PUBLISHED DATE : Apr 2022 | Pages : 259
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The Group II & III Base Oil Market Size, Share, Trends Analysis Report by
Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2027.
259 Pages
72 Tables
112 Charts
5 Regions
20 Countries
21 Companies
3 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size (2027) | USD 29.8 BILLION |
| Market Size (2021) | USD 20.2 BILLION |
| CAGR | 6.70% |
| MARKET SIZE (UNIT SHIPMENT) | 40 Million Tons |
| Base Year | 2021 |
| Forecast Year | 2022-2027 |
| Market Segments | By Technology(Hydrocracking, Hydrotreating, Catalytic Dewaxing) By Application (Automotive oil, Industrial oil, Process oil, and others |
The global Group II & III base oil market was valued at USD 20.2 billion in 2021 and is projected to reach USD 29.8 billion by 2027, growing at a CAGR of 6.70% during the forecast period 2022-2027.
Group II & III base oils are premium base oils produced through the hydrocracking of crude oil. They contain more than 90% saturates and less than 0.03% sulfur content. Due to its higher viscosity index, group III base oils are primarily used in industrial lubricants applications, and in high-performance engine oils to meet stringent engine oil standards without blending poly alpha olefins (PAO). Group II & III are some of the most important feedstocks used to manufacture motor oil, industrial oil, process oil, and metal processing fluids. Group II & III base oils cater to various industries, including heavy manufacturing, automotive, oil & gas, power, electrical, and even consumer products like cosmetics, and pharmaceuticals.
The market for Group II & III base oil is segmented as per Technology (Hydrocracking, Hydrotreating, Catalytic Dewaxing), Application (Automotive oil, Industrial oil, Process oil, and others), and Geography.
Group I base oils are inefficient and have inferior properties to Group II and Group III base oils. These base oils are increasingly being discontinued in automotive applications as they hamper engine lifespan and reduce performance. Group II base oils are more efficient with better oxidation control, enhanced viscosity control, better base number retention, and improved NOACK stability. Also, the price of these base oils is comparable to Group I, which makes them more affordable. Group III base oils are even purer than Group II. These are severely hydrocracked for obtaining better purity grades. These improved base oils are required to produce high-quality lubricants, which are in turn used in automotive, chemical, manufacturing, power, oil & gas, and so on.
Group II & III Base Oil Market Size in USD Billion, 2021-2027
The demand and production of group II & III base oil are primarily concentrated in developed regions of Europe and North America. However, in emerging economies such as China and India are witnessing an increased adoption of these oils due to their beneficial properties. The Asia Pacific region is expected to witness strong growth in demand for group II & III base oils and the market is expected to grow at a CAGR of 7.47% by 2027. The growing demand for environmentally sustainable and efficient lubricants from automotive, manufacturing, heavy machinery, and other industrial sectors is driving the Group II & III base oil market. In addition, the inability of Group I base oils to fulfill efficiency requirements in high-performance engines and provide a longer lifespan also drives group II & III base oil consumption.
The lubricants industry is gradually moving towards environmental sustainability and preserving natural resources. Group II base oils can be defined as containing more than 90% saturates and less than 0.03% sulfur having a viscosity index (VI) of 80 to 120. They are manufactured through the process of hydrocracking. Group III base oils possess similar chemical nature as Group II but have a viscosity index greater than 120. These base oils are severely hydrocracked, hydro-isomerized, and hydrotreated. The Group II & III base oil market is growing in Europe, North America, and Asia-Pacific. Growth opportunity in North America and Europe is high due to the increasing demand for premium base oil to restrict automotive emissions. In APAC, growing requirements for automotive and increasing industrial expansion are driving the need for high-quality base oils.
The industry is driven by factors such as:
Group II and Group III base oil has high antioxidant properties, low content of sulfur, enhanced viscosity control, and low volatility, which are acting as prime factors for the increasing demand for these base stocks. In addition, evolving automotive regulation driven by reduced emission and longer drain intervals contributes to the high growth of group II and Group III base stocks. With the growing trends towards better fuel economy, increase in engine oil durability, and reduction in pollution levels, demand for high-quality base oil, i.e., group II and Group III, is gaining momentum.
Expansion in Refining Capacity of Group II & III Base Oils
Group II and Group III base oil has high antioxidant properties, low content of sulfur, enhanced viscosity control, and low volatility, which are acting as prime factors for the increasing demand for these base stocks. In addition, with growing trends towards better fuel economy, increasing engine oil durability, vehicle emission standard, and reducing pollution levels, the demand for group II & Group III base oil is gaining momentum, which in turn is resulting in increased capacity for group II & III base stock. In the developed countries such as the US, Germany, and France, the industry has group II & III refined base oil capacity and more are being added to meet the increasing demand for the same. Whereas on the other side, the APAC region is witnessing steady growth in group II & III base stock capacity as the region is shifting rapidly toward increased use of highly re-refined base oil stock.
