Global Base Oil Market Opportunities and Forecast 2023-2030

  • DLR2463
  • September, 2023
  • Pages: 120
  • Global
Base Oil Market Overview

The size of the Global Base Oil Market, estimated at USD 19.46 billion in 2022, is expected to increase at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.

The global Base Oil market is projected to witness considerable growth in the forecast period. Rapid industrialization has improved the demand for lubricants among several end users. Development of sectors such as industrial machinery, automotive, and energy in developing countries, such as China, India, Brazil, and South Africa is boosting the demand for lubricants and their derivatives such as finished lubricants. This major fact remarkably contributes to the growth of the global Base Oil market.

Furthermore, demand for eco-friendly synthetic hydraulic oils or hydraulic fluids has been growing, due to the reduction of crude oil levels and rising focus on the protection of the environment. These oils are employed in several end-use industries such as aviation, manufacturing, construction, and automotive. Therefore, rapid industrialization and mechanization of industries are propelling the demand for hydraulic fluids. Eventually, it boosting the growth of the global base oil market.

Additionally, group II and III base oils possess higher oxidation stability and lower sulfur content and volatility. Also, they have higher solvency power. Hence, group II and III base oils are suitable for use in the formulation of lubricants, typically for passenger cars, heavy-duty vehicles, and automatic transmission engines. These characteristics of Group II and III base oils are expected to fuel the demand for these oils in the forecast period. This factor supports the growth of the global base oil market steadily.

On the other hand, volatility in prices of crude oil may hamper the growth of the Base Oil market.

Covid-19 Impact on Base Oil Market:

The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
 
Base Oil Market Segment Overview

Based on application, the Automotive Fluids segment is projected to dominate the base oil market over the forecast period. In the automotive industry, base oils are extensively employed to manufacture lubricants. Lubricants play an important role in automotive engine, transmission, and steering mechanisms by reducing friction and heat generation. Additionally, the increase in the automotive sector in the developing regions further propelling the growth of the automotive fluids application segment. Moreover, Hydraulic Oils is another main segment of the global base oil market. Hydraulic oils provide superior thermal and oxidation stability, low pour points, high viscosity index, and superior heat transfer.

Base Oil Market, By Grade
  • Group I
    • SN 150
    • BS 150
    • SN 250
    • SN 500
    • Others
  • Group II
    • N 150
    • N 500
    • N 600
    • Others
  • Group III
    • 2 cSt
    • 4 cSt
    • 6 cSt
    • 8 cSt
  • Group IV (PAO)
  • Group V (Excl. Naphthenic)
  • Naphthenic
    • 35–60 SUS
    • 80–130 SUS
    • 200–300 SUS
    • 400–800 SUS
    • Above 1,200 SUS
  • Re-refined
Base Oil Market, By Application
  • Automotive Fluids
    • Lubricants
    • Gear Oils
    • Transmission Fluids
    • Power Steering Fluids
    • Brake Fluids
    • Others
  • Process Oils
    • Rubber Process Oils
    • Textile Process Oils
  • Industrial Oils
    • Transformer Oils
    • Turbine Oils
    • Food-grade Oils
    • Others
  • Metalworking Fluids
    • Emulsions
    • Neat Oils
  • Hydraulic Oils
    • Petroleum-based
    • Biodegradable
  • Others
Base Oil Market Regional Overview

Region-wise, Asia Pacific dominated the global base oil market. This can be attributed to the rapid growth of the automotive industry, and increasing demand for electric vehicles in this region. Similarly, North America is the second-largest market for base oils. Demand for lubricants in the U.S. is increasing moderately, owing to a rise in government spending to impose emission standards, increasing consumer inclination toward high-quality lubricants, and constant research in automation technologies in the field of blended lubricants in this region. This major fact expanding the base oil market in North America.

Base Oil Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)

Base Oil Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Base Oil are highlighted below.

·       In September 2019, Repsol signed an agreement for the purchase of a 40% stake in United Oil Company, a Singapore-based lubricant manufacturer that produces and supplies Repsol’s products in Singapore, Indonesia, Malaysia, and Vietnam. This agreement would expand its presence in Southeast Asia, one of the world’s largest and most rapidly expanding industries for lubricants.

