The global industrial oil market is estimated to be valued at around US$ 65,757.6 million in 2023. Sales of industrial oil are projected to increase at an average CAGR of 3.5% and are expected to top a valuation of US$ 92,575.6 million by 2033. Increasing industrial oil applications in various industries, such as energy generation, are expected to boost the market during the assessment period.
Growing demand to enhance equipment reliability and uptime in various industries may benefit the sales of industrial oil in the coming decade. Mineral and synthetic oil demand are predicted to remain significant in the power generation industry.
Owing to significant development in the industrial sector, China and the United States are expected to remain the most lucrative market for oil consumption. The global consumption of industrial oil is estimated to be around 2.8% of the global crude oil market.
| Attributes | Details |
|---|---|
| Global Market Valuation in 2022 | US$ 63,690.3 million |
| Estimated Global Market Share in 2023 | US$ 65,757.6 million |
| Forecasted Global Market Size by 2033 | US$ 92,757.6 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 3.5% CAGR |
| Market Share of Top 3 Countries in the Year 2022 | 53.8% |
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The global demand for industrial oil has witnessed a CAGR growth of 1.1% between 2018 and 2022, as per Future Market Insights (FMI). Significant consumption of industrial oil in the power generation sector to improve power plant productivity and efficiency may bolster consumption.
In addition, the growing consumption of industrial oil in chemical industries to increase the life of equipment in the cooling tower, heat transfer equipment, reactor, and other equipment increased the market's growth.
The sales of industrial oil are estimated to witness a growth rate of 3.5% between 2023 and 2033. This is owing to the rapid industrialization and consumption of industrial oil in the automotive sector to improve the efficiency and performance of automotive parts and engines.
On the back of these aforementioned factors, the demand in the market is expected to top US$ 65,757.6 million in 2023 and surpass US$ 92,757.6 million by the end of 2033.
Growing Demand from Power Generation Sector Augmenting the Demand
In the power generation sector, industrial oil helps reduce the machinery's wear and tear and benefits the smooth running of the engines and equipment. Further, it also helps to extend machine life, lower operating costs, and increase productivity while achieving environmental care and safety. Industrial oil is used in various power generation plants, such as coal power plants, natural gas engines, and gas turbine power plants.
The power generation sector is expected to grow in recent years owing to the high demand for electricity all over the globe. Further, increasing electricity consumption in industrial, commercial, and residential sectors is a significant factor in increasing the power demand, indirectly bolstering the demand for industrial oil.
In addition to this, the advent of new technologies in the energy sector, including de-carbonization technologies, is improving the development of the power generation sector. Substantial investments and rising electrical energy consumption are expected to propel the growth of industrial oil sales.
Need for Bio-based Oil to Cater to Growing Sustainability Concerns Push Sales
The industrial oil manufacturing process is shifting from petroleum to bio-based products owing to a sustainability focus to decrease the carbon footprint. Owing to the stringency in the environmental regulations, especially in Europe, key players are opting for bio-based sources to reduce their carbon footprint.
Hence, numerous researchers are working on shifting bio-based oil from biodegradable feedstock. However, bio-based oil cannot replace the more standard petroleum-based oil due to its lack of physical properties such as oxidative stability, thermal stability, and viscosity range. However, bio-based oil performance can be enhanced by adding additives, fueling the sales of industrial oil in the market.
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Industrial oil, which is manufactured from a petrochemical source, is hazardous to the environment. It is also responsible for water pollution when it disposes of in the water. Owing to its harmful impact on the environment government imposed a ban and applied regulations on using synthetic oil to reduce its harmful effect on the environment.
In addition to this, bio-based oil, which has been sourced from forest plants, supplies the growing global demand for bio-based oil, as palm oil has sources in tropical forest regions. Owing to these reasons, several governments have imposed compliance regulations for petrochemical source industrial oil and bio-based oil. This might hamper the demand in the market.
Increasing Production of Automotive in China to Facilitate the Demand
The power generation sector in China is poised to expand with the rising consumption of electricity from the industrial sector. The Chinese government is focusing on increasing electricity production to meet the industrial and residential demand for electrical energy. Further, China also plans to increase the coal supply to fuel the demand for coal-fired power plants that may generate more electricity.