Increase in use of Premium Base oil in the Asia Pacific
Rapid industrialization and automation in industries are boosting the demand for group II & III base oil products. The major chunk of premium base oil is used in automotive industries and the automotive industry in the Asia Pacific is growing rapidly. Currently, the region is witnessing a switch from Group I base oil to group II & III base oil, and going forward it is expected to grow at a faster rate. China and India are the key markets for the premium base oil due to the urbanization over the past five years, government policies to attract foreign players to set up their manufacturing base, and most importantly, the increasing purchasing power of consumers resulting in increased demand for goods such as vehicles, consumer products, houses, etc.
The use of high-quality lubricants produced from group II & III base oils in cooling and proper power transmission, reducing friction, separating moving parts for effective functioning, providing anti-tack properties, providing heat transferability, and protection against wear and corrosion mandates its use in engines and equipment. Advancement in end-use industries such as automotive and manufacturing and economic growth is expected to boost lubricant demand globally.
Frequently Asked Questions
WHAT IS THE SIZE OF THE GLOBAL GROUP II & III BASE OIL MARKET?
The global Group II & III base oil market was valued at USD 20.2 billion in 2021 and is projected to reach USD 29.8 billion by 2027.
WHAT ARE THE KEY TRENDS IN THE GROUP II & III BASE OIL MARKET?
Increasing demand for IMO-compliant marine fuel and group II & III refining capacity are the key trends in the market.
WHO ARE THE KEY PLAYERS IN THE GROUP II & III BASE OIL MARKET?
Key players include Chevron Corporation, Exxon Mobil Corporation, Hyundai and Shell Base Oil Co., Petro-Canada Lubricant, and Saudi Arabian Oil Co.
WHICH REGIONS DOMINATE THE GROUP II & III BASE OIL MARKET?
North America to dominate the group II & III base oil market.
WHICH SEGMENT HOLDS THE LARGEST SHARE IN THE GROUP II & III BASE OIL MARKET?
Hydrocracking in the technology segment is expected to hold the largest share in the group II & III base oil market.
The global group II & III base oil market is expected to reach USD 29.8 billion by 2027, growing at a CAGR of 6.7%.
The report considers the present scenario of the group II & III base oil market and its market dynamics for 2022−2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the market.