Base Oil Market, Key Players

·       PetroChina Company Limited
·       Royal Dutch Shell Plc
·       Nynas AB
·       S-OIL CORPORATION
·       Refinery (India) Limited
·       Repsol
·       Calumet Specialty Products Partners
·       L.P
·       SAC Petrobras S.A.
·       Apar Industries Ltd.
·       Gulf Petrochem FZC
·       Resolute Oil, LLC
·       UniSource Energy, Inc.

Base Oil Market Study Global Market Analysis, Insights and Forecast, 2023-2030

    1. Introduction

    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions

    2. Executive Summary

      3. Market Dynamics

      • 3.1. Market Drivers
      • 3.2. Market Restraints
      • 3.3. Market Opportunities

      4. Key Insights

      • 4.1. Key Emerging Trends – For Major Countries
      • 4.2. Latest Technological Advancement
      • 4.3. Regulatory Landscape
      • 4.4. Industry SWOT Analysis
      • 4.5. Porters Five Forces Analysis

      5. Global Base Oil Market Analysis (USD Billion), Insights and Forecast, 2023-2030

      • 5.1. Key Findings / Summary
      • 5.2. Market Analysis, Insights and Forecast – By Grade
        • 5.2.1. Group I
          • 5.2.1.1. SN 150
          • 5.2.1.2. BS 150
          • 5.2.1.3. SN 250
          • 5.2.1.4. SN 500
          • 5.2.1.5. Others
        • 5.2.2. Group II
          • 5.2.2.1. N 150
          • 5.2.2.2. N 500
          • 5.2.2.3. N 600
          • 5.2.2.4. Others
        • 5.2.3. Group III
          • 5.2.3.1. 2 cSt
          • 5.2.3.2. 4 cSt
          • 5.2.3.3. 6 cSt
          • 5.2.3.4. 8 cSt
        • 5.2.4. Group IV (PAO)
        • 5.2.5. Group V (Excl. Naphthenic)
        • 5.2.6. Naphthenic
          • 5.2.6.1. 35–60 SUS
          • 5.2.6.2. 80–130 SUS
          • 5.2.6.3. 200–300 SUS
          • 5.2.6.4. 400–800 SUS
          • 5.2.6.5. Above 1,200 SUS
        • 5.2.7. Re-refined
      • 5.3. Market Analysis, Insights and Forecast – By Application
        • 5.3.1. Automotive Fluids
          • 5.3.1.1. Lubricants
          • 5.3.1.2. Gear Oils
          • 5.3.1.3. Transmission Fluids
          • 5.3.1.4. Power Steering Fluids
          • 5.3.1.5. Brake Fluids
          • 5.3.1.6. Others
        • 5.3.2. Process Oils
          • 5.3.2.1. Rubber Process Oils
          • 5.3.2.2. Textile Process Oils
        • 5.3.3. Industrial Oils
          • 5.3.3.1. Transformer Oils
          • 5.3.3.2. Turbine Oils
          • 5.3.3.3. Food-grade Oils
          • 5.3.3.4. Others
        • 5.3.4. Metalworking Fluids
          • 5.3.4.1. Emulsions
          • 5.3.4.2. Neat Oils
        • 5.3.5. Hydraulic Oils
          • 5.3.5.1. Petroleum-based
          • 5.3.5.2. Biodegradable
        • 5.3.6. Others
      • 5.4. Market Analysis, Insights and Forecast – By Region
        • 5.4.1. North America
        • 5.4.2. Europe
        • 5.4.3. Asia Pacific
        • 5.4.4. Latin America, Middle East and Africa

