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Base Oil Market By Product Type (Group I, II, III, IV Base Oils (Polyalphaolefins – PAO), Group V Base Oils (including Esters, Polyalkylene Glycols, and Others)); By Application (Automotive Oils (Engine Oils, Transmission Fluids), Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids), Greases, Metalworking, Others); By End-User (Automotive Industry, Industrial Sector, Metalworking Industry, Others); By Viscosity Index (High Viscosity Index (HVI) Base Oils, Low Viscosity Index (LVI) Base Oils); By Application Method (Onshore, Offshore); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

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Published: | Report ID: 2371 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
Base Oil Market Size 2023  USD 29515.2 Million
Base Oil Market, CAGR  5.2%
Base Oil Market Size 2032  USD 46578.7 Million

Market Insights

  • The global demand for base oil was valued at USD 29515.2 Million in 2023 and is expected to reach USD 46578.7 Million in 2032, growing at a CAGR of 5.2% between 2024 and 2032.
  • The Group II base oils are the market leader by product type, accounting for more than 25% of total value in 2023, while the Group IV base oils (Polyalphaolefins – PAO) category is predicted to increase substantially over the forecast time frame.
  • The automotive industry dominates the global need for base oils, accounting for more than 30% in 2023, and is anticipated to grow at an elevated CAGR.
  • Over the projection period, the metalworking application segment is expected to expand at the highest rate, while the automotive oils (engine oils, transmission fluids) category dominated the market in 2023 with a 28% share.
  • The onshore category dominated the market with 55% of the total revenue share by the application method segment. In contrast, the offshore category will expand fastest in the projected period.
  • With an impressive market share of more than 58% by 2023 and estimates for considerable CAGR growth, the high viscosity index (HVI) base oils will likely continue to lead the market needs.
  • Asia Pacific is fueling the growth of the base oil industry with over one-third share in 2023, while Europe and North America collectively account for just under 55% share in 2023. Europe held over 20% share in 2023.
  • The BRIC nations (Brazil, Russia, India, and China) will likely be attractive lubricant markets across the forecasted period. As per the World Bank estimates, the BRIC countries account for around 41% of the global population, which is anticipated to grow further.

Base Oil Market

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Executive Summary

Market Definition

Base oils serve as the foundation for lubricant formulations. They have an essential effect on the performance and longevity of various industrial and automotive engines. Base oils are typically produced by refining crude extracts at different temperatures and pressures. The boiling point of base oil ranges from 550 to 1050 degrees Fahrenheit. The quality of the lubricant produced is determined by the type of base oil used for refining or the process utilized to create the base oil. These oils are broadly categorized into groups based on fundamental characteristics such as temperature and viscosity correlation, each having a unique application across various industries. They are the most important elements of lubricants as they provide heat dissipation, lubrication, and corrosion protection.

Market Overview

The global base oil market has witnessed continuous growth over recent years and is likely to grow at a CAGR of 5.2% between 2024 and 2032. The market was valued at USD 29515.2 million in 2023 and is expected to reach USD 46578.7 million in 2032.

Base oils are lubrication-grade oils used to make motor oil, lubricating greases, and metalworking fluids. Base oil is obtained by refining crude oil or by chemical synthesis. It is made by extracting and processing high-viscosity material from narrow distillation cuts of vacuum gas oil (VGO) or residue, necessitating special processing through several units. It helps to form a thin coating that improves heat transfer and reduces tension between moving parts. Engine oils are commonly utilized to lubricate internal combustion engines, with 75-90% basic oils and 10-25% additives. Nowadays, lubricants are used in truck and car engines to a large extent, helping to drive up the need for base oil globally.

The global base oil sector is a thriving and critical part of the petroleum industry, with products utilized in industries like automobiles, industrial, and aerospace. The base oil market landscape has changed dramatically in recent years due to technology breakthroughs, stringent regulatory regulations, and a shift in customer preferences for more sustainable and environmentally friendly products. Thus, base oil manufacturers and end users seek novel solutions that fulfill performance standards while emphasizing sustainability and resource conservation.

Segmentation by Product Type

  • In 2023, Group II base oils emerged as the dominant product type, capturing over 25% of the market share by value. This segment’s prominence can be attributed to its superior performance characteristics, meeting stringent industry standards, and promoting widespread adoption across various applications.
  • The Group IV base oils, specifically Polyalphaolefins (PAO), are anticipated to exhibit a noteworthy CAGR in the market. This trajectory is fueled by the increasing demand for high-performance lubricants, where PAO’s synthetic nature provides enhanced stability and performance.

Segmentation by Application

  • The automotive oils (engine oils, transmission fluids) segment governs the global demand for base oils, holding a massive market share of over 28% in 2023. Its large market share is due to rising demand for greases, gear, engines, and other automotive components lubricants. Truck engines and vehicles are the largest consumers of lubricants worldwide, accounting for more than 20 million tonnes per year, or over half of total lubricant use.
  • The metalworking application segment substantially contributes to the overall demand for base oils. This indicates the essential role base oils play in lubricating machinery and processes within the metalworking industry.

Segmentation by End-User

  • The industrial sectors will likely post the fastest CAGR over the projection period. Increased industrial activities and the demand for specialized lubricants in manufacturing processes fuel this category’s growth.
  • Leading the market share with over 30% in 2023, the automotive industry segment remains a dominant end-user, owing to the continuous demand for base oils in automotive lubricants.

Segmentation by Viscosity Index

  • In 2023, the high viscosity index (HVI) base oils category held a substantial market share of nearly 58%. This dominance can be attributed to the increased preference for HVI base oils in applications with significant temperature variations, showcasing their versatility and adaptability across industries.
  • The low viscosity index (LVI) base oils segment will likely register the largest CAGR, owing to rising demand for base oils with specific viscosity characteristics in certain applications.

Segmentation by Application Method

  • The onshore application method dominates the global base oil market, accounting for more than 55% in 2023. This dominance is projected to continue, owing to the prevalent use of base oils in onshore industrial operations.
  • The offshore application method represents the remaining market demand for base oils. While constituting a smaller share, it remains a leading segment, particularly in marine and offshore drilling operations.

Segmentation by Region

  • In 2023, Asia Pacific emerged as a key driver, propelling the base oil industry’s growth with a commanding share of over one-third. This surge is due to the robust industrialization, burgeoning automotive sector, and increased lubricant demand across diverse regional applications.
  • Europe and North America collectively constituted just under 55% of the market share in 2023. Europe, contributing over 20% in the same year, stands out as a significant market within these regions. The well-established industrial base and stringent quality standards contribute to the steady demand for base oils.
  • The rest of the world, encompassing regions like Latin America, the Middle East, and Africa, plays a crucial role in supplying the remaining demand for base oil.

The rise in lubricant utilization across different industries, the surge in worldwide demand for group II and III base oils, and substantial investments in the flourishing automotive sector all contribute to the base oil market revenue growth.

Asia Pacific dominated the global market with the most revenue share in 2023. This is due to the presence of expanding economies and rising disposable income in the region, making it an appealing market for lubricant manufacturers. Asia Pacific is one of the world’s largest base oils product markets, with China dominating the region. The country’s dominance is attributable to increased automotive use and strong growth in its manufacturing sector. The market in China is additionally supported by raw material availability, increased foreign investment, rapid industrialization, and an expanding population. Similarly, the Indian market is predicted to expand strongly owing to the substantial presence of multiple base oil producers and the government’s speedy infrastructural development initiatives.

Europe contributed the second-largest base oil market revenue share globally in 2023. Lubricant consumption is seen as a primary driver of market expansion in Europe, as lubricants are mostly formed of base oil. The increased European demand for base oil is closely related to expanding the industrial and transportation industries. North America is predicted to be the fastest-growing market for base oils. The upsurge of demands for lubricants in the United States, prompted by the implementation of rigorous emission standards and automation technology research, is increasing market share value in North America.