Base Year: 2021
Forecast Year: 2022-2027
Key Vendors
Other Prominent Vendors
Segmentation by Technology
Segmentation by Application
Segmentation by Geography
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 INTRODUCTION
7.1 OVERVIEW
7.2 SUPPLY CHAIN ANALYSIS
7.2.1 CRUDE OIL REFINING/MANUFACTURING
7.2.2 SUPPLIERS/ DISTRIBUTORS
7.2.3 APPLICATIONS
7.3 REGULATIONS & STANDARDS
7.4 IMPACT OF COVID-19
7.4.1 SUPPLY SIDE
7.4.2 DEMAND SIDE
8 FREQUENTLY ASKED QUESTIONS
8.1 HOW WILL THE GROUP II & III BASE OIL MARKET PERFORM IN THE COMING YEARS?
8.2 WHAT ARE THE MAJOR FACTORS DRIVING THE DEMAND FOR GROUP II & III BASE OIL?
8.3 WHICH IS THE MOST PROFITABLE AND PREFERRED GROUP I & II BASE OIL TECHNOLOGY?
8.4 WHICH APPLICATION SEGMENT GENERATES THE HIGHEST REVENUE FOR THE GROUP II & III BASE OIL MARKET
8.5 WHICH IS THE FASTEST-GROWING REGION FOR GROUP I & II BASE OIL?
8.6 WHICH ARE THE MAJOR PLAYERS OPERATING IN THE GROUP II & III BASE OIL MARKET?
9 GROWTH OPPORTUNITY
9.1 TECHNOLOGY
9.2 APPLICATION
9.3 GEOGRAPHY
10 MARKET OPPORTUNITIES & TRENDS
10.1 INCREASING DEMAND FOR IMO-COMPLIANT MARINE FUEL
10.2 INCREASING GROUP II & III REFINING CAPACITY
11 MARKET GROWTH ENABLERS
11.1 INCREASING DEMAND FOR BIO-BASED LUBRICANTS
11.2 INCREASED USE OF PREMIUM BASE OIL IN APAC
11.3 INCREASING DISPOSABLE INCOME
12 MARKET RESTRAINTS
12.1 ELECTRIC VEHICLES HAMPERING GROWTH OF CONVENTIONAL LUBRICANTS
12.2 VOLATILITY IN CRUDE OIL PRICES
13 MARKET LANDSCAPE
13.1 MARKET OVERVIEW
13.2 MARKET SIZE & FORECAST
13.2.1 VOLUME AND VALUE
13.3 FIVE FORCES ANALYSIS
13.3.1 THREAT OF NEW ENTRANTS
13.3.2 BARGAINING POWER OF SUPPLIERS
13.3.3 BARGAINING POWER OF BUYERS
13.3.4 THREAT OF SUBSTITUTES
13.3.5 COMPETITIVE RIVALRY
14 TECHNOLOGY
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 CATALYTIC DEWAXING
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 HYDROCRACKING
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5 HYDROTREATING
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
14.6 OTHERS
14.6.1 MARKET OVERVIEW
14.6.2 MARKET SIZE & FORECAST
14.6.3 MARKET BY GEOGRAPHY
15 APPLICATION
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 AUTOMOTIVE OIL
15.3.1 MARKET OVERVIEW
15.3.2 KEY INSIGHTS
15.3.3 MARKET SIZE & FORECAST
15.3.4 MARKET BY GEOGRAPHY
15.4 INDUSTRIAL OIL
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
15.5 PROCESS OIL
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY GEOGRAPHY
15.6 OTHERS
15.6.1 MARKET OVERVIEW
15.6.2 MARKET SIZE & FORECAST
15.6.3 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
16.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
16.3 GEOGRAPHIC OVERVIEW
17 NORTH AMERICA
17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.2.1 BY VALUE
17.2.2 BY VOLUME
17.3 TECHNOLOGY
17.3.1 MARKET SIZE & FORECAST
17.4 APPLICATION
17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES
17.5.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
17.5.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
17.6 US
17.6.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
17.7 CANADA
17.7.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
18 APAC
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.2.1 BY VALUE
18.2.2 BY VOLUME
18.3 TECHNOLOGY
18.3.1 MARKET SIZE & FORECAST
18.4 APPLICATION
18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES
18.5.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
18.5.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
18.6 CHINA
18.6.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
18.7 INDIA
18.7.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
18.8 JAPAN
18.8.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
18.9 SOUTH KOREA
