LATIN AMERICA BASE OIL MARKET 2022-2028

Chemicals & Materials | Petrochemicals

LATIN AMERICA BASE OIL MARKET 2022-2028

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

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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.


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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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Table of Content

1. 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   

List of Tables

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)

List of Figures

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)

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