      6. North America Base Oil Market Analysis (USD Billion), Insights and Forecast, 2023-2030

      • 6.1. Key Findings / Summary
      • 6.2. Market Analysis, Insights and Forecast – By Grade
        • 6.2.1. Group I
          • 6.2.1.1. SN 150
          • 6.2.1.2. BS 150
          • 6.2.1.3. SN 250
          • 6.2.1.4. SN 500
          • 6.2.1.5. Others
        • 6.2.2. Group II
          • 6.2.2.1. N 150
          • 6.2.2.2. N 500
          • 6.2.2.3. N 600
          • 6.2.2.4. Others
        • 6.2.3. Group III
          • 6.2.3.1. 2 cSt
          • 6.2.3.2. 4 cSt
          • 6.2.3.3. 6 cSt
          • 6.2.3.4. 8 cSt
        • 6.2.4. Group IV (PAO)
        • 6.2.5. Group V (Excl. Naphthenic)
        • 6.2.6. Naphthenic
          • 6.2.6.1. 35–60 SUS
          • 6.2.6.2. 80–130 SUS
          • 6.2.6.3. 200–300 SUS
          • 6.2.6.4. 400–800 SUS
          • 6.2.6.5. Above 1,200 SUS
        • 6.2.7. Re-refined
      • 6.3. Market Analysis, Insights and Forecast – By Application
        • 6.3.1. Automotive Fluids
          • 6.3.1.1. Lubricants
          • 6.3.1.2. Gear Oils
          • 6.3.1.3. Transmission Fluids
          • 6.3.1.4. Power Steering Fluids
          • 6.3.1.5. Brake Fluids
          • 6.3.1.6. Others
        • 6.3.2. Process Oils
          • 6.3.2.1. Rubber Process Oils
          • 6.3.2.2. Textile Process Oils
        • 6.3.3. Industrial Oils
          • 6.3.3.1. Transformer Oils
          • 6.3.3.2. Turbine Oils
          • 6.3.3.3. Food-grade Oils
          • 6.3.3.4. Others
        • 6.3.4. Metalworking Fluids
          • 6.3.4.1. Emulsions
          • 6.3.4.2. Neat Oils
        • 6.3.5. Hydraulic Oils
          • 6.3.5.1. Petroleum-based
          • 6.3.5.2. Biodegradable
        • 6.3.6. Others
      • 6.4. Market Analysis, Insights and Forecast – By Country
        • 6.4.1. U.S.
        • 6.4.2. Canada

      7. Europe Base Oil Market Analysis (USD Billion), Insights and Forecast, 2023-2030

      • 7.1. Key Findings / Summary
      • 7.2. Market Analysis, Insights and Forecast – By Grade
        • 7.2.1. Group I
          • 7.2.1.1. SN 150
          • 7.2.1.2. BS 150
          • 7.2.1.3. SN 250
          • 7.2.1.4. SN 500
          • 7.2.1.5. Others
        • 7.2.2. Group II
          • 7.2.2.1. N 150
          • 7.2.2.2. N 500
          • 7.2.2.3. N 600
          • 7.2.2.4. Others
        • 7.2.3. Group III
          • 7.2.3.1. 2 cSt
          • 7.2.3.2. 4 cSt
          • 7.2.3.3. 6 cSt
          • 7.2.3.4. 8 cSt
        • 7.2.4. Group IV (PAO)
        • 7.2.5. Group V (Excl. Naphthenic)
        • 7.2.6. Naphthenic
          • 7.2.6.1. 35–60 SUS
          • 7.2.6.2. 80–130 SUS
          • 7.2.6.3. 200–300 SUS
          • 7.2.6.4. 400–800 SUS
          • 7.2.6.5. Above 1,200 SUS
        • 7.2.7. Re-refined
      • 7.3. Market Analysis, Insights and Forecast – By Application
        • 7.3.1. Automotive Fluids
          • 7.3.1.1. Lubricants
          • 7.3.1.2. Gear Oils
          • 7.3.1.3. Transmission Fluids
          • 7.3.1.4. Power Steering Fluids
          • 7.3.1.5. Brake Fluids
          • 7.3.1.6. Others
        • 7.3.2. Process Oils
          • 7.3.2.1. Rubber Process Oils
          • 7.3.2.2. Textile Process Oils
        • 7.3.3. Industrial Oils
          • 7.3.3.1. Transformer Oils
          • 7.3.3.2. Turbine Oils
          • 7.3.3.3. Food-grade Oils
          • 7.3.3.4. Others
        • 7.3.4. Metalworking Fluids
          • 7.3.4.1. Emulsions
          • 7.3.4.2. Neat Oils
        • 7.3.5. Hydraulic Oils
          • 7.3.5.1. Petroleum-based
          • 7.3.5.2. Biodegradable
        • 7.3.6. Others
      • 7.4. Market Analysis, Insights and Forecast – By Country
        • 7.4.1. UK
        • 7.4.2. Germany
        • 7.4.3. France
        • 7.4.4. Italy
        • 7.4.5. Spain
        • 7.4.6. Russia
        • 7.4.7. Rest of Europe

