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Published Date: 2015-06-09Number of Pages: 207

Base Oil Market by Product (Group I, Group II, Group III, and Others) and by Application (Automotive Oils, Process Oils, Industrial Oils, Metalworking Fluids, Hydraulic Oils, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2020

 

Base oils are lubricant grade oils produced either through crude oil refining (mineral base oil) or chemical synthesis processes (synthetic base oil). Depending upon their chemical structure, base oils may be classified as either paraffinic or naphthenic. Base oils are generally obtained from secondary processing units of refineries. Currently, base oils are obtained using two processes: refining of crude oil and synthesis of relatively pure compounds. They are primarily utilized in the manufacture of lubricants. The base oils utilized for the formulation of lubricants are mineral, synthetic, or vegetable-based. The American Petroleum Institute (API) has developed a base oil classification system, which segments the base oils into five major groups (Group I, II, III, IV, and V). These groups are classified on the basis of the percentage of saturates, sulfur content, and viscosity index.

 

The automotive industry is one of the key end-users of lubricants. The automotive industry preferably uses naphthenic oils as lubricating oils, greases, or as cutting fluids during metalworking activities. Rapid growth of the automotive sector globally is expected to increase the demand for base oils and lubricants. Rapid population growth and urbanization are leading to the continuous rise in vehicle production volumes globally. The speedy rise in automobile demand is likely to increase the demand for finished lubricants and base oils during the forecast period. Furthermore, the shift towards stricter emission norms and better fuel economy would entail the use of better quality lubricants. However, dwindling supply of sweet crude, particularly in regions such as North America and Europe coupled with less impurity and lower prices of sour crude is forcing refiners to change their preference of crude oil to sour crude. This shift in preference from sweet crude to sour crude by refiners is expected to decrease the overall base oils yield from crude oil. This is likely to negatively impact the growth of the base oils market and the impact of this restraint is likely to alleviate during the forecast period.     

 

Furthermore, the recent slump in crude oil prices has also negatively affected the base oil market. Base oil prices in most of the regions, particularly Asia Pacific, are expected to remain stable-to-soft in the first quarter of 2015. Group II is expected to register a steep decline in base oil prices in the near future. The spot prices of Group II would reflect a drop of about 15%-17% in 2015, globally. Rapid industrialization in emerging economies, especially Brazil, Russia, India, and China (BRIC) is likely to stimulate the demand for base oils in the near future. Moreover, technological advances such as Gas-To-Liquid (GTL) technology would be one of the key opportunity areas for registering growth in the market. The lubricant base stocks produced from the GTL refining process are commonly referred to as ISO Paraffin. These have currently emerged as viable alternatives for the conventional Group III and Group IV lubricants used for manufacturing high efficiency lubricants.

 

The key base oil products considered are Group I, Group II, Group III, and others. Group I base oils accounted for a major market share in 2014 and are expected to remain dominant throughout the forecast period. It is estimated that Group I base oils would witness a downward trend in terms of their consumption in both North America and Europe. Substitution of Group I by higher quality Group II and Group III base oils is expected to be the primary reason for the reduction in demand for Group I base oils in the years to come. However, certain important grades of Group I such as Bright Stock are likely to retain their popularity in the market. This grade of base oils is likely to grow in regions such as Asia Pacific, the Middle East, and South America. Increasing preference for Group II and Group III base oils in both the automotive and industrial oil segments would drive growth of these segments in the near future.

 

Automotive oils accounted for the major application share in the global base oils market in 2014. This segment is anticipated to remain dominant throughout the forecast period. The global automotive lubricants sector has been witnessing a change in preference with respect to the base oils used in blending plants. The sector has been gradually migrating towards high performance base oils (Group II and Group III). Currently, Group III base oils are emerging as the most preferred base stock in the manufacture of finished lubricants for the automotive sector across the globe. With tightening emission standards, the demand for high quality lubricants is likely to grow by several times over during the forecast period. In order to cater to this increasing demand, there is likely to be a rise in the consumption of Group II and Group III base oils in the near future.    