Key Highlights of the Report

The global base oil market is segmented by product type, application, end-user, viscosity index, application method, and region. Group II base oils category emerged as the market leader, widely adopted for superior performance attributes. More than 90% of all lubricants can be manufactured from group II compounds. Within applications, automotive oils, including engine oils and transmission fluids, command a substantial market share, propelled by the expanding automotive industry.

The base oil market leads the lubricants industry, delivering for the efficient functioning of a wide range of machinery and vehicle engines worldwide. Rapid industrialization is a main contributor to base oil industry revenues. The expansion is linked to the increased use of engine oils in the automotive, metallurgy, heavy equipment, chemicals, and power generation industries. The automobile industry is one of the largest contributors of base oils worldwide. The automobile industry’s need for lubricants is predicted to continue growing. However, the rise in electric vehicles has slowed the after-sale growth of some lubricants.

Developing economies like India, China, and Indonesia propel the global manufacturing industry forward. According to the World Bank, the manufacturing sector’s value added to GDP in 2021 was around 14%, up from the previous year. In 2021, global automotive sales climbed in the world’s key regions. With sales up 6.6% to more than 21 million vehicles, China remains the world’s biggest and best-performing major single-country automotive market. Raw material availability, lower infrastructural and labor costs, and increased labor supply contribute to growth. As a result of these considerations, base oil manufacturers are expanding and improving their production facilities in developing countries.

What Are The Main Drivers Of The Global Base Oil Market?

The global base oil market is primarily driven by the escalating demand for high-quality lubricants across diverse industries, including automotive, manufacturing, and power generation. Increasing industrialization and stringent performance and emission standards promote the market need for advanced base oils. Moreover, the growth in automotive production, technological shifts towards higher-grade base oils, and a focus on sustainable and bio-based alternatives contribute to the market’s sustained expansion.

What Are The Major Challenges Faced By The Global Base Oil Market?

The global base oil market faces challenges stemming from the volatility in crude oil prices, which directly influences production costs. Besides, the transition to electric and hybrid vehicles poses a threat, as these technologies alter lubricant requirements, potentially impacting base oil market demand from the automotive sector. Environmental concerns and evolving regulations necessitate continuous adaptation to sustainable practices, adding complexity to the industry’s landscape.

What Are The Growth Opportunities In The Global Base Oil Market?

The global base oil market presents promising growth opportunities driven by the increasing demand for high-performance lubricants in emerging economies. Growing emphasis on sustainable and bio-based feedstocks and advancements in base oil technologies create avenues for market expansion. Furthermore, the development of specialized formulations for applications in electric vehicles, industrial machinery, and aerospace represents additional growth prospects in the evolving landscape of the base oil market.

Market Drivers

Several factors drive the global base oil market. The following are the key drivers of the global base oil market:

Increasing Automotive Production and Consumption

One of the primary drivers for the base oil market share is the steady growth in automotive production and consumption worldwide. As the automotive industry expands, there is a parallel increase in the demand for lubricants, which heavily rely on base oils. Base oils are a crucial component in formulating engine oils, transmission fluids, and other lubricants essential for the proper functioning of vehicles.

The rise in disposable income, urbanization, and industrialization in developing economies has led to an uptick in automotive sales, contributing significantly to the demand for base oils. According to the OICA (International Organisation of Automobile Manufacturers), new vehicle sales climbed from 88.6 million in 2014 to 98.2 million in 2019. This increase in sales is likely due to sustained microeconomic development, effective and affordable vehicle manufacturing technology, and rising middle-class customer demand. Moreover, the evolving regulatory landscape, focusing on fuel efficiency and emissions reduction, further drives the need for higher-quality lubricants, thus positively influencing the demand for advanced base oils.

Market Restraints

The global base oil market faces some challenges that may limit its growth. These include the following:

Shift Towards Electric Vehicles (EVs)

The emerging global adoption of electric vehicles (EVs) represents a key restraint for the base oil market. EVs typically have different lubricant requirements compared to traditional internal combustion engine vehicles. The reduced need for certain types of lubricants, such as engine oils, in electric vehicles leads to a decline in overall demand for base oils from the automotive sector.

As the automotive industry gradually shifts towards electric propulsion technologies, base oil manufacturers face the challenge of aligning their product offerings with the market’s evolving needs. The potential decrease in demand for traditional automotive lubricants may necessitate diversification of product portfolios and strategic adjustments to cater to the changing landscape of the transportation sector.

Opportunities

The global base oil market offers significant growth opportunities. These include the following:

Rapid Industrialization of Emerging Economies

The rapid industrialization observed in emerging economies presents a substantial global base oil market opportunity. As these economies experience robust growth in manufacturing, construction, and infrastructure development, there is an increased demand for lubricants, driving the need for base oils. Industrial lubricants, including those used in heavy machinery, hydraulic systems, and metalworking, contribute extensively to the overall demand for base oils.

Manufacturers can leverage this opportunity by strategically expanding their presence in emerging markets and customizing their product offerings to meet the specific requirements of diverse industrial applications. Establishing strong distribution networks and collaborations with local partners can enhance accessibility and market penetration in regions experiencing rapid industrialization.

Competitive Landscape

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Key Players

The competitive landscape of the base oil market is characterized by intense competition among key players striving for global market share and product differentiation. The following are a few of the most prominent market players and their market shares:

  • CNOOC Limited
  • PetroCanada Lubricants Inc.
  • Petroleum & Chemical Corp. (SINOPEC)
  • PETRONAS Lubricants International
  • PT Pertamina (Persero)
  • PetroChina Co. Ltd
  • Exxon Mobil Corporation
  • Abu Dhabi National Oil Company
  • Chevron Corporation
  • Shell Plc
  • Indian Oil Corporation Ltd
  • BP Plc
  • Saudi Arabian Oil Co.
  • Sepahan Oil
  • Bahrain Lube Base Oil Company
  • LUKOIL
  • SK Lubricants Co. Ltd
  • H&R OWS Chemie GmbH & Co. KG
  • Bharat Petroleum Corporation Ltd
  • GS Caltex Corporation
  • Neste
  • Repsol
  • Others

These key players within the industry are engaged in continuous R&D activities to enhance their product portfolios, introducing advanced formulations to meet evolving customer demands. Collaborations, mergers, and acquisitions are common market strategies as firms seek to strengthen their global market presence and diversify product offerings.

In September 2023, Petronas and Pertamina agreed to investigate the feasibility of the two firms constructing a base oil facility at Pertamina’s fuel refinery in Cilacap, Indonesia.

In September 2022, Indian Oil Corporation Limited (IOCL) awarded ThyssenKrupp Industrial Solutions India Private Ltd a USD 75 million engineering, procurement, and construction contract for 270 kilotons per annum (KTPA) Catalytic Dewaxing Unit (CDWU) utilized in the production of lube base oils at its Gujarat refinery.

In August 2019, ExxonMobil Chemical Co., a subsidiary of ExxonMobil Corp., chose Synergy Additives Company S.A. de C.V. (Mexico) to distribute Group IV/V base stocks (synthetic base stocks) across Mexico, Central America, and the Caribbean. The development improved the company’s geographical presence.

Summary of Key Findings

  • The global base oil market has experienced remarkable expansion over recent years, attributed to the increasing industrialization, automotive production, and overall economic expansion.
  • The market is segmented by product type, application, end-user, viscosity index, application method, and region.
  • The market is further segmented into different base oil grades, including Group I, Group II, Group III, and others, each with specific performance characteristics. Group II base oils are often favored due to their improved properties over Group I.
  • The automotive industry remains a major consumer of base oils, with increased lubricant demand fueled by growing vehicle sales and maintenance requirements.
  • The Asia-Pacific region, particularly China and India, has emerged as a dominant market for base oils. Rapid industrialization, urbanization, and increased automotive production in the region contribute to the high demand.
  • The base oil market is subject to supply chain challenges, including fluctuations in crude oil prices, geopolitical factors, and disruptions in the refining industry.