18.9.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
18.10 REST OF APAC
18.10.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
19 EUROPE
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.2.1 BY VALUE
19.2.2 BY VOLUME
19.3 TECHNOLOGY
19.3.1 MARKET SIZE & FORECAST
19.4 APPLICATION
19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES
19.5.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
19.5.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
19.6 GERMANY
19.6.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
19.7 RUSSIA
19.7.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
19.8 FRANCE
19.8.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
19.9 UK
19.9.1 MARKET SIZE & FORECAST
19.10 SPAIN
19.10.1 MARKET SIZE & FORECAST
19.11 REST OF EUROPE
19.11.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
20 LATIN AMERICA
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.2.1 BY VALUE
20.2.2 BY VOLUME
20.3 TECHNOLOGY
20.3.1 MARKET SIZE & FORECAST
20.4 APPLICATION
20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES
20.5.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
20.5.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
20.6 BRAZIL
20.6.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
20.7 MEXICO
20.7.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
20.8 REST OF LATIN AMERICA
20.8.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
21 MIDDLE EAST & AFRICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.2.1 BY VALUE
21.2.2 BY VOLUME
21.3 TECHNOLOGY
21.3.1 MARKET SIZE & FORECAST
21.4 APPLICATION
21.4.1 MARKET SIZE & FORECAST
21.5 KEY COUNTRIES
21.5.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
21.5.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
21.6 SAUDI ARABIA
21.6.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
21.7 UAE
21.7.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
21.8 IRAN
21.8.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
21.9 REST OF MIDDLE EAST & AFRICA
21.9.1 MARKET SIZE & FORECAST (VALUE & VOLUME)
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
22.2 KEY DEVELOPMENTS – GROUP II & III BASE OIL AND RELATED ECOSYSTEM
22.2.1 MERGERS & ACQUISITIONS
22.2.2 INNOVATIONS
22.2.3 OTHER DEVELOPMENTS
23 KEY COMPANY PROFILES
23.1 CHEVRON CORPORATION
23.1.1 BUSINESS OVERVIEW
23.1.2 CHEVRON CORPORATION IN GROUP II & III BASE OIL MARKET
23.1.3 PRODUCT OFFERINGS
23.1.4 KEY STRENGTHS
23.1.5 KEY STRATEGIES
23.1.6 KEY OPPORTUNITIES
23.2 EXXON MOBIL CORPORATION
23.2.1 BUSINESS OVERVIEW
23.2.2 EXXON MOBIL CORPORATION IN GROUP II & III BASE OIL MARKET
23.2.3 PRODUCT OFFERINGS
23.2.4 KEY STRATEGIES
23.2.5 KEY STRENGTHS
23.2.6 KEY OPPORTUNITIES
23.3 HYUNDAI AND SHELL BASE OIL CO., LTD.
23.3.1 BUSINESS OVERVIEW
23.3.2 HYUNDAI AND SHELL IN GROUP II & III BASE OIL MARKET
23.3.3 PRODUCT OFFERINGS
23.3.4 KEY STRATEGIES
23.3.5 KEY STRENGTHS
23.3.6 KEY OPPORTUNITIES
23.4 PETRO-CANADA LUBRICANTS
23.4.1 BUSINESS OVERVIEW
23.4.2 PETRO-CANADA LUBRICANTS IN GROUP II & III BASE OIL MARKET
23.4.3 PRODUCT OFFERINGS
23.4.4 KEY STRATEGIES
23.4.5 KEY STRENGTHS
23.4.6 KEY OPPORTUNITIES
23.5 SAUDI ARABIAN OIL CO.
23.5.1 BUSINESS OVERVIEW
23.5.2 SAUDI ARABIAN OIL IN GROUP II & III BASE OIL MARKET
23.5.3 PRODUCT OFFERINGS
23.5.4 KEY STRATEGIES
23.5.5 KEY STRENGTHS
23.5.6 KEY OPPORTUNITIES
24 OTHER PROMINENT VENDORS
24.1 ASIAN OIL COMPANY
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.2 ABU DHABI NATIONAL OIL COMPANY
24.2.1 BUSINESS OVERVIEW
24.2.2 PRODUCT OFFERINGS
24.3 CHANDRI WAX SPECIALTIES
24.3.1 BUSINESS OVERVIEW
24.3.2 PRODUCT OFFERINGS
24.4 DODGE
24.4.1 BUSINESS OVERVIEW
24.4.2 PRODUCT OFFERINGS
24.5 GS CALTEX
24.5.1 BUSINESS OVERVIEW