 

Key players in the market include Exxon Mobile Corporation, Royal Dutch Shell plc, SK Lubricants Co. Ltd., and Chevron Corporation. Other market players profiled in this research report include British Petroleum plc, Sinopec Group, GS Caltex Corporation, MOGoil GmbH, PetroChina Company Limited, Phillips 66 Company, and S-Oil Corporation.

 

 

 

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Market Segmentation

1.4 Research Methodology

 

Chapter 2 Executive Summary


Chapter 3 Global Base Oil Market – Industry Analysis

3.1 Introduction

      3.1.1 History of Base Oils and Production Method

              3.1.1.1 Base Oil Production by Refining Process

              3.1.1.2 Base Oil Production by Synthetic Process

      3.1.2 Base Oil Groups

3.2 Value Chain Analysis

3.3 Market Dynamics

      3.3.1 Market Drivers

              3.3.1.1 Growth in Automotive Industry Resulting in Increased Demand for Finished Lubricants

              3.3.1.2 Stringent Emission Standards Globally Resulting in Change in Lubricant Formulation Methods

              3.3.1.3 Rapid Industrialization in Emerging Economies Propels Demand for Lubricants by Various End User Segments

      3.3.2 Market Restraints

              3.3.2.1 Gradual Shift to Heavy, Sour Crude Oil by Refiners will Negatively Impact Base Oil Production

              3.3.2.2 Plummeting Crude Oil Prices negatively affecting Base Oil Revenues

      3.3.3 Market Opportunity

              3.3.3.1 Gas-to-Liquid Technology Likely to Increase Supply of Highly Pure and Efficient Base Oils at Competitive Prices in Future

3.4 Porter’s Five Forces Analysis

      3.4.1 Bargaining Power of Suppliers

      3.4.2 Bargaining Power of Buyers

      3.4.3 Threat from Substitutes

      3.4.4 Threat from New Entrants

      3.4.5 Degree of Competition

3.5 Market Attractiveness Analysis

      3.5.1 Market Attractiveness Analysis of Global Base Oil Market, by Product, 2013

3.6 Company Market Share Analysis

      3.6.1 Global Base Oil Market: Company Market Share Analysis, 2013

 

Chapter 4 Global Base Oil Market – Product Analysis

4.1 Global Base Oil Market: Product Analysis Overview

      4.1.1 Global Base Oil Demand Estimates and Forecast, by Product, 2014 & 2020 (Kilo Tons)

4.2 Group I

      4.2.1 Global Group I Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      4.2.2 SN150

              4.2.2.1 Global SN150 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.2.3 BS150

              4.2.3.1 Global BS150 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.2.4 SN500

              4.2.4.1 Global SN500 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.2.5 Others

              4.2.5.1 Global Others (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

4.3 Group II

      4.3.1 Global Group II Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      4.3.2 150N

              4.3.2.1 Global 150N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.3.3 500N

              4.3.3.1 Global 500N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.3.4 600N

              4.3.4.1 Global 600N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.3.5 Others

              4.3.5.1 Global Others (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

4.4 Group III

      4.4.1 Global Group III Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      4.4.2 2cSt

              4.4.2.1 Global 2cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      4.4.3 4cSt

              4.4.3.1 Global 4cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      4.4.4 6cSt

              4.4.4.1 Global 6cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

      4.4.5 8cSt

              4.4.5.1 Global 8cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

4.5 Others

      4.5.1 Global Others Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

 

Chapter 5 Global Base Oil Market – Application Analysis

5.1 Global Base Oil Market: Application Overview

      5.1.1 Global Base Oil Demand Estimates and Forecast, by Application, 2014 & 2020 (Kilo Tons)

5.2 Automotive Oils

      5.2.1 Global Automotive Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

5.3 Process Oils

      5.3.1 Global Process Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

5.4 Industrial Oils

      5.4.1 Global Industrial Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

5.5 Metalworking Fluids

      5.5.1 Global Metalworking Fluids Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

5.6 Hydraulic Oils

      5.6.1 Global Hydraulic Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

5.7 Others

      5.7.1 Global Others Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

 