Future Outlook

  • Emerging awareness of environmental sustainability has led to R&D in bio-based base oils, creating new market opportunities and addressing concerns about the environmental impact of traditional base oils.
  • The integration of digital technologies and Industry 4.0 concepts is impacting the base oil manufacturing process. Automation, real-time monitoring, and predictive maintenance are becoming integral to optimizing production efficiency.
  • Ongoing research into novel base oil production technologies, such as advanced catalytic processes and unconventional feedstocks, may influence the market landscape in the coming years.

How CXOs Can Benefit from the Credence Research Base Oil Market Report

The Credence Research Base Oil Market Report provides CXOs with a comprehensive overview of the market, including:

  • Market size and growth forecast: The report provides detailed estimates of the global base oil market size, segmented by product type, application, end-user, viscosity index, application method, and region. It also includes forecasts for the market through 2032 based on key trends and drivers.
  • Market segmentation: The report segments the base oil market by product type, application, end-user, viscosity index, application method, and region. This segmentation provides CXOs with a granular understanding of the market and the opportunities in each segment.
  • Competitive Landscape: The report profiles the leading players in the base oil market and provides insights into their strategies, product offerings, and financial performance. This information can help CXOs to identify and assess their competition.
  • Key trends and drivers: The report identifies and analyses the key trends and drivers shaping the base oil market. This information can help CXOs to make informed decisions about their investments and strategies.

CXOs can use the insights from the Credence Research Base Oil Market Report to:

  • Identify growth opportunities: The report can help CXOs identify new growth opportunities in the base oil market. For example, the report identifies the growing demand for base oil from the automotive and metalworking industries as a key opportunity.
  • Make informed investment decisions: The report can help CXOs make informed investment decisions about base oil. For example, the report provides insights into the key factors to consider when evaluating base oil providers and selecting base oil applications.
  • Develop competitive strategies: The report can help CXOs develop competitive strategies for their base oil businesses. For example, the report identifies the key strategies that base oil providers use to differentiate themselves from their competitors.
  • Track market developments: The report can help CXOs to track market developments and stay ahead of the curve. For example, the report provides insights into the latest trends and innovations in the base oil market.

Overall, the Credence Research Base Oil Market Report is a valuable resource for CXOs looking to gain a deeper understanding of the market and identify growth opportunities.

Segmentation

  • By Product Type
    • Group I Base Oils
    • Group II Base Oils
    • Group III Base Oils
    • Group IV Base Oils (Polyalphaolefins – PAO)
    • Group V Base Oils (including Esters, Polyalkylene Glycols, and Others)
  • By Application
    • Automotive Oils (Engine Oils, Transmission Fluids)
    • Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids)
    • Greases
    • Metalworking
    • Others
  • By End-User
    • Automotive Industry
    • Industrial Sector
    • Metalworking Industry
    • Others
  • By Viscosity Index
    • High Viscosity Index (HVI) Base Oils
    • Low Viscosity Index (LVI) Base Oils
  • By Application Method
    • Onshore
    • Offshore
  • By Region
    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • The U.K.
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • South-east Asia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of the Middle East and Africa

