Market by Group, Application, and Country Outlook | Forecast 2022-2028
As per
Triton’s research report, Latin America’s base oil market is estimated to grow
with a volume CAGR of 4.28% and revenue CAGR of 3.77% during the
forecast period 2022-2028.
Report scope can be customized per your requirements. Request For Customization
The
countries analyzed in this region
include:
• Brazil
• Mexico
• Rest of Latin America
The market in this
region is expected to flourish at a high rate in the forthcoming years due to the
presence of major industry giants, significant investments, product
developments, and growth of lubricants, base oils, and the automotive industry.
There is also growth in oil and gas exploration, which is expected to bolster
the bio-oil market and propel the market growth.
Argentina's base oil
industry has seen major changes, which are anticipated to positively affect
market growth throughout the forecasted period. For instance, Chevron Products
Co announced a deal with YPF SA, adding its second API Group II base oil hub. Due
to YPF's range of logistical and technical support services and depth of market
expertise, Chevron chose it as the distributor for Group II base oil. During
the projected period, these trends are anticipated to significantly support the
expansion of Argentina's base oil market.
One of the key elements
anticipated to significantly impact Chile's base oil market growth over the
forecast period is the expansion of the automotive industry. It is predicted that
Chile's automotive manufacturing sector's gross production value climbed from
$68.74 million in 2017 to approximately $72.18 million in 2019. This is
anticipated to rise even more and will likely raise demand for base oil
products like engine oils and car lubricants. As a result, these developments fuel
the base oil market in Chile throughout the forecast period.
Argentina and Chile are
covered in the Rest of Latin America.
Base oils with more
than 90% saturate, less than 0.03% sulfur, and a viscosity index ranging from
80 to 120 are categorized as Group II base oils. The hydrocracking method is
often employed to produce Group II base oils. Due to the saturation of all the
hydrocarbon molecules in Group II base oils, they have better antioxidation
capabilities.
The
studied report assesses the market’s growth based on group and application.
Here, application sources comprise Group I, Group II, Group III, Group IV, and Group
V.
Shell
Plc, Ergon Inc, Sepahan Oil, Avista Oil AG, Repsol SA, Saudi Aramco, Grupa
Lotos, and Nynas AB are some of the major
companies in the base oil market.
The British multinational oil and gas corporation Shell plc,
formerly known as Royal Dutch Shell plc, was established in 1907 and is based
in London, England. The company’s operations are divided into the following segments:
upstream, downstream, integrated gas and renewable energy, and energy
solutions. Base Oil Shell Tellus S2 VX 100, the company’s hydraulic oil product,
is based on Group II base oils, and offers outstanding performance and
protection across a wide range of industries. Shell plc has a business presence
in Latin America, among other regions.
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 Latin
America 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 Latin America 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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VIEW REPORT1. LATIN
AMERICA 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. LATIN AMERICA
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. LATIN AMERICA 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. LATIN AMERICA BASE OIL MARKET
– COUNTRY OUTLOOK (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)
5.1. BRAZIL
5.2. MEXICO
5.3. REST
OF LATIN AMERICA
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
TABLE 1: LATIN AMERICA BASE
OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: LATIN AMERICA BASE
OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)
TABLE 3: VENDOR SCORECARD
TABLE 4: LATIN AMERICA BASE
OIL MARKET, BY GROUP, 2022-2028 (IN $ MILLION)
TABLE 5: LATIN AMERICA BASE
OIL MARKET, BY GROUP, 2022-2028 (IN KILOTON)
TABLE 6: LATIN AMERICA BASE
OIL MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 7: LATIN AMERICA BASE
OIL MARKET, BY APPLICATION, 2022-2028 (IN KILOTON)
TABLE 8: LATIN AMERICA BASE
OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 9: LATIN AMERICA BASE
OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: LATIN AMERICA BASE
OIL MARKET, BY GROUP, 2021 & 2028 (IN %)
FIGURE 3: LATIN AMERICA BASE
OIL MARKET, BY GROUP I, 2022-2028 (IN $ MILLION)
FIGURE 4: LATIN AMERICA BASE
OIL MARKET, BY GROUP II, 2022-2028 (IN $ MILLION)
FIGURE 5: LATIN AMERICA BASE
OIL MARKET, BY GROUP III, 2022-2028 (IN $ MILLION)
FIGURE 6: LATIN AMERICA BASE
OIL MARKET, BY GROUP IV, 2022-2028 (IN $ MILLION)
FIGURE 7: LATIN AMERICA BASE
OIL MARKET, BY GROUP V, 2022-2028 (IN $ MILLION)
FIGURE 8: LATIN AMERICA BASE
OIL MARKET, BY APPLICATION, 2021 & 2028 (IN %)
FIGURE 9: LATIN AMERICA BASE
OIL MARKET, BY AUTOMOTIVE OIL, 2022-2028 (IN $ MILLION)
FIGURE 10: LATIN AMERICA BASE
OIL MARKET, BY INDUSTRIAL OIL, 2022-2028 (IN $ MILLION)
FIGURE 11: LATIN AMERICA BASE
OIL MARKET, BY GREASES, 2022-2028 (IN $ MILLION)
FIGURE 12: LATIN AMERICA BASE
OIL MARKET, BY HYDRAULIC OIL, 2022-2028 (IN $ MILLION)
FIGURE 13: LATIN AMERICA BASE
OIL MARKET, BY METALWORKING FLUIDS, 2022-2028 (IN $ MILLION)
FIGURE 14: LATIN AMERICA BASE
OIL MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)
FIGURE 15: LATIN AMERICA BASE
OIL MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 16: BRAZIL BASE OIL
MARKET 2022-2028 (IN $ MILLION)
FIGURE 17: MEXICO BASE OIL
MARKET 2022-2028 (IN $ MILLION)
FIGURE 18: REST OF LATIN
AMERICA BASE OIL MARKET 2022-2028 (IN $ MILLION)