Analysts’ Viewpoint
The base oil market is at the forefront of the lubricants sector, ensuring the smooth operation of diverse machines and vehicle engines throughout the world. Rapid industrialization is a major factor driving market revenue. Lubricants are gaining traction in various end-use industries including industrial machinery, automotive, and energy.
Major players operating in the global base oil industry are focusing on the development of advanced products to expand their customer base. These novel products satisfy performance requirements and fit with environmental imperatives. The competitive dynamics of the base oil business are being reshaped by this paradigm shift toward eco-friendly and resource-efficient lubricating solutions.
Base oils are the foundation of lubricant compositions. They play an important role in the performance and lifetime of different industrial and automobile engines. Base oils are generally obtained by refining crude extracts at various temperatures and pressures. These oils are widely classified into numerous classes based on underlying attributes such as temperature and viscosity correlation, with each having distinct uses across diverse sectors. They are the most important components of lubricants, providing lubrication, heat dissipation, and corrosion prevention.
The global base oil sector is a dynamic and vital section of the petroleum industry, with its products essential in industries such as automotive, industrial, and aerospace. The base oil market landscape has witnessed significant change in the past few years owing to factors such as technical breakthroughs, demanding regulatory standards, and shift in customer tastes toward more sustainable and ecologically friendly goods. Thus, base oil manufacturers and end-users are looking for new solutions that exceed performance standards and correspond with increase in emphasis on sustainability and resource conservation.
Rise in utilization of lubricants across industries, surge in demand for group II and III base oils, and substantial investments in the thriving automotive sector are contributing to the base oil market growth.
Lubricants and their derivatives, especially finished lubricants, are in high demand as industries, particularly in emerging nations, are expanding significantly. This rise in demand is most noticeable in industries such as industrial machinery, automotive, and energy. In-depth base oil market analysis demonstrates a strong association between industrial expansion and lubricant consumption. Expansion of industrial sectors, particularly in emerging countries, is boosting demand for high-grade oils in the automobile sector.
Decline in crude oil sources and rise in emphasis on environmental safety is augmenting the need for environmentally acceptable synthetic hydraulic oils and fluids. These fluids are essential in aviation, manufacturing, construction, and automotive sectors, where they provide a range of services including power transmission, machinery lubrication, corrosion prevention, wear protection, and heat transfer. Hence, rapid industrialization and automation is fueling demand for hydraulic fluids, thereby propelling the base oil market size.
Hydraulic fluids transfer potential or kinetic energy, create volume flow between pumps and hydrostatic motors, and reduce the wear of parts that rub against each other. These fluids safeguard the system from corrosion and aid in the removal of heat generated during energy transformation.
Surge in adoption of hydraulic oils in automobile automatic transmissions, brakes, power steering, and industrial machinery, such as tractors and other agricultural equipment, forklift trucks, and bulldozers, is driving the base oil market expansion. In terms of production process, materials, and geometry, the automobile sector has grown significantly in the past few years. The sector is working on fulfilling higher mileage and reduced emissions criteria. This, in turn, is augmenting demand for metalworking fluids in the automotive sector. High-performance lubricants are gaining traction in the automotive sector process oils are also gaining popularity as plasticizers and carrier fluids in tire and rubber manufacturing.
Base oils are necessary basic fluids in the production of many lubricants. The automotive sector is a significant user of these lubricants, which are used in engine oils, transmission oils, and greases. Rise in global vehicle production volumes, driven by rapid population expansion and urbanization, is projected to propel the base oil market during the forecast period.
The global automotive sector, particularly in emerging economies, is expanding rapidly. The number of government, corporate, and individual automobiles on the road is rapidly increasing. The International Organization of Automobile Manufacturers (OICA) reports that new automobile sales increased from 87.5 million in 2013 to 95.05 million in 2018. This surge in sales is likely linked with continued microeconomic development, efficient and cost-effective car manufacturing technologies, and growth in the middle-class consumer base. Thus, rise in automotive production and sales is expected to boost demand for base oil in the near future.
