EUROPE BASE OIL MARKET 2022-2028

Chemicals & Materials | Petrochemicals

EUROPE BASE OIL MARKET 2022-2028

Market by Group, Application, and Country Outlook | Forecast 2022-2028

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Triton Market Research evaluates the base oil market in Europe to progress with a CAGR of 3.32% in the forecast years 2022-2028. In terms of volume, it is expected to advance with a CAGR of 3.84%.


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The countries studied in this market include:

•         The United Kingdom

•         Spain

•         Italy

•         Germany

•         France

•         Rest of Europe

The market in Europe has significantly grown due to rising production and sales of various automotive types, such as cars and commercial vehicles. As a result, this boosts the demand and deployment of different base oil products, such as greases, engine oil, etc., to ensure the high performance and efficiency of the vehicles. Besides, the growth across industries and manufacturing sectors in the region demands high-performance base oils, and thereby supplements the market’s growth.

The automotive sector in France is substantially rising. In this regard, the OICA states that the country produced 1.35 million units of cars and commercial vehicles in 2021, a 3% rise as of 2020. Such growth in the automotive sector is expected to constantly increase the demand for base oil. Moreover, the support by market players through strategic developments has also aided the overall market. For instance, TotalEnergies and Stellantis Group renewed their partnership to cooperate across different segments in 2021, including the development of lubricants. Hence, all these improvements are likely to bolster the market growth rate.

The increasing volume of crude oil imports and growth in automotive production are driving the base oil market in Italy. The country is largely engaged in the importation of crude oil and petroleum. For instance, studies reveal that Azerbaijan exported around 3 million tons of crude oil to Italy in 2020, which made it the prime crude oil supplier to the country. Additionally, the OICA states that the total number of cars and commercial vehicles produced in the country was around 790,000 units in 2021. Such an increase in automotive vehicles is expected to raise the demand for base oil.

Automotive oil is usually used in manufacturing lubricants deployed in the automobile sector. Such oil reduces friction and heat generation in the transmission, engine, and steering components. The increasing automobile production & sales and the adoption of stringent government regulations are enhancing the market’s growth. Besides, market players are focusing on developing high-grade products in automotive lubricants, thereby accelerating the demand for base oil.

The studied market accesses the market’s growth based on application and group. Here, the application segment comprises automotive oil, greases, metalworking fluids, hydraulic oil, and other applications.

Some leading companies in the base oil market are PT Pertamina (Persero), Avista Oil AG, S-Oil Corporation, Grupa Lotos, Shell Plc, Sepahan Oil, Repsol SA, and GS Caltex Corporation.

Phillips 66 Company is a multinational energy company involved in refining and marketing petroleum products such as gasoline, diesel, jet fuel and lubricants. The company operates in four segments, chemicals, midstream, marketing and specialties, and refining. It has a strong portfolio of brands, which gives it a competitive advantage. The company has a business presence in the Asia-Pacific region, with Singapore being one of its largest overseas locations.

 

Key deliverables of the report: 

       Market CAGR during the forecasting years 2022-2028

       Detailed data highlighting key insights, industry components, and market strategies

      Comprehensive information and estimation of the base oil market revenue growth in Europe and its influence on the parent market 

       In-depth study of forthcoming trends in consumer behavioral patterns 

       A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces Model

       A wide-ranging study of factors that will challenge the Europe base oil market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. EUROPE BASE OIL MARKET - SUMMARY 

