Specialties of Lube Oil Refinery Market
Specialties of Lube Oil Refinery Market Size, Share, and Trends Analysis Report, By Type (Fully Refined Wax, White Oil, Rubber Process Oil, Slack Wax, Semi Refined Wax, Petrolatum, and Microcrystalline Wax), By Oil Group (Group I Base, Group II Base, and Group III Base), By End-User Industry (Automotive, Pharmaceutical, Textile, Cosmetic, Food & Beverages, Packaging, and Others), Forecast Period 2022-2028 Update Available - Forecast 2024-2030
Specialties of lube oil refinery market is anticipated to grow at a CAGR of 5.7% during the forecast period. Lube oil plays a vital role in offering friction between mechanical components used in motorized vehicles to lubricate the engine. They are also used in industrial, cosmetic, and pharmaceutical applications. The rising demand from end-user industries such as pharmaceuticals, cosmetics, automobiles, and others is the major factor that is accelerating the growth of the market. The rise in demand has widely expanded the scope for developments in the global specialties of lube oil refinery market. Moreover, lube oils possess good moisturizing properties which make them suitable for use in cosmetics and skincare products. Further expansion in the cosmetics industry due to the rising inclination of the population towards beauty led to an expansion in the global specialties of lube oil refinery market.
Furthermore, rising disposable income leading to a spur in the demand for automobiles has also contributed to an expansion in the market. However, the disposal of lubricants is the prime concern that may impede the specialties of lube oil refinery market’s growth during the forecast. The challenge is expected to be overcome by the development of biobased lube oils and expanding the automobile sector. As per Invest India, India's passenger vehicle industry is expected to post a growth of 16% in FY23, and the EV market is expected to grow at a CAGR of 49% between 2022-2030 and is expected to hit 10 million-unit annual sales by 2030. This will bring new growth opportunities for the market players during the forecast period.
Segmental Outlook
The global specialties of lube oil refinery market is segmented based on type, oil, and end-user industry. Based on type, the market is sub-segmented into fully refined wax, white oil, rubber process oil, slack wax, semi-refined wax, petrolatum, and microcrystalline wax. Based on the oil group, the market is categorized into group I base, group II base, and group III base. Based on the end-user industry, the market is sub-segmented into automotive, pharmaceutical, textile, cosmetic, food & beverages, packaging, and others. Among these, the automotive industry is expected to spur with the fastest growth rate. Lube oil is in huge demand in the automotive industry as lubricants are extensively used in automobiles to enhance the performance and fuel efficiency of a vehicle. The rapid growth in the automotive sector and rising demand for automotive vehicles especially in India are expected to drive the segment growth.
Regional Outlook
Geographically, the global specialties of lube oil refinery market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North American region is likely to hold the largest share of the market during the forecast period. Growing demand from the automotive and cosmetic industries, and the launch of new products by market players propelling market growth in the region.
Global Specialties of Lube Oil Refinery Market Growth, By Region 2022-2028
Asia-Pacific Region is Expected to Witness Fastest Growth
Geographically, the growth in this region can be attributed to rising demand for automotive vehicles and growing applications of lube oils from end-user industries. Moreover, rapid urbanization and changing lifestyles have also contributed to the market’s growth. Major lube oil producers in the region are also contributing significantly to the overall market expansion. For instance, in August 2022, Motul Asia Pacific launched MS-A a new high-performance 100% synthetic lubricant jointly developed by MUGEN. In addition, in August 2020, the Spanish multi-energy company Repsol launched a new lubricant series with XR- Technology. The products are launched in several Asian countries, with a special focus on the Indonesian market. Such developments by players are expected to bring new growth opportunities to the market.