      8. Asia Pacific Base Oil Market Analysis (USD Billion), Insights and Forecast, 2023-2030

      • 8.1. Key Findings / Summary
      • 8.2. Market Analysis, Insights and Forecast – By Grade
        • 8.2.1. Group I
          • 8.2.1.1. SN 150
          • 8.2.1.2. BS 150
          • 8.2.1.3. SN 250
          • 8.2.1.4. SN 500
          • 8.2.1.5. Others
        • 8.2.2. Group II
          • 8.2.2.1. N 150
          • 8.2.2.2. N 500
          • 8.2.2.3. N 600
          • 8.2.2.4. Others
        • 8.2.3. Group III
          • 8.2.3.1. 2 cSt
          • 8.2.3.2. 4 cSt
          • 8.2.3.3. 6 cSt
          • 8.2.3.4. 8 cSt
        • 8.2.4. Group IV (PAO)
        • 8.2.5. Group V (Excl. Naphthenic)
        • 8.2.6. Naphthenic
          • 8.2.6.1. 35–60 SUS
          • 8.2.6.2. 80–130 SUS
          • 8.2.6.3. 200–300 SUS
          • 8.2.6.4. 400–800 SUS
          • 8.2.6.5. Above 1,200 SUS
        • 8.2.7. Re-refined
      • 8.3. Market Analysis, Insights and Forecast – By Application
        • 8.3.1. Automotive Fluids
          • 8.3.1.1. Lubricants
          • 8.3.1.2. Gear Oils
          • 8.3.1.3. Transmission Fluids
          • 8.3.1.4. Power Steering Fluids
          • 8.3.1.5. Brake Fluids
          • 8.3.1.6. Others
        • 8.3.2. Process Oils
          • 8.3.2.1. Rubber Process Oils
          • 8.3.2.2. Textile Process Oils
        • 8.3.3. Industrial Oils
          • 8.3.3.1. Transformer Oils
          • 8.3.3.2. Turbine Oils
          • 8.3.3.3. Food-grade Oils
          • 8.3.3.4. Others
        • 8.3.4. Metalworking Fluids
          • 8.3.4.1. Emulsions
          • 8.3.4.2. Neat Oils
        • 8.3.5. Hydraulic Oils
          • 8.3.5.1. Petroleum-based
          • 8.3.5.2. Biodegradable
        • 8.3.6. Others
      • 8.4. Market Analysis, Insights and Forecast – By Country
        • 8.4.1. China
        • 8.4.2. India
        • 8.4.3. Japan
        • 8.4.4. Australia
        • 8.4.5. South East Asia
        • 8.4.6. Rest of Asia Pacific