2. INDUSTRY OUTLOOK 

2.1. IMPACT OF COVID-19 ON THE BASE OIL MARKET         

2.2. KEY INSIGHTS    

2.2.1. RAPID INDUSTRIALIZATION ACROSS THE GLOBE 

2.2.2. INCREASING DEMAND FOR HYDRAULIC OIL

2.3. PORTER’S FIVE FORCES ANALYSIS 

2.3.1. THREAT OF NEW ENTRANTS    

2.3.2. THREAT OF SUBSTITUTES       

2.3.3. BARGAINING POWER OF BUYERS     

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY  

2.4. MARKET ATTRACTIVENESS INDEX  

2.5. VENDOR SCORECARD  

2.6. KEY MARKET STRATEGIES    

2.6.1. PRODUCT LAUNCHES & DEVELOPMENTS   

2.6.2. PARTNERSHIPS & AGREEMENTS       

2.7. MARKET DRIVERS        

2.7.1. RISING DEMAND FOR HIGH-GRADE OILS FROM THE AUTOMOTIVE SECTOR     

2.7.2. WIDE RANGE OF APPLICATIONS ACROSS DIFFERENT END-USERS 

2.7.3. STRINGENT ENVIRONMENTAL REGULATIONS LEADING TO STRICT PERFORMANCE STANDARDS  

2.8. MARKET CHALLENGES 

2.8.1. VOLATILITY IN THE PRICE OF CRUDE OIL   

2.8.2. DECREASE IN THE DEMAND FOR GROUP I BASE OIL     

2.9. MARKET OPPORTUNITIES      

2.9.1. INCREASING POPULARITY OF RENEWABLE BASE OIL      

3. EUROPE BASE OIL MARKET OUTLOOK - BY GROUP (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)

3.1. GROUP I   

3.2. GROUP II  

3.3. GROUP III 

3.4. GROUP IV 

3.5. GROUP V  

4. EUROPE BASE OIL MARKET OUTLOOK - BY APPLICATION (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)

4.1. AUTOMOTIVE OIL

4.2. INDUSTRIAL OIL 

4.3. GREASES  

4.4. HYDRAULIC OIL  

4.5. METALWORKING FLUIDS        

4.6. OTHER APPLICATIONS 

5. EUROPE BASE OIL MARKET – REGIONAL OUTLOOK (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)       

5.1. UNITED KINGDOM         

5.2. GERMANY 

5.3. FRANCE     

5.4. SPAIN        

5.5. ITALY         

5.6. REST OF EUROPE         

6. COMPETITIVE LANDSCAPE  

6.1. EXXON MOBIL CORPORATION         

6.2. CHEVRON CORPORATION               

6.3. SAUDI ARAMCO  

6.4. SHELL PLC

6.5. NESTE OYJ         

6.6. GS CALTEX CORPORATION   

6.7. AVISTA OIL AG    

6.8. PT PERTAMINA (PERSERO)    

6.9. PHILLIPS 66 COMPANY 

6.10. SEPAHAN OIL   

6.11. ERGON INC       

6.12. GRUPA LOTOS  

6.13. NYNAS AB         

6.14. S-OIL CORPORATION 

6.15. REPSOL SA       

7. RESEARCH METHODOLOGY & SCOPE    

7.1. RESEARCH SCOPE & DELIVERABLES        

7.2. SOURCES OF DATA                

7.3. RESEARCH METHODOLOGY   

List of Tables

TABLE 1: EUROPE BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: EUROPE BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)

TABLE 3: VENDOR SCORECARD

TABLE 4: EUROPE BASE OIL MARKET, BY GROUP, 2022-2028 (IN $ MILLION)

TABLE 5: EUROPE BASE OIL MARKET, BY GROUP, 2022-2028 (IN KILOTON)

TABLE 6: EUROPE BASE OIL MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)

TABLE 7: EUROPE BASE OIL MARKET, BY APPLICATION, 2022-2028 (IN KILOTON)

TABLE 8: EUROPE BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 9: EUROPE BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: EUROPE BASE OIL MARKET, BY GROUP, 2021 & 2028 (IN %)

FIGURE 3: EUROPE BASE OIL MARKET, BY GROUP I, 2022-2028 (IN $ MILLION)

FIGURE 4: EUROPE BASE OIL MARKET, BY GROUP II, 2022-2028 (IN $ MILLION)

FIGURE 5: EUROPE BASE OIL MARKET, BY GROUP III, 2022-2028 (IN $ MILLION)

FIGURE 6: EUROPE BASE OIL MARKET, BY GROUP IV, 2022-2028 (IN $ MILLION)

FIGURE 7: EUROPE BASE OIL MARKET, BY GROUP V, 2022-2028 (IN $ MILLION)

FIGURE 8: EUROPE BASE OIL MARKET, BY APPLICATION, 2021 & 2028 (IN %)

FIGURE 9: EUROPE BASE OIL MARKET, BY AUTOMOTIVE OIL, 2022-2028 (IN $ MILLION)

FIGURE 10: EUROPE BASE OIL MARKET, BY INDUSTRIAL OIL, 2022-2028 (IN $ MILLION)

FIGURE 11: EUROPE BASE OIL MARKET, BY GREASES, 2022-2028 (IN $ MILLION)

FIGURE 12: EUROPE BASE OIL MARKET, BY HYDRAULIC OIL, 2022-2028 (IN $ MILLION)

FIGURE 13: EUROPE BASE OIL MARKET, BY METALWORKING FLUIDS, 2022-2028 (IN $ MILLION)

FIGURE 14: EUROPE BASE OIL MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)

FIGURE 15: EUROPE BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 16: UNITED KINGDOM BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 17: GERMANY BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 18: FRANCE BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 19: SPAIN BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 20: ITALY BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: REST OF EUROPE BASE OIL MARKET 2022-2028 (IN $ MILLION)

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