Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) – Global Forecast to 2030

1 INTRODUCTION 29 1.1 STUDY OBJECTIVES 29 1.2 MARKET DEFINITION 29 1.3 STUDY SCOPE 30 1.3.1 MARKETS COVERED 30 1.3.2 INCLUSIONS AND EXCLUSIONS 30 1.3.3 YEARS CONSIDERED 31 1.3.4 CURRENCY CONSIDERED 31 1.3.5 UNIT CONSIDERED 31 1.4 STAKEHOLDERS 31 1.5 SUMMARY OF CHANGES 32 2 EXECUTIVE SUMMARY 33 2.1 KEY INSIGHTS AND MARKET HIGHLIGHTS 33 2.2 KEY MARKET PARTICIPANTS: SHARE INSIGHTS AND STRATEGIC DEVELOPMENTS 34 2.3 DISRUPTIVE TRENDS SHAPING MARKET 35 2.4 HIGH-GROWTH SEGMENTS AND EMERGING FRONTIERS 35 2.5 SNAPSHOT: GLOBAL MARKET SIZE, GROWTH RATE, AND FORECAST 36 3 PREMIUM INSIGHTS 37 3.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BASE OIL MARKET 37 3.2 BASE OIL MARKET, BY GROUP AND REGION 38 3.3 BASE OIL MARKET, BY APPLICATION 38 3.4 BASE OIL MARKET, BY COUNTRY 39 4 MARKET OVERVIEW 40 4.1 INTRODUCTION 40 4.2 MARKET DYNAMICS 40 4.2.1 DRIVERS 41 4.2.1.1 Rising demand for high-performance lubricants 41 4.2.1.2 Rapid industrialization in Asia Pacific 41 4.2.2 RESTRAINTS 41 4.2.2.1 Declining demand for Group I base oil 41 4.2.2.2 Volatile crude oil prices 41 4.2.3 OPPORTUNITIES 42 4.2.3.1 Expansion of re-refining and closed-loop recycling infrastructure 42 4.2.3.2 Growth in renewable and bio-based base oils 42   4.2.4 CHALLENGES 43 4.2.4.1 Electric vehicle penetration reducing long-term lubricant consumption 43 4.3 UNMET NEEDS AND WHITE SPACES 43 4.3.1 UNMET NEEDS IN BASE OIL MARKET 43 4.3.2 WHITE SPACE OPPORTUNITIES 43 4.4 INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES 44 4.4.1 INTERCONNECTED MARKETS 44 4.4.2 CROSS-SECTOR OPPORTUNITIES 44 4.5 EMERGING BUSINESS MODELS AND ECOSYSTEM SHIFTS 45 4.5.1 EMERGING BUSINESS MODELS 45 4.5.2 ECOSYSTEM SHIFTS 45 4.6 STRATEGIC MOVES BY TIER 1/2/3 PLAYERS 46 4.6.1 KEY MOVES AND STRATEGIC FOCUS 46 5 INDUSTRY TRENDS 47 5.1 PORTER’S FIVE FORCES ANALYSIS 47 5.1.1 BARGAINING POWER OF SUPPLIERS 48 5.1.2 BARGAINING POWER OF BUYERS 48 5.1.3 THREAT OF NEW ENTRANTS 48 5.1.4 THREAT OF SUBSTITUTES 49 5.1.5 INTENSITY OF COMPETITIVE RIVALRY 49 5.2 MACROECONOMIC OUTLOOK 49 5.2.1 INTRODUCTION 49 5.2.2 GDP TRENDS AND FORECAST 50 5.2.3 TRENDS IN GLOBAL BASE OIL INDUSTRY 51 5.3 VALUE CHAIN ANALYSIS 52 5.3.1 RESEARCH & DEVELOPMENT 52 5.3.2 RAW MATERIAL 52 5.3.3 MANUFACTURING 52 5.3.4 DISTRIBUTION 53 5.3.5 END-USE INDUSTRIES 53 5.4 ECOSYSTEM ANALYSIS 53 5.5 PRICING ANALYSIS 54 5.5.1 AVERAGE SELLING PRICE TREND OF BASE OIL, BY REGION, 2022–2024 54 5.5.2 AVERAGE SELLING PRICE TREND OF BASE OIL, BY KEY PLAYERS, 2024 55 5.6 TRADE DATA 56 5.6.1 IMPORT SCENARIO (HS CODE 2709) 56 5.6.2 EXPORT SCENARIO (HS CODE 2709) 57 5.7 KEY CONFERENCES AND EVENTS, 2026 58 5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 58 5.9 INVESTMENT AND FUNDING SCENARIO 59 5.10 CASE STUDY ANALYSIS 59 5.10.1 SHELL CASE STUDY: EGYPTIAN IRON AND STEEL COMPANY 59 5.10.1.1 Shell Lubricant Solutions collaborated with Egyptian Iron and Steel Company to deliver significant savings 59 5.10.2 NYNAS CASE STUDY: CARL BECHEM INDIA 60 5.10.2.1 Optimizing food-grade lubricant performance with Nynas’ base oils 60 5.10.3 EXXONMOBIL CASE STUDY: DALIAN HILUBO LUBRICATING OIL COMPANY 60 5.10.3.1 Dalian Hilubo Lubricating Oil Company used ExxonMobil’s formulation expertise and mPAO base stocks to succeed in China’s wind industry 60 5.11 IMPACT OF US 2025 TARIFFS ON BASE OIL MARKET 61 5.11.1 KEY TARIFF RATES IMPACTING MARKET 61 5.11.2 PRICE IMPACT ANALYSIS 61 5.11.3 IMPACT ON KEY COUNTRIES/REGIONS 61 5.11.3.1 US 61 5.11.3.2 Europe 61 5.11.3.3 Asia Pacific 62 5.11.4 IMPACT ON END-USE INDUSTRIES 62 5.11.4.1 Automotive 62 5.11.4.2 Industrial machinery and manufacturing 62 5.11.4.3 Marine 62 5.11.4.4 Aviation 62 5.11.4.5 Metalworking and process 62 6 TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE APPLICATIONS 63 6.1 KEY TECHNOLOGIES 63 6.1.1 SEPARATION PROCESS 63 6.1.1.1 Solvent Extraction 63 6.1.1.2 Dewaxing 63 6.1.1.3 Hydrofinishing 63 6.2 COMPLEMENTARY TECHNOLOGIES 64 6.2.1 CONVERSION PROCESS 64 6.2.1.1 Hydrocracking 64 6.2.1.2 Hydroisomerization 64 6.2.1.3 Hydrotreating 64 6.3 TECHNOLOGY/PRODUCT ROADMAP 64 6.3.1 SHORT-TERM (2025–2027) | PROCESS OPTIMIZATION & ENVIRONMENTAL COMPLIANCE 64 6.3.2 MID-TERM (2027–2030) | INNOVATION & SUSTAINABLE TRANSFORMATION 65 6.3.3 LONG-TERM (2030–2035+) | CIRCULARITY, DECARBONIZATION, AND NEW APPLICATIONS 66   6.4 PATENT ANALYSIS 66 6.4.1 METHODOLOGY 66 6.5 FUTURE APPLICATIONS 69 6.5.1 SMART & CONNECTED MACHINERY LUBRICANTS: AI-ENABLED PREDICTIVE MAINTENANCE 69 6.5.2 BIO-BASED & CARBON-NEUTRAL BASE OILS: SUSTAINABLE FEEDSTOCK TRANSITION 70 6.5.3 HIGH-PERFORMANCE ELECTRIC VEHICLE FLUIDS: ADVANCED COOLING & LUBRICATION FOR ELECTRIC MOBILITY 70 6.5.4 PRECISION MANUFACTURING & ROBOTICS LUBRICANTS: ULTRA-CLEAN, HIGH-PERFORMANCE OILS 70 6.5.5 CIRCULAR RE-REFINING SYSTEMS: CLOSED-LOOP SUSTAINABILITY IN LUBRICANTS 71 6.6 IMPACT OF GENERATIVE AI ON BASE OIL MARKET 71 6.6.1 INTRODUCTION 71 6.6.1.1 Operational efficiency and cost structure optimization 71 6.6.1.1.1 Refinery and base oil production optimization 71 6.6.1.1.2 Predictive maintenance and asset management 71 6.6.1.1.3 Supply chain, logistics, and demand forecasting 72 6.6.1.2 Digital simulation and scenario planning 72 6.6.1.3 Innovation in formulation and product development 72 6.6.1.4 Market analytics, pricing intelligence, and commercial strategy 72 6.6.1.5 Challenges and adoption barriers 72 7 SUSTAINABILITY AND REGULATORY LANDSCAPE 73 7.1 REGULATORY LANDSCAPE 73 7.1.