Table of Content

1 INTRODUCTION 37
1.1 OBJECTIVES OF THE STUDY 37
1.2 MARKET DEFINITION 37
1.2.1 INCLUSIONS & EXCLUSIONS 38
TABLE 1 BASE OIL MARKET: INCLUSIONS & EXCLUSIONS 38
1.3 SCOPE OF THE STUDY 38
1.3.1 MARKETS COVERED 38
1.3.2 REGIONAL SCOPE 39
1.3.3 YEARS CONSIDERED FOR THE STUDY 39
1.4 CURRENCY CONSIDERED 40
1.4.1 PACKAGE SIZE 40
1.5 STAKEHOLDERS 40

2 RESEARCH METHODOLOGY 41
2.1 RESEARCH DATA 41
FIGURE 1 BASE OIL MARKET: RESEARCH DESIGN 41
2.1.1 SECONDARY DATA 42
2.1.1.1 Key secondary sources 42
2.1.2 PRIMARY DATA 43
2.1.2.1 Key data from primary sources 43
2.1.2.2 Key industry insights 43
2.1.2.3 Breakdown of primary interviews 44
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY,
DESIGNATION, AND REGION 44
2.2 MARKET SIZE ESTIMATION 44
2.2.1 PRIMARY AND SECONDARY RESEARCH 45
FIGURE 3 MARKET SIZE ESTIMATION 45
FIGURE 4 MARKET SIZE CALCULATION, BY APPLICATION 46
FIGURE 5 MARKET SIZE CALCULATION, BY GROUP 46
FIGURE 6 FORECAST NUMBER CALCULATION 47
2.3 MARKET SIZE ESTIMATION 47
FIGURE 7 BOTTOM-UP APPROACH 47
FIGURE 8 TOP-DOWN APPROACH 48
2.4 DATA TRIANGULATION 48
FIGURE 9 DATA TRIANGULATION 49
2.5 RESEARCH ASSUMPTIONS 49
2.6 LIMITATIONS 50

3 EXECUTIVE SUMMARY 51

4 PREMIUM INSIGHTS 55
4.1 ATTRACTIVE OPPORTUNITIES IN BASE OIL MARKET 55
FIGURE 13 BASE OIL MARKET IS PROJECTED TO WITNESS SLUGGISH GROWTH
DURING FORECAST PERIOD 55
4.2 ASIA PACIFIC BASE OIL MARKET, BY GROUP & COUNTRY 56
FIGURE 14 GROUP II AND CHINA ESTIMATED TO DOMINATE ASIA PACIFIC BASE OIL MARKET IN 2020 (KILOTON) 56
4.3 BASE OIL MARKET, BY GROUP 57
FIGURE 15 GROUP II SEGMENT PROJECTED TO LEAD BASE OIL MARKET DURING FORECAST PERIOD 57
4.4 BASE OIL MARKET, BY APPLICATION 57
FIGURE 16 AUTOMOTIVE OIL TO DOMINATE BASE OIL MARKET DURING FORECAST PERIOD (KILO TONS) 57
4.5 BASE OIL MARKET GROWTH 58
FIGURE 17 BASE OIL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD (KILOTON) 58

5 BASE OIL PATENT ANALYSIS 59
FIGURE 18 PUBLICATION TRENDS - LAST 5 YEARS 59
5.1 INSIGHT 60
FIGURE 19 GEOGRAPHICAL REPRESENTATION 60
FIGURE 20 TOP ASSIGNEES 60

6 MARKET OVERVIEW 62
6.1 INTRODUCTION 62
6.2 MARKET SEGMENTATION 62
TABLE 3 BASE OIL MARKET, BY GROUP 62
TABLE 4 BASE OIL MARKET, BY TYPE 63
TABLE 5 BASE OIL MARKET, BY APPLICATION 63
FIGURE 21 BASE OIL MARKET, BY REGION 64
6.3 MARKET DYNAMICS 64
FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF
THE BASE OIL MARKET 64
6.3.1 DRIVERS 65
6.3.1.1 Increasing demand for high-grade oils in the automotive industry 65
6.3.1.2 Growing GDP in Asia Pacific led by increasing industrial activities 66
TABLE 6 INDUSTRIAL GROWTH RATE OF DEVELOPING COUNTRIES
IN ASIA PACIFIC (2018) 66
TABLE 7 GDP GROWTH OF DEVELOPING COUNTRIES IN ASIA PACIFIC 66
6.3.2 RESTRAINTS 67
6.3.2.1 Declining demand for Group I base oil 67
6.3.3 OPPORTUNITIES 67
6.3.3.1 Lucrative market opportunities from BRIC countries 67
TABLE 8 BRIC COUNTRIES ACCOUNTED FOR 22% OF THE TOTAL VEHICLES
ON ROAD IN 2015 67
6.3.3.2 Growing demand for renewable energy 67
6.3.4 CHALLENGES 68
6.3.4.1 Fluctuating prices of crude oil 68
6.3.4.2 Growth in demand for hybrid vehicles and increasing battery
price parity 68
6.4 TRADE DATA STATISTICS 69
6.5 PORTER’S FIVE FORCES ANALYSIS 71
FIGURE 23 BASE OIL MARKET: PORTER’S FIVE FORCES ANALYSIS 71
6.5.1 BARGAINING POWER OF SUPPLIERS 72
6.5.2 BARGAINING POWER OF BUYERS 72
6.5.3 THREAT OF SUBSTITUTES 72
6.5.4 THREAT OF NEW ENTRANTS 72
6.5.5 INTENSITY OF COMPETITIVE RIVALRY 72