According to the latest base oil market forecast, Asia Pacific is anticipated to hold largest share from 2023 to 2031. The region dominated the industry in 2022 with a revenue share of 42.1%. Presence of thriving economies and growth in disposable income are fueling the market dynamics of the region.
China is a major market for base oils in Asia Pacific due to economic expansion and surge in demand for lubricants and associated goods. Rise in production of vehicles and expansion in the manufacturing sector is also driving the base oil market development in the country. Access to raw supplies, greater foreign investment, fast industrialization, and growth in the population are also contributing to the market trajectory in China. The industry in India is predicted to grow at a rapid pace during the forecast period owing to the presence of various base oil producers and rapid infrastructure development in the country.
North America accounted for 19.6% share in 2022. Rise in demand for lubricants in the U.S., driven by the implementation of stringent emission regulations and research in automation technologies, is boosting market value in North America.
Europe held 17.3% market share, which is expected to fall to 17.1% by the end of 2031 due to the recovering economy. However, increase in government investment in R&D of automotive technologies, and reduction in prices of group I base oils are anticipated to contribute to the global base oil industry growth during the forecast period.
Most companies are employing several strategies to increase their base oil market share. They are also investing in R&D of new products to expand product portfolio. SK Lubricants, Shell plc, Petronas, ADNOC, S-Oil Corporation, Nynas AB, Chevron Corporation, Repsol, GS Caltex Corporation, and PetroChina Company Limited are key players in the base oil market.
Each of these companies has been profiled in the base oil market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments. The report also provides detailed insights into the industry's dynamics. It throws light on changing trends, competitive landscapes, and new possibilities, providing stakeholders with useful information for strategic decision-making.
| Attribute | Detail |
|---|---|
| Market Value in 2022 | US$ 39.1 Bn |
| Forecast Value in 2031 | US$ 54.9 Bn |
| Growth Rate (CAGR) | 3.8% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2020-2022 |
| Quantitative Tons | US$ Bn for Value and Kilo Tons for Volume |
| Market Analysis | It includes segment analysis as well as regional level analysis. Furthermore, the qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces Analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 39.1 Bn in 2022
It is projected to grow at a CAGR of 3.8% from 2023 to 2031
Rapid industrialization in emerging economies and increase in production of automobiles in developing countries
Automotive fluids was the largest application segment in 2022
Asia Pacific recorded the highest demand in 2022
SK Lubricants, Shell plc, Petronas, ADNOC, S- Oil Corporation, Nynas AB, Chevron Corporation, Repsol, GS Caltex Corporation, and PetroChina Company Limited
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Key Facts and Figures
1.4. Trends Impacting Market
1.5. TMR’s Growth Opportunity Wheel
2. Market Overview
2.1. Market Segmentation
2.2. Key Developments
2.3. Market Definitions
2.4. Key Market Trends
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunities
2.6. Global Base Oil Market Analysis and Forecast, 2023-2031
2.6.1. Global Base Oil Market Volume (Kilo Tons)
2.6.2. Global Base Oil Market Revenue (US$ Bn)
2.7. Porter’s Five Forces Analysis
2.8. Regulatory Landscape
2.9. Value Chain Analysis
2.9.1. List of Component Providers
2.9.2. List of Manufacturers
2.9.3. List of Dealers/Distributors
2.9.4. List of Potential Customers
2.10. Product Specification Analysis
2.11. Production Overview
2.12. Cost Structure Analysis
3. COVID-19 Impact Analysis
3.1. Impact on Supply Chain of Base Oil
3.2. Impact on Demand for Base Oil - Pre & Post Crisis
4. Impact of Current Geopolitical Scenario on Market
5. Production Output Analysis (Tons)
5.1. North America
5.2. Europe
5.3. Asia Pacific
5.4. Latin America
5.5. Middle East & Africa
6. Price Trend Analysis and Forecast (US$/Ton), 2023-2031
6.1. Price Comparison Analysis by Group
6.2. Price Comparison Analysis by Region
7. Global Base Oil Market Analysis and Forecast, by Group, 2023-2031
7.1. Introduction and Definitions
7.2. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
7.2.1. Group I
7.2.2. Group II
7.2.3. Group II+
7.2.4. Group III
7.2.5. Group III+
7.2.6. Group IV (PAO)
7.2.7. Group V (excluding Naphthenic)
7.2.8. Others
7.3. Base Oil Market Attractiveness, by Group
8. Global Base Oil Market Analysis and Forecast, by Application, 2023-2031
8.1. Introduction and Definitions
8.2. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
8.2.1. Automotive Fluids
8.2.2. Process Oils
8.2.3. Industrial Oils
8.2.4. Metalworking Fluids
8.2.5. Hydraulic Oils
8.2.6. Others
8.3. Base Oil Market Attractiveness, by Application
9. Global Base Oil Market Analysis and Forecast, by Region, 2023-2031
9.1. Key Findings
9.2. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Region, 2023-2031
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Base Oil Market Attractiveness, by Region
10. North America Base Oil Market Analysis and Forecast, 2023-2031
10.1. Key Findings
10.2. North America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
10.3. North America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
10.4. North America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Country, 2023-2031
10.4.1. U.S. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
10.4.2. U.S. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
10.4.3. Canada Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
10.4.4. Canada Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