Further, the automotive sector is expected to create significant market opportunities for industrial oil consumption with rising sales and production of vehicles. Owing to the increase in power plants and presentations of automotive parts in China, the country is expected to remain a prominent consumer of industrial oil. All these factors are expected to boost the market in China, accounting for about 26.5% of the overall market.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 20.4% |
| Germany | 6.8% |
| Japan | 6.2% |
| Australia | 0.5% |
The Expansion of Chemical Manufacturing Industries may Push Industrial Oil Demand.
The expansion of chemical manufacturing industries in Germany is expected to be the primary factor boosting the demand in the market. Many chemical manufacturers are eyeing the German market owing to the excellent research landscape, state-of-the-art logistics, and world-class infrastructure. As per the study, Germany is considered one of the leading exporters of chemical products.
In addition, several leading companies in Germany, such as BASF, Bayer, Fresenius, Henke, Boehringer Ingelheim, and others. The chemical industry in Germany also produces chemicals and supplies raw materials to other countries. Further, the innovation of new chemical products and manufacturing processes in Germany may drive the demand for the upcoming decade.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 2.6% |
| China | 4.1% |
| India | 4.8% |
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Sales of Mineral-based Industrial Oil to Gain Traction through 2033
Mineral industrial oil is acquired from petroleum products from oil wells. All mineral oils comprise hydrocarbons and organic compounds that consist of hydrogen and carbon.
Mineral-based oil has the advantages of better solubility with additives, lower cost, and enhanced compatibility with seals. It also has lubricating properties typically used for mechanical components such as bearings, gears, chains, slides, and threaded connections.
It gives a broad operating temperature range from -17°C to 150°C. Mineral oil is compatible with many additives that can be beneficial for custom lubrication solutions. It is also compatible with many grease thickener systems.
Mineral-based oil is used in many industries, such as automotive, industrial machinery, textile, food and beverages, plastic, and chemicals. In terms of type, mineral oil is estimated to witness a growth rate of 2.1% CAGR over the coming decade.
| Category | By Oil Type |
|---|---|
| Top Segment | Process Oil |
| Market Share in Percentage | 31.2% |
| Category | By Source |
|---|---|
| Top Segment | Crude Oil |
| Market Share in Percentage | 67.6% |
Energy Generation Sector to Contribute Maximum Revenue of Industrial Oil
Mineral-based oil is the highest consumed in the power generation sector for various plants such as gas turbine power plants, coal power plants, and others. Mineral-based trial oil extends machine life in power plants, lowers operating costs, and boosts equipment reliability.
Expansion of the power generation sector owing to the increasing consumption of electrical energy may further propel the sales in the market. In addition, the power generation sector is witnessing growth due to high demand in the transportation sector and surging electrical vehicle sales.
With the burgeoning growth in the power generation sector, consumption of industrial oil is predicted to surge due to the optimization of equipment efficiency of a power plant.
Key players in the global industrial oil market are working on plant-based oil and looking out for ways to product formulation and develop more sustainable industrial oil solutions. They are also investing in safer and sustainable additives.
Further, they also innovated new formulations to shift from petroleum-based to bio-based oil owing to the regulatory pressure for safer additives and working on custom solutions for end users.
For Instance:
Exxon Mobil collaborated with GE Power and launched advanced Co-Branded Turbine Oil. A new technology that improves turbine bearing efficiency by up to 15 percent compared to conventional turbine oil.
In March 2023, Shell announced a collaboration with the University of Manchester to create fresh methods for making environmentally friendly industrial oils. The partnership's main goal is to manufacture oils that are compatible with current industrial machinery by using renewable feedstock.
To create new bio-based industrial lubricants, Bharat Petroleum stated in April 2023 to invest US$ 50 million in its one new facility. Likewise, in Teesside, England, the Company plans to utilize used vegetable oil to create lubricants that are compatible with current industrial machinery.
| Attribute | Details |
|---|---|
| Market Estimated Size (2023E) | US$ 65,757.6 million |
| Projected Market Value (2033F) | US$ 92,757.6 million |
| Value CAGR (2023 to 2033) | 3.5% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million or US$ billion for Value and Kilo Tons for Volume |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Northern Africa, South Africa |
| Key Segments Covered | Type, Oil Type, Source, End Use, and Region |
| Key Companies Profiled | ExxonMobil; Shell; PHILLIPS 66; TotalEnergies; Chevron; bp; Gazprom; Rosneft; Quacker Houghton Chemical Corp.; Lukoil; Petronas; Bharat Petroleum; FUCHS PETROLUB SE; Sinopec; Idemitsu Kosan Co., Ltd; Tide Water Oil Co (I) Ltd; Castrol; Panama Petrochem Ltd.; Gulf Oil Lubricants India Ltd; Gandhar Oil; Savita Oil Technologies Ltd; Apar Industries Ltd.; Grauer & Weil (India) Limited; Gold Oil Corporation; Vinayak Oil |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The net worth of the market is expected to be US$ 92,575.6 million by 2033.