Chapter 6 Global Base Oil Market – Regional Analysis

6.1 Global Base Oil Market: Regional Overview

      6.1.1 Global Base Oil Demand Estimates and Forecast, by Region, 2014 & 2020 (Kilo Tons)

6.2 North America

      6.2.1 North America Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      6.2.2 North America Base Oil Demand and Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons) (USD Million)

              6.2.2.1 North America Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

                        6.2.2.1.1 North America Base Oil Demand Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (Kilo Tons)

              6.2.2.2 North America Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

                        6.2.2.2.1 North America Base Oil Market Revenue Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (USD Million)

6.2.3 North America Base Oil Demand and Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons) (USD Million)

              6.2.3.1 North America Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

              6.2.3.2 North America Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

6.3 Europe

      6.3.1 Europe Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      6.3.2 Europe Base Oil Demand and Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons) (USD Million)

              6.3.2.1 Europe Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

                         6.3.2.1.1 Europe Base Oil Demand Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (Kilo Tons)

              6.3.2.2 Europe Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

                        6.3.2.2.1 Europe Base Oil Market Revenue Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (USD Million)

      6.3.3 Europe Base Oil Demand and Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons) (USD Million)

              6.3.3.1 Europe Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

              6.3.3.2 Europe Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

6.4 Asia Pacific

      6.4.1 Asia Pacific Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      6.4.2 Asia Pacific Base Oil Demand and Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons) (USD Million)

              6.4.2.1 Asia Pacific Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

                        6.4.2.1.1 Asia Pacific Base Oil Demand Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (Kilo Tons)

              6.4.2.2 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

                        6.4.2.2.1 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (USD Million)

      6.4.3 Asia Pacific Base Oil Demand and Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons) (USD Million)

              6.4.3.1 Asia Pacific Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

              6.4.3.2 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

6.5 Central & South America

      6.5.1 Central & South America Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      6.5.2 Central & South America Base Oil Demand and Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons) (USD Million)

              6.5.2.1 Central & South America Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

                        6.5.2.1.1 Central & South America Base Oil Demand Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (Kilo Tons)

              6.5.2.2 Central & South America Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

                        6.5.2.2.1 Central & South America Base Oil Market Revenue Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (USD Million)

      6.5.3 Central & South America Base Oil Demand and Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons) (USD Million)

              6.5.3.1 Central & South America Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

              6.5.3.2 Central & South America Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

6.6 Middle East & Africa

      6.6.1 Middle East & Africa Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

      6.6.2 Middle East & Africa Base Oil Demand and Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons) (USD Million)

              6.6.2.1 Middle East & Africa Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

                        6.6.2.1.1 Middle East & Africa Base Oil Demand Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (Kilo Tons)

              6.6.2.2 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

                        6.6.2.2.1 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Product Sub-Segments, 2013 – 2020 (USD Million)

      6.6.3 Middle East & Africa Base Oil Demand and Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons) (USD Million)

              6.6.3.1 Middle East & Africa Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

              6.6.3.2 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

 