Table of Content
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Market Introduction
2. Executive Summary
2.1. Market Snapshot: Global Base Oil Market
2.1.1. Global Base Oil Market, By Product Type
2.1.2. Global Base Oil Market, By Application
2.1.3. Global Base Oil Market, By End-User
2.1.4. Global Base Oil Market, By Viscosity Index
2.1.5. Global Base Oil Market, By Application Method
2.1.6. Global Base Oil Market, By Region
2.2. Insights from Primary Respondents
3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Base Oil Market Value, 2019-2032, (US$ Mn)
3.1.2. Y-o-Y Growth Trend Analysis
3.2. Market Dynamics
3.2.1. Base Oil Market Drivers
3.2.2. Base Oil Market Restraints
3.2.3. Base Oil Market Opportunities
3.2.4. Major Base Oil Industry Challenges
3.3. Growth and Development Patterns
3.4. Investment Feasibility Analysis
3.5. Market Opportunity Analysis
3.5.1. Product Type
3.5.2. Application
3.5.3. End-User
3.5.4. Viscosity Index
3.5.5. Application Method
3.5.6. Geography
4. Market Competitive Landscape Analysis
4.1. Company Market Share Analysis, 2023
4.1.1. Global Base Oil Market: Company Market Share, Value 2023
4.1.2. Global Base Oil Market: Top 6 Company Market Share, Value 2023
4.1.3. Global Base Oil Market: Top 3 Company Market Share, Value 2023
4.2. Global Base Oil Market: Company Revenue Share Analysis, 2023
4.3. Company Assessment Metrics, 2023
4.3.1. Stars
4.3.2. Emerging Leaders
4.3.3. Pervasive Players
4.3.4. Participants
4.4. Startups/SMEs Assessment Metrics, 2023
4.4.1. Progressive Companies
4.4.2. Responsive Companies
4.4.3. Dynamic Companies
4.4.4. Starting Blocks
4.5. Strategic Development
4.5.1. Acquisition and Mergers
4.5.2. New Product Launch
4.5.3. Regional Expansion
4.5.4. Partnerships
4.6. Key Player Product Matrix
4.7. Potential for New Players in the Global Base Oil Market
5. Premium Insights
5.1. STAR (Situation, Task, Action, Results) Analysis
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Bargaining Power of Buyers/Consumers
5.2.3. Bargaining Power of Suppliers
5.2.4. Threat of Substitute Types
5.2.5. Intensity of Competitive Rivalry
5.3. PESTEL Analysis
5.3.1. Political Factors
5.3.2. Economic Factors
5.3.3. Social Factors
5.3.4. Technological Factors
5.3.5. Environmental Factors
5.3.6. Legal Factors
5.4. Key Market Trends
5.4.1. Demand Side Trends
5.4.2. Supply Side Trends
5.5. Value Chain Analysis
5.6. Technology Analysis
5.6.1. Research and development in the global market
5.6.2. Patent Analysis
5.6.3. Emerging technologies and their potential disruption to the market
5.7. Consumer Behaviour Analysis
5.7.1. Consumer Preferences and Expectations
5.7.2. Factors Influencing Consumer Buying Decisions
5.7.2.1. North America
5.7.2.2. Europe
5.7.2.3. Asia Pacific
5.7.2.4. Latin America
5.7.2.5. Middle East and Africa
5.7.3. Consumer Pain Points
5.8. Analysis and Recommendations
5.9. Adjacent Market Analysis
6. Market Positioning of Key Players, 2023
6.1. Company market share of key players, 2023
6.2. Competitive Benchmarking
6.3. Market Positioning of Key Vendors
6.4. Geographical Presence Analysis
6.5. Major Strategies Adopted by Key Players
6.5.1. Key Strategies Analysis
6.5.2. Mergers and Acquisitions
6.5.3. Partnerships
6.5.4. Product Launch
6.5.5. Geographical Expansion
6.5.6. Others
7. Impact Analysis of COVID 19 and Russia – Ukraine War on Base Oil Market
7.1. Ukraine-Russia War Impact
7.1.1. Uncertainty and Economic Instability
7.1.2. Supply chain disruptions
7.1.3. Regional market shifts
7.1.4. Shift in government priorities
7.2. COVID-19 Impact Analysis
7.2.1. Supply Chain Disruptions
7.2.2. Demand Fluctuations
7.2.3. Shift in Product Mix
7.2.4. Reduced Industrial Activity
7.2.5. Regional Impact Analysis
7.2.5.1. North America
7.2.5.2. Europe
7.2.5.3. Asia Pacific
7.2.5.4. Latin America
7.2.5.5. Middle East and Africa
8. Global Base Oil Market, By Product Type
8.1. Global Base Oil Market Overview, by Product Type
8.1.1. Global Base Oil Market Revenue Share, By Product Type, 2023 Vs 2032 (in %)
8.2. Group I Base Oils
8.2.1. Global Base Oil Market, By Group I Base Oils, By Region, 2019-2032 (US$ Mn)
8.2.2. Market Dynamics for Group I Base Oils
8.2.2.1. Drivers
8.2.2.2. Restraints
8.2.2.3. Opportunities
8.2.2.4. Trends
8.3. Group II Base Oils
8.3.1. Global Base Oil Market, By Group II Base Oils, By Region, 2019-2032 (US$ Mn)
8.3.2. Market Dynamics for Group II Base Oils
8.3.2.1. Drivers
8.3.2.2. Restraints
8.3.2.3. Opportunities
8.3.2.4. Trends
8.4. Group III Base Oils
8.4.1. Global Base Oil Market, By Group III Base Oils, By Region, 2019-2032 (US$ Mn)
8.4.2. Market Dynamics for Group III Base Oils
8.4.2.1. Drivers
8.4.2.2. Restraints
8.4.2.3. Opportunities
8.4.2.4. Trends
8.5. Group IV Base Oils (Polyalphaolefins – PAO)
8.5.1. Global Base Oil Market, By Group IV Base Oils (Polyalphaolefins – PAO), By Region, 2019-2032 (US$ Mn)
8.5.2. Market Dynamics for Group IV Base Oils (Polyalphaolefins – PAO)
8.5.2.1. Drivers
8.5.2.2. Restraints
8.5.2.3. Opportunities
8.5.2.4. Trends
8.6. Group V Base Oils (including Esters, Polyalkylene Glycols, and Others)
8.6.1. Global Base Oil Market, By Group V Base Oils (including Esters, Polyalkylene Glycols, and Others), By Region, 2019-2032 (US$ Mn)
8.6.2. Market Dynamics for Group V Base Oils (including Esters, Polyalkylene Glycols, and Others)
8.6.2.1. Drivers
8.6.2.2. Restraints
8.6.2.3. Opportunities
8.6.2.4. Trends
9. Global Base Oil Market, By Applications
9.1. Global Base Oil Market Overview, by Applications
9.1.1. Global Base Oil Market Revenue Share, By Applications, 2023 Vs 2032 (in %)
9.2. Automotive Oils (Engine Oils, Transmission Fluids)
9.2.1. Global Base Oil Market, By Automotive Oils (Engine Oils, Transmission Fluids), By Region, 2019-2032 (US$ Mn)
9.2.2. Market Dynamics for Automotive Oils (Engine Oils, Transmission Fluids)
9.2.2.1. Drivers
9.2.2.2. Restraints
9.2.2.3. Opportunities
9.2.2.4. Trends
9.3. Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids)
9.3.1. Global Base Oil Market, By Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids), By Region, 2019-2032 (US$ Mn)
9.3.2. Market Dynamics for Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids)
9.3.2.1. Drivers
9.3.2.2. Restraints
9.3.2.3. Opportunities
9.3.2.4. Trends
9.4. Greases
9.4.1. Global Base Oil Market, By Greases, By Region, 2019-2032 (US$ Mn)
9.4.2. Market Dynamics for Greases
9.4.2.1. Drivers
9.4.2.2. Restraints
9.4.2.3. Opportunities
9.4.2.4. Trends
9.5. Metalworking
9.5.1. Global Base Oil Market, By Metalworking, By Region, 2019-2032 (US$ Mn)
9.5.2. Market Dynamics for Metalworking
9.5.2.1. Drivers
9.5.2.2. Restraints
9.5.2.3. Opportunities
9.5.2.4. Trends
9.6. Others
9.6.1. Global Base Oil Market, By Others, By Region, 2019-2032 (US$ Mn)
9.6.2. Market Dynamics for Others
9.6.2.1. Drivers
9.6.2.2. Restraints
9.6.2.3. Opportunities
9.6.2.4. Trends
10. Global Base Oil Market, By End-User
10.1. Global Base Oil Market Overview, by End-User
10.1.1. Global Base Oil Market Revenue Share, By End-User, 2023 Vs 2032 (in %)
10.2. Automotive Industry
10.2.1. Global Base Oil Market, By Automotive Industry, By Region, 2019-2032 (US$ Mn)
10.2.2. Market Dynamics for Automotive Industry
10.2.2.1. Drivers
10.2.2.2. Restraints
10.2.2.3. Opportunities
10.2.2.4. Trends
10.3. Industrial Sector
10.3.1. Global Base Oil Market, By Industrial Sector, By Region, 2019-2032 (US$ Mn)
10.3.2. Market Dynamics for Industrial Sector
10.3.2.1. Drivers
10.3.2.2. Restraints
10.3.2.3. Opportunities
10.3.2.4. Trends
10.4. Metalworking Industry
10.4.1. Global Base Oil Market, By Metalworking Industry, By Region, 2019-2032 (US$ Mn)
10.4.2. Market Dynamics for Metalworking Industry
10.4.2.1. Drivers
10.4.2.2. Restraints
10.4.2.3. Opportunities
10.4.2.4. Trends
10.5. Others
10.5.1. Global Base Oil Market, By Others, By Region, 2019-2032 (US$ Mn)
10.5.2. Market Dynamics for Others
10.5.2.1. Drivers
10.5.2.2. Restraints
10.5.2.3. Opportunities
10.5.2.4. Trends
11. Global Base Oil Market, By Viscosity Index
11.1. Global Base Oil Market Overview, by Viscosity Index
11.1.1. Global Base Oil Market Revenue Share, By Viscosity Index, 2023 Vs 2032 (in %)
11.2. High Viscosity Index (HVI) Base Oils
11.2.1. Global Base Oil Market, By High Viscosity Index (HVI) Base Oils, By Region, 2019-2032 (US$ Mn)
11.2.2. Market Dynamics for High Viscosity Index (HVI) Base Oils