10.5. North America Base Oil Market Attractiveness Analysis
11. Europe Base Oil Market Analysis and Forecast, 2023-2031
11.1. Key Findings
11.2. Europe Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.3. Europe Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
11.4. Europe Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
11.4.1. Germany Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.2. Germany. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.4.3. France Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.4. France. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.4.5. U.K. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.6. U.K. Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.4.7. Italy Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.8. Italy Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.4.9. Russia & CIS Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.10. Russia & CIS Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.4.11. Rest of Europe Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
11.4.12. Rest of Europe Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
11.5. Europe Base Oil Market Attractiveness Analysis
12. Asia Pacific Base Oil Market Analysis and Forecast, 2023-2031
12.1. Key Findings
12.2. Asia Pacific Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group
12.3. Asia Pacific Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
12.4. Asia Pacific Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
12.4.1. China Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
12.4.2. China Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
12.4.3. Japan Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
12.4.4. Japan Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
12.4.5. India Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
12.4.6. India Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
12.4.7. ASEAN Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
12.4.8. ASEAN Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
12.4.9. Rest of Asia Pacific Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
12.4.10. Rest of Asia Pacific Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
12.5. Asia Pacific Base Oil Market Attractiveness Analysis
13. Latin America Base Oil Market Analysis and Forecast, 2023-2031
13.1. Key Findings
13.2. Latin America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
13.3. Latin America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
13.4. Latin America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
13.4.1. Brazil Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
13.4.2. Brazil Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
13.4.3. Mexico Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
13.4.4. Mexico Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
13.4.5. Rest of Latin America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
13.4.6. Rest of Latin America Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
13.5. Latin America Base Oil Market Attractiveness Analysis
14. Middle East & Africa Base Oil Market Analysis and Forecast, 2023-2031
14.1. Key Findings
14.2. Middle East & Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
14.3. Middle East & Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Application, 2023-2031
14.4. Middle East & Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
14.4.1. GCC Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
14.4.2. GCC Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
14.4.3. South Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
14.4.4. South Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
14.4.5. Rest of Middle East & Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Group, 2023-2031
14.4.6. Rest of Middle East & Africa Base Oil Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, Application, 2023-2031
14.5. Middle East & Africa Base Oil Market Attractiveness Analysis
15. Competition Landscape
15.1. Market Players - Competition Matrix (by Tier and Size of Companies)
15.2. Market Share Analysis, 2022
15.3. Market Footprint Analysis
15.3.1. By Group
15.3.2. By Application
15.4. Company Profiles
15.4.1. SK Lubricants
15.4.1.1. Company Revenue
15.4.1.2. Business Overview
15.4.1.3. Product Segments
15.4.1.4. Geographic Footprint
15.4.1.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.1.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.2. Shell plc
15.4.2.1. Company Revenue
15.4.2.2. Business Overview
15.4.2.3. Product Segments
15.4.2.4. Geographic Footprint
15.4.2.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.2.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.3. Petronas
15.4.3.1. Company Revenue
15.4.3.2. Business Overview
15.4.3.3. Product Segments
15.4.3.4. Geographic Footprint
15.4.3.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.3.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.4. ADNOC
15.4.4.1. Company Revenue
15.4.4.2. Business Overview
15.4.4.3. Product Segments
15.4.4.4. Geographic Footprint
15.4.4.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.4.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.5. S-Oil Corporation
15.4.5.1. Company Revenue
15.4.5.2. Business Overview
15.4.5.3. Product Segments
15.4.5.4. Geographic Footprint
15.4.5.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.5.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.6. Nynas AB
15.4.6.1. Company Revenue
15.4.6.2. Business Overview
15.4.6.3. Product Segments
15.4.6.4. Geographic Footprint
15.4.6.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.6.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.7. Chevron Corporation
15.4.7.1. Company Revenue
15.4.7.2. Business Overview
15.4.7.3. Product Segments
15.4.7.4. Geographic Footprint
15.4.7.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.7.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.8. Repsol
15.4.8.1. Company Revenue
15.4.8.2. Business Overview