Chapter 7 Company Profiles

7.1 British Petroleum p.l.c

      7.1.1 Company Overview

      7.1.2 Financial Overview

      7.1.3 Product Portfolio

      7.1.4 Business Strategy

      7.1.5 Recent Developments

7.2 Chevron Corporation

      7.2.1 Company Overview

      7.2.2 Financial Overview

      7.2.3 Product Portfolio

      7.2.4 Business Strategy

      7.2.5 Recent Developments

7.3 China Petroleum Corporation (Sinopec Group)

      7.3.1 Company Overview

      7.3.2 Financial Overview

      7.3.3 Product Portfolio

      7.3.4 Business Strategy

      7.3.5 Recent Developments

7.4 Exxon Mobil Corporation

      7.4.1 Company Overview

      7.4.2 Product Portfolio

      7.4.3 Financial overview

      7.4.4 Business strategy

      7.4.5 Recent developments

7.5 GS Caltex Corporation

      7.5.1 Company Overview

      7.5.2 Product Portfolio

      7.5.3 Financial Overview

      7.5.4 Business Strategy

      7.5.5 Recent Developments

7.6 MOGoil GmbH

      7.6.1 Company Overview

      7.6.2 Product Portfolio

      7.6.3 Financial Overview

      7.6.4 Business Strategy

      7.6.5 Recent Developments

7.7 PetroChina Company Limited

      7.7.1 Company Overview

      7.7.2 Financial Overview

      7.7.3 Product Portfolio

      7.7.4 Business Strategy

      7.7.5 Recent Developments

7.8 Philips 66 Company

      7.8.1 Company Overview

      7.8.2 Product Portfolio

      7.8.3 Financial Overview

      7.8.4 Business Strategy

      7.8.5 Recent Developments

7.9 Royal Dutch Shell Plc

      7.9.1 Company Overview

      7.9.2 Product Portfolio

      7.9.3 Financial Overview

      7.9.4 Business Strategy

      7.9.5 Recent Developments

7.10 S-Oil Corporation

      7.10.1 Company Overview

      7.10.2 Product Portfolio

      7.10.3 Financial Overview

      7.10.4 Business Strategy

      7.10.5 Recent Developments

7.11 SK Lubricants

      7.11.1 Company Overview

      7.11.2 Financial Overview

      7.11.3 Product Portfolio

      7.11.4 Business Strategy

      7.11.5 Recent Developments 

List of Figures

 

FIG. 1 Global Base Oil Market: Market Segmentation

FIG. 2 Global Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 3 Global Base Oil Market: Flow of Regional Trade

FIG. 4 Global Base Oil Market: Base Oil Production by Refining Process

FIG. 5 Global Base Oil Market: Value Chain Analysis

FIG. 6 Global Automobile Sales Volume Estimates and Forecast, by Type of Vehicle, 2013 – 2020, (Million Units)

FIG. 7 BRIC Light Vehicle Sales Volume Estimates and Forecast, by Country, 2013 – 2020, (Million Units)

FIG. 8 Sweet and Sour Crude Oil Prices, 2010 – 2014, (USD per Barrel)

FIG. 9 Crude Oil and Base Oil Prices Correlation, 2014 – 2015 (USD/Gallon)

FIG. 10 Global Base Oil Market: Porter’s Five Forces Analysis

FIG. 11 Market Attractiveness Analysis of Global Base Oil Market, by Product, 2013

FIG. 12 Company Market Share of Global Base Oil Market, 2013

FIG. 13 Global Base Oil Demand Estimates and Forecast, by Product, 2014 & 2020 (Kilo Tons)

FIG. 14 Global Group I Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 15 Global SN150 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 16 Global BS150 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 17 Global SN500 (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 18 Global Others (Group I) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 19 Global Group II Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 20 Global 150N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 21 Global 500N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 22 Global 600N (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 23 Global Others (Group II) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 24 Global Group III Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 25 Global 2cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 26 Global 4cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 27 Global 6cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 28 Global 8cSt (Group III) Base Oil Demand and Market Revenue Estimates and Forecast, 2013 – 2020 (Kilo Tons) (USD Million)

FIG. 29 Global Others Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 30 Global Base Oil Demand Estimates and Forecast, by Application, 2014 & 2020 (Kilo Tons)

FIG. 31 Global Automotive Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 32 Global Process Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 33 Global Industrial Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 34 Global Metalworking Fluids Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 35 Global Hydraulic Oils Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 36 Global Others Segment Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 37 Global Base Oil Demand Estimates and Forecast, by Region, 2014 & 2020 (Kilo Tons)

FIG. 38 North America Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 39 Europe Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 40 Asia Pacific Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 41 Central & South America Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

FIG. 42 Middle East & Africa Base Oil Demand and Market Revenue Estimates and Forecast, 2008 – 2020 (Kilo Tons) (USD Million)

List of Tables

 

TABLE 1 Global Base Oil Market Snapshot

TABLE 2 Global Base Oil Market: Base Oil Groups and Grades

TABLE 3 Global Base Oil Market: Impact of Crude Base Oil Refining Process on Product Performance