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 73 7.1.2 INDUSTRY STANDARDS 75 7.2 SUSTAINABILITY INITIATIVES 76 7.2.1 CARBON IMPACT AND ECO-APPLICATIONS OF BASE OIL 76 7.2.1.1 Carbon impact reduction 76 7.2.1.2 Eco-applications 77 7.3 SUSTAINABILITY IMPACT AND REGULATORY POLICY INITIATIVES 77 7.4 CERTIFICATIONS, LABELING, AND ECO-STANDARDS 78 8 CUSTOMER LANDSCAPE & BUYER BEHAVIOR 80 8.1 DECISION-MAKING PROCESS 80 8.2 KEY STAKEHOLDERS AND BUYING CRITERIA 81 8.2.1 KEY STAKEHOLDERS IN BUYING PROCESS 81 8.2.2 BUYING CRITERIA 82 8.3 ADOPTION BARRIERS & INTERNAL CHALLENGES 83 8.4 UNMET NEEDS IN VARIOUS END-USE INDUSTRIES 84   8.5 MARKET PROFITABILITY 85 8.5.1 REVENUE POTENTIAL 85 8.5.2 COST DYNAMICS 85 8.5.3 MARGIN OPPORTUNITIES IN KEY APPLICATIONS 86 9 BASE OIL MARKET, BY GROUP 87 9.1 INTRODUCTION 88 9.2 GROUP I 90 9.2.1 HIGH SULFUR CONTENT TO AFFECT DEMAND 90 9.3 GROUP II 91 9.3.1 RISING DEMAND FOR CLEANER AND COST-EFFICIENT LUBRICANTS TO DRIVE DEMAND 91 9.4 GROUP III 93 9.4.1 SHIFT TOWARD FUEL-EFFICIENT AND LOW-VISCOSITY LUBRICANTS TO DRIVE DEMAND 93 9.5 GROUP IV 95 9.5.1 HIGH VISCOSITY INDEX AND EXTREME TEMPERATURE PERFORMANCE TO DRIVE DEMAND 95 9.6 GROUP V 96 9.6.1 INCREASING USE OF SPECIALTY AND BIO-BASED FORMULATIONS TO DRIVE DEMAND 96 10 BASE OIL MARKET, BY APPLICATION 99 10.1 INTRODUCTION 100 10.2 AUTOMOTIVE OIL 102 10.2.1 INCREASING PRODUCTION OF VEHICLES IN EMERGING ECONOMIES TO DRIVE DEMAND 102 10.3 INDUSTRIAL OIL 103 10.3.1 GROWING ELECTRICITY GENERATION CAPACITY TO DRIVE DEMAND FOR TURBINE AND TRANSFORMER OILS 103 10.4 METALWORKING FLUID 105 10.4.1 GROWING METAL & MINING INDUSTRY TO DRIVE DEMAND 105 10.5 HYDRAULIC OIL 107 10.5.1 RAPID URBANIZATION AND LARGE-SCALE INFRASTRUCTURE PROJECTS ACROSS REGIONS TO DRIVE DEMAND 107 10.6 GREASE 108 10.6.1 APPLICATIONS WHERE LONG SERVICE LIFE, RESISTANCE TO WASHOUT, AND PROTECTION UNDER HIGH LOADS ARE CRITICAL TO DRIVE DEMAND 108 10.7 OTHERS 110 11 BASE OIL MARKET, BY TYPE 112 11.1 INTRODUCTION 112 11.2 MINERAL OIL 112   11.3 SYNTHETIC OIL 112 11.4 BIO-BASED OIL 112 12 BASE OIL MARKET, BY SALES CHANNEL 113 12.1 INTRODUCTION 113 12.2 OEM 113 12.3 AFTERMARKET 113 13 RE-REFINED BASE OIL MARKET 114 13.1 INTRODUCTION 114 13.2 TECHNOLOGY FOR RE-REFINED BASE OIL 114 13.3 ANALYSIS 115 13.3.1 GLOBAL 115 13.3.2 NORTH AMERICA 115 13.3.3 EUROPE 115 14 BASE OIL MARKET, BY REGION 116 14.1 INTRODUCTION 117 14.2 ASIA PACIFIC 119 14.2.1 CHINA 124 14.2.1.1 Strong automobile production, expanding industrial base, and large-scale infrastructure development to drive growth 124 14.2.2 JAPAN 127 14.2.2.1 Growing demand from automotive sector to drive growth 127 14.2.3 INDIA 130 14.2.3.1 Growth in steel production, metal fabrication, and heavy engineering to drive growth 130 14.2.4 SOUTH KOREA 133 14.2.4.1 Investments in high-value manufacturing and export-oriented industries to drive growth 133 14.2.5 INDONESIA 136 14.2.5.1 Growth in mining, construction, and metal processing industries to fuel demand 136 14.2.6 THAILAND 139 14.2.6.1 Export-oriented manufacturing base to drive growth 139 14.2.7 REST OF ASIA PACIFIC 142 14.3 EUROPE 145 14.3.1 RUSSIA 150 14.3.1.1 Resilient demand and integrated refining strength to drive market 150 14.3.2 GERMANY 153 14.3.2.1 Advanced refining, sustainability focus, and industrial strength to drive market 153   14.3.3 FRANCE 156 14.3.3.1 Regulatory alignment, industrial demand, and quality shift to boost market 156 14.3.4 ITALY 159 14.3.4.1 Industrial demand, import dependence, and sustainability trends to drive market 159 14.3.5 UK 162 14.3.5.1 Well-established lubricant blending and distribution network to drive market 162 14.3.6 SPAIN 165 14.3.6.1 Growth of lubricant consumption to drive market 165 14.3.7 REST OF EUROPE 168 14.4 NORTH AMERICA 171 14.4.1 US 175 14.4.1.1 Strong demand from automotive and industrial lubricant applications to propel demand 175 14.4.2 CANADA 178 14.4.2.1 Expansion of manufacturing and industrial sectors to drive market 178 14.4.3 MEXICO 181 14.4.3.1 Expanding manufacturing activity to drive demand 181 14.5 MIDDLE EAST & AFRICA 184 14.5.1 GCC COUNTRIES 188 14.5.1.1 Saudi Arabia 188 14.5.1.1.1 Focus on higher-performance and synthetic lubricants to drive growth 188 14.5.1.2 Rest of GCC 191 14.5.2 TURKEY 194 14.5.2.1 Growth in construction, logistics, and energy-related activities to drive demand 194 14.5.3 IRAN 197 14.5.3.1 Growing activity across oil & gas, construction, and mining industries to drive demand 197 14.5.4 REST OF MIDDLE EAST & AFRICA 200 14.6 SOUTH AMERICA 203 14.6.1 BRAZIL 207 14.6.1.1 Import-driven supply and automotive sector growth to drive market 207 14.6.2 COLOMBIA 210 14.6.2.1 Growth in industrial applications, including hydraulic fluids, metalworking oils, to drive demand 210 14.6.3 ARGENTINA 213 14.6.3.1 Growth of automotive and industrial activity and upgrades in lubricant quality to drive market 213 14.6.4 REST OF SOUTH AMERICA 216   15 COMPETITIVE LANDSCAPE 220 15.1 INTRODUCTION 220 15.2 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN 220 15.3 REVENUE ANALYSIS, 2024 221 15.3.1 KEY PLAYERS’ REVENUE ANALYSIS 222 15.4 MARKET RANKING AND MARKET SHARE ANALYSIS, 2024 222 15.4.1 RANKING OF KEY MARKET PLAYERS 222 15.4.2 MARKET SHARE ANALYSIS 223 15.5 BRAND/PRODUCT COMPARISON 226 15.5.1 CHEVRON CORPORATION 227 15.5.2 EXXONMOBIL 227 15.5.3 SAUDI ARABIAN OIL CO. (SAUDI ARAMCO) 227 15.5.4 CHINA PETROCHEMICAL CORPORATION (SINOPEC) 227 15.5.5 PETROCHINA COMPANY LIMITED 227 15.6 COMPANY VALUATION AND FINANCIAL METRICS 228 15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 229 15.7.1 STARS 229 15.7.2 EMERGING LEADERS 229 15.7.3 PERVASIVE PLAYERS 230 15.7.4 PARTICIPANTS 230 15.8 COMPANY FOOTPRINT: KEY PLAYERS, 2024 231 15.8.1 COMPANY FOOTPRINT 231 15.8.2 REGION FOOTPRINT 232 15.8.3 TYPE FOOTPRINT 233 15.8.4 GROUP FOOTPRINT 234 15.8.5 APPLICATION FOOTPRINT 235 15.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 236 15.9.1 PROGRESSIVE COMPANIES 236 15.9.2 RESPONSIVE COMPANIES 236 15.9.3 DYNAMIC COMPANIES 236 15.9.4 STARTING BLOCKS 236 15.10 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 238 15.10.1 LIST OF KEY STARTUPS/SMES 238 15.10.2 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 239 15.11 COMPETITIVE SCENARIO 240 15.11.1 DEALS 240 16 COMPANY PROFILES 241 16.1 MAJOR PLAYERS 241 16.1.1 CHEVRON CORPORATION 241 16.1.1.1 Business overview 241 16.1.1.2 Products offered 242 16.1.1.3 Recent developments 243 16.1.1.3.1 Deals 243 16.1.1.4 MnM view 243 16.1.1.4.1 Right to win 243 16.1.1.4.2 Strategic choices 243 16.1.1.4.3 Weaknesses and competitive threats 243 16.1.2 EXXONMOBIL 244 16.1.2.1 Business overview 244 16.1.2.2 Products offered 245 16.1.2.3 Recent developments 245 16.1.2.3.1 Deals 245 16.1.2.4 MnM view 245 16.1.2.4.1 Right to win 245 16.1.2.4.2 Strategic choices 246 16.1.2.4.3 Weaknesses and competitive threats 246 16.1.3 S-OIL CORPORATION 247 16.1.3.1 Business overview 247 16.1.3.2 Products offered 248 16.1.3.3 MnM view 248 16.1.3.3.1 Right to win 248 16.1.3.3.2 Strategic choices 248 16.1.3.3.3 Weaknesses and competitive