Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Rest of Asia), By Type (Group I, Group II, Group III, Group IV, Group V), By Application (Automotive, IndustrialApplication, Others) And Competitive Landscape
| Product Code: ETC4607387 | Publication Date: Jul 2023 | Updated Date: Nov 2025 | Product Type: Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 300 |
According to 6Wresearch internal database and industry insights, the Asia Pacific Base Oil Market was valued at USD 18.2 billion in 2024 and is projected to reach USD 37.9 billion by 2031, indicating a compound annual growth rate (CAGR) of 11.3% during the forecast period (2025–2031).
| Report Name | Asia Pacific Base Oil Market |
| Forecast period | 2025-2031 |
| CAGR | 11.3% |
| Market Size | USD 37.9 billion by 2031 |
| Growing Sector | Automotive |
Below mentioned are the evaluation of year-wise growth rate along with key drivers:
| Years | Est. Annual Growth | Growth Drivers |
| 2020 | 1.60% | Increasing demand for lubricants in manufacturing industries and logistics. |
| 2021 | 2.80% | Growing automotive production and aftermarket lubricant usage. |
| 2022 | 4.30% | Industrial growth and higher demand for synthetic and semi-synthetic oils. |
| 2023 | 5.20% | Stringent emission and efficiency norms requiring premium-quality base oils. |
| 2024 | 5.90% | Technological innovations in refining and rising consumption of Group II & Group III oils. |
The Asia Pacific Base Oil Market report thoroughly covers the market by Type, Application, and Countries. The report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific Base Oil Market growth is estimated to surge in the coming years, driven by various factors, such as rising automotive lubricant demand and industrial expansion. Also, continuous advancements in refining technologies are considered significant growth accelerators. The market share is estimated to increase owing to rising energy efficiency standards and shifting preferences towards high-performance lubricants. Additionally, new capacity additions in refineries and government focus on sustainability have strengthened the market landscape.
Below mentioned are some prominent drivers and their influence to the market dynamics:
| Driver | Primary Segments Affected | Why it matters (evidence) |
| Rising Automotive Production | Group II & III; Automotive | The demand for premium engine oils derived from Group II and Group III base oils is increasing due to rapid expansion of automotive industries. |
| Expanding Industrial Activities | Group I & II; Industrial | Consistent base oil consumption due to the growth in manufacturing, construction, and machinery lubrication. |
| Shift Toward Energy-Efficient Lubricants | Group III & IV; Automotive | Strict emission norms and demand for fuel efficiency promote synthetic and semi-synthetic oil formulations. |
| Refinery Expansion & Technological Innovation | Group II & III; Industrial | Production of high-purity base oils has increased with upgraded hydrocracking and isomerization technologies. |
| Growing Aftermarket Service Sector | All Groups; Automotive & Industrial | The base oil demand across retail and industrial segments is increasing with the rising vehicle ownership. |
The Asia Pacific Base Oil Market size is projected to grow at a CAGR of 11.3% during the forecast period (2025–2031). The growth of the Asia Pacific base oil market is estimated to surge in the coming years, driven by an increase in the demand for high-quality lubricants across various industries such as automotive, manufacturing, and heavy machinery. Also, the rising expansion in refining capacities in India, China, and South Korea is estimated to be another major growth accelerator. There is a high requirement for efficient and durable lubrication solutions to support machinery and vehicle performance, as the region is experiencing rapid industrialization. Along with this, the demand for base oils is on the rise due to rising automotive industry, particularly with the rise in vehicle production and sales. Additionally, the rising awareness about energy efficiency and the need for longer-lasting oils are encouraging manufacturers to produce superior base oils, thus driving Asia Pacific Base Oil Market growth.
Below mentioned are some major restraints and their influence to the market dynamics:
| Restraint | Primary Segments Affected | What this means (evidence) |
| Volatile Crude Oil Prices | Group I & II | Fluctuations in feedstock prices directly affect base oil production costs. |
| Stringent Environmental Regulations | Group I & II | Environmental restrictions limit the use of conventional Group I base oils due to higher sulfur content. |
| Growing Adoption of Bio-Based Lubricants | All Types | Preference for biodegradable alternatives may reduce mineral-based oil demand. |
| High Investment in Refining Technologies | Group III & IV | Setting up hydrocracking and gas-to-liquid (GTL) facilities requires large capital investments. |
| Oversupply and Pricing Pressure | Group II | Excess capacity in major producing countries causes downward pressure on prices and margins. |
Some emerging trends shaping the market landscape are:
Several prominent trends reshaping the market growth include:
Some prominent investment opportunities in the market include:
Some leading players operating in the market include:
| Company Name | ExxonMobil Corporation |
| Established Year | 1999 |
| Headquarters | Irving, Texas, USA |
| Official Website | Click Here |
ExxonMobil produces Group II to IV base oils with advanced refining and hydrocracking facilities, catering to automotive and industrial lubricant producers.
| Company Name | Shell plc |
| Established Year | 1907 |
| Headquarters | London, United Kingdom |
| Official Website | Click Here |
Shell operates large-scale Group III base oil facilities in Malaysia and supplies high-quality lubricants across the Asia Pacific region.
| Company Name | Chevron Corporation |
| Established Year | 1879 |
| Headquarters | San Ramon, California, USA |
| Official Website | Click Here |
Chevron’s premium Group II and Group III base oils are used in both automotive and heavy industrial applications across the Asia Pacific market.
| Company Name | SK Lubricants Co., Ltd. |
| Established Year | 1968 |
| Headquarters | Seoul, South Korea |
| Official Website | Click Here |
SK Lubricants is one of the world’s largest producers of Group III base oils, with strong regional supply chains supporting OEMs and lubricant blenders.
| Company Name | Sinopec Corporation |
| Established Year | 2000 |
| Headquarters | Beijing, China |
| Official Website | Click Here |
Sinopec is a major producer of Group I and II base oils and has been expanding production of Group III oils to meet China’s rising demand for high-performance lubricants.