TABLE 4 Global Base Oil Market: Types of Base Oils According to American Petroleum Institute (API)

TABLE 5 Market Drivers of Global Base Oil Market: Impact Analysis

TABLE 6 Market Restraints of Global Base Oil Market: Impact Analysis

TABLE 7 Market Opportunity of Global Base Oil Market: Impact Analysis

TABLE 8 North America Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

TABLE 9 North America Base Oil Demand Estimates and Forecast, by Group I, 2013 – 2020 (Kilo Tons)

TABLE 10 North America Base Oil Demand Estimates and Forecast, by Group II, 2013 – 2020 (Kilo Tons)

TABLE 11 North America Base Oil Demand Estimates and Forecast, by Group III, 2013 – 2020 (Kilo Tons)

TABLE 12 North America Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

TABLE 13 North America Base Oil Market Revenue Estimates and Forecast, by Group I, 2013 – 2020 (USD Million)

TABLE 14 North America Base Oil Market Revenue Estimates and Forecast, by Group II, 2013 – 2020 (USD Million)

TABLE 15 North America Base Oil Market Revenue Estimates and Forecast, by Group III, 2013 – 2020 (USD Million)

TABLE 16 North America Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

TABLE 17 North America Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

TABLE 18 Europe Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

TABLE 19 Europe Base Oil Demand Estimates and Forecast, by Group I, 2013 – 2020 (Kilo Tons)

TABLE 20 Europe Base Oil Demand Estimates and Forecast, by Group II, 2013 – 2020 (Kilo Tons)

TABLE 21 Europe Base Oil Demand Estimates and Forecast, by Group III, 2013 – 2020 (Kilo Tons)

TABLE 22 Europe Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

TABLE 23 Europe Base Oil Market Revenue Estimates and Forecast, by Group I, 2013 – 2020 (USD Million)

TABLE 24 Europe Base Oil Market Revenue Estimates and Forecast, by Group II, 2013 – 2020 (USD Million)

TABLE 25 Europe Base Oil Market Revenue Estimates and Forecast, by Group III, 2013 – 2020 (USD Million)

TABLE 26 Europe Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

TABLE 27 Europe Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

TABLE 28 Asia Pacific Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

TABLE 29 Asia Pacific Base Oil Demand Estimates and Forecast, by Group I, 2013 – 2020 (Kilo Tons)

TABLE 30 Asia Pacific Base Oil Demand Estimates and Forecast, by Group II, 2013 – 2020 (Kilo Tons)

TABLE 31 Asia Pacific Base Oil Demand Estimates and Forecast, by Group III, 2013 – 2020 (Kilo Tons)

TABLE 32 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

TABLE 33 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Group I, 2013 – 2020 (USD Million)

TABLE 34 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Group II, 2013 – 2020 (USD Million)

TABLE 35 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Group III, 2013 – 2020 (USD Million)

TABLE 36 Asia Pacific Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

TABLE 37 Asia Pacific Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

TABLE 38 Central & South America Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

TABLE 39 Central & South America Base Oil Demand Estimates and Forecast, by Group I, 2013 – 2020 (Kilo Tons)

TABLE 40 Central & South America Base Oil Demand Estimates and Forecast, by Group II, 2013 – 2020 (Kilo Tons)

TABLE 41 Central & South America Base Oil Demand Estimates and Forecast, by Group III, 2013 – 2020 (Kilo Tons)

TABLE 42 Central & South America Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

TABLE 43 Central & South America Base Oil Market Revenue Estimates and Forecast, by Group I, 2013 – 2020 (USD Million)

TABLE 44 Central & South America Base Oil Market Revenue Estimates and Forecast, by Group II, 2013 – 2020 (USD Million)

TABLE 45 Central & South America Base Oil Market Revenue Estimates and Forecast, by Group III, 2013 – 2020 (USD Million)

TABLE 46 Central & South America Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

TABLE 47 Central & South America Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

TABLE 48 Middle East & Africa Base Oil Demand Estimates and Forecast, by Product, 2008 – 2020 (Kilo Tons)