6.6 INDUSTRY OUTLOOK 73
6.6.1 AUTOMOTIVE INDUSTRY 73
TABLE 9 SALE OF NEW VEHICLES IN KEY COUNTRIES OF APAC, 2018 (UNITS) 73
TABLE 10 SALE OF NEW VEHICLES IN KEY COUNTRIES OF NORTH AMERICA,
2018 (UNITS) 73
TABLE 11 SALE OF NEW VEHICLE IN KEY COUNTRIES OF EUROPE, 2018 (UNITS) 73
TABLE 12 SALE OF NEW VEHICLES IN KEY COUNTRIES OF SOUTH AMERICA,
2018 (UNITS) 73
TABLE 13 SALE OF NEW VEHICLES IN KEY COUNTRIES OF MIDDLE EAST
& AFRICA, 2018 (UNITS) 74
6.7 VALUE CHAIN ANALYSIS 74
6.8 ECOSYSTEM/MARKET MAP 74
6.8.1 CASE STUDY 75

7 RE-REFINED BASE OIL MARKET 76
7.1 INTRODUCTION 76
7.2 TECHNOLOGY FOR RE-REFINED BASE OIL 76
FIGURE 24 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF
THE BASE OIL MARKET 77
7.3 REGIONAL ANALYSIS 78
7.3.1 NORTH AMERICA 78
FIGURE 25 RE-REFINED BASE OIL CAPACITY, BY REGION (2014) 78
TABLE 14 CAPACITY OF MAJOR RE-REFINING OIL COMPANIES, BY REGION,
2014 (METRIC TONS) 79
7.3.2 EUROPE 79

8 BASE OIL MARKET, BY TYPE 80
8.1 INTRODUCTION 80
8.2 MINERAL OIL 80
8.2.1 GROWING EMPHASIS ON PREMIUM GRADE PRODUCTS TO AFFECT
THE MARKET FOR MINERAL GRADE BASE OIL 80
8.3 SYNTHETIC OIL 81
8.3.1 HIGH FUEL EFFICIENCY TO DRIVE THE MARKET FOR SYNTHETIC OIL 81
8.4 BIO-BASED OIL 82
8.4.1 ENVIRONMENT-FRIENDLY NATURE OF BIO-BASED LUBRICANTS
TO INCREASE THEIR CONSUMPTION 82

9 BASE OIL MARKET, BY GROUP 83
9.1 INTRODUCTION 84
FIGURE 26 GROUP II SEGMENT PROJECTED TO LEAD BASE OIL MARKET
DURING FORECAST PERIOD 84
TABLE 15 BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 84
TABLE 16 BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 85
TABLE 17 BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 85
TABLE 18 BASE OIL MARKET SIZE, BY GROUP, 2020-2025 (KILOTONS) 85
9.2 GROUP I 86
9.2.1 HIGH SULFUR AND AROMATICS CONTENT PROJECTED TO AFFECT
THE DEMAND FOR GROUP I BASE OIL 86
TABLE 19 GROUP I BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 86
TABLE 20 GROUP I BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 86
TABLE 21 GROUP I BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 87
TABLE 22 GROUP I BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 87
9.3 GROUP II 88
9.3.1 RISING DEMAND FROM AUTOMOTIVE LUBRICANTS DRIVES THE
MARKET FOR GROUP II BASE OIL 88
TABLE 23 GROUP II BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 88
TABLE 24 GROUP II BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 88
TABLE 25 GROUP II BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 89
TABLE 26 GROUP II BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 89
9.4 GROUP III 89
9.4.1 INCLINATION TOWARD FUEL-EFFICIENT LUBRICANTS PROPELS THE
DEMAND FOR GROUP III BASE OIL 89
TABLE 27 GROUP III BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 90
TABLE 28 GROUP III BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 90
TABLE 29 GROUP III BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 91
TABLE 30 GROUP III BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 91
9.5 GROUP IV 91
9.5.1 HIGH VISCOSITY INDEX CONTRIBUTES TO THE GROWTH OF GROUP
IV BASE OIL 91
TABLE 31 GROUP IV BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 92
TABLE 32 GROUP IV BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 92
TABLE 33 GROUP IV BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 92
TABLE 34 GROUP IV BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 93
9.6 GROUP V 93
9.6.1 ESTERS ARE WIDELY USED IN GROUP V BASE OIL MANUFACTURING 93