11.2.2.1. Drivers
11.2.2.2. Restraints
11.2.2.3. Opportunities
11.2.2.4. Trends
11.3. Low Viscosity Index (LVI) Base Oils
11.3.1. Global Base Oil Market, By Low Viscosity Index (LVI) Base Oils, By Region, 2019-2032 (US$ Mn)
11.3.2. Market Dynamics for Low Viscosity Index (LVI) Base Oils
11.3.2.1. Drivers
11.3.2.2. Restraints
11.3.2.3. Opportunities
11.3.2.4. Trends
12. Global Base Oil Market, By Application Method
12.1. Global Base Oil Market Overview, by Application Method
12.1.1. Global Base Oil Market Revenue Share, By Application Method, 2023 Vs 2032 (in %)
12.2. Onshore
12.2.1. Global Base Oil Market, By Onshore, By Region, 2019-2032 (US$ Mn)
12.2.2. Market Dynamics for Onshore
12.2.2.1. Drivers
12.2.2.2. Restraints
12.2.2.3. Opportunities
12.2.2.4. Trends
12.3. Offshore
12.3.1. Global Base Oil Market, By Offshore, By Region, 2019-2032 (US$ Mn)
12.3.2. Market Dynamics for Offshore
12.3.2.1. Drivers
12.3.2.2. Restraints
12.3.2.3. Opportunities
12.3.2.4. Trends
13. Global Base Oil Market, By Region
13.1. Global Base Oil Market Overview, by Region
13.1.1. Global Base Oil Market, By Region, 2023 vs 2032 (in%)
13.2. Product Type
13.2.1. Global Base Oil Market, By Product Type, 2019-2032 (US$ Mn)
13.3. Application
13.3.1. Global Base Oil Market, By Application, 2019-2032 (US$ Mn)
13.4. End-User
13.4.1. Global Base Oil Market, By End-User, 2019-2032 (US$ Mn)
13.5. Viscosity Index
13.5.1. Global Base Oil Market, By Viscosity Index, 2019-2032 (US$ Mn)
13.6. Application Method
13.6.1. Global Base Oil Market, By Application Method, 2019-2032 (US$ Mn)
14. North America Base Oil Market Analysis
14.1. Overview
14.1.1. Market Dynamics for North America
14.1.1.1. Drivers
14.1.1.2. Restraints
14.1.1.3. Opportunities
14.1.1.4. Trends
14.2. North America Base Oil Market, by Product Type, 2019-2032(US$ Mn)
14.2.1. Overview
14.2.2. SRC Analysis
14.3. North America Base Oil Market, by Application, 2019-2032(US$ Mn)
14.3.1. Overview
14.3.2. SRC Analysis
14.4. North America Base Oil Market, by End-User, 2019-2032(US$ Mn)
14.4.1. Overview
14.4.2. SRC Analysis
14.5. North America Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
14.5.1. Overview
14.5.2. SRC Analysis
14.6. North America Base Oil Market, by Application Method, 2019-2032(US$ Mn)
14.6.1. Overview
14.6.2. SRC Analysis
14.7. North America Base Oil Market, by Country, 2019-2032 (US$ Mn)
14.7.1. North America Base Oil Market, by Country, 2023 Vs 2032 (in%)
14.7.2. U.S.
14.7.3. Canada
14.7.4. Mexico
15. Europe Base Oil Market Analysis
15.1. Overview
15.1.1. Market Dynamics for North America
15.1.1.1. Drivers
15.1.1.2. Restraints
15.1.1.3. Opportunities
15.1.1.4. Trends
15.2. Europe Base Oil Market, by Product Type, 2019-2032(US$ Mn)
15.2.1. Overview
15.2.2. SRC Analysis
15.3. Europe Base Oil Market, by Application, 2019-2032(US$ Mn)
15.3.1. Overview
15.3.2. SRC Analysis
15.4. Europe Base Oil Market, by End-User, 2019-2032(US$ Mn)
15.4.1. Overview
15.4.2. SRC Analysis
15.5. Europe Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
15.5.1. Overview
15.5.2. SRC Analysis
15.6. Europe Base Oil Market, by Application Method, 2019-2032(US$ Mn)
15.6.1. Overview
15.6.2. SRC Analysis
15.7. Europe Base Oil Market, by Country, 2019-2032 (US$ Mn)
15.7.1. Europe Base Oil Market, by Country, 2023 Vs 2032 (in%)
15.7.2. UK
15.7.3. France
15.7.4. Germany
15.7.5. Italy
15.7.6. Spain
15.7.7. Benelux
15.7.8. Russia
15.7.9. Rest of Europe
16. Asia Pacific Base Oil Market Analysis
16.1. Overview
16.1.1. Market Dynamics for North America
16.1.1.1. Drivers
16.1.1.2. Restraints
16.1.1.3. Opportunities
16.1.1.4. Trends
16.2. Asia Pacific Base Oil Market, by Product Type, 2019-2032(US$ Mn)
16.2.1. Overview
16.2.2. SRC Analysis
16.3. Asia Pacific Base Oil Market, by Application, 2019-2032(US$ Mn)
16.3.1. Overview
16.3.2. SRC Analysis
16.4. Asia Pacific Base Oil Market, by End-User, 2019-2032(US$ Mn)
16.4.1. Overview
16.4.2. SRC Analysis
16.5. Asia Pacific Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
16.5.1. Overview
16.5.2. SRC Analysis
16.6. Asia Pacific Base Oil Market, by Application Method, 2019-2032(US$ Mn)
16.6.1. Overview
16.6.2. SRC Analysis
16.7. Asia Pacific Base Oil Market, by Country, 2019-2032 (US$ Mn)
16.7.1. Asia Pacific Base Oil Market, by Country, 2023 Vs 2032 (in%)
16.7.2. China
16.7.3. Japan
16.7.4. India
16.7.5. South Korea
16.7.6. South East Asia
16.7.7. Rest of Asia Pacific
17. Latin America Base Oil Market Analysis
17.1. Overview
17.1.1. Market Dynamics for North America
17.1.1.1. Drivers
17.1.1.2. Restraints
17.1.1.3. Opportunities
17.1.1.4. Trends
17.2. Latin America Base Oil Market, by Product Type, 2019-2032(US$ Mn)
17.2.1. Overview
17.2.2. SRC Analysis
17.3. Latin America Base Oil Market, by Application, 2019-2032(US$ Mn)
17.3.1. Overview
17.3.2. SRC Analysis
17.4. Latin America Base Oil Market, by End-User, 2019-2032(US$ Mn)
17.4.1. Overview
17.4.2. SRC Analysis
17.5. Latin America Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
17.5.1. Overview
17.5.2. SRC Analysis
17.6. Latin America Base Oil Market, by Application Method, 2019-2032(US$ Mn)
17.6.1. Overview
17.6.2. SRC Analysis
17.7. Latin America Base Oil Market, by Country, 2019-2032 (US$ Mn)
17.7.1. Latin America Base Oil Market, by Country, 2023 Vs 2032 (in%)
17.7.2. Brazil
17.7.3. Argentina
17.7.4. Rest of Latin America
18. Middle East Base Oil Market Analysis
18.1. Overview
18.1.1. Market Dynamics for North America
18.1.1.1. Drivers
18.1.1.2. Restraints
18.1.1.3. Opportunities
18.1.1.4. Trends
18.2. Middle East Base Oil Market, by Product Type, 2019-2032(US$ Mn)
18.2.1. Overview
18.2.2. SRC Analysis
18.3. Middle East Base Oil Market, by Application, 2019-2032(US$ Mn)
18.3.1. Overview
18.3.2. SRC Analysis
18.4. Middle East Base Oil Market, by End-User, 2019-2032(US$ Mn)
18.4.1. Overview
18.4.2. SRC Analysis
18.5. Middle East Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
18.5.1. Overview
18.5.2. SRC Analysis
18.6. Middle East Base Oil Market, by Application Method, 2019-2032(US$ Mn)
18.6.1. Overview
18.6.2. SRC Analysis
18.7. Middle East Base Oil Market, by Country, 2019-2032 (US$ Mn)
18.7.1. Middle East Base Oil Market, by Country, 2023 Vs 2032 (in%)
18.7.2. UAE
18.7.3. Saudi Arabia
18.7.4. Rest of Middle East
19. Africa Base Oil Market Analysis
19.1. Overview
19.1.1. Market Dynamics for North America
19.1.1.1. Drivers
19.1.1.2. Restraints
19.1.1.3. Opportunities
19.1.1.4. Trends
19.2. Africa Base Oil Market, by Product Type, 2019-2032(US$ Mn)
19.2.1. Overview
19.2.2. SRC Analysis
19.3. Africa Base Oil Market, by Application, 2019-2032(US$ Mn)
19.3.1. Overview
19.3.2. SRC Analysis
19.4. Africa Base Oil Market, by End-User, 2019-2032(US$ Mn)
19.4.1. Overview
19.4.2. SRC Analysis
19.5. Africa Base Oil Market, by Viscosity Index, 2019-2032(US$ Mn)
19.5.1. Overview
19.5.2. SRC Analysis
19.6. Africa Base Oil Market, by Application Method, 2019-2032(US$ Mn)
19.6.1. Overview
19.6.2. SRC Analysis
19.7. Africa Base Oil Market, by Country, 2019-2032 (US$ Mn)
19.7.1. Middle East Base Oil Market, by Country, 2023 Vs 2032 (in%)
19.7.2. South Africa
19.7.3. Egypt
19.7.4. Rest of Africa
20. Company Profiles
20.1. CNOOC Limited
20.1.1. Company Overview
20.1.2. Products/Services Portfolio
20.1.3. Geographical Presence
20.1.4. SWOT Analysis
20.1.5. Financial Summary
20.1.5.1. Market Revenue and Net Profit (2019-2023)
20.1.5.2. Business Segment Revenue Analysis
20.1.5.3. Geographical Revenue Analysis
20.2. PetroCanada Lubricants Inc.
20.3. Petroleum & Chemical Corp. (SINOPEC)
20.4. PETRONAS Lubricants International
20.5. PT Pertamina (Persero)
20.6. PetroChina Co. Ltd
20.7. Exxon Mobil Corporation
20.8. Abu Dhabi National Oil Company
20.9. Chevron Corporation
20.10. Shell Plc
20.11. Indian Oil Corporation Ltd
20.12. BP Plc
20.13. Saudi Arabian Oil Co.
20.14. Sepahan Oil
20.15. Bahrain Lube Base Oil Company
20.16. LUKOIL
20.17. SK Lubricants Co. Ltd
20.18. H&R OWS Chemie GmbH & Co. KG
20.19. Bharat Petroleum Corporation Ltd
20.20. GS Caltex Corporation
20.21. Neste
20.22. Repsol
20.23. Others
21. Research Methodology
21.1. Research Methodology
21.2. Phase I – Secondary Research
21.3. Phase II – Data Modelling
21.3.1. Company Share Analysis Model
21.3.2. Revenue Based Modelling
21.4. Phase III – Primary Research
21.5. Research Limitations
21.5.1. Assumptions