threats 248 16.1.4 MOTIVA ENTERPRISES LLC 249 16.1.4.1 Business overview 249 16.1.4.2 Products offered 249 16.1.4.3 MnM view 249 16.1.4.3.1 Right to win 249 16.1.4.3.2 Strategic choices 250 16.1.4.3.3 Weaknesses and competitive threats 250 16.1.5 SK ENMOVE 251 16.1.5.1 Business overview 251 16.1.5.2 Products offered 252 16.1.5.3 MnM view 252 16.1.5.3.1 Right to win 252 16.1.5.3.2 Strategic choices 252 16.1.5.3.3 Weaknesses and competitive threats 252 16.1.6 SAUDI ARABIAN OIL CO. 253 16.1.6.1 Business overview 253 16.1.6.2 Products offered 254 16.1.6.3 Recent developments 255 16.1.6.3.1 Deals 255   16.1.7 ENEOS 256 16.1.7.1 Business overview 256 16.1.7.2 Products offered 257 16.1.8 SHANDONG QINGYUAN GROUP CO., LTD. 258 16.1.8.1 Business overview 258 16.1.8.2 Products offered 258 16.1.9 HINDUSTAN PETROLEUM CORPORATION LIMITED 259 16.1.9.1 Business overview 259 16.1.9.2 Products offered 260 16.1.10 SHELL 261 16.1.10.1 Business overview 261 16.1.10.2 Products offered 262 16.1.11 AVISTA OIL DEUTSCHLAND GMBH 263 16.1.11.1 Business overview 263 16.1.11.2 Products offered 263 16.1.12 NYNAS AB 264 16.1.12.1 Business overview 264 16.1.12.2 Products offered 265 16.1.13 REPSOL 266 16.1.13.1 Business overview 266 16.1.13.2 Products offered 267 16.1.14 ERGON, INC. 268 16.1.14.1 Business overview 268 16.1.14.2 Products offered 268 16.1.14.3 Recent developments 269 16.1.14.3.1 Deals 269 16.1.15 CALUMET, INC. 270 16.1.15.1 Business overview 270 16.1.15.2 Products offered 271 16.1.16 CHINA PETROCHEMICAL CORPORATION/SINOPEC GROUP 272 16.1.16.1 Business overview 272 16.1.16.2 Products offered 273 16.1.17 ADNOC 274 16.1.17.1 Business overview 274 16.1.17.2 Products offered 275 16.1.18 PHILLIPS 66 COMPANY 276 16.1.18.1 Business overview 276 16.1.18.2 Products offered 277 16.1.19 PETRONAS LUBRICANTS INTERNATIONAL 278 16.1.19.1 Business overview 278 16.1.19.2 Products offered 279   16.1.20 ORLEN 280 16.1.20.1 Business overview 280 16.1.20.2 Products offered 281 16.1.21 GS CALTEX CORPORATION 282 16.1.21.1 Business overview 282 16.1.21.2 Products offered 283 16.1.22 H&R GROUP 284 16.1.22.1 Business overview 284 16.1.22.2 Products offered 285 16.1.23 PETROCHINA COMPANY LIMITED 286 16.1.23.1 Business overview 286 16.1.23.2 Products offered 287 16.1.24 PT PERTAMINA (PERSERO) 288 16.1.24.1 Business overview 288 16.1.24.2 Products offered 289 16.1.25 FUCHS 290 16.1.25.1 Business overview 290 16.1.25.2 Products offered 291 16.1.26 BAKER HUGHES COMPANY 292 16.1.26.1 Business overview 292 16.1.26.2 Products offered 293 16.2 OTHER PLAYERS 294 16.2.1 FORMOSA PETROCHEMICAL CORPORATION 294 16.2.2 HF SINCLAIR CORPORATION 295 16.2.3 PBF ENERGY 296 16.2.4 ROSNEFT 297 16.2.5 TÜPRAŞ 297 16.2.6 CROSS OIL 298 16.2.7 ENILIVE S.P.A. 298 16.2.8 HAINAN HANDI SUNSHINE PETROCHEMICAL CO., LTD. 299 17 RESEARCH METHODOLOGY 300 17.1 RESEARCH DATA 300 17.1.1 SECONDARY DATA 301 17.1.1.1 List of key secondary sources 301 17.1.1.2 Key data from secondary sources 301 17.1.2 PRIMARY DATA 302 17.1.2.1 Key data from primary sources 302 17.1.2.2 List of primary interview participants (demand and supply sides) 302 17.1.2.3 Key industry insights 303 17.1.2.4 Breakdown of interviews with experts 303   17.2 DEMAND-SIDE ANALYSIS 304 17.3 MARKET SIZE ESTIMATION 304 17.3.1 BOTTOM-UP APPROACH 305 17.3.2 TOP-DOWN APPROACH 305 17.3.3 SUPPLY-SIDE ANALYSIS OF BASE OIL MARKET 307 17.3.3.1 Calculations for supply-side analysis 307 17.4 GROWTH FORECAST 307 17.5 DATA TRIANGULATION 308 17.6 FACTOR ANALYSIS 309 17.7 RESEARCH ASSUMPTIONS 309 17.8 RESEARCH LIMITATIONS 310 17.9 RISK ASSESSMENT 310 18 APPENDIX 311 18.1 DISCUSSION GUIDE 311 18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 313 18.3 CUSTOMIZATION OPTIONS 315 18.4 RELATED REPORTS 315 18.5 AUTHOR DETAILS 316

TABLE 1 BASE OIL MARKET: IMPACT OF PORTER’S FIVE FORCES 48 TABLE 2 REAL GDP GROWTH (ANNUAL PERCENTAGE CHANGE), BY KEY COUNTRIES, 2022–2024 (%) 50 TABLE 3 UNEMPLOYMENT RATE, BY KEY COUNTRIES, 2022–2024 (%) 50 TABLE 4 INFLATION RATE, AVERAGE CONSUMER PRICES, BY KEY COUNTRIES, 2022–2024 (%) 51 TABLE 5 FOREIGN DIRECT INVESTMENT, BY REGION, 2022 VS. 2023 (USD BILLION) 51 TABLE 6 BASE OIL MARKET: ROLE OF COMPANIES IN ECOSYSTEM 53 TABLE 7 AVERAGE SELLING PRICE OF BASE OIL, BY REGION, 2022–2024 (USD/TON) 55 TABLE 8 AVERAGE SELLING PRICE OF BASE OIL, BY KEY PLAYERS, 2024 (USD/TON) 55 TABLE 9 IMPORT DATA FOR HS CODE 2709 PETROLEUM OILS AND OILS OBTAINED FROM BITUMINOUS MINERALS, CRUDE, BY KEY COUNTRIES, 2021–2024 (USD THOUSAND) 56 TABLE 10 EXPORT DATA FOR HS CODE 2709 PETROLEUM OILS AND OILS OBTAINED FROM BITUMINOUS MINERALS, CRUDE, BY KEY COUNTRIES, 2021–2024 (USD THOUSAND) 57 TABLE 11 BASE OIL MARKET: KEY CONFERENCES AND EVENTS, 2026 58 TABLE 12 BASE OIL MARKET: LIST OF MAJOR PATENTS, 2014–2024 67 TABLE 13 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 73 TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74 TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75 TABLE 16 GLOBAL STANDARDS IN BASE OIL MARKET 75 TABLE 17 CERTIFICATIONS, LABELING, AND ECO-STANDARDS IN BASE OIL MARKET 78 TABLE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%) 81 TABLE 19 KEY BUYING CRITERIA, BY APPLICATION 82 TABLE 20 BASE OIL MARKET: UNMET NEEDS IN KEY END-USE INDUSTRIES 84 TABLE 21 BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 88 TABLE 22 BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 89 TABLE 23 BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 89 TABLE 24 BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 89 TABLE 25 GROUP I: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 90 TABLE 26 GROUP I: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 90 TABLE 27 GROUP I: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 91 TABLE 28 GROUP I: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 91 TABLE 29 GROUP II: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 92 TABLE 30 GROUP II: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 92 TABLE 31 GROUP II: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 92 TABLE 32 GROUP II: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 93 TABLE 33 GROUP III: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 93 TABLE 34 GROUP III: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 94 TABLE 35 GROUP