Dublin, Feb. 18, 2026 (GLOBE NEWSWIRE) — The “Base Oil Market by Group, Application, and Region – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The base oil market is projected to grow from USD 40.29 billion in 2025 to USD 46.59 billion by 2030, at a CAGR of 2.9%
The report is expected to help market leaders/new entrants by providing them with the closest approximations of revenue numbers for the base oil market and its segments. This report is also expected to help stakeholders gain a deeper understanding of the market’s competitive landscape, acquire valuable insights to enhance their business positions, and develop effective go-to-market strategies. It will also enable stakeholders to understand the market’s pulse and provide information on key market drivers, restraints, challenges, and opportunities.
Leading players operating in the base oil market include Exxon Mobil Corporation (US), Saudi Arabian Oil Co. (Saudi Arabia), SK Enmove (South Korea), China Petrochemical Corporation (China), PetroChina Company Limited (China), and others. These key players are significant contributors to the base oil market. These players have adopted various strategies, including agreements, joint ventures, and expansions, to increase their market share and business revenue.
The market is primarily influenced by the increasing demand for lubricants across several sectors, including automotive, industrial, marine, and power generation. This has been further supported by rising vehicle ownership, industrial expansion, and infrastructure development, especially in the case of emerging economies.
The need for high-quality lubrication oils in vehicles and the strict need for adherence to strict emission limits also drives growth. Additionally, the base oil market is providing tremendous growth opportunities for oil manufacturers with the increasing production of premium cars, especially in Asia Pacific.
This is further driving the demand for premium and synthetic oils and advanced refining technologies like hydrocracking and gas-to-liquids (GTL). Moreover, long-term growth opportunities offered by the market to manufacturers, because of upcoming base oil applications in the electric vehicle fluids sector, metalworking, and specialty industrial lubricants areas, are further driving the growth of the market.
By group, the Group III segment is projected to grow at the highest rate, in terms of value, during the forecast period.
The Group III segment is projected to achieve the highest growth rate during the forecast period. This growth is mainly attributed to the rising quality of synthetic lubricants. Group III base oils are more costly because of their excellent viscosity index, very low sulfur content, and fine thermal and oxidative stability.
These qualities make them the best fit for accomplishing very tough fuel economy and emission standards. Additionally, the rising adoption of modern engine technologies, oil drain intervals extension, and the popularity of high-performance automotive and industrial lubricants are further driving the growth of this segment. Moreover, advanced hydrocracking and isodewaxing capacity investments, especially in the Asia Pacific and the Middle East, are further driving the growth of the segment.
By application, the automotive oil segment is projected to be the fastest-growing segment during the forecast period.
The automotive oil segment is projected to grow at the highest rate during the forecast period. This growth is owing to the rising global vehicle production and a gradually increasing vehicle parc. Other factors include rising demand for engine oils, transmission fluids, and gear oils, especially in passenger cars and commercial vehicles.
Additionally, the need for stringent emission regulations and fuel efficiency standards is driving the transition to high-performance lubricants based on better-quality Group II, Group III, and synthetic base oils is being driven by the more. Moreover, the use of advanced engine technologies that include turbocharged, hybrid, and next-generation vehicles, along with the preference for longer oil drain intervals, is further contributing to the growth of the automotive oil segment quite vigorously.
Asia Pacific is projected to grow at the highest rate during the forecast period.
Asia Pacific is projected to witness the fastest growth during the forecast period. This growth is mainly due to factors like rapid industrialization, urbanization, and a significant increase in the production of automobiles in countries like China, India, and Southeast Asia. The trend of increasing vehicle ownership, along with the need for highly efficient lubricants, is pushing the usage of higher-value Group II and Group III base oils.
Besides, stricter emission rules, more refining capabilities, and continuous investments in state-of-the-art hydrocracking and isodewaxing technologies are all contributing to the upscale of base oils. Additionally, constant demand for base oils from the industrial, construction, and transport sectors is further spurring the growth of the base oil market in Asia Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 317 |
| Forecast Period | 2025 – 2030 |
| Estimated Market Value (USD) in 2025 | $40.29 Billion |
| Forecasted Market Value (USD) by 2030 | $46.59 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | Global |
Case Study Analysis
- Shell Case Study: Egyptian Iron and Steel Company: Shell Lubricant Solutions Collaborated with Egyptian Iron and Steel Company to Deliver Significant Savings
- Nynas Case Study: Carl Bechem India: Optimizing Food-Grade Lubricant Performance with Nynas’ Base Oils
- Exxonmobil Case Study: Dalian Hilubo Lubricating Oil Company: Dalian Hilubo Lubricating Oil Company Used Exxonmobil’s Formulation Expertise and Mpao Base Stocks to Succeed in China’s Wind Industry
Market Dynamics
Drivers
- Rising Demand for High-Performance Lubricants
- Rapid Industrialization in Asia-Pacific
Restraints
- Declining Demand for Group I Base Oil
- Volatile Crude Oil Prices
Opportunities
- Expansion of Re-Refining and Closed-Loop Recycling Infrastructure
- Growth in Renewable and Bio-based Base Oils
Challenges
- Electric Vehicle Penetration Reducing Long-Term Lubricant Consumption
Unmet Needs and White Spaces
- Unmet Needs in Base Oil Market
- White Space Opportunities
Interconnected Markets and Cross-Sector Opportunities
Emerging Business Models and Ecosystem Shifts
Strategic Moves by Tier 1/2/3 Players
- Key Moves and Strategic Focus
Companies Featured
- Chevron Corporation
- Exxonmobil
- S-Oil Corporation
- Motiva Enterprises LLC
- Sk Enmove
- Saudi Arabian Oil Co.
- Eneos
- Shandong Qingyuan Group Co. Ltd.
- Hindustan Petroleum Corporation Limited
- Shell
- Avista Oil Deutschland GmbH
- Nynas Ab
- Repsol
- Ergon, Inc.
- Calumet, Inc.
- China Petrochemical Corporation/Sinopec Group
- Adnoc
- Phillips 66 Company
- Petronas Lubricants International
- Orlen
- Gs Caltex Corporation
- H&R Group
- Petrochina Company Limited
- Pt Pertamina (Persero)
- Fuchs
- Baker Hughes Company
- Formosa Petrochemical Corporation
- Hf Sinclair Corporation
- Pbf Energy
- Rosneft
- Tupras
- Cross Oil
- Enilive S.P.A.
- Hainan Handi Sunshine Petrochemical Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/eri88q
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