List of Figures
FIG. 1 Global Base Oil Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Base Oil Market Segmentation
FIG. 4 Global Base Oil Market, by Product Type, 2023 (US$ Mn)
FIG. 5 Global Base Oil Market, by Application, 2023 (US$ Mn)
FIG. 6 Global Base Oil Market, by End-User, 2023 (US$ Mn)
FIG. 7 Global Base Oil Market, by Viscosity Index, 2023 (US$ Mn)
FIG. 8 Global Base Oil Market, by Application Method, 2023 (US$ Mn)
FIG. 9 Global Base Oil Market, by Geography, 2023 (US$ Mn)
FIG. 10 Attractive Investment Proposition, by Product Type, 2023
FIG. 11 Attractive Investment Proposition, by Application, 2023
FIG. 12 Attractive Investment Proposition, by End-User, 2023
FIG. 13 Attractive Investment Proposition, by Viscosity Index, 2023
FIG. 14 Attractive Investment Proposition, by Application Method, 2023
FIG. 15 Attractive Investment Proposition, by Geography, 2023
FIG. 16 Global Market Share Analysis of Key Base Oil Market Manufacturers, 2023
FIG. 17 Global Market Positioning of Key Base Oil Market Manufacturers, 2023
FIG. 18 Global Base Oil Market Value Contribution, By Product Type, 2023 & 2032 (Value %)
FIG. 19 Global Base Oil Market, by Group I Base Oils, Value, 2019-2032 (US$ Mn)
FIG. 20 Global Base Oil Market, by Group II Base Oils, Value, 2019-2032 (US$ Mn)
FIG. 21 Global Base Oil Market, by Group III Base Oils, Value, 2019-2032 (US$ Mn)
FIG. 22 Global Base Oil Market, by Group IV Base Oils (Polyalphaolefins – PAO), Value, 2019-2032 (US$ Mn)
FIG. 23 Global Base Oil Market, by Group V Base Oils (including Esters, Polyalkylene Glycols, and Others), Value, 2019-2032 (US$ Mn)
FIG. 24 Global Base Oil Market Value Contribution, By Application, 2023 & 2032 (Value %)
FIG. 25 Global Base Oil Market, by Automotive Oils (Engine Oils, Transmission Fluids), Value, 2019-2032 (US$ Mn)
FIG. 26 Global Base Oil Market, by Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids), Value, 2019-2032 (US$ Mn)
FIG. 27 Global Base Oil Market, by Greases, Value, 2019-2032 (US$ Mn)
FIG. 28 Global Base Oil Market, by Metalworking, Value, 2019-2032 (US$ Mn)
FIG. 29 Global Base Oil Market, by Others, Value, 2019-2032 (US$ Mn)
FIG. 30 Global Base Oil Market Value Contribution, By End-User, 2023 & 2032 (Value %)
FIG. 31 Global Base Oil Market, by Automotive Industry, Value, 2019-2032 (US$ Mn)
FIG. 32 Global Base Oil Market, by Industrial Sector, Value, 2019-2032 (US$ Mn)
FIG. 33 Global Base Oil Market, by Metalworking Industry, Value, 2019-2032 (US$ Mn)
FIG. 34 Global Base Oil Market, by Others, Value, 2019-2032 (US$ Mn)
FIG. 35 Global Base Oil Market Value Contribution, By Viscosity Index, 2023 & 2032 (Value %)
FIG. 36 Global Base Oil Market, by High Viscosity Index (HVI) Base Oils, Value, 2019-2032 (US$ Mn)
FIG. 37 Global Base Oil Market, by Low Viscosity Index (LVI) Base Oils, Value, 2019-2032 (US$ Mn)
FIG. 38 Global Base Oil Market Value Contribution, By Application Method, 2023 & 2032 (Value %)
FIG. 39 Global Base Oil Market, by Onshore, Value, 2019-2032 (US$ Mn)
FIG. 40 Global Base Oil Market, by Offshore, Value, 2019-2032 (US$ Mn)
FIG. 41 North America Base Oil Market, 2019-2032 (US$ Mn)
FIG. 42 U.S. Base Oil Market, 2019-2032 (US$ Mn)
FIG. 43 Canada Base Oil Market, 2019-2032 (US$ Mn)
FIG. 44 Mexico Base Oil Market, 2019-2032 (US$ Mn)
FIG. 45 Europe Base Oil Market, 2019-2032 (US$ Mn)
FIG. 46 Germany Base Oil Market, 2019-2032 (US$ Mn)
FIG. 47 France Base Oil Market, 2019-2032 (US$ Mn)
FIG. 48 U.K. Base Oil Market, 2019-2032 (US$ Mn)
FIG. 49 Italy Base Oil Market, 2019-2032 (US$ Mn)
FIG. 50 Spain Base Oil Market, 2019-2032 (US$ Mn)
FIG. 51 Benelux Base Oil Market, 2019-2032 (US$ Mn)
FIG. 52 Russia Base Oil Market, 2019-2032 (US$ Mn)
FIG. 53 Rest of Europe Base Oil Market, 2019-2032 (US$ Mn)
FIG. 54 Asia Pacific Base Oil Market, 2019-2032 (US$ Mn)
FIG. 55 China Base Oil Market, 2019-2032 (US$ Mn)
FIG. 56 Japan Base Oil Market, 2019-2032 (US$ Mn)
FIG. 57 India Base Oil Market, 2019-2032 (US$ Mn)
FIG. 58 South Korea Base Oil Market, 2019-2032 (US$ Mn)
FIG. 59 South-East Asia Base Oil Market, 2019-2032 (US$ Mn)
FIG. 60 Rest of Asia Pacific Base Oil Market, 2019-2032 (US$ Mn)
FIG. 61 Latin America Base Oil Market, 2019-2032 (US$ Mn)
FIG. 62 Brazil Base Oil Market, 2019-2032 (US$ Mn)
FIG. 63 Argentina Base Oil Market, 2019-2032 (US$ Mn)
FIG. 64 Rest of Latin America Base Oil Market, 2019-2032 (US$ Mn)
FIG. 65 Middle East Base Oil Market, 2019-2032 (US$ Mn)
FIG. 66 UAE Base Oil Market, 2019-2032 (US$ Mn)
FIG. 67 Saudi Arabia Base Oil Market, 2019-2032 (US$ Mn)
FIG. 68 Rest of Middle East Base Oil Market, 2019-2032 (US$ Mn)
FIG. 69 Africa Base Oil Market, 2019-2032 (US$ Mn)
FIG. 70 South Africa Base Oil Market, 2019-2032 (US$ Mn)
FIG. 71 Egypt Base Oil Market, 2019-2032 (US$ Mn)
FIG. 72 Rest of Africa Base Oil Market, 2019-2032 (US$ Mn)