TABLE 49 Middle East & Africa Base Oil Demand Estimates and Forecast, by Group I, 2013 – 2020 (Kilo Tons)

TABLE 50 Middle East & Africa Base Oil Demand Estimates and Forecast, by Group II, 2013 – 2020 (Kilo Tons)

TABLE 51 Middle East & Africa Base Oil Demand Estimates and Forecast, by Group III, 2013 – 2020 (Kilo Tons)

TABLE 52 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Product, 2008 – 2020 (USD Million)

TABLE 53 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Group I, 2013 – 2020 (USD Million)

TABLE 54 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Group II, 2013 – 2020 (USD Million)

TABLE 55 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Group III, 2013 – 2020 (USD Million)

TABLE 56 Middle East & Africa Base Oil Demand Estimates and Forecast, by Application, 2008 – 2020 (Kilo Tons)

TABLE 57 Middle East & Africa Base Oil Market Revenue Estimates and Forecast, by Application, 2008 – 2020 (USD Million)

Even though there are several factors working in favor of the global base oil market, analysts predict that the value of this market is estimated to drop during the course of the forecast period. The recent slump in prices of crude oil is mainly responsible for the negative performance of the base oil market, especially in terms of revenue.

The research report segments the global base oil market on the basis of product, application, and region in order to provide a detailed understanding of the structure and elements of the overall market. By product, the base oil market is categorized into Group I, Group II, Group III, and others. By application, the market is broken down into industrial oils, hydraulic oils, automotive oils, process oils, metalworking fluids, and others. Geographically, the base oil market comprises Europe, North America, South and Central America, Asia Pacific, and the Middle East and Africa. An in-depth evaluation of these segments and sub-segments gives readers a clear picture of the leading, profitable, and lucrative segments of the base oil market and those that have scope for improvement. 

Overview of the Base Oil Market

The research report indicates that the demand for base oil is estimated to reach 39,614.7 kilo tons in 2020, developing at a 1.40% CAGR from 2015 to 2020. In terms of value, the global base oil market was pegged at US$34,514.1 Mn and it is projected to drop to US$30,973.1 Mn by 2020.

The rapid growth in the automotive industry has resulted in the rising demand for finished lubricants, which in turn has boosted the demand for base oil. Large-scale industrialization in emerging economies has led to the demand for lubricants in several end users. This, too, has propelled the base oil market in recent years. Another factor responsible for the development of the base oil market is rigid emission standards that have brought about a change in lubricant formulation methods. In contrast, plunging prices of crude oil and gradual shift by refiners from light, sweet crude to the heavy, sour version is likely to hamper the base oil market. 

The automotive industry is one of the most significant consumers of lubricants, making it a major end-use segment of the base oil market. A strong presence of leading auto manufacturers makes Europe a crucial market for base oil. Among the major product categories of base oil, the demand for Group I is estimated to drop by 2020, owing to growing preference for Group II and III base oils. 

Companies Mentioned in the Report

The most notable companies featured in the research report are S-Oil Corporation, Chevron Corporation, MOGoil GmbH, GS Caltex Corporation, Philips 66 Company, Royal Dutch Shell Plc, Exxon Mobil Corporation, PetroChina Company Limited, British Petroleum p.l.c, China Petroleum Corporation (Sinopec Group), and SK Lubricants. Each of the players are evaluated in the report based on company overview, financial conditions, product portfolio, business strategy, and recent developments. 

  • Global Base Oil Market: Product Analysis

    • Group I

      • SN150
      • BS150
      • SN500
      • Others
    • Group II

      • 150N
      • 500N
      • 600N
      • Others
    • Group III

      • 2cSt
      • 4cSt
      • 6cSt
      • 8cSt
    • Others
  • Global Base Oil Market: Application Analysis

    • Automotive Oils
    • Industrial Oils
    • Process Oils
    • Metalworking Fluids
    • Hydraulic Oils
    • Others
  • Global Base Oil Market: Regional Analysis

    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa

This report gives you access to decisive data such as:

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements 
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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