TABLE 35 GROUP V BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 93
TABLE 36 GROUP V BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 94
TABLE 37 GROUP V BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 94
TABLE 38 GROUP V BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 94
10 BASE OIL MARKET, BY APPLICATION 95
10.1 INTRODUCTION 96
FIGURE 27 AUTOMOTIVE OIL PROJECTED TO LEAD BASE OIL MARKET DURING
FORECAST PERIOD 96
TABLE 39 BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (USD MILLION) 96
TABLE 40 BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION) 97
TABLE 41 BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 97
TABLE 42 BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 97
10.2 AUTOMOTIVE OIL 98
10.2.1 ASIA PACIFIC IS THE LARGEST CONSUMER OF AUTOMOTIVE OIL GLOBALLY 98
TABLE 43 BASE OIL MARKET SIZE IN AUTOMOTIVE OIL, BY REGION,
2016–2020 (USD MILLION) 98
TABLE 44 BASE OIL MARKET SIZE IN AUTOMOTIVE OIL, BY REGION,
2020–2025 (USD MILLION) 99
TABLE 45 BASE OIL MARKET SIZE IN AUTOMOTIVE OIL, BY REGION,
2016–2019 (KILOTONS) 99
TABLE 46 BASE OIL MARKET SIZE IN AUTOMOTIVE OIL, BY REGION,
2020–2025 (KILOTONS) 99
10.2.1.1 COVID-19 Impact on Automotive 100
10.3 INDUSTRIAL OIL 100
10.3.1 GROWING INDUSTRIALIZATION TO DRIVE THE MARKET FOR INDUSTRIAL OIL 100
TABLE 47 BASE OIL MARKET SIZE IN INDUSTRIAL OIL, BY REGION,
2016–2019 (USD MILLION) 101
TABLE 48 BASE OIL MARKET SIZE IN INDUSTRIAL OIL, BY REGION,
2020–2025 (USD MILLION) 101
TABLE 49 BASE OIL MARKET SIZE IN INDUSTRIAL OIL, BY REGION,
2016–2019 (KILOTONS) 102
TABLE 50 BASE OIL MARKET SIZE IN INDUSTRIAL OIL, BY REGION,
2020–2025 (KILOTONS) 102
10.3.1.1 COVID-19 Impact on Industrial Oil 102
10.4 METALWORKING FLUID 103
10.4.1 GROWING METAL & MINING INDUSTRY TO DRIVE THE METALWORKING
FLUID MARKET 103
TABLE 51 BASE OIL MARKET SIZE IN METALWORKING FLUID, BY REGION,
2016–2019 (USD MILLION) 103
TABLE 52 BASE OIL MARKET SIZE IN METALWORKING FLUID, BY REGION,
2020–2025 (USD MILLION) 104
TABLE 53 BASE OIL MARKET SIZE IN METALWORKING FLUID, BY REGION,
2016–2019 (KILOTONS) 104
TABLE 54 BASE OIL MARKET SIZE IN METALWORKING FLUID, BY REGION,
2020–2025 (KILOTONS) 104
10.4.1.1 COVID-19 Impact on Metalworking Fluid 105
10.5 HYDRAULIC OIL 106
10.5.1 DEMAND FOR HYDRAULIC OILS ESTIMATED TO BE LARGELY DRIVEN
BY DEVELOPING COUNTRIES OF ASIA PACIFIC, THE MIDDLE EAST
& AFRICA, AND SOUTH AMERICA 106
TABLE 55 BASE OIL MARKET SIZE IN HYDRAULIC OIL, BY REGION,
2016–2019 (USD MILLION) 106
TABLE 56 BASE OIL MARKET SIZE IN HYDRAULIC OIL, BY REGION,
2020–2025 (USD MILLION) 107
TABLE 57 BASE OIL MARKET SIZE IN HYDRAULIC OIL, BY REGION,
2016–2019 (KILOTONS) 107
TABLE 58 BASE OIL MARKET SIZE IN HYDRAULIC OIL, BY REGION,
2020–2025 (KILOTONS) 107
10.5.1.1 COVID-19 Impact on Hydraulic Oil 108
10.6 GREASE 108
10.6.1 MINING, CONSTRUCTION, AND TRANSPORTATION SECTORS
ARE MAJOR CONSUMERS OF GREASE 108
TABLE 59 BASE OIL MARKET SIZE IN GREASE, BY REGION, 2016–2019 (USD MILLION) 109
TABLE 60 BASE OIL MARKET SIZE IN GREASE, BY REGION, 2020–2025 (USD MILLION) 109
TABLE 61 BASE OIL MARKET SIZE IN GREASE, BY REGION, 2016–2019 (KILOTONS) 109
TABLE 62 BASE OIL MARKET SIZE IN GREASE, BY REGION, 2020–2025 (KILOTONS) 110
10.6.1.1 COVID-19 Impact on Grease 110
10.7 OTHERS 110
TABLE 63 BASE OIL MARKET SIZE IN OTHERS, BY REGION, 2016–2019 (USD MILLION) 111