III: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 94 TABLE 36 GROUP III: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 94 TABLE 37 GROUP IV: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 95 TABLE 38 GROUP IV: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 95 TABLE 39 GROUP IV: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 96 TABLE 40 GROUP IV: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 96 TABLE 41 GROUP V: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 97 TABLE 42 GROUP V: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 97 TABLE 43 GROUP V: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 97 TABLE 44 GROUP V: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 98 TABLE 45 BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 100 TABLE 46 BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 101 TABLE 47 BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 101 TABLE 48 BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 101 TABLE 49 AUTOMOTIVE OIL: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 102 TABLE 50 AUTOMOTIVE OIL: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 102 TABLE 51 AUTOMOTIVE OIL: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 103 TABLE 52 AUTOMOTIVE OIL: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 103 TABLE 53 INDUSTRIAL OIL: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 104 TABLE 54 INDUSTRIAL OIL: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 104 TABLE 55 INDUSTRIAL OIL: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 104 TABLE 56 INDUSTRIAL OIL: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 105 TABLE 57 METALWORKING FLUID: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 105 TABLE 58 METALWORKING FLUID: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 106 TABLE 59 METALWORKING FLUID: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 106 TABLE 60 METALWORKING FLUID: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 106 TABLE 61 HYDRAULIC OIL: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 107 TABLE 62 HYDRAULIC OIL: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 107 TABLE 63 HYDRAULIC OIL: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 108 TABLE 64 HYDRAULIC OIL: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 108 TABLE 65 GREASE: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 109 TABLE 66 GREASE: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 109 TABLE 67 GREASE: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 109 TABLE 68 GREASE: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 110 TABLE 69 OTHERS: BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 110 TABLE 70 OTHERS: BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 111 TABLE 71 OTHERS: BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 111 TABLE 72 OTHERS: BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 111 TABLE 73 BASE OIL MARKET, BY REGION, 2021–2024 (KILOTON) 117 TABLE 74 BASE OIL MARKET, BY REGION, 2025–2030 (KILOTON) 118 TABLE 75 BASE OIL MARKET, BY REGION, 2021–2024 (USD MILLION) 118 TABLE 76 BASE OIL MARKET, BY REGION, 2025–2030 (USD MILLION) 118 TABLE 77 ASIA PACIFIC: BASE OIL MARKET, BY COUNTRY, 2021–2024 (KILOTON) 120 TABLE 78 ASIA PACIFIC: BASE OIL MARKET, BY COUNTRY, 2025–2030 (KILOTON) 120 TABLE 79 ASIA PACIFIC: BASE OIL MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 120 TABLE 80 ASIA PACIFIC: BASE OIL MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 121 TABLE 81 ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 121 TABLE 82 ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 121 TABLE 83 ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 122 TABLE 84 ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 122 TABLE 85 ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 122 TABLE 86 ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 123 TABLE 87 ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 123 TABLE 88 ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 123 TABLE 89 CHINA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 124 TABLE 90 CHINA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 124 TABLE 91 CHINA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 125 TABLE 92 CHINA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 125 TABLE 93 CHINA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 125 TABLE 94 CHINA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 126 TABLE 95 CHINA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 126 TABLE 96 CHINA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 126 TABLE 97 JAPAN: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 127 TABLE 98 JAPAN: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 127 TABLE 99 JAPAN: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 128 TABLE 100 JAPAN: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 128 TABLE 101 JAPAN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 128 TABLE 102 JAPAN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 129 TABLE 103 JAPAN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 129 TABLE 104 JAPAN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 129 TABLE 105 INDIA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 130 TABLE 106 INDIA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 130 TABLE 107 INDIA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 131 TABLE 108 INDIA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 131 TABLE 109 INDIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 131 TABLE 110 INDIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 132 TABLE 111 INDIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 132 TABLE 112 INDIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 132 TABLE 113 SOUTH KOREA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 133 TABLE 114 SOUTH KOREA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 133 TABLE 115 SOUTH KOREA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 134 TABLE 116 SOUTH KOREA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 134 TABLE 117 SOUTH KOREA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 134 TABLE 118 SOUTH KOREA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 135 TABLE 119 SOUTH KOREA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 