Europe Base Oil Market Size & Outlook, 2021-2030

The base oil market in Europe is expected to reach a projected revenue of US$ 6,057.3 million by 2030. A compound annual growth rate of 3.2% is expected of Europe base oil market from 2022 to 2030.
Revenue, 2021 (US$M)
$4,580.3
Forecast, 2030 (US$M)
$6,057.3
CAGR, 2022 - 2030
3.2%
Report Coverage
Europe

Europe base oil market highlights

  • The Europe base oil market generated a revenue of USD 4,580.3 million in 2021.
  • The market is expected to grow at a CAGR of 3.2% from 2022 to 2030.
  • In terms of segment, group i was the largest revenue generating product in 2021.
  • Group III is the most lucrative product segment registering the fastest growth during the forecast period.
  • Country-wise, Germany is expected to register the highest CAGR from 2022 to 2030.


Europe data book summary

Market revenue in 2021USD 4,580.3 million
Market revenue in 2030USD 6,057.3 million
Growth rate3.2% (CAGR from 2021 to 2030)
Largest segmentGroup i
Fastest growing segmentGroup III
Historical data covered2018 - 2020
Base year for estimation2021
Forecast period covered2022 - 2030
Quantitative unitsRevenue in USD million
Market segmentationGroup I, Group II, Group III, Group IV, Group V
Key market players worldwideChina Petroleum & Chemical Corp Class H, Petronas Chemicals Group Bhd, PetroChina Co Ltd Class H, Exxon Mobil Corp, Chevron Corp, Shell PLC, BP PLC, The Goldman Sachs Group Inc, Nestle SA, Repsol SA


Other key industry trends

  • In terms of revenue, Europe region accounted for 22.5% of the global base oil market in 2021.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 15,689.6 million by 2030.

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Base Oil Market Companies

Name Profile # Employees HQ Website

Europe 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 43.46% in 2021. Horizon Databook has segmented the Europe 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.


Europe is one of the prominent consumers of oil and refined oil products. According to the Energy Statistics report by the Indian Ministry of Statistics, Europe consumed around 909.2 million tons of crude oil and crude oil products in 2018, which accounted for 20% of the total crude oil and crude oil products consumption.

High consumption of lubricants is considered a key driver for the growth of the base oil market in Europe, as lubricants are mainly composed of base oil. The high consumption of base oil is closely associated with the growth of the transportation and industrial sectors, as per Eurostat.

In addition, the total number of passenger vehicles in use grew by 3.8%, and that of commercial vehicles grew by 3.7% from 2005 to 2015. All these factors are expected to contribute to the growth of the base oil market in Europe. Germany is one of the prominent base oil consumers in the European region.

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Target buyers of Europe base oil market databook

  • Our clientele includes a mix of base oil market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe base oil market , including forecasts for subscribers. This continent databook contains high-level insights into Europe base oil market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Europe base oil market size, by country, 2018-2030 (US$M)

Europe Base Oil Market Outlook Share, 2021 & 2030 (US$M)

Europe base oil market size, by country, 2018-2030 (US$M)

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