      9. Latin America, Middle East and Africa Base Oil Market Analysis (USD Billion), Insights and Forecast, 2023-2030

      • 9.1. Key Findings / Summary
      • 9.2. Market Analysis, Insights and Forecast – By Grade
        • 9.2.1. Group I
          • 9.2.1.1. SN 150
          • 9.2.1.2. BS 150
          • 9.2.1.3. SN 250
          • 9.2.1.4. SN 500
          • 9.2.1.5. Others
        • 9.2.2. Group II
          • 9.2.2.1. N 150
          • 9.2.2.2. N 500
          • 9.2.2.3. N 600
          • 9.2.2.4. Others
        • 9.2.3. Group III
          • 9.2.3.1. 2 cSt
          • 9.2.3.2. 4 cSt
          • 9.2.3.3. 6 cSt
          • 9.2.3.4. 8 cSt
        • 9.2.4. Group IV (PAO)
        • 9.2.5. Group V (Excl. Naphthenic)
        • 9.2.6. Naphthenic
          • 9.2.6.1. 35–60 SUS
          • 9.2.6.2. 80–130 SUS
          • 9.2.6.3. 200–300 SUS
          • 9.2.6.4. 400–800 SUS
          • 9.2.6.5. Above 1,200 SUS
        • 9.2.7. Re-refined
      • 9.3. Market Analysis, Insights and Forecast – By Application
        • 9.3.1. Automotive Fluids
          • 9.3.1.1. Lubricants
          • 9.3.1.2. Gear Oils
          • 9.3.1.3. Transmission Fluids
          • 9.3.1.4. Power Steering Fluids
          • 9.3.1.5. Brake Fluids
          • 9.3.1.6. Others
        • 9.3.2. Process Oils
          • 9.3.2.1. Rubber Process Oils
          • 9.3.2.2. Textile Process Oils
        • 9.3.3. Industrial Oils
          • 9.3.3.1. Transformer Oils
          • 9.3.3.2. Turbine Oils
          • 9.3.3.3. Food-grade Oils
          • 9.3.3.4. Others
        • 9.3.4. Metalworking Fluids
          • 9.3.4.1. Emulsions
          • 9.3.4.2. Neat Oils
        • 9.3.5. Hydraulic Oils
          • 9.3.5.1. Petroleum-based
          • 9.3.5.2. Biodegradable
        • 9.3.6. Others
      • 9.4. Market Analysis, Insights and Forecast – By Country
        • 9.4.1. Brazil
        • 9.4.2. Saudi Arabia
        • 9.4.3. UAE
        • 9.4.4. Rest of LAMEA

      10. Competitive Analysis

      • 10.1. Company Market Share Analysis, 2018
      • 10.2. Key Industry Developments
      • 10.3. Company Profile
      • 10.4. PetroChina Company Limited
        • 10.4.1. Business Overview
        • 10.4.2. Segment 1 & Service Offering
        • 10.4.3. Overall Revenue
        • 10.4.4. Geographic Presence
        • 10.4.5. Recent Development
      *Similar details will be provided for the following companies
      • 10.5. Royal Dutch Shell Plc
      • 10.6. Nynas AB
      • 10.7. S-OIL CORPORATION
      • 10.8. Refinery (India) Limited
      • 10.9. Repsol
      • 10.10. Calumet Specialty Products Partners
      • 10.11. L.P
      • 10.12. SAC Petrobras S.A.
      • 10.13. Apar Industries Ltd.
      • 10.14. Gulf Petrochem FZC
      • 10.15. Resolute Oil, LLC
      List of Figures