135 TABLE 120 SOUTH KOREA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 135 TABLE 121 INDONESIA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 136 TABLE 122 INDONESIA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 136 TABLE 123 INDONESIA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 137 TABLE 124 INDONESIA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 137 TABLE 125 INDONESIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 137 TABLE 126 INDONESIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 138 TABLE 127 INDONESIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 138 TABLE 128 INDONESIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 138 TABLE 129 THAILAND: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 139 TABLE 130 THAILAND: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 139 TABLE 131 THAILAND: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 140 TABLE 132 THAILAND: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 140 TABLE 133 THAILAND: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 140 TABLE 134 THAILAND: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 141 TABLE 135 THAILAND: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 141 TABLE 136 THAILAND: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 141 TABLE 137 REST OF ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 142 TABLE 138 REST OF ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 142 TABLE 139 REST OF ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 143 TABLE 140 REST OF ASIA PACIFIC: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 143 TABLE 141 REST OF ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 143 TABLE 142 REST OF ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 144 TABLE 143 REST OF ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 144 TABLE 144 REST OF ASIA PACIFIC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 144 TABLE 145 EUROPE: BASE OIL MARKET, BY COUNTRY, 2021–2024 (KILOTON) 146 TABLE 146 EUROPE: BASE OIL MARKET, BY COUNTRY, 2025–2030 (KILOTON) 146 TABLE 147 EUROPE: BASE OIL MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 146 TABLE 148 EUROPE: BASE OIL MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 147 TABLE 149 EUROPE: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 147 TABLE 150 EUROPE: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 147 TABLE 151 EUROPE: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 148 TABLE 152 EUROPE: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 148 TABLE 153 EUROPE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 148 TABLE 154 EUROPE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 149 TABLE 155 EUROPE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 149 TABLE 156 EUROPE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 149 TABLE 157 RUSSIA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 150 TABLE 158 RUSSIA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 150 TABLE 159 RUSSIA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 151 TABLE 160 RUSSIA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 151 TABLE 161 RUSSIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 151 TABLE 162 RUSSIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 152 TABLE 163 RUSSIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 152 TABLE 164 RUSSIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 152 TABLE 165 GERMANY: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 153 TABLE 166 GERMANY: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 153 TABLE 167 GERMANY: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 154 TABLE 168 GERMANY: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 154 TABLE 169 GERMANY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 154 TABLE 170 GERMANY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 155 TABLE 171 GERMANY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 155 TABLE 172 GERMANY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 155 TABLE 173 FRANCE: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 156 TABLE 174 FRANCE: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 156 TABLE 175 FRANCE: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 157 TABLE 176 FRANCE: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 157 TABLE 177 FRANCE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 157 TABLE 178 FRANCE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 158 TABLE 179 FRANCE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 158 TABLE 180 FRANCE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 158 TABLE 181 ITALY: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 159 TABLE 182 ITALY: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 159 TABLE 183 ITALY: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 160 TABLE 184 ITALY: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 160 TABLE 185 ITALY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 160 TABLE 186 ITALY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 161 TABLE 187 ITALY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 161 TABLE 188 ITALY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 161 TABLE 189 UK: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 162 TABLE 190 UK: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 162 TABLE 191 UK: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 163 TABLE 192 UK: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 163 TABLE 193 UK: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 163 TABLE 194 UK: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 164 TABLE 195 UK: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 164 TABLE 196 UK: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 164 TABLE 197 SPAIN: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 165 TABLE 198 SPAIN: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 165 TABLE 199 SPAIN: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 166 TABLE 200 SPAIN: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 166 TABLE 201 SPAIN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 166 TABLE 202 SPAIN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 167 TABLE 203 SPAIN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 