15.4.8.3. Product Segments
15.4.8.4. Geographic Footprint
15.4.8.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.8.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.9. GS Caltex corporation
15.4.9.1. Company Revenue
15.4.9.2. Business Overview
15.4.9.3. Product Segments
15.4.9.4. Geographic Footprint
15.4.9.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.9.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
15.4.10. PetroChina Company limited
15.4.10.1. Company Revenue
15.4.10.2. Business Overview
15.4.10.3. Product Segments
15.4.10.4. Geographic Footprint
15.4.10.5. Production Process/Plant Details, etc. (*As Applicable)
15.4.10.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
16. Primary Research: Key Insights
17. Appendix
List of Tables
Table 1: Global Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 2: Global Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 3: Global Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 4: Global Base Oil Market Value (US$ Bn) Forecast, by Application, 2023-2031
Table 5: Global Base Oil Market Volume (Kilo Tons) Forecast, by Region, 2023-2031
Table 6: Global Base Oil Market Value (US$ Bn) Forecast, by Region, 2023-2031
Table 7: North America Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 8: North America Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 9: North America Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 10: North America Base Oil Market Value (US$ Bn) Forecast, by Application, 2023-2031
Table 11: North America Base Oil Market Volume (Kilo Tons) Forecast, by Country, 2023-2031
Table 12: North America Base Oil Market Value (US$ Bn) Forecast, by Country, 2023-2031
Table 13: U.S. Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 14: U.S. Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 15: U.S. Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 16: U.S. Base Oil Market Value (US$ Bn) Forecast, by Application, 2023-2031
Table 17: Canada Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 18: Canada Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 19: Canada Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 20: Canada Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 21: Europe Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 22: Europe Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 23: Europe Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 24: Europe Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 25: Europe Base Oil Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2023-2031
Table 26: Europe Base Oil Market Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
Table 27: Germany Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 28: Germany Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 29: Germany Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 30: Germany Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 31: France Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 32: France Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 33: France Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 34: France Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 35: U.K. Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 36: U.K. Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 37: U.K. Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 38: U.K. Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 39: Italy Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 40: Italy Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 41: Italy Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 42: Italy Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 43: Spain Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 44: Spain Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 45: Spain Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 46: Spain Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 47: Russia & CIS Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 48: Russia & CIS Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 49: Russia & CIS Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 50: Russia & CIS Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 51: Rest of Europe Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 52: Rest of Europe Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 53: Rest of Europe Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 54: Rest of Europe Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 55: Asia Pacific Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 56: Asia Pacific Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 57: Asia Pacific Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 58: Asia Pacific Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 59: Asia Pacific Base Oil Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2023-2031
Table 60: Asia Pacific Base Oil Market Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
Table 61: China Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 62: China Base Oil Market Value (US$ Bn) Forecast, by Group 2023-2031
Table 63: China Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 64: China Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 65: Japan Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 66: Japan Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 67: Japan Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 68: Japan Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 69: India Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 70: India Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 71: India Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 72: India Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 73: ASEAN Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 74: ASEAN Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 75: ASEAN Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 76: ASEAN Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 77: Rest of Asia Pacific Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 78: Rest of Asia Pacific Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 79: Rest of Asia Pacific Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 80: Rest of Asia Pacific Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 81: Latin America Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 82: Latin America Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 83: Latin America Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 84: Latin America Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 85: Latin America Base Oil Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2023-2031
