Market Overview:
The global lubricant base oil market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for automotive oil, metalworking fluids, hydraulic oil, greases and other lubricants across the globe. Additionally, the growing industrialization and urbanization are also contributing to the growth of this market. On the basis of type, mineral oils accounted for a majority share of the global lubricant base oil market in 2017. However, synthetic oils are expected to grow at a higher CAGR during 2018-2030 owing to their superior properties as compared with mineral oils. On account of their high viscosity index (VI) and low pour point (PP), synthetic oils offer better performance than mineral oils in extreme temperature conditions. They also have lower emissions levels and longer service life as compared with mineral oils which is likely to boost their demand over the forecast period. Based on application, automotive oil held a dominant position in 2017 and is projected to maintain its lead during 2018-2030 owingto rising demand for passenger cars and commercial vehicles across different regions worldwide . In terms of volume , Asia Pacific accounted for maximum share followed by Europe in 2017 .
Product Definition:
Lubricant Base Oil is a purified mineral oil that serves as the foundation for lubricating oils. It is used to help reduce wear and friction in machines, and to keep parts moving smoothly.
Mineral Oil:
Mineral oil is a type of petroleum liquid derived from the distillation of crude oil. It consists of a mixture of hydrocarbons ranging from organics to inorganics. The major components found in mineral oils are paraffins, naphthenes, and waxes along with some sulfur and chlorine compounds.
Synthetic Oil:
Synthetic oil is a manufactured or artificial oil. It is usually produced by the chemical process of synthesis and has no relation to natural oils such as petroleum, vegetable oils, animal fats or bio-based mineral oils. Synthetic lubricants are designed to provide similar performance as compared to conventional mineral based lubricants but with higher stability and better resistance towards oxidation (a chemical reaction).
The global synthetic oil market size was valued at USD 4.5 billion in 2015.
Application Insights:
The global oil market is segmented by application into automotive, metalworking fluids, hydraulic oils, greases and other applications. The automotive application segment led the global market in 2017 and will maintain its dominance over the forecast period owing to increasing vehicle production across the globe.
Automotive oils are further categorized based on their properties such as viscosity grades (light-, medium- & heavy-duty), color (white/clear/colorless) and flash point. Based on performance requirements, various viscosity grades of motor oil are developed for different vehicles ranging from small cars to large trucks among others. Furthermore, a wide range of colors including red colored motor oil is developed for vehicles that operate at a high temperature which may vary from country to country depending upon local preferences among manufacturers.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to witness significant growth over the forecast period. The presence of major automobile manufacturers such as Toyota, Honda, Nissan and Suzuki coupled with growing industrialization in this region is anticipated to drive demand for base oil in automotive application.
The Asia Pacific was followed by Europe which accounted for a share of more than 30% of the total volume owing to high demand from industries including metalworking, textile machinery, food processing & packaging machinery among others. Growing production levels of automobiles along with increasing investments towards research & development activities are likely to boost product consumption across various applications over the coming years.
North America also held a considerable market share owing to rising product consumption levels across several end-use industries such as paints & coatings; printing ink; pharmaceuticals; rubber manufacturing etc., especially where lubricant additives are used for reducing contaminants or improving engine efficiency or durability among other functions.
Growth Factors:
- Increasing demand for lubricants from the transportation sector: The transportation sector is one of the key consumers of lubricants and is expected to grow at a CAGR of more than 5% during the forecast period. This will be primarily due to the increasing demand for passenger cars and commercial vehicles in developing countries such as China, India, and Brazil.
- Rising investments in industrial infrastructure: The growth of industries such as automotive, construction, mining, and oil & gas is expected to drive the demand for lubricant base oils in the coming years. These industries are witnessing rapid expansion owing to rising investments in industrial infrastructure across different regions.
- Growing awareness about benefits of using synthetic lubricants: Synthetic lubricants offer a number of advantages over mineral-based oils including better performance under extreme conditions, longer life cycle, and reduced environmental impact. As a result, their adoption is increasing rapidly across different end-use segments.
Scope Of The Report
Report Attributes
Report Details
Report Title
Lubricant Base Oil Market Research Report
By Type
Mineral Oil, Synthetic Oil
By Application
Automotive Oil, Metalworking Fluids, Hydraulic Oil, Greases, Others
By Companies
Royal Dutch Shell, Chevron, Neste Oil, Exxon Mobil, Total, Sinopec
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Lubricant Base Oil Market Report Segments:
The global Lubricant Base Oil market is segmented on the basis of:
Types
Mineral Oil, Synthetic Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive Oil, Metalworking Fluids, Hydraulic Oil, Greases, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Royal Dutch Shell
- Chevron
- Neste Oil
- Exxon Mobil
- Total
- Sinopec
Highlights of The Lubricant Base Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Oil
- Synthetic Oil
- By Application:
- Automotive Oil
- Metalworking Fluids
- Hydraulic Oil
- Greases
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lubricant Base Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Lubricant base oil is a petroleum-based product that is used as a lubricant and to reduce friction. It can be found in many different forms, including liquid, gel, and solid.
Some of the major companies in the lubricant base oil market are Royal Dutch Shell, Chevron, Neste Oil, Exxon Mobil, Total, Sinopec.
The lubricant base oil market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lubricant Base Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Lubricant Base Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Lubricant Base Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Lubricant Base Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Lubricant Base Oil Market Size & Forecast, 2020-2028
4.5.1 Lubricant Base Oil Market Size and Y-o-Y Growth
4.5.2 Lubricant Base Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Mineral Oil
5.2.2 Synthetic Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automotive Oil
6.2.2 Metalworking Fluids
6.2.3 Hydraulic Oil
6.2.4 Greases
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Lubricant Base Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Lubricant Base Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Mineral Oil
9.6.2 Synthetic Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automotive Oil
9.10.2 Metalworking Fluids
9.10.3 Hydraulic Oil
9.10.4 Greases
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Mineral Oil
10.6.2 Synthetic Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automotive Oil
10.10.2 Metalworking Fluids
10.10.3 Hydraulic Oil
10.10.4 Greases
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Mineral Oil
11.6.2 Synthetic Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automotive Oil
11.10.2 Metalworking Fluids
11.10.3 Hydraulic Oil
11.10.4 Greases
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Mineral Oil
12.6.2 Synthetic Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automotive Oil
12.10.2 Metalworking Fluids
12.10.3 Hydraulic Oil
12.10.4 Greases
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Mineral Oil
13.6.2 Synthetic Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automotive Oil
13.10.2 Metalworking Fluids
13.10.3 Hydraulic Oil
13.10.4 Greases
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Lubricant Base Oil Market: Competitive Dashboard
14.2 Global Lubricant Base Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Royal Dutch Shell
14.3.2 Chevron
14.3.3 Neste Oil
14.3.4 Exxon Mobil
14.3.5 Total
14.3.6 Sinopec