167 TABLE 204 SPAIN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 167 TABLE 205 REST OF EUROPE: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 168 TABLE 206 REST OF EUROPE: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 168 TABLE 207 REST OF EUROPE: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 169 TABLE 208 REST OF EUROPE: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 169 TABLE 209 REST OF EUROPE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 169 TABLE 210 REST OF EUROPE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 170 TABLE 211 REST OF EUROPE: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 170 TABLE 212 REST OF EUROPE: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 170 TABLE 213 NORTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (KILOTON) 171 TABLE 214 NORTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (KILOTON) 172 TABLE 215 NORTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 172 TABLE 216 NORTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 172 TABLE 217 NORTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 172 TABLE 218 NORTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 173 TABLE 219 NORTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 173 TABLE 220 NORTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 173 TABLE 221 NORTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 174 TABLE 222 NORTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 174 TABLE 223 NORTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 174 TABLE 224 NORTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 175 TABLE 225 US: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 175 TABLE 226 US: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 176 TABLE 227 US: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 176 TABLE 228 US: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 176 TABLE 229 US: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 177 TABLE 230 US: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 177 TABLE 231 US: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 177 TABLE 232 US: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 178 TABLE 233 CANADA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 178 TABLE 234 CANADA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 179 TABLE 235 CANADA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 179 TABLE 236 CANADA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 179 TABLE 237 CANADA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 180 TABLE 238 CANADA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 180 TABLE 239 CANADA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 180 TABLE 240 CANADA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 181 TABLE 241 MEXICO: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 181 TABLE 242 MEXICO: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 182 TABLE 243 MEXICO: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 182 TABLE 244 MEXICO: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 182 TABLE 245 MEXICO: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 183 TABLE 246 MEXICO: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 183 TABLE 247 MEXICO: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 183 TABLE 248 MEXICO: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 184 TABLE 249 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (KILOTON) 184 TABLE 250 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (KILOTON) 185 TABLE 251 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 185 TABLE 252 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 185 TABLE 253 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 186 TABLE 254 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 186 TABLE 255 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 186 TABLE 256 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 187 TABLE 257 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 187 TABLE 258 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 187 TABLE 259 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 188 TABLE 260 MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 188 TABLE 261 SAUDI ARABIA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 189 TABLE 262 SAUDI ARABIA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 189 TABLE 263 SAUDI ARABIA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 189 TABLE 264 SAUDI ARABIA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 190 TABLE 265 SAUDI ARABIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 190 TABLE 266 SAUDI ARABIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 190 TABLE 267 SAUDI ARABIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 191 TABLE 268 SAUDI ARABIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 191 TABLE 269 REST OF GCC: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 192 TABLE 270 REST OF GCC: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 192 TABLE 271 REST OF GCC: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 192 TABLE 272 REST OF GCC: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 193 TABLE 273 REST OF GCC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 193 TABLE 274 REST OF GCC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 193 TABLE 275 REST OF GCC: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 194 TABLE 276 REST OF GCC: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 194 TABLE 277 TURKEY: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 195 TABLE 278 TURKEY: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 195 TABLE 279 TURKEY: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 195 TABLE 280 TURKEY: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 196 TABLE 281 TURKEY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 196 TABLE 282 TURKEY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 196 TABLE 283 TURKEY: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 197 TABLE 284 TURKEY: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 197 TABLE 285 IRAN: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 198 TABLE 286 IRAN: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 198 TABLE 287 IRAN: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 