Market Overview:
The global lubricating oil refining market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for lubricating oils from various end-use industries, such as cosmetics, rubber manufacturing, candle manufacturing, pharmaceuticals and others. In terms of type, fully refined wax segment is expected to hold the largest share in the global lubricating oil refining market during the forecast period. This can be attributed to its growing demand from various end-use industries on account of its properties such as high purity and thermal stability.
Product Definition:
Lubricating oil refining is the process of purifying and improving the quality of lubricating oils. The main purpose of lubricating oil refining is to improve the performance of the oil by removing contaminants and adding additives that improve its properties.
Fully Refined Wax:
Fully refined wax is a product that has been purified and bleached. It consists of long-chained hydrocarbons, which are almost entirely consumed during the refining process. The product is used as an additive in lubricating oil to improve its viscosity index and to remove water contamination from the oil.
Rubber Process Oil:
Rubber process oil is a type of lubricating oil which finds its major application in the manufacture of tires. It is also used as an additive to improve certain properties of lubricants such as anti-wear, cold flow, and oxidation resistance. Rubber process oils are manufactured by modifying conventional mineral oils through the addition of antioxidants and other additives to protect rubber during vulcanization (heating & cooling).
Application Insights:
The cosmetics industry is one of the major consumers of lubricating oils, accounting for over 25% in 2015. The growth can be attributed to the increasing use in manufacturing creams, ointments and lotions. In addition, rising demand from other applications such as pharmaceuticals and food processing is expected to drive growth over the forecast period.
Rubber manufacturing accounted for a significant share in 2015 owing to its growing global demand coupled with high refining output particularly in Asia Pacific region. Growing rubber product requirement across various industries including automotive & transportation and construction are anticipated to boost market growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from end-use industries such as automotive, construction, and cosmetics. China is one of the largest markets for lubricating oils globally owing to rapid industrialization along with a large population base within its borders. India also contributes significantly towards regional growth owing to rising automobile production levels across various states including Gujarat, Maharashtra, Karnataka, Tamil Nadu etc., which in turn drives product demand for gear lubrication purposes.
Europe was estimated at USD X million in 2017 and is anticipated to witness significant gains over the forecast period on account of growing automotive industry trends across Germany, U.K.
Growth Factors:
- Increasing demand for lubricating oils from the automotive and industrial sectors
- Rising awareness about the benefits of using synthetic lubricants over mineral oils
- Technological advancements in refining processes that improve product quality and efficiency
- Growing demand for bio-based lubricants as a replacement for traditional petroleum-based products
- Stringent environmental regulations to reduce emissions from refineries
Scope Of The Report
Report Attributes
Report Details
Report Title
Lubricating Oil Refining Market Research Report
By Type
Fully Refined Wax, Rubber Process Oil, White Oil, Slack Wax, Semi Refined Wax, Petrolatum, Microcrystalline Wax, Others
By Application
Cosmetics Industry, Rubber Manufacturing, Candle Manufacturing, Pharmaceutical Industry, Other
By Companies
Exxon Mobil, Sinopec, Royal Dutch Shell, Eni S.P.A., Sasol, Total SA, Petrochina, Chevron, Repsol, LUKOIL, Petroliam Nasional Berhad, Grupa Lotos SA, Nippon Seiro, Hollyfrontier, Nynas, Petrobras, The International Group, Indian Oil Corporation, Honeywell International, Cepsa SA
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Lubricating Oil Refining Market Report Segments:
The global Lubricating Oil Refining market is segmented on the basis of:
Types
Fully Refined Wax, Rubber Process Oil, White Oil, Slack Wax, Semi Refined Wax, Petrolatum, Microcrystalline Wax, Others
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
Cosmetics Industry, Rubber Manufacturing, Candle Manufacturing, Pharmaceutical Industry, Other
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:
- Exxon Mobil
- Sinopec
- Royal Dutch Shell
- Eni S.P.A.
- Sasol
- Total SA
- Petrochina
- Chevron
- Repsol
- LUKOIL
- Petroliam Nasional Berhad
- Grupa Lotos SA
- Nippon Seiro
- Hollyfrontier
- Nynas
- Petrobras
- The International Group
- Indian Oil Corporation
- Honeywell International
- Cepsa SA
Highlights of The Lubricating Oil Refining 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:
- Fully Refined Wax
- Rubber Process Oil
- White Oil
- Slack Wax
- Semi Refined Wax
- Petrolatum
- Microcrystalline Wax
- Others
- By Application:
- Cosmetics Industry
- Rubber Manufacturing
- Candle Manufacturing
- Pharmaceutical Industry
- Other
- 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 Lubricating Oil Refining 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.
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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?
Lubricating oil refining is the process of removing contaminants and impurities from lubricating oils. The end product is a high-quality, refined oil that can be used in a variety of applications.
Some of the major companies in the lubricating oil refining market are Exxon Mobil, Sinopec, Royal Dutch Shell, Eni S.P.A., Sasol, Total SA, Petrochina, Chevron, Repsol, LUKOIL, Petroliam Nasional Berhad, Grupa Lotos SA, Nippon Seiro, Hollyfrontier, Nynas, Petrobras, The International Group, Indian Oil Corporation, Honeywell International, Cepsa SA.