List of Tables
TABLE 1 Market Snapshot: Global Base Oil Market
TABLE 2 Global Base Oil Market: Market Drivers Impact Analysis
TABLE 3 Global Base Oil Market: Market Restraints Impact Analysis
TABLE 4 Global Base Oil Market, by Competitive Benchmarking, 2023
TABLE 5 Global Base Oil Market, by Geographical Presence Analysis, 2023
TABLE 6 Global Base Oil Market, by Key Strategies Analysis, 2023
TABLE 7 Global Base Oil Market, by Group I Base Oils, By Region, 2019-2023 (US$ Mn)
TABLE 8 Global Base Oil Market, by Group I Base Oils, By Region, 2024-2032 (US$ Mn)
TABLE 9 Global Base Oil Market, by Group II Base Oils, By Region, 2019-2023 (US$ Mn)
TABLE 10 Global Base Oil Market, by Group II Base Oils, By Region, 2024-2032 (US$ Mn)
TABLE 11 Global Base Oil Market, by Group III Base Oils, By Region, 2019-2023 (US$ Mn)
TABLE 12 Global Base Oil Market, by Group III Base Oils, By Region, 2024-2032 (US$ Mn)
TABLE 13 Global Base Oil Market, by Group IV Base Oils (Polyalphaolefins – PAO), By Region, 2019-2023 (US$ Mn)
TABLE 14 Global Base Oil Market, by Group IV Base Oils (Polyalphaolefins – PAO), By Region, 2024-2032 (US$ Mn)
TABLE 15 Global Base Oil Market, by Group V Base Oils (including Esters, Polyalkylene Glycols, and Others), By Region, 2019-2023 (US$ Mn)
TABLE 16 Global Base Oil Market, by Group V Base Oils (including Esters, Polyalkylene Glycols, and Others), By Region, 2024-2032 (US$ Mn)
TABLE 17 Global Base Oil Market, by Automotive Oils (Engine Oils, Transmission Fluids), By Region, 2019-2023 (US$ Mn)
TABLE 18 Global Base Oil Market, by Automotive Oils (Engine Oils, Transmission Fluids), By Region, 2024-2032 (US$ Mn)
TABLE 19 Global Base Oil Market, by Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids), By Region, 2019-2023 (US$ Mn)
TABLE 20 Global Base Oil Market, by Industrial Oils (Hydraulic Oils, Process Oils, Metalworking Fluids), By Region, 2024-2032 (US$ Mn)
TABLE 21 Global Base Oil Market, by Greases, By Region, 2019-2023 (US$ Mn)
TABLE 22 Global Base Oil Market, by Greases, By Region, 2024-2032 (US$ Mn)
TABLE 23 Global Base Oil Market, by Metalworking, By Region, 2019-2023 (US$ Mn)
TABLE 24 Global Base Oil Market, by Metalworking, By Region, 2024-2032 (US$ Mn)
TABLE 25 Global Base Oil Market, by Others, By Region, 2019-2023 (US$ Mn)
TABLE 26 Global Base Oil Market, by Others, By Region, 2024-2032 (US$ Mn)
TABLE 27 Global Base Oil Market, by Automotive Industry, By Region, 2019-2023 (US$ Mn)
TABLE 28 Global Base Oil Market, by Automotive Industry, By Region, 2024-2032 (US$ Mn)
TABLE 29 Global Base Oil Market, by Industrial Sector, By Region, 2019-2023 (US$ Mn)
TABLE 30 Global Base Oil Market, by Industrial Sector, By Region, 2024-2032 (US$ Mn)
TABLE 31 Global Base Oil Market, by Metalworking Industry, By Region, 2019-2023 (US$ Mn)
TABLE 32 Global Base Oil Market, by Metalworking Industry, By Region, 2024-2032 (US$ Mn)
TABLE 33 Global Base Oil Market, by Others, By Region, 2019-2023 (US$ Mn)
TABLE 34 Global Base Oil Market, by Others, By Region, 2024-2032 (US$ Mn)
TABLE 35 Global Base Oil Market, by High Viscosity Index (HVI) Base Oils, By Region, 2019-2023 (US$ Mn)
TABLE 36 Global Base Oil Market, by High Viscosity Index (HVI) Base Oils, By Region, 2024-2032 (US$ Mn)
TABLE 37 Global Base Oil Market, by Low Viscosity Index (LVI) Base Oils, By Region, 2019-2023 (US$ Mn)
TABLE 38 Global Base Oil Market, by Low Viscosity Index (LVI) Base Oils, By Region, 2024-2032 (US$ Mn)
TABLE 39 Global Base Oil Market, by Onshore, By Region, 2019-2023 (US$ Mn)
TABLE 40 Global Base Oil Market, by Onshore, By Region, 2024-2032 (US$ Mn)
TABLE 41 Global Base Oil Market, by Offshore, By Region, 2019-2023 (US$ Mn)
TABLE 42 Global Base Oil Market, by Offshore, By Region, 2024-2032 (US$ Mn)
TABLE 43 Global Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 44 Global Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 45 Global Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 46 Global Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 47 Global Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 48 Global Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 49 Global Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 50 Global Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 51 Global Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 52 Global Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 53 Global Base Oil Market, by Region, 2019-2023 (US$ Mn)
TABLE 54 Global Base Oil Market, by Region, 2024-2032 (US$ Mn)
TABLE 55 North America Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 56 North America Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 57 North America Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 58 North America Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 59 North America Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 60 North America Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 61 North America Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 62 North America Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 63 North America Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 64 North America Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 65 North America Base Oil Market, by Country, 2019-2023 (US$ Mn)
TABLE 66 North America Base Oil Market, by Country, 2024-2032 (US$ Mn)
TABLE 67 United States Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 68 United States Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 69 United States Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 70 United States Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 71 United States Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 72 United States Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 73 United States Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 74 United States Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 75 United States Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 76 United States Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 77 Canada Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 78 Canada Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 79 Canada Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 80 Canada Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 81 Canada Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 82 Canada Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 83 Canada Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 84 Canada Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 85 Canada Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 86 Canada Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 87 Mexico Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 88 Mexico Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 89 Mexico Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 90 Mexico Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 91 Mexico Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 92 Mexico Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 93 Mexico Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 94 Mexico Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 95 Mexico Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 96 Mexico Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 97 Europe Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 98 Europe Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 99 Europe Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 100 Europe Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 101 Europe Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 102 Europe Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 103 Europe Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 104 Europe Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 105 Europe Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 106 Europe Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 107 Europe Base Oil Market, by Country, 2019-2023 (US$ Mn)
TABLE 108 Europe Base Oil Market, by Country, 2024-2032 (US$ Mn)
TABLE 109 Germany Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 110 Germany Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 111 Germany Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 112 Germany Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 113 Germany Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 114 Germany Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 115 Germany Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 116 Germany Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 117 Germany Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 118 Germany Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 119 France Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 120 France Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 121 France Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 122 France Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 123 France Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 124 France Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 125 France Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 126 France Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 127 France Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 128 France Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 129 United Kingdom Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 130 United Kingdom Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 131 United Kingdom Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 132 United Kingdom Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 133 United Kingdom Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 134 United Kingdom Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 135 United Kingdom Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 136 United Kingdom Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 137 United Kingdom Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 138 United Kingdom Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 139 Italy Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 140 Italy Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 141 Italy Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 142 Italy Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 143 Italy Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 144 Italy Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 145 Italy Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 146 Italy Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 147 Italy Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 148 Italy Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 149 Spain Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 150 Spain Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 151 Spain Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 152 Spain Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 153 Spain Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 154 Spain Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 155 Spain Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 156 Spain Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 157 Spain Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 158 Spain Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 159 Benelux Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 160 Benelux Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 161 Benelux Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 162 Benelux Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 163 Benelux Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 164 Benelux Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 165 Benelux Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 166 Benelux Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 167 Benelux Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 168 Benelux Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 169 Russia Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 170 Russia Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 171 Russia Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 172 Russia Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 173 Russia Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 174 Russia Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 175 Russia Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 176 Russia Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 177 Russia Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 178 Russia Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 179 Rest of Europe Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 180 Rest of Europe Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 181 Rest of Europe Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 182 Rest of Europe Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 183 Rest of Europe Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 184 Rest of Europe Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 185 Rest of Europe Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 186 Rest of Europe Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 187 Rest of Europe Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 188 Rest of Europe Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 189 Asia Pacific Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 190 Asia Pacific Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 191 Asia Pacific Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 192 Asia Pacific Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 193 Asia Pacific Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 194 Asia Pacific Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 195 Asia Pacific Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 196 Asia Pacific Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 197 Asia Pacific Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 198 Asia Pacific Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 199 China Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 200 China Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 201 China Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 202 China Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 203 China Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 204 China Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 205 China Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 206 China Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 207 China Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 208 China Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 209 Japan Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 210 Japan Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 211 Japan Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 212 Japan Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 213 Japan Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 214 Japan Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 215 Japan Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 216 Japan Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 217 Japan Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 218 Japan Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 219 India Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 220 India Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 221 India Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 222 India Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 223 India Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 224 India Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 225 India Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 226 India Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 227 India Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 228 India Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 229 South Korea Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 230 South Korea Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 231 South Korea Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 232 South Korea Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 233 South Korea Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 234 South Korea Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 235 South Korea Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 236 South Korea Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 237 South Korea Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 238 South Korea Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 239 South-East Asia Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 240 South-East Asia Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 241 South-East Asia Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 242 South-East Asia Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 243 South-East Asia Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 244 South-East Asia Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 245 South-East Asia Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 246 South-East Asia Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 247 South-East Asia Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 248 South-East Asia Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 249 Rest of Asia Pacific Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 250 Rest of Asia Pacific Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 251 Rest of Asia Pacific Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 252 Rest of Asia Pacific Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 253 Rest of Asia Pacific Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 254 Rest of Asia Pacific Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 255 Rest of Asia Pacific Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 256 Rest of Asia Pacific Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 257 Rest of Asia Pacific Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 258 Rest of Asia Pacific Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 259 Latin America Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 260 Latin America Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 261 Latin America Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 262 Latin America Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 263 Latin America Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 264 Latin America Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 265 Latin America Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 266 Latin America Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 267 Latin America Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 268 Latin America Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 269 Brazil Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 270 Brazil Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 271 Brazil Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 272 Brazil Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 273 Brazil Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 274 Brazil Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 275 Brazil Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 276 Brazil Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 277 Brazil Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 278 Brazil Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 279 Argentina Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 280 Argentina Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 281 Argentina Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 282 Argentina Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 283 Argentina Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 284 Argentina Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 285 Argentina Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 286 Argentina Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 287 Argentina Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 288 Argentina Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 289 Rest of Latin America Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 290 Rest of Latin America Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 291 Rest of Latin America Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 292 Rest of Latin America Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 293 Rest of Latin America Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 294 Rest of Latin America Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 295 Rest of Latin America Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 296 Rest of Latin America Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 297 Rest of Latin America Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 298 Rest of Latin America Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 299 Middle East Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 300 Middle East Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 301 Middle East Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 302 Middle East Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 303 Middle East Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 304 Middle East Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 305 Middle East Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 306 Middle East Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 307 Middle East Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 308 Middle East Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 309 UAE Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 310 UAE Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 311 UAE Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 312 UAE Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 313 UAE Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 314 UAE Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 315 UAE Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 316 UAE Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 317 UAE Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 318 UAE Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 319 Saudi Arabia Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 320 Saudi Arabia Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 321 Saudi Arabia Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 322 Saudi Arabia Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 323 Saudi Arabia Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 324 Saudi Arabia Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 325 Saudi Arabia Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 326 Saudi Arabia Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 327 Saudi Arabia Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 328 Saudi Arabia Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 329 Rest of Middle East Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 330 Rest of Middle East Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 331 Rest of Middle East Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 332 Rest of Middle East Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 333 Rest of Middle East Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 334 Rest of Middle East Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 335 Rest of Middle East Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 336 Rest of Middle East Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 337 Rest of Middle East Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 338 Rest of Middle East Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 339 Africa Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 340 Africa Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 341 Africa Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 342 Africa Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 343 Africa Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 344 Africa Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 345 Africa Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 346 Africa Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 347 Africa Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 348 Africa Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 349 South Africa Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 350 South Africa Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 351 South Africa Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 352 South Africa Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 353 South Africa Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 354 South Africa Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 355 South Africa Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 356 South Africa Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 357 South Africa Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 358 South Africa Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 359 Egypt Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 360 Egypt Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 361 Egypt Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 362 Egypt Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 363 Egypt Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 364 Egypt Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 365 Egypt Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 366 Egypt Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 367 Egypt Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 368 Egypt Base Oil Market, by Application Method, 2024-2032 (US$ Mn)
TABLE 369 Rest of Africa Base Oil Market, by Product Type, 2019-2023 (US$ Mn)
TABLE 370 Rest of Africa Base Oil Market, by Product Type, 2024-2032 (US$ Mn)
TABLE 371 Rest of Africa Base Oil Market, by Application, 2019-2023 (US$ Mn)
TABLE 372 Rest of Africa Base Oil Market, by Application, 2024-2032 (US$ Mn)
TABLE 373 Rest of Africa Base Oil Market, by End-User, 2019-2023 (US$ Mn)
TABLE 374 Rest of Africa Base Oil Market, by End-User, 2024-2032 (US$ Mn)
TABLE 375 Rest of Africa Base Oil Market, by Viscosity Index, 2019-2023 (US$ Mn)
TABLE 376 Rest of Africa Base Oil Market, by Viscosity Index, 2024-2032 (US$ Mn)
TABLE 377 Rest of Africa Base Oil Market, by Application Method, 2019-2023 (US$ Mn)
TABLE 378 Rest of Africa Base Oil Market, by Application Method, 2024-2032 (US$ Mn)