The market is calculated to expand at a CAGR of 3.5% through 2033.
The market expanded at a CAGR of 1.1% from 2018 to 2022.
Expanding power generation sector and growing demand for bio-based oil enriched with industrial oil are shaping market’s growth.
Process oil enjoys immense popularity.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Mineral 5.3.2. Synthetic and Semi-Synthetic 5.3.3. Biobased 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Oil Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Oil Type, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Oil Type, 2023 to 2033 6.3.1. Process Oil 6.3.2. Hydraulic Oils 6.3.3. Industry Engine Oils 6.3.4. Gear Oils 6.3.5. Metal Working Fluids 6.3.6. Turbine and Circulating Oils 6.3.7. Refrigerating Oils 6.3.8. Compressor Oils 6.4. Y-o-Y Growth Trend Analysis By Oil Type, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Oil Type, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Source, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Source, 2023 to 2033 7.3.1. Crude Oil 7.3.2. Soybean 7.3.3. Sunflower 7.3.4. Rapeseed 7.3.5. Palm 7.3.6. Others 7.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End-Use, 2018 to 2022 8.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End-Use, 2023 to 2033 8.3.1. Energy Generation 8.3.2. Oil & Gas 8.3.3. Manufacturing 8.3.4. Automotive 8.3.5. Heavy Engineering Equipment 8.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022 8.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022 9.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033 9.3.1. North America 9.3.2. Latin America 9.3.3. Western Europe 9.3.4. Eastern Europe 9.3.5. South Asia and Pacific 9.3.6. East Asia 9.3.7. Middle East and Africa 9.4. Market Attractiveness Analysis By Region 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. U.S. 10.2.1.2. Canada 10.2.2. By Type 10.2.3. By Oil Type 10.2.4. By Source 10.2.5. By End-Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Oil Type 10.3.4. By Source 10.3.5. By End-Use 10.4. Key Takeaways 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Brazil 11.2.1.2. Mexico 11.2.1.3. Rest of Latin America 11.2.2. By Type 11.2.3. By Oil Type 11.2.4. By Source 11.2.5. By End-Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Oil Type 11.3.4. By Source 11.3.5. By End-Use 11.4. Key Takeaways 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. U.K. 12.2.1.3. France 12.2.1.4. Spain 12.2.1.5. Italy 12.2.1.6. Rest of Western Europe 12.2.2. By Type 12.2.3. By Oil Type 12.2.4. By Source 12.2.5. By End-Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Oil Type 12.3.4. By Source 12.3.5. By End-Use 12.4. Key Takeaways 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. Poland 13.2.1.2. Russia 13.2.1.3. Czech Republic 13.2.1.4. Romania 13.2.1.5. Rest of Eastern Europe 13.2.2. By Type 13.2.3. By Oil Type 13.2.4. By Source 13.2.5. By End-Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Oil Type 13.3.4. By Source 13.3.5. By End-Use 13.4. Key Takeaways 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. India 14.2.1.2. Bangladesh 14.2.1.3. Australia 14.2.1.4. New Zealand 14.2.1.5. Rest of South Asia and Pacific 14.2.2. By Type 14.2.3. By Oil Type 14.2.4. By Source 14.2.5. By End-Use 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Oil Type 14.3.4. By Source 14.3.5. By End-Use 14.4. Key Takeaways 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. China 15.2.1.2. Japan 15.2.1.3. South Korea 15.2.2. By Type 15.2.3. By Oil Type 15.2.4. By Source 15.2.5. By End-Use 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Type 15.3.3. By Oil Type 15.3.4. By Source 15.3.5. By End-Use 15.4. Key Takeaways 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 16.