      Figure 1: Global Base Oil Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
      Figure 2: Global Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 3: Global Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 4: Global Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 5: Global Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 6: Global Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 7: Global Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 8: Global Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 9: Global Base Oil Market Forecast (USD Billion), by Others, 2018-2030
      Figure 10: Global Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 11: Global Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 12: Global Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 13: Global Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 14: Global Market Forecast (USD Billion), by Others, 2018-2030
      Figure 15: Global Market Value (USD Billion), by Region, 2023 & 2030
      Figure 16: North America Base Oil Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 17: North America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 18: North America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 19: North America Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 20: North America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 21: North America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 22: North America Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 23: North America Market Forecast (USD Billion), by Others, 2018-2030
      Figure 24: North America Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 25: North America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 26: North America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 27: North America Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 28: North America Market Forecast (USD Billion), by Others, 2018-2030
      Figure 29: North America Market Forecast (USD Billion), by U.S., 2018-2030
      Figure 30: North America Market Forecast (USD Billion), by Canada, 2018-2030
      Figure 31: Latin America Base Oil Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 32: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 33: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 34: Latin America Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 35: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 36: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 37: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 38: Latin America Market Forecast (USD Billion), by Others, 2018-2030
      Figure 39: Latin America Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 40: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 41: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 42: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 43: Latin America Market Forecast (USD Billion), by Others, 2018-2030
      Figure 44: Latin America Market Forecast (USD Billion), by Brazil, 2018-2030
      Figure 45: Latin America Market Forecast (USD Billion), by Mexico, 2018-2030
      Figure 46: Latin America Market Forecast (USD Billion), by Rest of Latin America, 2018-2030
      Figure 47: Europe Base Oil Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 48: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 49: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 50: Europe Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 51: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 52: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 53: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 54: Europe Market Forecast (USD Billion), by Others, 2018-2030
      Figure 55: Europe Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 56: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 57: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 58: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 59: Europe Market Forecast (USD Billion), by Others, 2018-2030
      Figure 60: Europe Market Forecast (USD Billion), by U.K., 2018-2030
      Figure 61: Europe Market Forecast (USD Billion), by Germany, 2018-2030
      Figure 62: Europe Market Forecast (USD Billion), by France, 2018-2030
      Figure 63: Europe Market Forecast (USD Billion), by Italy, 2018-2030
      Figure 64: Europe Market Forecast (USD Billion), by Spain, 2018-2030
      Figure 65: Europe Market Forecast (USD Billion), by Russia, 2018-2030
      Figure 66: Europe Market Forecast (USD Billion), by Rest of Europe, 2018-2030
      Figure 67: Asia Pacific Base Oil Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 68: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 69: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 70: Asia Pacific Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 71: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 72: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 73: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 74: Asia Pacific Market Forecast (USD Billion), by Others, 2018-2030
      Figure 75: Asia Pacific Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 76: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 77: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 78: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 79: Asia Pacific Market Forecast (USD Billion), by Others, 2018-2030
      Figure 80: Asia Pacific Market Forecast (USD Billion), by China, 2018-2030
      Figure 81: Asia Pacific Market Forecast (USD Billion), by India, 2018-2030
      Figure 82: Asia Pacific Market Forecast (USD Billion), by Japan, 2018-2030
      Figure 83: Asia Pacific Market Forecast (USD Billion), by Australia, 2018-2030
      Figure 84: Asia Pacific Market Forecast (USD Billion), by Southeast Asia, 2018-2030
      Figure 85: Asia Pacific Market Forecast (USD Billion), by Rest of Asia Pacific, 2018-2030
      Figure 86: Middle East & Africa Base Oil Market Value Share (%), By Segment 1, 2023 & 2030
      Figure 87: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 88: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 89: Middle East & Africa Market Value Share (%), By Segment 2, 2023 & 2030
      Figure 90: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 91: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 92: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 93: Middle East & Africa Market Forecast (USD Billion), by Others, 2018-2030
      Figure 94: Middle East & Africa Market Value Share (%), By Segment 3, 2023 & 2030
      Figure 95: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
      Figure 96: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
      Figure 97: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
      Figure 98: Middle East & Africa Market Forecast (USD Billion), by Others, 2018-2030
      Figure 99: Middle East & Africa Market Forecast (USD Billion), by GCC, 2018-2030
      Figure 100: Middle East & Africa Market Forecast (USD Billion), by South Africa, 2018-2030
      Figure 101: Middle East & Africa Market Forecast (USD Billion), by Rest of Middle East & Africa, 2018-2030 
      List of Tables
      Table 1: Global Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 2: Global Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 3: Global Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 4: Global Market Revenue (USD Billion) Forecast, by Region, 2018-2030
      Table 5: North America Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 6: North America Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 7: North America Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 8: North America Market Revenue (USD Billion) Forecast, by Country, 2018-2030
      Table 9: Europe Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 10: Europe Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 11: Europe Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 12: Europe Market Revenue (USD Billion) Forecast, by Country, 2018-2030
      Table 13: Latin America Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 14: Latin America Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 15: Latin America Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 16: Latin America Market Revenue (USD Billion) Forecast, by Country, 2018-2030
      Table 17: Asia Pacific Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 18: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 19: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 20: Asia Pacific Market Revenue (USD Billion) Forecast, by Country, 2018-2030
      Table 21: Middle East & Africa Base Oil Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
      Table 22: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
      Table 23: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
      Table 24: Middle East & Africa Market Revenue (USD Billion) Forecast, by Country, 2018-2030
      Research Process

      Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.

      In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization

      FIGURE 1: DLR RESEARH PROCESS

      research-methodology1

      Primary Research

      Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.

      In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.

      It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.

      Secondary Research

      Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.

      Market Size Estimation

      Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.

      Forecast Model

      research-methodology2

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