24.5.2 PRODUCT OFFERINGS
24.6 HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL)
24.6.1 BUSINESS OVERVIEW
24.6.2 PRODUCT OFFERINGS
24.7 HOLLYFRONTIER CORPORATION
24.7.1 BUSINESS OVERVIEW
24.7.2 PRODUCT OFFERINGS
24.8 MEHTA PETRO REFINERIES LTD
24.8.1 BUSINESS OVERVIEW
24.8.2 PRODUCT OFFERINGS
24.9 PURE PERFORMANCE
24.9.1 BUSINESS OVERVIEW
24.9.2 PRODUCT OFFERINGS
24.10 PETROYAG
24.10.1 BUSINESS OVERVIEW
24.10.2 PRODUCT OFFERINGS
24.11 RESOLUTE OIL
24.11.1 BUSINESS OVERVIEW
24.11.2 PRODUCT OFFERINGS
24.12 REPSOL
24.12.1 BUSINESS OVERVIEW
24.12.2 PRODUCT OFFERINGS
24.13 SBZ CORPORATION
24.13.1 BUSINESS OVERVIEW
24.13.2 PRODUCT OFFERINGS
24.14 SINOPEC
24.14.1 BUSINESS OVERVIEW
24.14.2 PRODUCT OFFERINGS
24.15 SHANDONG QINGYUAN GROUP CO., LTD
24.15.1 BUSINESS OVERVIEW
24.15.2 PRODUCT OFFERINGS
24.16 VERTEX ENERGY INC
24.16.1 BUSINESS OVERVIEW
24.16.2 PRODUCT OFFERINGS
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY TECHNOLOGY
26.1.1 HYDROCRACKING
26.1.2 HYDROTREATING
26.1.3 CATALYTIC DEWAXING
26.1.4 OTHERS
26.2 MARKET BY APPLICATION
26.2.1 AUTOMOTIVE OIL
26.2.2 INDUSTRIAL OIL
26.2.3 PROCESS OIL
26.2.4 OTHERS
27 GEOGRAPHY
27.1 NORTH AMERICA
27.1.1 TECHNOLOGY
27.1.2 APPLICATION
27.2 EUROPE
27.2.1 TECHNOLOGY
27.2.2 APPLICATION
27.3 APAC
27.3.1 TECHNOLOGY
27.3.2 APPLICATION
27.4 LATIN AMERICA
27.4.1 TECHNOLOGY
27.4.2 APPLICATION
27.5 MIDDLE EAST & AFRICA
27.5.1 TECHNOLOGY
27.5.2 APPLICATION
28 APPENDIX
28.1 ABBREVIATIONS
LIST OF EXHIBITS
EXHIBIT 1 SEGMENTATION OF GLOBAL GROUP II & III BASE OIL MARKET
EXHIBIT 2 MARKET SIZE CALCULATION APPROACH 2021
EXHIBIT 3 CONVENTIONAL & MODERN TECHNOLOGY FOR PRODUCING PREMIUM BASE OIL
EXHIBIT 4 GROUP II & III BASE OIL SUPPLY CHAIN ANALYSIS
EXHIBIT 5 CURRENT ENGINE OIL STANDARDS
EXHIBIT 6 KEY MARKETS OF LUBRICANTS SHOWED SLOW RESILIENCE
EXHIBIT 7 KEY MARKETS OF LUBRICANTS SHOWED HIGH RESILIENCE
EXHIBIT 8 GLOBAL GROUP II & III BASE OIL MARKET BY TECHNOLOGY ($ MILLION)
EXHIBIT 9 GLOBAL GROUP II & III BASE OIL MARKET BY APPLICATION ($ MILLION)
EXHIBIT 10 GLOBAL GROUP II & III BASE OIL MARKET BY GEOGRAPHY ($ MILLION)
EXHIBIT 11 IMPACT OF INCREASING DEMAND FOR IMO-COMPLIANT MARINE FUEL
EXHIBIT 12 BENEFITS FROM IMO 2020 REGULATION
EXHIBIT 13 IMPACT OF INCREASING GROUP II & III REFINING CAPACITY
EXHIBIT 14 CAPACITY EXPANSION OF GROUP II & III BASE OIL
EXHIBIT 15 IMPACT OF INCREASING DEMAND FOR BIO-BASED LUBRICANTS
EXHIBIT 16 THREE MAIN TYPES OF BIO-BASED LUBRICANTS
EXHIBIT 17 IMPACT OF INCREASED USE OF PREMIUM BASE OIL IN APAC
EXHIBIT 18 GROWTH DYNAMICS OF APAC REGION
EXHIBIT 19 IMPACT OF INCREASING DISPOSABLE INCOME
EXHIBIT 20 PROCESS FLOW OF HIGH DISPOSABLE INCOME LEADING TO BASE OIL DEMAND
EXHIBIT 21 GLOBAL PPP (PURCHASING POWER PARITY) IN TERMS OF GDP 2013−2020 (US DOLLAR)
EXHIBIT 22 IMPACT OF ELECTRIC VEHICLES HAMPERING GROWTH OF CONVENTIONAL LUBRICANTS
EXHIBIT 23 IMPACT OF VOLATILITY IN CRUDE OIL PRICES
EXHIBIT 24 BASE OIL PRICE ANALYSIS DURING Q4 (OCTOBER−DECEMBER) 2021
EXHIBIT 25 CRUDE OIL PRICE 2000−2020, DOLLAR PER BARREL
EXHIBIT 26 GLOBAL GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 27 GLOBAL GROUP II & III BASE OIL MARKET 2021–2027 (KILOTONS)
EXHIBIT 28 FIVE FORCES ANALYSIS 2021
EXHIBIT 29 INCREMENTAL GROWTH BY TECHNOLOGY 2021 & 2027
EXHIBIT 30 CLASSIFICATION OF GLOBAL GROUP II & III BASE OIL MARKET BY TECHNOLOGY
EXHIBIT 31 GLOBAL CATALYTIC DEWAXING GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 32 GLOBAL HYDROCRACKING GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 33 GLOBAL HYDROTREATING GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 34 GLOBAL OTHERS GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 35 INCREMENTAL GROWTH BY APPLICATION 2021 & 2027