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 16.2.1. By Country 16.2.1.1. GCC Countries 16.2.1.2. South Africa 16.2.1.3. Israel 16.2.1.4. Rest of MEA 16.2.2. By Type 16.2.3. By Oil Type 16.2.4. By Source 16.2.5. By End-Use 16.3. Market Attractiveness Analysis 16.3.1. By Country 16.3.2. By Type 16.3.3. By Oil Type 16.3.4. By Source 16.3.5. By End-Use 16.4. Key Takeaways 17. Key Countries Market Analysis 17.1. U.S. 17.1.1. Pricing Analysis 17.1.2. Market Share Analysis, 2022 17.1.2.1. By Type 17.1.2.2. By Oil Type 17.1.2.3. By Source 17.1.2.4. By End-Use 17.2. Canada 17.2.1. Pricing Analysis 17.2.2. Market Share Analysis, 2022 17.2.2.1. By Type 17.2.2.2. By Oil Type 17.2.2.3. By Source 17.2.2.4. By End-Use 17.3. Brazil 17.3.1. Pricing Analysis 17.3.2. Market Share Analysis, 2022 17.3.2.1. By Type 17.3.2.2. By Oil Type 17.3.2.3. By Source 17.3.2.4. By End-Use 17.4. Mexico 17.4.1. Pricing Analysis 17.4.2. Market Share Analysis, 2022 17.4.2.1. By Type 17.4.2.2. By Oil Type 17.4.2.3. By Source 17.4.2.4. By End-Use 17.5. Germany 17.5.1. Pricing Analysis 17.5.2. Market Share Analysis, 2022 17.5.2.1. By Type 17.5.2.2. By Oil Type 17.5.2.3. By Source 17.5.2.4. By End-Use 17.6. U.K. 17.6.1. Pricing Analysis 17.6.2. Market Share Analysis, 2022 17.6.2.1. By Type 17.6.2.2. By Oil Type 17.6.2.3. By Source 17.6.2.4. By End-Use 17.7. France 17.7.1. Pricing Analysis 17.7.2. Market Share Analysis, 2022 17.7.2.1. By Type 17.7.2.2. By Oil Type 17.7.2.3. By Source 17.7.2.4. By End-Use 17.8. Spain 17.8.1. Pricing Analysis 17.8.2. Market Share Analysis, 2022 17.8.2.1. By Type 17.8.2.2. By Oil Type 17.8.2.3. By Source 17.8.2.4. By End-Use 17.9. Italy 17.9.1. Pricing Analysis 17.9.2. Market Share Analysis, 2022 17.9.2.1. By Type 17.9.2.2. By Oil Type 17.9.2.3. By Source 17.9.2.4. By End-Use 17.10. Poland 17.10.1. Pricing Analysis 17.10.2. Market Share Analysis, 2022 17.10.2.1. By Type 17.10.2.2. By Oil Type 17.10.2.3. By Source 17.10.2.4. By End-Use 17.11. Russia 17.11.1. Pricing Analysis 17.11.2. Market Share Analysis, 2022 17.11.2.1. By Type 17.11.2.2. By Oil Type 17.11.2.3. By Source 17.11.2.4. By End-Use 17.12. Czech Republic 17.12.1. Pricing Analysis 17.12.2. Market Share Analysis, 2022 17.12.2.1. By Type 17.12.2.2. By Oil Type 17.12.2.3. By Source 17.12.2.4. By End-Use 17.13. Romania 17.13.1. Pricing Analysis 17.13.2. Market Share Analysis, 2022 17.13.2.1. By Type 17.13.2.2. By Oil Type 17.13.2.3. By Source 17.13.2.4. By End-Use 17.14. India 17.14.1. Pricing Analysis 17.14.2. Market Share Analysis, 2022 17.14.2.1. By Type 17.14.2.2. By Oil Type 17.14.2.3. By Source 17.14.2.4. By End-Use 17.15. Bangladesh 17.15.1. Pricing Analysis 17.15.2. Market Share Analysis, 2022 17.15.2.1. By Type 17.15.2.2. By Oil Type 17.15.2.3. By Source 17.15.2.4. By End-Use 17.16. Australia 17.16.1. Pricing Analysis 17.16.2. Market Share Analysis, 2022 17.16.2.1. By Type 17.16.2.2. By Oil Type 17.16.2.3. By Source 17.16.2.4. By End-Use 17.17. New