Username: Password: Lost Password? - Register Free
 

Subscribers include ExxonMobil, Argus Media, Kline & Company, ConocoPhillips, Luberef, Shell Far East, Shell International Trading & Shipping, Flint Hills Resources, Nynas, Motiva Enterprises, Sunoco, ENOC, ELCO, Petronas, GS Caltex, Behran Oil, Sepahan, Trafigura, TotalFinaElf, Castrol, Indian Oil Corporation, Hindustan Petroleum, Bharat Petroleum, MRPL, Bharat Shell, Feedco Resources, Qatar Lubricants, Chemlube, Caltex, Columbia Petrochem, Apar Industries, Gulf Oil, Tide Water, Valvoline, Lubrizol, Raj Petroleum, Panama Petrochem, Meguin, Karol Lubricants, Bajaj Auto, Kirloskar Oil Engines, and many more prominent companies.

Base-oil-report-banner

 

 
 

 

 

IMPEX data

 
 
 
 
 

Global Base oil market is projected to grow from USD 33.7 billion in 2019 to USD 39.6 billion by 2024, at a CAGR of 3.3% from 2019 to 2024.

 
 
Keywords:
 

Global Base oil market is projected to grow from USD 33.7 billion in 2019 to USD 39.6 billion by 2024, at a CAGR of 3.3% from 2019 to 2024. The growing demand for high-grade oils in the automotive industry and the rising GDP in the Asia Pacific region are positively impacting the base oil markets. The increasing inclination toward cleaner and better-quality base oil is restraining the growth of this market.

The Group II segment is projected to lead the base oil market, by group, from 2019 to 2024.

Based on group, the Group II segment accounted for the largest share of the base oil market in 2018.Group II base oil is used in a multitude of applications, such as marine and gas engines, in trunk piston engine oils, and other applications in the base oil industry.

The high consumption of Group II base oil is mainly attributed to its higher performance and affordability in comparison to the other groups of base oil. The Group II segment is also projected to lead the market.