198 TABLE 288 IRAN: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 199 TABLE 289 IRAN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 199 TABLE 290 IRAN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 199 TABLE 291 IRAN: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 200 TABLE 292 IRAN: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 200 TABLE 293 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 201 TABLE 294 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 201 TABLE 295 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 201 TABLE 296 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 202 TABLE 297 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 202 TABLE 298 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 202 TABLE 299 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 203 TABLE 300 REST OF MIDDLE EAST & AFRICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 203 TABLE 301 SOUTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (KILOTON) 204 TABLE 302 SOUTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (KILOTON) 204 TABLE 303 SOUTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 204 TABLE 304 SOUTH AMERICA: BASE OIL MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 204 TABLE 305 SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 205 TABLE 306 SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 205 TABLE 307 SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 205 TABLE 308 SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 206 TABLE 309 SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 206 TABLE 310 SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 206 TABLE 311 SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 207 TABLE 312 SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 207 TABLE 313 BRAZIL: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 208 TABLE 314 BRAZIL: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 208 TABLE 315 BRAZIL: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 208 TABLE 316 BRAZIL: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 209 TABLE 317 BRAZIL: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 209 TABLE 318 BRAZIL: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 209 TABLE 319 BRAZIL: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 210 TABLE 320 BRAZIL: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 210 TABLE 321 COLOMBIA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 211 TABLE 322 COLOMBIA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 211 TABLE 323 COLOMBIA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 211 TABLE 324 COLOMBIA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 212 TABLE 325 COLOMBIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 212 TABLE 326 COLOMBIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 212 TABLE 327 COLOMBIA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 213 TABLE 328 COLOMBIA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 213 TABLE 329 ARGENTINA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 214 TABLE 330 ARGENTINA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 214 TABLE 331 ARGENTINA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 214 TABLE 332 ARGENTINA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 215 TABLE 333 ARGENTINA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 215 TABLE 334 ARGENTINA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 215 TABLE 335 ARGENTINA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 216 TABLE 336 ARGENTINA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 216 TABLE 337 REST OF SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (KILOTON) 217 TABLE 338 REST OF SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (KILOTON) 217 TABLE 339 REST OF SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2021–2024 (USD MILLION) 217 TABLE 340 REST OF SOUTH AMERICA: BASE OIL MARKET, BY GROUP, 2025–2030 (USD MILLION) 218 TABLE 341 REST OF SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (KILOTON) 218 TABLE 342 REST OF SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (KILOTON) 218 TABLE 343 REST OF SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2021–2024 (USD MILLION) 219 TABLE 344 REST OF SOUTH AMERICA: BASE OIL MARKET, BY APPLICATION, 2025–2030 (USD MILLION) 219 TABLE 345 BASE OIL MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2025 220 TABLE 346 BASE OIL MARKET: DEGREE OF COMPETITION, 2024 223 TABLE 347 BASE OIL MARKET: REGION FOOTPRINT 232 TABLE 348 BASE OIL MARKET: TYPE FOOTPRINT 233 TABLE 349 BASE OIL MARKET: GROUP FOOTPRINT 234 TABLE 350 BASE OIL MARKET: APPLICATION FOOTPRINT 235 TABLE 351 BASE OIL MARKET: LIST OF KEY STARTUPS/SMES 238 TABLE 352 BASE OIL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 239 TABLE 353 BASE OIL MARKET: DEALS, JANUARY 2020–DECEMBER 2025 240 TABLE 354 CHEVRON CORPORATION: COMPANY OVERVIEW 241 TABLE 355 CHEVRON CORPORATION: PRODUCTS OFFERED 242 TABLE 356 CHEVRON CORPORATION: DEALS 243 TABLE 357 EXXONMOBIL: COMPANY OVERVIEW 244 TABLE 358 EXXONMOBIL: PRODUCTS OFFERED 245 TABLE 359 EXXONMOBIL: DEALS 245 TABLE 360 S-OIL CORPORATION: COMPANY OVERVIEW 247 TABLE 361 S-OIL CORPORATION: PRODUCTS OFFERED 248 TABLE 362 MOTIVA ENTERPRISES LLC: COMPANY OVERVIEW 249 TABLE 363 MOTIVA ENTERPRISES LLC: PRODUCTS OFFERED 249 TABLE 364 SK ENMOVE: COMPANY OVERVIEW 251 TABLE 365 SK ENMOVE: PRODUCTS OFFERED 252 TABLE 366 SAUDI ARABIAN OIL CO.: COMPANY OVERVIEW 253 TABLE 367 SAUDI ARABIAN OIL CO.: PRODUCTS OFFERED 254 TABLE 368 SAUDI ARABIAN OIL CO.: DEALS 255 TABLE 369 ENEOS: COMPANY OVERVIEW 256 TABLE 370 ENEOS: PRODUCTS OFFERED 257 TABLE 371 SHANDONG QINGYUAN GROUP CO., LTD.: COMPANY OVERVIEW 258 TABLE 372 SHANDONG QINGYUAN GROUP CO., LTD.: PRODUCTS OFFERED 258 TABLE 373 HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY OVERVIEW 259 TABLE 374 HINDUSTAN PETROLEUM CORPORATION LIMITED: PRODUCTS OFFERED 260 TABLE 375 SHELL: COMPANY OVERVIEW 261 TABLE 376 SHELL: PRODUCTS OFFERED 262 TABLE 377 AVISTA OIL DEUTSCHLAND GMBH: COMPANY OVERVIEW 263 TABLE 378 AVISTA OIL DEUTSCHLAND GMBH: PRODUCTS OFFERED 263 TABLE 379 NYNAS AB: COMPANY OVERVIEW 264 TABLE 380 NYNAS AB: PRODUCTS OFFERED 265 TABLE 381 REPSOL: COMPANY OVERVIEW 