Europe Base Oil Market Report 2022-2028: Rising Demand for High-Grade Oils from the Automotive Sector Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Europe Base Oil Market 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

MARKET OUTLOOK

The publisher’s report anticipates the European base oil market to surge at a CAGR of 3.32% in revenue from 2022 to 2028. In terms of volume, the market is expected to reach a CAGR of 3.84% CAGR by 2028. France, Germany, the United Kingdom, Italy, Spain, and Rest of Europe are the countries included in this market.

The United Kingdom has a significant presence of renowned market players, such as Shell Plc, Avista Oil AG, and Phillips 66 Company, which is leading the market towards growth. These players devise various strategies to widen the scope of the base oil industry.

For instance, Total Lubricants announced an expansion plan for developing and upgrading its blending plant site at Ferrybridge, in 2020. This plan included purchasing 4 acres of land to enhance the blending process and monitor its warehousing operations. Thus, such factors have boosted the demand for base oil products across wide industries, promoting the growth of this market.

In Germany, factors such as industrial growth and the resulting rise in manufacturing activities, along with product developments and the launch of various base oil products, are substantially driving the growth of the base oil market. According to statistics, the total revenue in the country’s manufacturing sector is anticipated to be $3,000 billion in 2022. Growth in manufacturing activities is expected to enhance the demand and adoption of various types of base oil products to ensure that various machines and components used in manufacturing industries operate smoothly and efficiently. Besides, a significant contribution by market players is also strengthening the base oil market in the country.

Market Dynamics

Market Drivers

• Rising Demand for High-Grade Oils from the Automotive Sector
• Wide Range of Applications Across Different End-Users
• Stringent Environmental Regulations Leading to Strict Performance Standards

Market Challenges

• Volatility in the Price of Crude Oil
• Decrease in the Demand for Group I Base Oil

Market Opportunities

• Increasing Popularity of Renewable Base Oil

Key Topics Covered:

1. Europe Base Oil Market – Summary

2. Industry Outlook

3. Europe Base Oil Market Outlook – by Group (In Terms of Value: $ Million & Volume: Kiloton)

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

Companies Mentioned

• Exxon Mobil Corporation
• Chevron Corporation
• Saudi Aramco
• Shell plc
• Neste Oyj
• Gs Caltex Corporation
• Avista Oil AG
• Pt Pertamina (Persero)
• Phillips 66 Company
• Sepahan Oil
• Ergon Inc
• Grupa Lotos
• Nynas Ab
• S-Oil Corporation
• Repsol Sa

For more information about this report visit https://www.researchandmarkets.com/r/tqruty

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