Asia-pacific Base Oil Market Forecast 2022-2030

Asia-pacific Base Oil Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific base oil market is forecasted to grow with a CAGR of 3.54% in terms of revenue and 4.07% in terms of volume over the projected period of 2022 to 2030. Some of the key drivers ascribed to the region’s market growth include the surging adoption as well as deployment of engine oil, greases, motor oil, and various other automotive lubricants derived from base oils, the rise in production and sales of automobiles in emerging nations, and the launch of innovative and advanced base oil products.

MARKET INSIGHTS

The Asia-Pacific base oil market growth assessment evaluates the study of Japan, India, Indonesia, South Korea, Australia & New Zealand, Malaysia, Thailand, China, and Rest of Asia-Pacific. There has been notable growth in the manufacture of automobiles across India over recent years. Aligning with this, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the overall manufacturing of cars and commercial vehicles in India reached over 4.399 million units in 2021, compared to 3.394 million units in 2022.

Such growth is further anticipated to increase over the upcoming years, thus fueling the demand for base oil products in order to achieve higher fuel efficiency as well as improved performance. On the other hand, key market players are also undertaking a diverse range of strategic initiatives, thus fortifying the demand and consumption of base oil in India. As a result, these factors are set to provide the Asia-Pacific base oil market with significant growth opportunities during the forecast period.

COMPETITIVE INSIGHTS

Key players operating in the market include GS Caltex Corporation, S-Oil Corporation, PT Pertamina, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments