Latin America Base Oil Market Size & Outlook, 2021-2030
Latin America base oil market, 2018-2030 (US$M)
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Latin America base oil market highlights
- The Latin America base oil market generated a revenue of USD 648.4 million in 2021.
- The market is expected to grow at a CAGR of 3.1% 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, Argentina is expected to register the highest CAGR from 2022 to 2030.
Latin America data book summary
| Market revenue in 2021 | USD 648.4 million |
| Market revenue in 2030 | USD 850.0 million |
| Growth rate | 3.1% (CAGR from 2021 to 2030) |
| Largest segment | Group i |
| Fastest growing segment | Group III |
| 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 |
| Key market players worldwide | China 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, Latin America region accounted for 3.2% 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 Scope
Base Oil Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 46.07% in 2021. Horizon Databook has segmented the Latin America 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.
Central & South America is a promising market for base oil due to the rising oil & gas industry coupled with the economic growth and presence of developing economies in the region. High crude oil exploration and production in South American countries are expected to contribute to the rise in the manufacturing and consumption of lubricants, thus supporting the overall growth of the base oil market in the region.
In addition, the growing automotive industry is expected to contribute to the growth in sales of lubricants and base oils in the region. Brazil largely imports base oil and finished lubricants from other countries, such as the U.S. The imports of finished lubricant products recorded an increase of 1.6% as per the Observatory of Economic Complexity (OEC) and the Ministry of Industry, Foreign Trade and Services, Brazil.
According to the U.S. Energy Information Administration (EIA), the imports accounted for 9 thousand barrels per day annually in 2018, from the U.S. Brazil mostly imports Group I and Group II base oils from the U.S. Apart from imports, oil companies in Brazil, such as Petrobras and Repsol, are increasing the production of rerefined oil products. This is expected to support the overall growth of the base oil market in Brazil.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America base oil market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America base oil market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America base oil market size, by country, 2018-2030 (US$M)
Latin America Base Oil Market Outlook Share, 2021 & 2030 (US$M)
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