Zealand 17.17.1. Pricing Analysis 17.17.2. Market Share Analysis, 2022 17.17.2.1. By Type 17.17.2.2. By Oil Type 17.17.2.3. By Source 17.17.2.4. By End-Use 17.18. China 17.18.1. Pricing Analysis 17.18.2. Market Share Analysis, 2022 17.18.2.1. By Type 17.18.2.2. By Oil Type 17.18.2.3. By Source 17.18.2.4. By End-Use 17.19. Japan 17.19.1. Pricing Analysis 17.19.2. Market Share Analysis, 2022 17.19.2.1. By Type 17.19.2.2. By Oil Type 17.19.2.3. By Source 17.19.2.4. By End-Use 17.20. South Korea 17.20.1. Pricing Analysis 17.20.2. Market Share Analysis, 2022 17.20.2.1. By Type 17.20.2.2. By Oil Type 17.20.2.3. By Source 17.20.2.4. By End-Use 17.21. GCC Countries 17.21.1. Pricing Analysis 17.21.2. Market Share Analysis, 2022 17.21.2.1. By Type 17.21.2.2. By Oil Type 17.21.2.3. By Source 17.21.2.4. By End-Use 17.22. South Africa 17.22.1. Pricing Analysis 17.22.2. Market Share Analysis, 2022 17.22.2.1. By Type 17.22.2.2. By Oil Type 17.22.2.3. By Source 17.22.2.4. By End-Use 17.23. Israel 17.23.1. Pricing Analysis 17.23.2. Market Share Analysis, 2022 17.23.2.1. By Type 17.23.2.2. By Oil Type 17.23.2.3. By Source 17.23.2.4. By End-Use 18. Market Structure Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Market Share Analysis of Top Players 18.3.1. By Regional 18.3.2. By Type 18.3.3. By Oil Type 18.3.4. By Source 18.3.5. By End-Use 19. Competition Analysis 19.1. Competition Deep Dive 19.1.1. ExxonMobil 19.1.1.1. Overview 19.1.1.2. Product Portfolio 19.1.1.3. Profitability by Market Segments 19.1.1.4. Sales Footprint 19.1.1.5. Strategy Overview 19.1.1.5.1. Marketing Strategy 19.1.1.5.2. Product Strategy 19.1.1.5.3. Channel Strategy 19.1.2. Shell 19.1.2.1. Overview 19.1.2.2. Product Portfolio 19.1.2.3. Profitability by Market Segments 19.1.2.4. Sales Footprint 19.1.2.5. Strategy Overview 19.1.2.5.1. Marketing Strategy 19.1.2.5.2. Product Strategy 19.1.2.5.3. Channel Strategy 19.1.3. PHILLIPS 66 19.1.3.1. Overview 19.1.3.2. Product Portfolio 19.1.3.3. Profitability by Market Segments 19.1.3.4. Sales Footprint 19.1.3.5. Strategy Overview 19.1.3.5.1. Marketing Strategy 19.1.3.5.2. Product Strategy 19.1.3.5.3. Channel Strategy 19.1.4. TotalEnergies 19.1.4.1. Overview 19.1.4.2. Product Portfolio 19.1.4.3. Profitability by Market Segments 19.1.4.4. Sales Footprint 19.1.4.5. Strategy Overview 19.1.4.5.1. Marketing Strategy 19.1.4.5.2. Product Strategy 19.1.4.5.3. Channel Strategy 19.1.5. Chevron 19.1.5.1. Overview 19.1.5.2. Product Portfolio 19.1.5.3. Profitability by Market Segments 19.1.5.4. Sales Footprint 19.1.5.5. Strategy Overview 19.1.5.5.1. Marketing Strategy 19.1.5.5.2. Product Strategy 19.1.5.5.3. Channel Strategy 19.1.6. bp 19.1.6.1. Overview 19.1.6.2. Product Portfolio 19.1.6.3. Profitability by Market Segments 19.1.6.4. Sales Footprint 19.1.6.5. Strategy Overview 19.1.6.5.1. Marketing Strategy 19.1.6.5.2. Product Strategy 19.1.6.5.3. Channel Strategy 19.1.7. Gazprom 19.1.7.1. Overview 19.1.7.2. Product Portfolio 19.1.7.3. Profitability by Market Segments 19.1.7.4. Sales Footprint 19.1.7.5. Strategy Overview 19.1.7.5.1. Marketing Strategy 19.1.7.5.2. Product Strategy 19.1.7.5.3. Channel Strategy 19.1.8. Rosneft 19.1.8.1. Overview 19.1.8.2. Product Portfolio 19.1.8.3. Profitability by Market Segments 19.1.8.4. Sales Footprint 19.1.8.5. Strategy Overview 19.1.8.5.1. Marketing Strategy 19.1.8.5.2. Product