TABLE 64 BASE OIL MARKET SIZE IN OTHERS, BY REGION, 2020–2025 (USD MILLION) 111
TABLE 65 BASE OIL MARKET SIZE IN OTHERS, BY REGION, 2016–2019 (KILOTONS) 111
TABLE 66 BASE OIL MARKET SIZE IN OTHERS, BY REGION, 2020–2025 (KILOTONS) 112

11 BASE OIL MARKET, BY REGION 113
11.1 INTRODUCTION 114
FIGURE 28 ASIA PACIFIC TO BE LARGEST MARKET FOR BASE OIL DURING
FORECAST PERIOD 114
TABLE 67 BASE OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 114
TABLE 68 BASE OIL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 115
TABLE 69 BASE OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTONS) 115
TABLE 70 BASE OIL MARKET SIZE, BY REGION, 2020–2025 (KILOTONS) 115
11.2 ASIA PACIFIC 116
FIGURE 29 ASIA PACIFIC: BASE OIL MARKET SNAPSHOT 117
TABLE 71 ASIA PACIFIC: BASE OIL MARKET SIZE, BY COUNTRY,
2016–2019 (USD MILLION) 118
TABLE 72 ASIA PACIFIC: BASE OIL MARKET SIZE, BY COUNTRY,
2020–2025 (USD MILLION) 118
TABLE 73 ASIA PACIFIC: BASE OIL MARKET SIZE, BY COUNTRY,
2016–2019 (KILOTONS) 118
TABLE 74 ASIA PACIFIC: BASE OIL MARKET SIZE, BY COUNTRY,
2020–2025 (KILOTONS) 119
TABLE 75 ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2016–2019 (USD MILLION) 119
TABLE 76 ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2020–2025 (USD MILLION) 119
TABLE 77 ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 120
TABLE 78 ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 120
TABLE 79 ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 120
TABLE 80 ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 121
TABLE 81 ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 121
TABLE 82 ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 121
11.2.1 CHINA 122
11.2.1.1 Increasing population drives the demand for base oil in China 122
TABLE 83 CHINA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 122
TABLE 84 CHINA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 122
TABLE 85 CHINA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 123
TABLE 86 CHINA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 123
TABLE 87 CHINA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 123
TABLE 88 CHINA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 124
TABLE 89 CHINA: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 124
TABLE 90 CHINA: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 124
11.2.1.2 COVID-19 Impact on China 125
11.2.2 JAPAN 125
11.2.2.1 Growing automotive production to fuel the base oil market in Japan 125
TABLE 91 JAPAN: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 126
TABLE 92 JAPAN: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 126
TABLE 93 JAPAN: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 126
TABLE 94 JAPAN: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 127
TABLE 95 JAPAN: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 127
TABLE 96 JAPAN: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 127
TABLE 97 JAPAN: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 128
TABLE 98 JAPAN: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 128
11.2.2.2 COVID-19 Impact on Japan 128
11.2.3 INDIA 129
11.2.3.1 Rapid urbanization and growing population to boost the demand
for base oil in India 129
TABLE 99 INDIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 129
TABLE 100 INDIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 129
TABLE 101 INDIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 130