Table 86: Latin America Base Oil Market Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
Table 87: Brazil Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 88: Brazil Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 89: Brazil Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 90: Brazil Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 91: Mexico Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 92: Mexico Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 93: Mexico Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 94: Mexico Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 95: Rest of Latin America Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 96: Rest of Latin America Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 97: Rest of Latin America Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 98: Rest of Latin America Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 99: Middle East & Africa Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 100: Middle East & Africa Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 101: Middle East & Africa Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 102: Middle East & Africa Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 103: Middle East & Africa Base Oil Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2023-2031
Table 104: Middle East & Africa Base Oil Market Value (US$ Bn) Forecast, by Country and Sub-region, 2023-2031
Table 105: GCC Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 106: GCC Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 107: GCC Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 108: GCC Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 109: South Africa Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 110: South Africa Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 111: South Africa Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 112: South Africa Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
Table 113: Rest of Middle East & Africa Base Oil Market Volume (Kilo Tons) Forecast, by Group, 2023-2031
Table 114: Rest of Middle East & Africa Base Oil Market Value (US$ Bn) Forecast, by Group, 2023-2031
Table 115: Rest of Middle East & Africa Base Oil Market Volume (Kilo Tons) Forecast, by Application, 2023-2031
Table 116: Rest of Middle East & Africa Base Oil Market Value (US$ Bn) Forecast, by Application 2023-2031
List of Figures
Figure 1: Global Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 2: Global Base Oil Market Attractiveness, by Group
Figure 3: Global Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 4: Global Base Oil Market Attractiveness, by Application
Figure 5: Global Base Oil Market Volume Share Analysis, by Region, 2022, 2027, and 2031
Figure 6: Global Base Oil Market Attractiveness, by Region
Figure 7: North America Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 8: North America Base Oil Market Attractiveness, by Group
Figure 9: North America Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 10: North America Base Oil Market Attractiveness, by Application
Figure 11: North America Base Oil Market Volume Share Analysis, by Country, 2022, 2027, and 2031
Figure 12: North America Base Oil Market Attractiveness, by Country
Figure 13: Europe Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 14: Europe Base Oil Market Attractiveness, by Group
Figure 15: Europe Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 16: Europe Base Oil Market Attractiveness, by Application
Figure 17: Europe Base Oil Market Volume Share Analysis, by Country and Sub-region, 2022, 2027, and 2031
Figure 18: Europe Base Oil Market Attractiveness, by Country and Sub-region
Figure 19: Asia Pacific Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 20: Asia Pacific Base Oil Market Attractiveness, by Group
Figure 21: Asia Pacific Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 22: Asia Pacific Base Oil Market Attractiveness, by Application
Figure 23: Asia Pacific Base Oil Market Volume Share Analysis, by Country and Sub-region, 2022, 2027, and 2031
Figure 24: Asia Pacific Base Oil Market Attractiveness, by Country and Sub-region
Figure 25: Latin America Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 26: Latin America Base Oil Market Attractiveness, by Group
Figure 27: Latin America Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 28: Latin America Base Oil Market Attractiveness, by Application
Figure 29: Latin America Base Oil Market Volume Share Analysis, by Country and Sub-region, 2022, 2027, and 2031
Figure 30: Latin America Base Oil Market Attractiveness, by Country and Sub-region
Figure 31: Middle East & Africa Base Oil Market Volume Share Analysis, by Group, 2022, 2027, and 2031
Figure 32: Middle East & Africa Base Oil Market Attractiveness, by Group
Figure 33: Middle East & Africa Base Oil Market Volume Share Analysis, by Application, 2022, 2027, and 2031
Figure 34: Middle East & Africa Base Oil Market Attractiveness, by Application
Figure 35: Middle East & Africa Base Oil Market Volume Share Analysis, by Country and Sub-region, 2022, 2027, and 2031
Figure 36: Middle East & Africa Base Oil Market Attractiveness, by Country and Sub-region
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