Governments have been pushing cleaner energy and low-emission lubricants in the region. Various initiatives, like India's Bureau of Energy Efficiency (BEE) and China's Green Manufacturing Policy, are driving these encouragements. This promotes efficient lubricants under its fuel-saving initiatives and supports the use of eco-friendly base oils. Along with this, some countries, such as Japan and South Korea, are encouraging refining modernization to produce Group III and IV oils with reduced emissions under certain policies, like South Korea’s low-carbon industrial policy and Japan’s Ministry of Economy, Trade and Industry (METI).
The future of the Asia Pacific Base Oil Market appears promising owing to a growing consumption of lubricants across automotive and industrial sectors. Other factors that will contribute to the industry expansion include ongoing investments in refinery expansion and the rising adoption of Group III and IV oils for energy-efficient formulations. At the same time, environmental regulation and efforts toward circular economy are pushing innovation toward renewable or bio-based base oils, opening new growth avenues.
The report offers a comprehensive study of the following market segments and their leading categories:
According to Mansi Ahuja, Senior Research Analyst, 6Wresearch, China dominates the Asia Pacific Base Oil Market owing to its strong refining capacity, growing automotive production, and rapid expansion of lubricant manufacturing facilities. The country’s large consumer base and government push for energy-efficient lubricants make it the regional leader in Market Share and Revenue.
Group II base oils lead the market due to their superior oxidation stability, low sulfur content, and cost-effectiveness compared to Group III and IV. Their widespread use in automotive and industrial lubricants makes them the preferred type among regional manufacturers.
The Automotive segment holds the largest Market Share, driven by expanding vehicle fleets, increasing maintenance requirements, and the demand for high-performance engine oils. Growing electric and hybrid vehicle production also supports the shift towards advanced synthetic lubricants derived from Group III and IV base oils.
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Asia Pacific Base Oil Market Overview |
| 3.1 Asia Pacific Regional Macro Economic Indicators |
| 3.2 Asia Pacific Base Oil Market Revenues & Volume, 2021 & 2031F |
| 3.3 Asia Pacific Base Oil Market - Industry Life Cycle |
| 3.4 Asia Pacific Base Oil Market - Porter's Five Forces |
| 3.5 Asia Pacific Base Oil Market Revenues & Volume Share, By Countries, 2021 & 2031F |
| 3.6 Asia Pacific Base Oil Market Revenues & Volume Share, By Type, 2021 & 2031F |
| 3.7 Asia Pacific Base Oil Market Revenues & Volume Share, By Application, 2021 & 2031F |
| 4 Asia Pacific Base Oil Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 Asia Pacific Base Oil Market Trends |
| 6 Asia Pacific Base Oil Market, 2021 - 2031 |
| 6.1 Asia Pacific Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 6.2 Asia Pacific Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 7 China Base Oil Market, 2021 - 2031 |
| 7.1 China Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 7.2 China Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 8 India Base Oil Market, 2021 - 2031 |
| 8.1 India Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 8.2 India Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 9 Japan Base Oil Market, 2021 - 2031 |
| 9.1 Japan Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 9.2 Japan Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 10 Australia Base Oil Market, 2021 - 2031 |
| 10.1 Australia Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 10.2 Australia Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 11 Indonesia Base Oil Market, 2021 - 2031 |
| 11.1 Indonesia Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 11.2 Indonesia Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 12 Philippines Base Oil Market, 2021 - 2031 |
| 12.1 Philippines Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 12.2 Philippines Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 13 Malaysia Base Oil Market, 2021 - 2031 |
| 13.1 Malaysia Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 13.2 Malaysia Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 14 Rest of Asia Base Oil Market, 2021 - 2031 |
| 14.1 Rest of Asia Base Oil Market, Revenues & Volume, By Type, 2021 - 2031 |
| 14.2 Rest of Asia Base Oil Market, Revenues & Volume, By Application, 2021 - 2031 |
| 11 Asia Pacific Base Oil Market Key Performance Indicators |
| 12 Asia Pacific Base Oil Market - Opportunity Assessment |
| 12.1 Asia Pacific Base Oil Market Opportunity Assessment, By Countries, 2021 & 2031F |
| 12.2 Asia Pacific Base Oil Market Opportunity Assessment, By Type, 2021 & 2031F |
| 12.3 Asia Pacific Base Oil Market Opportunity Assessment, By Application, 2021 & 2031F |
| 13 Asia Pacific Base Oil Market - Competitive Landscape |
| 13.1 Asia Pacific Base Oil Market Revenue Share, By Companies, 2024 |
| 13.2 Asia Pacific Base Oil Market Competitive Benchmarking, By Operating and Technical Parameters |
| 14 Company Profiles |
| 15 Recommendations |
| 16 Disclaimer |