EXHIBIT 36 CLASSIFICATION OF GLOBAL GROUP II & III BASE OIL MARKET BY APPLICATION
EXHIBIT 37 KEY DRIVERS SUPPORTING DEMAND IN AUTOMOTIVE OF GROUP II & III BASE OIL
EXHIBIT 38 FACTS & FIGURES SUPPORTING DEMAND FOR AUTOMOTIVE OIL
EXHIBIT 39 GLOBAL AUTOMOTIVE GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 40 GLOBAL INDUSTRIAL GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 41 KEY INSIGHTS SUPPORTING GROWTH OF PROCESS OIL MARKET
EXHIBIT 42 GLOBAL PROCESS GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 43 GLOBAL OTHERS GROUP II & III BASE OIL MARKET 2021–2027 ($ MILLION)
EXHIBIT 44 INCREMENTAL GROWTH BY GEOGRAPHY 2021 & 2027
EXHIBIT 45 INCREMENTAL GROWTH BY GEOGRAPHY 2021 & 2027
EXHIBIT 46 FACTORS CONTRIBUTING TO GROWTH OF GROUP II & III BASE OIL MARKET IN NORTH AMERICA
EXHIBIT 47 PASSENGER VEHICLE PRODUCTION IN NORTH AMERICA 2015–2020 (MILLION UNITS)
EXHIBIT 48 GROUP II & III BASE OIL MARKET IN NORTH AMERICA 2021–2027 ($ MILLION)
EXHIBIT 49 GROUP II & III BASE OIL MARKET IN NORTH AMERICA 2021–2027 (KILOTONS)
EXHIBIT 50 INCREMENTAL GROWTH IN NORTH AMERICA 2021 & 2027
EXHIBIT 51 INCREMENTAL GROWTH IN NORTH AMERICA 2021 & 2027
EXHIBIT 52 GROUP II & III BASE OIL MARKET IN US 2021–2027 ($ MILLION)
EXHIBIT 53 GROUP II & III BASE OIL MARKET IN US 2021–2027 (KILOTONS)
EXHIBIT 54 GROUP II & III BASE OIL MARKET IN CANADA 2021–2027 ($ MILLION)
EXHIBIT 55 GROUP II & III BASE OIL MARKET IN CANADA 2021–2027 (KILOTONS)
EXHIBIT 56 EAST ASIA & PACIFIC MANUFACTURING OUTPUT (% OF GDP) 2010–2020
EXHIBIT 57 GROUP II & III BASE OIL MARKET IN APAC 2021–2027 ($ MILLION)
EXHIBIT 58 GROUP II & III BASE OIL MARKET IN APAC 2021–2027 (KILOTONS)
EXHIBIT 59 INCREMENTAL GROWTH IN APAC 2021 & 2027
EXHIBIT 60 INCREMENTAL GROWTH IN APAC 2021 & 2027
EXHIBIT 61 GROUP II & III BASE OIL MARKET IN CHINA 2021–2027 ($ MILLION)
EXHIBIT 62 GROUP II & III BASE OIL MARKET IN CHINA 2021–2027 (KILOTONS)
EXHIBIT 63 GROUP II & III BASE OIL MARKET IN INDIA 2021–2027 ($ MILLION)
EXHIBIT 64 GROUP II & III BASE OIL MARKET IN INDIA 2021–2027 (KILOTONS)
EXHIBIT 65 GROUP II & III BASE OIL MARKET IN JAPAN 2021–2027 ($ MILLION)
EXHIBIT 66 GROUP II & III BASE OIL MARKET IN JAPAN 2021–2027 (KILOTONS)
EXHIBIT 67 GROUP II & III BASE OIL MARKET IN SOUTH KOREA 2021–2027 ($ MILLION)
EXHIBIT 68 GROUP II & III BASE OIL MARKET IN SOUTH KOREA 2021–2027 (KILOTONS)
EXHIBIT 69 GROUP II & III BASE OIL MARKET IN REST OF APAC 2021–2027 ($ MILLION)
EXHIBIT 70 GROUP II & III BASE OIL MARKET IN REST OF APAC 2021–2027 (KILOTONS)
EXHIBIT 71 GROUP II & III BASE OIL MARKET IN EUROPE 2021–2027 ($ MILLION)
EXHIBIT 72 GROUP II & III BASE OIL MARKET IN EUROPE 2021–2027 (KILOTONS)
EXHIBIT 73 INCREMENTAL GROWTH IN EUROPE 2021 & 2027
EXHIBIT 74 INCREMENTAL GROWTH IN EUROPE 2021 & 2027
EXHIBIT 75 GROUP II & III BASE OIL MARKET IN GERMANY 2021–2027 ($ MILLION)
EXHIBIT 76 GROUP II & III BASE OIL MARKET IN GERMANY 2021–2027 (KILOTONS)
EXHIBIT 77 FACTORS CONTRIBUTING TO GROWTH OF GROUP II & III BASE OIL IN RUSSIA
EXHIBIT 78 GROUP II & III BASE OIL MARKET IN RUSSIA 2021–2027 ($ MILLION)
EXHIBIT 79 GROUP II & III BASE OIL MARKET IN RUSSIA 2021–2027 (KILOTONS)
EXHIBIT 80 GROUP II & III BASE OIL MARKET IN FRANCE 2021–2027 ($ MILLION)
EXHIBIT 81 GROUP II & III BASE OIL MARKET IN FRANCE 2021–2027 (KILOTONS)
EXHIBIT 82 GROUP II & III BASE OIL MARKET IN UK 2021–2027 ($ MILLION)
EXHIBIT 83 GROUP II & III BASE OIL MARKET IN UK 2021–2027 (KILOTONS)
EXHIBIT 84 GROUP II & III BASE OIL MARKET IN SPAIN 2021–2027 ($ MILLION)
EXHIBIT 85 GROUP II & III BASE OIL MARKET IN SPAIN 2021–2027 (KILOTONS)
EXHIBIT 86 GROUP II & III BASE OIL MARKET IN REST OF EUROPE 2021–2027 ($ MILLION)
