Base oil is the name given to lubrication grade oils initially produced from refining crude oil (mineral base oil) or through chemical synthesis (synthetic base oil). Base oil is typically defined as oil with a boiling point range between 550 and 1050 F, consisting of hydrocarbons with 18 to 40 carbon atoms. This oil can be either paraffinic or napthenic in nature depending on the chemical structure of the molecules.
According to our (Global Info Research) latest study, the global Base Oil market size was valued at USD 34620 million in 2022 and is forecast to a readjusted size of USD 39800 million by 2029 with a CAGR of 2.0% during review period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Among types, Group IV segment of the global base oil market is projected to grow at the highest CAGR during the forecast period. This is due to increase in the consumption of Group IV base oils, globally. The usage of Group IV base oils has been growing in various industrial and automotive applications as they offer excellent performance when combined with additives.
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This report is a detailed and comprehensive analysis for global Base Oil market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided.
Major players covered
Shell
Chevron
Neste Oil
Exxon Mobil
Total
Sinopec
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Base Oil product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Base Oil, with price, sales, revenue and global market share of Base Oil from 2018 to 2023.
Chapter 3, the Base Oil competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Base Oil breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Base Oil market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.
Chapter 13, the key raw materials and key suppliers, and industry chain of Base Oil.
Chapter 14 and 15, to describe Base Oil sales channel, distributors, customers, research findings and conclusion.
Research Data Source:
Primary and secondary research as two components of methodology applied: Primary research is based on online and telephone based survey, i.e. interviews with several key experts with different functions in the market – from industry, trade and customers, associations and external experts such as researchers. Secondary research is based on all kinds of publicly or commercially available sources, such as publications and further information published from industry (annual reports, company websites, press releases, industry journals and trade publications), relevant databases (government, patent, statistics, markets), scientific and technical writings for product information, scientific articles, and further paid data sources.
This study is based on analysis of information obtained continually since 2016 through our research regarding this industry, but updated through the recent months of 2022. During this period, our analysts performs interviews with authoritative and representative individuals in this industry, industry associations, import/export, and other. The interviews were conducted principally with:
- Manufactuers and their competitors
- Distributors, wholesaler, and agents
- Customers
- CEOs/ Marketing Executives
- Business Heads
- Industry Experts
- Technology and Innovation Directors
- Senior Managers
- Program/Project Directors
A full review of published information was also performed to supplement information obtained through interviews. The following sources were reviewed:
- Professional technical journals and papers
- Trade press articles
- Technical conference proceedings
- Product literature
- Company profile and financial information
- Additional information based on previous Global Info Research market studies
- Personal knowledge of the research team.
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