The lubricating oil refining market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lubricating Oil Refining Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Lubricating Oil Refining Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Lubricating Oil Refining Market - Supply Chain
4.5. Global Lubricating Oil Refining Market Forecast
4.5.1. Lubricating Oil Refining Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Lubricating Oil Refining Market Size (000 Units) and Y-o-Y Growth
4.5.3. Lubricating Oil Refining Market Absolute $ Opportunity
5. Global Lubricating Oil Refining Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Lubricating Oil Refining Market Size and Volume Forecast by Type
5.3.1. Fully Refined Wax
5.3.2. Rubber Process Oil
5.3.3. White Oil
5.3.4. Slack Wax
5.3.5. Semi Refined Wax
5.3.6. Petrolatum
5.3.7. Microcrystalline Wax
5.3.8. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Lubricating Oil Refining Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Lubricating Oil Refining Market Size and Volume Forecast by Application
6.3.1. Cosmetics Industry
6.3.2. Rubber Manufacturing
6.3.3. Candle Manufacturing
6.3.4. Pharmaceutical Industry
6.3.5. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Lubricating Oil Refining Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Lubricating Oil Refining Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Lubricating Oil Refining Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Lubricating Oil Refining Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Lubricating Oil Refining Demand Share Forecast, 2019-2026
9. North America Lubricating Oil Refining Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Lubricating Oil Refining Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Lubricating Oil Refining Market Size and Volume Forecast by Application
9.4.1. Cosmetics Industry
9.4.2. Rubber Manufacturing
9.4.3. Candle Manufacturing
9.4.4. Pharmaceutical Industry
9.4.5. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Lubricating Oil Refining Market Size and Volume Forecast by Type
9.7.1. Fully Refined Wax
9.7.2. Rubber Process Oil
9.7.3. White Oil
9.7.4. Slack Wax
9.7.5. Semi Refined Wax
9.7.6. Petrolatum
9.7.7. Microcrystalline Wax
9.7.8. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Lubricating Oil Refining Demand Share Forecast, 2019-2026
10. Latin America Lubricating Oil Refining Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Lubricating Oil Refining Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Lubricating Oil Refining Market Size and Volume Forecast by Application
10.4.1. Cosmetics Industry
10.4.2. Rubber Manufacturing
10.4.3. Candle Manufacturing
10.4.4. Pharmaceutical Industry
10.4.5. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Lubricating Oil Refining Market Size and Volume Forecast by Type
10.7.1. Fully Refined Wax
10.7.2. Rubber Process Oil
10.7.3. White Oil
10.7.4. Slack Wax
10.7.5. Semi Refined Wax
10.7.6. Petrolatum
10.7.7. Microcrystalline Wax
10.7.8. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Lubricating Oil Refining Demand Share Forecast, 2019-2026
11. Europe Lubricating Oil Refining Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Lubricating Oil Refining Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Lubricating Oil Refining Market Size and Volume Forecast by Application
11.4.1. Cosmetics Industry
11.4.2. Rubber Manufacturing
11.4.3. Candle Manufacturing
11.4.4. Pharmaceutical Industry
11.4.5. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Lubricating Oil Refining Market Size and Volume Forecast by Type
11.7.1. Fully Refined Wax
11.7.2. Rubber Process Oil
11.7.3. White Oil
11.7.4. Slack Wax
11.7.5. Semi Refined Wax
11.7.6. Petrolatum
11.7.7. Microcrystalline Wax
11.7.8. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Lubricating Oil Refining Demand Share, 2019-2026
12. Asia Pacific Lubricating Oil Refining Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Lubricating Oil Refining Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Lubricating Oil Refining Market Size and Volume Forecast by Application
12.4.1. Cosmetics Industry
12.4.2. Rubber Manufacturing
12.4.3. Candle Manufacturing
12.4.4. Pharmaceutical Industry
12.4.5. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Lubricating Oil Refining Market Size and Volume Forecast by Type
12.7.1. Fully Refined Wax
12.7.2. Rubber Process Oil
12.7.3. White Oil
12.7.4. Slack Wax
12.7.5. Semi Refined Wax
12.7.6. Petrolatum
12.7.7. Microcrystalline Wax
12.7.8. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Lubricating Oil Refining Demand Share, 2019-2026
13. Middle East & Africa Lubricating Oil Refining Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Lubricating Oil Refining Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Lubricating Oil Refining Market Size and Volume Forecast by Application
13.4.1. Cosmetics Industry
13.4.2. Rubber Manufacturing
13.4.3. Candle Manufacturing
13.4.4. Pharmaceutical Industry
13.4.5. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Lubricating Oil Refining Market Size and Volume Forecast by Type
13.7.1. Fully Refined Wax
13.7.2. Rubber Process Oil
13.7.3. White Oil
13.7.4. Slack Wax
13.7.5. Semi Refined Wax
13.7.6. Petrolatum
13.7.7. Microcrystalline Wax
13.7.8. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Lubricating Oil Refining Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Lubricating Oil Refining Market: Market Share Analysis
14.2. Lubricating Oil Refining Distributors and Customers
14.3. Lubricating Oil Refining Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Exxon Mobil
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Sinopec
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Royal Dutch Shell
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Eni S.P.A.
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sasol
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Total SA
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Petrochina
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Chevron
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Repsol
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. LUKOIL
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Petroliam Nasional Berhad
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Grupa Lotos SA
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Nippon Seiro
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Hollyfrontier
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Nynas
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Petrobras
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. The International Group
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Indian Oil Corporation
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Honeywell International
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Cepsa SA
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