Global Base Oil Market Size & Outlook, 2021-2030
Global base oil market, 2018-2030 (US$M)
Related Markets
Global base oil market highlights
- The global base oil market generated a revenue of USD 20,385.1 million in 2021 and is expected to reach USD 29,885.1 million by 2030.
- The market is expected to grow at a CAGR (2022 - 2030) of 4.3% by 2030.
- In terms of segment, group i accounted for a revenue of USD 8,724.3 million in 2021.
- Group V is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2021.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2022 to 2030.
Global data book summary
| Market revenue in 2021 | USD 20,385.1 million |
| Market revenue in 2030 | USD 29,885.1 million |
| Growth rate | 4.3% (CAGR from 2021 to 2030) |
| Largest segment | Group i |
| Fastest growing segment | Group V |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Group I, Group II, Group III, Group IV, Group V |
Other key industry trends
- In terms of revenue, the North America accounted for 22.0% of the global base oil market in 2021.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 204.9 million by 2030.
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Base Oil Market Scope
Base Oil Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global base oil market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to base oil market will help companies and investors design strategic landscapes.
Group i was the largest segment with a revenue share of 42.8% in 2021. Horizon Databook has segmented the Global base oil market based on group i, group ii, group iii, group iv, group v covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Base Oil Product Outlook (Revenue, USD Million, 2018-2030)
- Group I
- Group II
- Group III
- Group IV
- Group V
- Global Base Oil Application Outlook (Revenue, USD Million, 2018-2030)
- Automotive Oils
- Process Oils
- Hydraulic Oils
- Metalworking Fluids
- Industrial Oils
- Others
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Target buyers of Global base oil market databook
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Our clientele includes a mix of base oil market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global base oil market , including forecasts for subscribers. This global databook contains high-level insights into Global base oil market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global base oil market size, by regions, 2018-2030 (US$M)
Top 10 countries: Base oil market size, 2021 (US$M)
Global base oil market share, by product, 2021 & 2030 (%, US$M)
Base oil market: Opportunity assessment by country
Global base oil market, by region, 2021 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 4,488.8 | 5,543.1 | 4,922.5 | 4,486.1 | 3,997.5 | 4,150.9 | 4,328.6 | 4,532.6 | 4,766.4 | 5,033.0 | 5,337.1 | 5,683.0 | 5,856.3 | 3.0% |
| Europe | 4,480.2 | 5,827.8 | 5,422.7 | 4,580.3 | 4,071.9 | 4,228.4 | 4,406.2 | 4,606.9 | 4,833.2 | 5,088.0 | 5,374.4 | 5,696.0 | 6,057.3 | 3.2% |
| Asia Pacific | 14,024.4 | 12,779.5 | 10,817.6 | 9,495.3 | 9,698.1 | 10,108.2 | 10,592.6 | 11,159.8 | 11,820.3 | 12,586.9 | 13,474.7 | 14,501.6 | 15,689.6 | 5.7% |
| Latin America | 755.1 | 718.4 | 639.7 | 648.4 | 653.8 | 616.4 | 642.0 | 671.6 | 702.0 | 734.9 | 770.4 | 808.7 | 850.0 | 3.1% |
| MEA | 1,333.5 | 1,619.5 | 1,357.4 | 1,175.0 | 1,039.9 | 1,069.6 | 1,104.1 | 1,143.4 | 1,188.1 | 1,238.7 | 1,295.7 | 1,359.9 | 1,431.9 | 2.2% |
| Overall | 25,082.0 | 26,488.3 | 23,159.9 | 20,385.1 | 19,461.2 | 20,173.5 | 21,073.5 | 22,114.3 | 23,310.0 | 24,681.5 | 26,252.3 | 28,049.2 | 29,885.1 | 4.3% |
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