TABLE 102 INDIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 130
TABLE 103 INDIA: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (USD MILLION) 130
TABLE 104 INDIA: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION) 131
TABLE 105 INDIA: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 131
TABLE 106 INDIA: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 131
11.2.3.2 COVID-19 Impact on India 132
11.2.4 SOUTH KOREA 132
11.2.4.1 Growing industrial development to generate a positive impact
on the base oil market in South Korea 132
TABLE 107 SOUTH KOREA: BASE OIL MARKET SIZE, BY GROUP,
2016–2019 (USD MILLION) 133
TABLE 108 SOUTH KOREA: BASE OIL MARKET SIZE, BY GROUP,
2020–2025 (USD MILLION) 133
TABLE 109 SOUTH KOREA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 133
TABLE 110 SOUTH KOREA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 134
TABLE 111 SOUTH KOREA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 134
TABLE 112 SOUTH KOREA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 134
TABLE 113 SOUTH KOREA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 135
TABLE 114 SOUTH KOREA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 135
11.2.4.2 COVID-19 Impact on South Korea 135
11.2.5 INDONESIA 136
11.2.5.1 Rising oil production to spur the demand for base oil in Indonesia 136
TABLE 115 INDONESIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 136
TABLE 116 INDONESIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 136
TABLE 117 INDONESIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 137
TABLE 118 INDONESIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 137
TABLE 119 INDONESIA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 137
TABLE 120 INDONESIA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 138
TABLE 121 INDONESIA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 138
TABLE 122 INDONESIA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 138
11.2.5.2 COVID-19 Impact on Indonesia 139
_
11.2.6 THAILAND 139
11.2.6.1 Rising production of automotive parts to drive the demand for
base oil in Thailand 139
TABLE 123 THAILAND: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 140
TABLE 124 THAILAND: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 140
TABLE 125 THAILAND: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 140
TABLE 126 THAILAND: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 141
TABLE 127 THAILAND: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 141
TABLE 128 THAILAND: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 141
TABLE 129 THAILAND: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 142
TABLE 130 THAILAND: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 142
11.2.6.2 COVID-19 Impact on Thailand 142
11.2.7 REST OF ASIA PACIFIC 143
TABLE 131 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2016–2019 (USD MILLION) 143
TABLE 132 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2020–2025 (USD MILLION) 143
TABLE 133 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2016–2019 (KILOTONS) 143
TABLE 134 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY GROUP,
2020–2025 (KILOTONS) 144
TABLE 135 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 144
TABLE 136 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 144
TABLE 137 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 145
TABLE 138 REST OF ASIA PACIFIC: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 145