266 TABLE 382 REPSOL: PRODUCTS OFFERED 267 TABLE 383 ERGON, INC.: COMPANY OVERVIEW 268 TABLE 384 ERGON, INC.: PRODUCTS OFFERED 268 TABLE 385 ERGON, INC.: DEALS 269 TABLE 386 CALUMET, INC.: COMPANY OVERVIEW 270 TABLE 387 CALUMET, INC.: PRODUCTS OFFERED 271 TABLE 388 CHINA PETROCHEMICAL CORPORATION: COMPANY OVERVIEW 272 TABLE 389 CHINA PETROCHEMICAL CORPORATION: PRODUCTS OFFERED 273 TABLE 390 ADNOC: COMPANY OVERVIEW 274 TABLE 391 ADNOC: PRODUCTS OFFERED 275 TABLE 392 PHILLIPS 66 COMPANY: COMPANY OVERVIEW 276 TABLE 393 PHILLIPS 66 COMPANY: PRODUCTS OFFERED 277 TABLE 394 PETRONAS LUBRICANTS INTERNATIONAL: COMPANY OVERVIEW 278 TABLE 395 PETRONAS LUBRICANTS INTERNATIONAL: PRODUCTS OFFERED 279 TABLE 396 ORLEN: COMPANY OVERVIEW 280 TABLE 397 ORLEN: PRODUCTS OFFERED 281 TABLE 398 GS CALTEX CORPORATION: COMPANY OVERVIEW 282 TABLE 399 GS CALTEX CORPORATION: PRODUCTS OFFERED 283 TABLE 400 H&R GROUP: COMPANY OVERVIEW 284 TABLE 401 H&R GROUP: PRODUCTS OFFERED 285 TABLE 402 PETROCHINA COMPANY LIMITED: COMPANY OVERVIEW 286 TABLE 403 PETROCHINA COMPANY LIMITED: PRODUCTS OFFERED 287 TABLE 404 PT PERTAMINA (PERSERO): COMPANY OVERVIEW 288 TABLE 405 PT PERTAMINA (PERSERO): PRODUCTS OFFERED 289 TABLE 406 FUCHS: COMPANY OVERVIEW 290 TABLE 407 FUCHS: PRODUCTS OFFERED 291 TABLE 408 BAKER HUGHES COMPANY: COMPANY OVERVIEW 292 TABLE 409 BAKER HUGHES COMPANY: PRODUCTS OFFERED 293 TABLE 410 FORMOSA PETROCHEMICAL CORPORATION: COMPANY OVERVIEW 294 TABLE 411 HF SINCLAIR CORPORATION: COMPANY OVERVIEW 295 TABLE 412 PBF ENERGY: COMPANY OVERVIEW 296 TABLE 413 ROSNEFT: COMPANY OVERVIEW 297 TABLE 414 TÜPRAŞ: COMPANY OVERVIEW 297 TABLE 415 CROSS OIL: COMPANY OVERVIEW 298 TABLE 416 ENILIVE S.P.A.: COMPANY OVERVIEW 298 TABLE 417 HAINAN HANDI SUNSHINE PETROCHEMICAL CO., LTD.: COMPANY OVERVIEW 299 FIGURE 1 BASE OIL MARKET SEGMENTATION AND REGIONAL SCOPE 30 FIGURE 2 KEY INSIGHTS AND MARKET HIGHLIGHTS 33 FIGURE 3 GLOBAL BASE OIL MARKET, 2025–2030 33 FIGURE 4 MAJOR STRATEGIES ADOPTED BY KEY PLAYERS IN BASE OIL MARKET (2020–2025) 34 FIGURE 5 DISRUPTIVE TRENDS IMPACTING GROWTH OF BASE OIL MARKET 35 FIGURE 6 HIGH-GROWTH SEGMENTS AND EMERGING FRONTIERS IN BASE OIL MARKET, 2024 35 FIGURE 7 ASIA PACIFIC TO REGISTER FASTEST GROWTH DURING FORECAST PERIOD 36 FIGURE 8 HIGH DEMAND IN AUTOMOTIVE OIL APPLICATION TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS 37 FIGURE 9 GROUP II AND ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARES IN 2024 38 FIGURE 10 AUTOMOTIVE OIL SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2024 38 FIGURE 11 MEXICO TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 39 FIGURE 12 BASE OIL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 40 FIGURE 13 CRUDE OIL FIRST PURCHASE PRICES, 2011-2024 42 FIGURE 14 BASE OIL MARKET: PORTER’S FIVE FORCES ANALYSIS 47 FIGURE 15 BASE OIL MARKET: VALUE CHAIN ANALYSIS 52 FIGURE 16 BASE OIL MARKET: ECOSYSTEM MAPPING 53 FIGURE 17 AVERAGE SELLING PRICE TREND OF BASE OIL, BY REGION, 2022–2024 (USD/TON) 54 FIGURE 18 AVERAGE SELLING PRICE TREND OF BASE OIL, BY KEY PLAYERS, 2024 (USD/TON) 55 FIGURE 19 IMPORT SCENARIO FOR HS CODE 2709 PETROLEUM OILS AND OILS OBTAINED FROM BITUMINOUS MINERALS, CRUDE, BY KEY COUNTRIES, 2021–2024 56 FIGURE 20 EXPORT SCENARIO FOR HS CODE 2709 PETROLEUM OILS AND OILS OBTAINED FROM BITUMINOUS MINERALS, CRUDE, BY KEY COUNTRIES, 2021–2024 57 FIGURE 21 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 58 FIGURE 22 BASE OIL MARKET: INVESTMENT AND FUNDING SCENARIO, 2020–2025 59 FIGURE 23 LIST OF MAJOR PATENTS RELATED TO BASE OIL, 2014–2024 67 FIGURE 24 FUTURE APPLICATIONS OF BASE OIL 69 FIGURE 25 BASE OIL MARKET: DECISION-MAKING FACTORS 80 FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 81 FIGURE 27 KEY BUYING CRITERIA, BY APPLICATION 82 FIGURE 28 ADOPTION BARRIERS & INTERNAL CHALLENGES 83 FIGURE 29 GROUP II BASE OILS TO HOLD LARGEST MARKET SHARE IN 2030 88 FIGURE 30 AUTOMOTIVE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2030 100 FIGURE 31 ASIA PACIFIC REGION TO LEAD BASE OIL MARKET IN 2030 117 FIGURE 32 ASIA PACIFIC: BASE OIL MARKET SNAPSHOT 119 FIGURE 33 EUROPE: BASE OIL MARKET SNAPSHOT 145 FIGURE 34 NORTH AMERICA: BASE OIL MARKET SNAPSHOT 171 FIGURE 35 BASE OIL MARKET: REVENUE ANALYSIS OF KEY COMPANIES, 2020–2024 (USD BILLION) 222 FIGURE 36 RANKING OF KEY PLAYERS IN BASE OIL MARKET, 2024 222 FIGURE 37 BASE OIL MARKET SHARE ANALYSIS, 2024 223 FIGURE 38 BASE OIL MARKET: BRAND/PRODUCT COMPARISON 226 FIGURE 39 BASE OIL MARKET: EV/EBITDA 228 FIGURE 40 BASE OIL MARKET: EV/REVENUE 228 FIGURE 41 BASE OIL MARKET: YEAR-TO-DATE (YTD) PRICE, TOTAL RETURN, AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS 229 FIGURE 42 BASE OIL MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 230 FIGURE 43 BASE OIL MARKET: COMPANY FOOTPRINT 231 FIGURE 44 BASE OIL MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 237 FIGURE 45 CHEVRON CORPORATION: COMPANY SNAPSHOT 242 FIGURE 46 EXXONMOBIL: COMPANY SNAPSHOT 244 FIGURE 47 S-OIL CORPORATION: COMPANY SNAPSHOT 247 FIGURE 48 SK ENMOVE: COMPANY SNAPSHOT 251 FIGURE 49 SAUDI ARABIAN OIL CO.: COMPANY SNAPSHOT 254 FIGURE 50 ENEOS: COMPANY SNAPSHOT 256 FIGURE 51 HINDUSTAN PETROLEUM CORPORATION LIMITED: COMPANY SNAPSHOT 260 FIGURE 52 SHELL: COMPANY SNAPSHOT 262 FIGURE 53 NYNAS AB: COMPANY SNAPSHOT 265 FIGURE 54 REPSOL: COMPANY SNAPSHOT 266 FIGURE 55 CALUMET, INC.: COMPANY SNAPSHOT 271 FIGURE 56 CHINA PETROCHEMICAL CORPORATION: COMPANY SNAPSHOT 272 FIGURE 57 ADNOC: COMPANY SNAPSHOT 274 FIGURE 58 PHILLIPS 66 COMPANY: COMPANY SNAPSHOT 277 FIGURE 59 PETRONAS LUBRICANTS INTERNATIONAL: COMPANY SNAPSHOT 279 FIGURE 60 ORLEN: COMPANY SNAPSHOT 281 FIGURE 61 GS CALTEX CORPORATION: COMPANY SNAPSHOT 283 FIGURE 62 H&R GROUP: COMPANY SNAPSHOT 285 FIGURE 63 PETROCHINA COMPANY LIMITED: COMPANY SNAPSHOT 287 FIGURE 64 PT PERTAMINA (PERSERO): COMPANY SNAPSHOT 289 FIGURE 65 FUCHS: COMPANY SNAPSHOT 291 FIGURE 66 BAKER HUGHES COMPANY: COMPANY SNAPSHOT 293 FIGURE 67 BASE OIL MARKET: RESEARCH DESIGN 300 FIGURE 68 MAIN MATRIX CONSIDERED TO ASSESS DEMAND FOR BASE OILS 304 FIGURE 69 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 305 FIGURE 70 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 305 FIGURE 71 METHODOLOGY USED FOR SUPPLY-SIDE SIZING OF BASE OIL MARKET 306 FIGURE 72 BASE OIL MARKET: DATA TRIANGULATION 308