Oil
8.14.1 Company Overview
8.14.2 Financial Performance
8.14.3 Product Benchmarking
8.15 Bahrain Lube Base Oil Company
8.15.1 Company Overview
8.15.2 Financial Performance
8.15.3 Product Benchmarking
8.16 LUKOIL
8.16.1 Company Overview
816.2 Financial Performance
8.16.3 Product Benchmarking
8.16.4 Strategic Initiatives
8.17 SK Lubricants Co. Ltd.
8.17.1 Company Overview
8.17.2 Financial Performance
8.17.3 Product Benchmarking
8.18 H&R OWS Chemie GmbH & Co. KG
8.18.1 Company Overview
8.18.2 Financial Performance
8.18.3 Product Benchmarking
8.19 Bharat Petroleum Corporation Limited
8.19.1 Company Overview
8.19.2 Financial Performance
8.19.3 Product Benchmarking
8.20 GS Caltex Corporation
8.20.1 Company Overview
8.20.2 Financial Performance
8.20.3 Product Benchmarking
8.21 Neste
8.21.1 Company Overview
8.21.2 Financial Performance
8.21.3 Product Benchmarking
8.22 Repsol
8.22.1 Company Overview
8.22.2 Financial Performance
8.22.3 Product Benchmarking 

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