EXHIBIT 87 GROUP II & III BASE OIL MARKET IN REST OF EUROPE 2021–2027 (KILOTONS)
EXHIBIT 88 GROUP II & III BASE OIL MARKET IN LATIN AMERICA 2021–2027 ($ MILLION)
EXHIBIT 89 GROUP II & III BASE OIL MARKET IN LATIN AMERICA 2021–2027 (KILOTONS)
EXHIBIT 90 INCREMENTAL GROWTH IN LATIN AMERICA 2021 & 2027
EXHIBIT 91 INCREMENTAL GROWTH IN LATIN AMERICA 2021 & 2027
EXHIBIT 92 GROUP II & III BASE OIL MARKET IN BRAZIL 2021–2027 ($ MILLION)
EXHIBIT 93 GROUP II & III BASE OIL MARKET IN BRAZIL 2021–2027 (KILOTONS)
EXHIBIT 94 GROUP II & III BASE OIL MARKET IN MEXICO 2021–2027 ($ MILLION)
EXHIBIT 95 GROUP II & III BASE OIL MARKET IN MEXICO 2021–2027 (KILOTONS)
EXHIBIT 96 GROUP II & III BASE OIL MARKET IN REST OF LATIN AMERICA 2021–2027 ($ MILLION)
EXHIBIT 97 GROUP II & III BASE OIL MARKET IN REST OF LATIN AMERICA 2021–2027 (KILOTONS)
EXHIBIT 98 GROUP II & III BASE OIL MARKET IN MIDDLE EAST & AFRICA 2021–2027 ($ MILLION)
EXHIBIT 99 GROUP II & III BASE OIL MARKET IN MIDDLE EAST & AFRICA 2021–2027 (KILOTONS)
EXHIBIT 100 INCREMENTAL GROWTH IN MIDDLE EAST & AFRICA 2021 & 2027
EXHIBIT 101 INCREMENTAL GROWTH IN MIDDLE EAST & AFRICA 2021 & 2027
EXHIBIT 102 GROUP II & III BASE OIL MARKET IN SAUDI ARABIA 2021–2027 ($ MILLION)
EXHIBIT 103 GROUP II & III BASE OIL MARKET IN SAUDI ARABIA 2021–2027 (KILOTONS)
EXHIBIT 104 GROUP II & III BASE OIL MARKET IN UAE 2021–2027 ($ MILLION)
EXHIBIT 105 GROUP II & III BASE OIL MARKET IN UAE 2021–2027 (KILOTONS)
EXHIBIT 106 GROUP II & III BASE OIL MARKET IN IRAN 2021–2027 ($ MILLION)
EXHIBIT 107 GROUP II & III BASE OIL MARKET IN IRAN 2021–2027 (KILOTONS)
EXHIBIT 108 SOUTH AFRICA AUTOMOTIVE SALES 2016–2021
EXHIBIT 109 CONTRIBUTION OF AUTOMOTIVE INDUSTRY TO COUNTRY’S GDP 2019–2020
EXHIBIT 110 GROUP II & III BASE OIL MARKET IN REST OF MIDDLE EAST & AFRICA 2021–2027 ($ MILLION)
EXHIBIT 111 GROUP II & III BASE OIL MARKET IN REST OF MIDDLE EAST & AFRICA 2021–2027 (KILOTONS)
EXHIBIT 112 COMPANY MATRIX
LIST OF TABLES
TABLE 1 KEY CAVEATS
TABLE 2 CURRENCY CONVERSION 2015−2021
TABLE 3 CLASSIFICATION OF BASE OIL ACCORDING TO API
TABLE 4 COMPARISON OF BASE OIL CATEGORIES
TABLE 5 GLOBAL GROUP II & III BASE OIL MARKET BY TECHNOLOGY ($ MILLION)
TABLE 6 GLOBAL GROUP II & III BASE OIL MARKET BY APPLICATION ($ MILLION)
TABLE 7 GLOBAL GROUP II & III BASE OIL MARKET BY GEOGRAPHY ($ MILLION)
TABLE 8 GLOBAL CATALYTIC DEWAXING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 9 GLOBAL HYDROCRACKING, GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 10 GLOBAL HYDROTREATING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 11 GLOBAL OTHERS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 12 GLOBAL AUTOMOTIVE GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 13 GLOBAL INDUSTRIAL GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 14 GLOBAL PROCESS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 15 GLOBAL OTHERS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 16 GROUP II & III BASE OIL MARKET IN NORTH AMERICA BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 17 GROUP II & III BASE OIL MARKET IN NORTH AMERICA BY APPLICATION 2021−2027 ($ MILLION)
TABLE 18 GROUP II & III BASE OIL MARKET IN APAC BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 19 GROUP II & III BASE OIL MARKET IN APAC BY APPLICATION 2021−2027 ($ MILLION)
TABLE 20 GROUP II & III BASE OIL MARKET IN EUROPE BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 21 GROUP II & III BASE OIL MARKET IN EUROPE BY APPLICATION 2021−2027 ($ MILLION)
TABLE 22 GROUP II & III BASE OIL MARKET IN LATIN AMERICA BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 23 GROUP II & III BASE OIL MARKET IN LATIN AMERICA BY APPLICATION 2021−2027 ()($ MILLION)
