Market by Group, Application, and Country Outlook | Forecast 2022-2028
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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VIEW REPORT1. 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
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)
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)