Strategy 19.1.8.5.3. Channel Strategy 19.1.9. Quacker Houghton Chemical Corp. 19.1.9.1. Overview 19.1.9.2. Product Portfolio 19.1.9.3. Profitability by Market Segments 19.1.9.4. Sales Footprint 19.1.9.5. Strategy Overview 19.1.9.5.1. Marketing Strategy 19.1.9.5.2. Product Strategy 19.1.9.5.3. Channel Strategy 19.1.10. Lukoil 19.1.10.1. Overview 19.1.10.2. Product Portfolio 19.1.10.3. Profitability by Market Segments 19.1.10.4. Sales Footprint 19.1.10.5. Strategy Overview 19.1.10.5.1. Marketing Strategy 19.1.10.5.2. Product Strategy 19.1.10.5.3. Channel Strategy 19.1.11. Petronas 19.1.11.1. Overview 19.1.11.2. Product Portfolio 19.1.11.3. Profitability by Market Segments 19.1.11.4. Sales Footprint 19.1.11.5. Strategy Overview 19.1.11.5.1. Marketing Strategy 19.1.11.5.2. Product Strategy 19.1.11.5.3. Channel Strategy 19.1.12. Bharat Petroleum 19.1.12.1. Overview 19.1.12.2. Product Portfolio 19.1.12.3. Profitability by Market Segments 19.1.12.4. Sales Footprint 19.1.12.5. Strategy Overview 19.1.12.5.1. Marketing Strategy 19.1.12.5.2. Product Strategy 19.1.12.5.3. Channel Strategy 19.1.13. FUCHS PETROLUB SE 19.1.13.1. Overview 19.1.13.2. Product Portfolio 19.1.13.3. Profitability by Market Segments 19.1.13.4. Sales Footprint 19.1.13.5. Strategy Overview 19.1.13.5.1. Marketing Strategy 19.1.13.5.2. Product Strategy 19.1.13.5.3. Channel Strategy 19.1.14. Sinopec 19.1.14.1. Overview 19.1.14.2. Product Portfolio 19.1.14.3. Profitability by Market Segments 19.1.14.4. Sales Footprint 19.1.14.5. Strategy Overview 19.1.14.5.1. Marketing Strategy 19.1.14.5.2. Product Strategy 19.1.14.5.3. Channel Strategy 19.1.15. Idemitsu Kosan Co., Ltd 19.1.15.1. Overview 19.1.15.2. Product Portfolio 19.1.15.3. Profitability by Market Segments 19.1.15.4. Sales Footprint 19.1.15.5. Strategy Overview 19.1.15.5.1. Marketing Strategy 19.1.15.5.2. Product Strategy 19.1.15.5.3. Channel Strategy 19.1.16. Tide Water Oil Co (I) Ltd 19.1.16.1. Overview 19.1.16.2. Product Portfolio 19.1.16.3. Profitability by Market Segments 19.1.16.4. Sales Footprint 19.1.16.5. Strategy Overview 19.1.16.5.1. Marketing Strategy 19.1.16.5.2. Product Strategy 19.1.16.5.3. Channel Strategy 19.1.17. Castrol 19.1.17.1. Overview 19.1.17.2. Product Portfolio 19.1.17.3. Profitability by Market Segments 19.1.17.4. Sales Footprint 19.1.17.5. Strategy Overview 19.1.17.5.1. Marketing Strategy 19.1.17.5.2. Product Strategy 19.1.17.5.3. Channel Strategy 19.1.18. Panama Petrochem Ltd. 19.1.18.1. Overview 19.1.18.2. Product Portfolio 19.1.18.3. Profitability by Market Segments 19.1.18.4. Sales Footprint 19.1.18.5. Strategy Overview 19.1.18.5.1. Marketing Strategy 19.1.18.5.2. Product Strategy 19.1.18.5.3. Channel Strategy 19.1.19. Gulf Oil Lubricants India Ltd 19.1.19.1. Overview 19.1.19.2. Product Portfolio 19.1.19.3. Profitability by Market Segments 19.1.19.4. Sales Footprint 19.1.19.5. Strategy Overview 19.1.19.5.1. Marketing Strategy 19.1.19.5.2. Product Strategy 19.1.19.5.3. Channel Strategy 19.1.20. Gandhar Oil 19.1.20.1. Overview 19.1.20.2. Product Portfolio 19.1.20.3. Profitability by Market Segments 19.1.20.4. Sales Footprint 19.1.20.5. Strategy Overview 19.1.20.5.1. Marketing Strategy 19.1.20.5.2. Product Strategy 19.1.20.5.3. Channel Strategy 20. Assumptions & Acronyms Used 21. Research Methodology
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