Global Group II Base Oil Market Growth 2023-2029

Global Group II Base Oil Market Growth 2023-2029

The surge in demand for premium oils in the automotive industry and around the world. Driven by increased industrial activity, the growth of the Asia-Pacific region ’s GDP has driven the growth of global markets. The favorable market opportunities of the BRIC countries (Brazil, Russia, India and China) and the growing demand for renewable energy are expected to drive market growth. During the forecast period, the market is expected to lead the market in terms of value and quantity. Group II base oils can be used in a variety of applications such as marine and natural gas engines, trunk piston engine oils, and other applications in the base oil industry.

LPI (LP Information)' newest research report, the “Group II Base Oil Industry Forecast” looks at past sales and reviews total world Group II Base Oil sales in 2022, providing a comprehensive analysis by region and market sector of projected Group II Base Oil sales for 2023 through 2029. With Group II Base Oil sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Group II Base Oil industry.

This Insight Report provides a comprehensive analysis of the global Group II Base Oil landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Group II Base Oil portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Group II Base Oil market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Group II Base Oil and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Group II Base Oil.

The global Group II Base Oil market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

United States market for Group II Base Oil is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Group II Base Oil is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Group II Base Oil is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Group II Base Oil players cover Chevron Corporation, Exxon Mobil Corporation, S-OIL Corporation, Motiva Enterprises LLC, SK innovation, AVISTA OIL AG and Nynas AB, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of Group II Base Oil market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Mineral
Synthetic
Bio-based

Segmentation by application
Automotive Oil
Industrial Oil
Hydraulic Oil
Grease
Metalworking Fluid
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Chevron Corporation
Exxon Mobil Corporation
S-OIL Corporation
Motiva Enterprises LLC
SK innovation
AVISTA OIL AG
Nynas AB

Key Questions Addressed in this Report

What is the 10-year outlook for the global Group II Base Oil market?

What factors are driving Group II Base Oil market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Group II Base Oil market opportunities vary by end market size?

How does Group II Base Oil break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.