Market Players Outlook
The major market players in the global specialties of lube oil refinery market include Arcelor Mittal, United States Steel Corp, Nippon Steel & Sumitomo Metal Corp, Tata Steel, POSCO, SSAB AB, JFE Steel Corp, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2022, Shell International B.V. signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL. The acquisition of Shell’s high-quality businesses in Russia fits well into LUKOIL’s strategy to develop its priority sales channels, including retail, as well as the lubricants business.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global specialties of lube oil refinery market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Specialties of Lube Oil Refinery Market by Type
4.1.1. Fully Refined Wax
4.1.2. White Oil
4.1.3. Rubber Process Oil
4.1.4. Slack Wax
4.1.5. Semi Refined Wax
4.1.6. Petrolatum
4.1.7. Microcrystalline Wax
4.2. Global Specialties of Lube Oil Refinery Market by Oil Group
4.2.1. Group I Base
4.2.2. Group II Base
4.2.3. Group III Base
4.3. Global Specialties of Lube Oil Refinery Market by End-User Industry
4.3.1. Automotive
4.3.2. Pharmaceutical
4.3.3. Textile
4.3.4. Cosmetic
4.3.5. Food & Beverages
4.3.6. Packaging
4.3.7. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Blended Waxes, Inc.
6.2. Cepsa SA
6.3. China Petrochemical Corp. (Sinopec Group)
6.4. Eni Deutschland GmbH
6.5. Eni S.p.A
6.6. Exxon Mobil Corp.
6.7. Gandhar Oil Refinery India, Ltd.
6.8. H&R Group US, Inc.
6.9. HollyFrontier Corp
6.10. Honeywell International Inc
6.11. Indian Oil Corporation Ltd
6.12. LUKOIL Lubricants
6.13. MORESCO Corp
6.14. Nynas AB
6.15. Paraffinwaxco, Inc.
6.16. Petroliam Nasional Berhad (PETRONAS)
6.17. Repsol, S.A.
6.18. Royal Dutch Shell Plc
6.19. Sasol Ltd.
6.20. Shell International B.V.
1. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL FULLY REFINED WAX MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL WHITE OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL RUBBER PROCESS OIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL SLACK WAX MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL SEMI REFINED WAX MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL PETROLATUM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL MICROCRYSTALLINE WAX MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY OIL GROUP, 2021-2028 ($ MILLION)
10. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP I BASE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP II BASE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP III BASE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
14. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR PHARMACEUTICAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR TEXTILE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR COSMETIC MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR FOOD & BEVERAGES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR PACKAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
20. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
21. NORTH AMERICAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. NORTH AMERICAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
23. NORTH AMERICAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY OIL GROUP, 2021-2028 ($ MILLION)
24. NORTH AMERICAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
25. EUROPEAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. EUROPEAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
27. EUROPEAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY OIL GROUP, 2021-2028 ($ MILLION)
28. EUROPEAN SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY OIL GROUP, 2021-2028 ($ MILLION)
32. ASIA-PACIFIC SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
33. REST OF THE WORLD SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
34. REST OF THE WORLD SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
35. REST OF THE WORLD SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY OIL GROUP, 2021-2028 ($ MILLION)
36. REST OF THE WORLD SPECIALTIES OF LUBE OIL REFINERY MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
1. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY TYPE, 2021 VS 2028 (%)
2. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY OIL GROUP, 2021 VS 2028 (%)
3. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY END-USER INDUSTRY, 2021 VS 2028 (%)
4. GLOBAL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL FULLY REFINED WAX SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL WHITE OIL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL RUBBER PROCESS OIL SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL SLACK WAX SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL SEMI REFINED WAX SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL PETROLATUM SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL MICROCRYSTALLINE WAX SPECIALTIES OF LUBE OIL REFINERY MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP I BASE MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP II BASE MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR GROUP III BASE MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR AUTOMOTIVE MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR PHARMACEUTICAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
17. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR TEXTILE MARKET SHARE BY REGION, 2021 VS 2028 (%)
18. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR COSMETIC MARKET SHARE BY REGION, 2021 VS 2028 (%)
19. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR FOOD & BEVERAGES MARKET SHARE BY REGION, 2021 VS 2028 (%)
20. GLOBAL SPECIALTIES OF LUBE OIL REFINERY FOR PACKAGING MARKET SHARE BY REGION, 2021 VS 2028 (%)
21. US SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
22. CANADA SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
23. UK SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
24. FRANCE SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
25. GERMANY SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
26. ITALY SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
27. SPAIN SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF EUROPE SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
29. INDIA SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
30. CHINA SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
31. JAPAN SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
32. SOUTH KOREA SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF ASIA-PACIFIC SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
REST OF THE WORLD SPECIALTIES OF LUBE OIL REFINERY MARKET SIZE, 2021-2028 ($ MILLION)