11.2.7.1 COVID-19 Impact on Rest of Asia Pacific 145
11.3 EUROPE 146
FIGURE 30 EUROPE: BASE OIL MARKET SNAPSHOT 147
TABLE 139 EUROPE: BASE OIL MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION) 148
TABLE 140 EUROPE: BASE OIL MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION) 148
TABLE 141 EUROPE: BASE OIL MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTONS) 148
TABLE 142 EUROPE: BASE OIL MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTONS) 149
TABLE 143 EUROPE: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 149
TABLE 144 EUROPE: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 150
TABLE 145 EUROPE: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 150
TABLE 146 EUROPE: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 150
TABLE 147 EUROPE: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 151
TABLE 148 EUROPE: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 151
TABLE 149 EUROPE: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 151
TABLE 150 EUROPE: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 152
11.3.1 RUSSIA 152
11.3.1.1 Russia dominated the European base oil market in 2019 152
TABLE 151 RUSSIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 153
TABLE 152 RUSSIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 153
TABLE 153 RUSSIA: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 153
TABLE 154 RUSSIA: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 154
TABLE 155 RUSSIA: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 154
TABLE 156 RUSSIA: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 154
TABLE 157 RUSSIA: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 155
TABLE 158 RUSSIA: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 155
11.3.1.2 COVID-19 Impact on Russia 155
11.3.2 GERMANY 156
11.3.2.1 Base oil market majorly driven by the automobile industry in Germany 156
TABLE 159 GERMANY: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 156
TABLE 160 GERMANY: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 156
TABLE 161 GERMANY: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 157
TABLE 162 GERMANY: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 157
TABLE 163 GERMANY: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 157
TABLE 164 GERMANY: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 158
TABLE 165 GERMANY: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTONS) 158
TABLE 166 GERMANY: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (KILOTONS) 158
11.3.2.2 COVID-19 Impact on Germany 159
11.3.3 FRANCE 159
11.3.3.1 Presence of major base oil manufacturing companies supports
the market growth in France 159
TABLE 167 FRANCE: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (USD MILLION) 159
TABLE 168 FRANCE: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (USD MILLION) 160
TABLE 169 FRANCE: BASE OIL MARKET SIZE, BY GROUP, 2016–2019 (KILOTONS) 160
TABLE 170 FRANCE: BASE OIL MARKET SIZE, BY GROUP, 2020–2025 (KILOTONS) 160
TABLE 171 FRANCE: BASE OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 161
TABLE 172 FRANCE: BASE OIL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 161
TABLE 173 FRANCE: BASE OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTONS) 161
TABLE 174 FRANCE: BASE OIL MARKET SIZE, BY APPLICATION, 2020–2025 (KILOTONS) 162
11.3.3.2 COVID-19 Impact on France 162