Frequently Asked Questions :

What is the current size of the global base oil market?

The global base oil market was valued at USD 29515.2 Million in 2023.

What is the expected growth rate of the base oil market between 2024 and 2032?

The base oil market is expected to grow at a CAGR of 5.2% between 2024 and 2032, reaching USD 46578.7 Million in 2032.

Which category is leading the market share in terms of product type?

Group II base oils are the leading segment by product type, holding over 25% share in value in 2023.

Which end-user segment governs the demand for base oil globally?

The automotive industry segment governs the demand for base oil globally, holding a massive share of over 30% in 2023.

Who are the major players in the global base oil market?

The top players include PetroCanada Lubricants Inc., CNOOC Limited, PETRONAS Lubricants International, Petroleum & Chemical Corp. (SINOPEC), PetroChina Co. Ltd, PT Pertamina (Persero), Abu Dhabi National Oil Company, Exxon Mobil Corporation, Shell Plc, Indian Oil Corporation Ltd, Chevron Corporation, Saudi Arabian Oil Co., BP Plc, Sepahan Oil, LUKOIL, SK Lubricants Co. Ltd, Bahrain Lube Base Oil Company, H&R OWS Chemie GmbH & Co. KG, Bharat Petroleum Corporation Ltd, GS Caltex Corporation, Neste, Repsol, and Others.

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