TABLE 24 GROUP II & III BASE OIL MARKET IN MIDDLE EAST & AFRICA BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 25 GROUP II & III BASE OIL MARKET IN MIDDLE EAST & AFRICA BY APPLICATION 2021−2027 ($ MILLION)
TABLE 26 CHEVRON CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 27 EXXON MOBIL CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 28 HYUNDAI SHELL BASE OIL: MAJOR PRODUCT OFFERINGS
TABLE 29 PETRO-CANADA LUBRICANTS: MAJOR PRODUCT OFFERINGS
TABLE 30 SAUDI ARABIAN OIL CO.: MAJOR PRODUCT OFFERINGS
TABLE 31 ASIAN OIL COMPANY: MAJOR PRODUCT OFFERINGS
TABLE 32 ABU DHABI NATIONAL OIL COMPANY: MAJOR PRODUCT OFFERINGS
TABLE 33 CHANDRI WAX SPECIALTIES PRIVATE LIMITED: MAJOR PRODUCT OFFERINGS
TABLE 34 DODGE: MAJOR PRODUCT OFFERINGS
TABLE 35 GS CALTEX: MAJOR PRODUCT OFFERINGS
TABLE 36 HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL): MAJOR PRODUCT OFFERINGS
TABLE 37 HOLLYFRONTIER CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 38 MEHTA PETRO REFINERIES LTD: MAJOR PRODUCT OFFERINGS
TABLE 39 PURE PERFORMANCE: MAJOR PRODUCT OFFERINGS
TABLE 40 PETROYAG: MAJOR PRODUCT OFFERINGS
TABLE 41 RESOLUTE OIL: MAJOR PRODUCT OFFERINGS
TABLE 42 REPSOL: MAJOR PRODUCT OFFERINGS
TABLE 43 SBZ CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 44 SINOPEC: MAJOR PRODUCT OFFERINGS
TABLE 45 SHANDONG QINGYUAN GROUP CO., LTD: MAJOR PRODUCT OFFERINGS
TABLE 46 VERTEX ENERGY INC: MAJOR PRODUCT OFFERINGS
TABLE 47 GLOBAL HYDROCRACKING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 48 GLOBAL HYDROCRACKING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 49 GLOBAL HYDROTREATING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 50 GLOBAL HYDROTREATING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 51 GLOBAL CATALYTIC DEWAXING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 52 GLOBAL CATALYTIC DEWAXING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 53 GLOBAL OTHERS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 54 GLOBAL ISODEWAXING GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 55 GLOBAL AUTOMOTIVE GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 56 GLOBAL AUTOMOTIVE GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 57 GLOBAL INDUSTRIAL OIL GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 58 GLOBAL INDUSTRIAL OIL GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 59 GLOBAL PROCESS OIL GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 60 GLOBAL PROCESS OIL GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 61 GLOBAL OTHERS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 ($ MILLION)
TABLE 62 GLOBAL OTHERS GROUP II & III BASE OIL MARKET BY GEOGRAPHY 2021−2027 (%)
TABLE 63 NORTH AMERICA GROUP II & III BASE OIL MARKET BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 64 NORTH AMERICA GROUP II & III BASE OIL MARKET BY APPLICATION 2021−2027 ($ MILLION)
TABLE 65 EUROPE GROUP II & III BASE OIL MARKET BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 66 EUROPE GROUP II & III BASE OIL MARKET BY APPLICATION 2021−2027 ($ MILLION)
TABLE 67 APAC GROUP II & III BASE OIL MARKET BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 68 APAC GROUP II & III BASE OIL MARKET BY APPLICATION 2021−2027 ($ MILLION)
TABLE 69 LATIN AMERICA GROUP II & III BASE OIL MARKET BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 70 LATIN AMERICA GROUP II & III BASE OIL MARKET BY APPLICATION 2021−2027 ($ MILLION)
TABLE 71 MIDDLE EAST & AFRICA GROUP II & III BASE OIL MARKET BY TECHNOLOGY 2021−2027 ($ MILLION)
TABLE 72 MIDDLE EAST & AFRICA GROUP II & III BASE OIL MARKET BY APPLICATION 2021−2027 ($ MILLION)
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