Group II and III Base Oils are two different types of base oils that are commonly used for lubricants. Base oils are the main components of lubricants and are responsible for reducing friction, protecting equipment from wear and tear, and transferring heat away from moving parts. The choice of base oil depends on the required performance and application. For example, Group II base oils are suitable for moderate to heavy-duty applications, while Group III base oils are ideal for high-performance applications where extreme temperature conditions, high loads, and high speeds are involved. According to the latest estimates, the global group ii and iii base oil market is set to achieve an incremental growth of USD 9.3 billion, accelerating at a CAGR of almost 5.9% during the forecast period 2023-2029.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global group ii and iii base oil market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the technology, application, and region. The global market for group ii and iii base oil can be segmented by technology: catalytic dewaxing, hydrocracking, hydrotreating, others. Among these, the hydrocracking segment was accounted for the highest revenue generator in 2022. Group ii and iii base oil market is further segmented by application: automotive oils, industrial oils, process oils, others. The automotive oils segment is estimated to account for the largest share of the global group ii and iii base oil market. Based on region, the group ii and iii base oil market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the largest share of the global group ii and iii base oil market in 2022 and is anticipated to hold its share during the forecast period.

Market Segmentation
By technology: catalytic dewaxing, hydrocracking, hydrotreating, others
By application: automotive oils, industrial oils, process oils, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The market research report covers the analysis of key stake holders of the global group ii and iii base oil market. Some of the leading players profiled in the report include Asian Oil Company, Bahrain Lube Base Oil Company (BLBOC), Bharat Petroleum Corporation Limited (BPCL), Calumet Specialty Products Partners, L.P., Chennai Petroleum Corporation Limited (Indian Oil Corporation), Chevron Corporation (Neste Oyj), China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), Croda International Plc, Exxon Mobil Corporation, Fuchs Petrolub SE, Grupa Lotos S.A., GS Caltex Corporation, Hengli Group Co., Ltd., Hindustan Petroleum Corporation Limited (HPCL), Hyundai and Shell Base Oil Co., Ltd., Petro-Canada Lubricants Inc., Phillips 66 Company, PJSC Rosneft Oil Company, PT Pertamina (Persero), Repsol S.A., Saudi Arabian Oil Company (Saudi Aramco), SK Lubricants Co., Ltd., S-Oil Corporation, The Abu Dhabi National Oil Company (ADNOC), The PJSC Lukoil Oil Company, Vertex Energy Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global group ii and iii base oil market.
• To classify and forecast the global group ii and iii base oil market based on technology, application, region.
• To identify drivers and challenges for the global group ii and iii base oil market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global group ii and iii base oil market.
• To identify and analyze the profile of leading players operating in the global group ii and iii base oil market.

Why Choose This Report
• Gain a reliable outlook of the global group ii and iii base oil market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.