Base Oil Market Regional Industry Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2030

Byprakash nextmsc

Jan 14, 2022
Base Oil Market Regional Industry Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2030 -

The Global Base Oil Market size valued to USD 36.55 billion in 2019 is predicted to garner USD 41.65 billion by 2030, with a CAGR of 1.1% from 2020-2030.

The Global Base Oil Market held a volumetric turn-over of 41,907.3 kilotons in 2019 that is expected to level-up to 48,879.3 kilotons by 2030, witnessing a CAGR of 1.3% from 2020-2030.

Base oil is a refined petroleum product obtained from heavy hydrocarbons by the means of refining crude oil at extreme temperature ranges. It holds wide applications in manufacturing automotive oil, industrial oil, metalworking fluids, and lubricating greases and other lubricant base stock. The quality standards of base oil majorly depend on criteria such as viscosity, oxidation, vitality, consistency, compatibility, pour point, seal additive, solubility and thermal stability.

Request sample copy of this report at:

Market Dynamics and Trends

The global base oil market size, demonstrates a substantial growth, owing to ever-increasing demand of base oil from various industry verticals, specifically from the automotive segment, rise in demand to manufacture sustainable products to reduce carbon foot prints and help in environmental conservation. Besides, the upsurge in demand for manufacturing high-performance, low fuel-consumption, energy-efficient products under the Corporate Average Fuel Economy (CAFE) norms regarding environment conservation; is anticipated in driving the growth of the global base oil market in coming future.

Furthermore, factors such as constantly multiplying population, rapid industrialization, increasing urbanization, infrastructural advancements, technological developments, changing lifestyles and increase in per-capita income, are to supplement the base oil market growth in future.

However, fluctuating prices of crude oil, slump in crude oil market stakes, and stringent environmental standards regarding emission norms, are expected to hamper the market growth during the forecast period.

Moreover, new product launches, facility expansions and collaborations by the key players, are expected to create lucrative opportunities in the global base oil market in coming future.

Market Segmentations and Scope of the Study:

The global base oil market share analysis is based on type, application, and geography.

Based on type, the market is segmented into Group I, Group II, Group III, Group IV, and Group V. Based on application, the market is divided into Automotive Oil, Industrial Oil, Metalworking Fluids, Greases, and Others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Ask for Inquiry at:

Geographical Analysis:

North America is expected to account for notable market share over the forecast period owing to presence of developed infrastructures, increase in technological advancements coupled with increase in automotive industry. Besides, stringent regulatory standards regarding environment conservation leading to formulation of energy efficient fuels with lower GHG emissions, is expected to fuel-up the growth of global base oil market in this region.

Asia Pacific region is expected to dominate the global base oil market from in terms of both value and volume, owing to augmenting industrialization, proliferating automotive industry, demand for finished lubricants in-order to improve the operational efficiency, and increasing use of synthetic base oil as a substitute to traditional oils, for reducing carbon footprints.

Competitive Landscape:

The base oil market, which is highly competitive, consists of various market players. Some of the major market players include BP PLC, Ergon Inc., Chevron Corporation, H&R Ölwerke Schindler GmbH, Exxon Mobil Corporation, Nynas AB, Royal Dutch Shell PLC, Petronas Pvt. Ltd., Total S.A., and SK Lubricants Co. Ltd. among others.

The cutting-edge product launches, facility expansions, take-overs, and collaborations among the market players, is taking the global base oil market to new-heights.

Phone Number: +1-217-650-7991

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit,


[covid-widget type="global-card" bgcolor="#037b35"]