US Group II & III Base Oils Market Report 2022-2027: Technology, Application & Geography – Southern US Dominates the Market – Yahoo Finance | Region & Cash

DUBLIN, July 27, 2022 /PRNewswire/ — Added US Group II & III Base Oil Market – Industry Outlook and Forecast 2022-2027 report ResearchAndMarkets.com Offer.

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The US is emerging as a major supplier in the Group II base oil market

The US is a major Group II and III base oil market worldwide. Penetration of premium base oil products is high. The country is a major center for the production and consumption of Group II and III base oils due to the strong demand from OEM manufacturers for high-quality lubricants.

In addition, strict regulations related to emission standard, better fuel efficiency and growing trend of sustainability aspect are also the main factor driving demand for Group II and III base oil in US Chevron Corporation, Exxon Mobil Corporation, Phillips 66 , HollyFrontier Corporation, Pure Performance, Neste and Vertex Energy, among others, are the major players in the US Group II and III base oil market

TRENDS AND DRIVERS FOR US GROUP II AND III GROUP OIL

Demand for premium base oil is gaining momentum:

Demand for Group II and III base oils is gaining momentum in the US as consumers place increasing demands on fuel efficiency, longer motor oil life and the need to minimize pollution. In addition, the increasing stringency of automotive regulations to minimize carbon emissions into the environment has motivated automobile manufacturers to switch to high-quality lubricants based on Group II and Group III base oils. Therefore, US manufacturers are switching from Group I base oil to Group II and III base oil, i.e. premium base oil.

Increasing demand for bio-based lubricants:

Bio-based lubricants are the replacement for petroleum-based lubricants. Increasing awareness of the chemical’s harmful effects on the environment combined with stringent government regulations are fueling demand for bio-based lubricants. In addition, bio-based lubricants are renewable and benefit from multiple adaptations before impacting the environment. Therefore, preference is given to bio-based lubricants, leading to significant growth of the bio-based lubricants market throughout the projection period.

SEGMENTATION ANALYSIS

Hydrotreating, among others, is the largest segment in the US Group II and Group III oil market

Hydrotreating is the largest segment and is expected to witness similar growth over the forecast period due to its ability to deliver high quality base oil products more than other processes. It improves the quality, color and color stability of the base material and reduces the content of sulphur, nitrogen, halogen, oxygen and metal compounds. It is mainly used to make Group II base oil. HollyFrontier Corporation and Vertex Energy are some of the US companies using hydrotreating technology to produce Group II and Group III base oils.

Auto oil is the fastest growing segment in The United States Group II and III base oil market.

As the demand for efficient and high-performing vehicles increases, the demand for automotive lubricants is increasing rapidly as these lubricants play a crucial role in vehicle performance and efficiency. Automotive lubricants are the most important part of any vehicle as almost every vehicle needs lubricants for the proper functioning of the vehicle. In addition, it also protects the metal surface of the engine from corrosion, reduces friction on moving parts and cleans the engine of sludge. The increasing production and demand for vehicles in the USA supports the market growth.

The southern United States dominates the market

The US South is the largest Group II and III base oil market in the US. Demand for premium base oils comes primarily from the automotive and construction industries in the southern United States. BMW, Ford Motor, General Motors, Nissan Motor Company, Kia Motors, and Toyota Motor Corporation are some automobile companies that operate in the southern region of the US and consume a large portion of the base oil.

For example, BMW prefers Group III base oil for all its brands of automobiles produced and supplied by Shell. In terms of vehicle production, BMW produced 433,810 BMW X-series vehicles in its 2021 South Carolina facility, a 20% increase over 2020. Exxon Mobil Corporation, Vertex Energy, Motiva and HollyFrontier Corporation produce Group II and III base oils in the southern United States.

Company and Strategies:

The US Groups II and III base oil market is inherently consolidated and is intensifying due to the changing base oil market landscape. The rapidly changing technological environment and sustainability scenario may adversely affect vendors as customers expect continuous innovation and upgrades. The parameters by which suppliers compete in the US Group II and III base oil market are product portfolio, product quality, geographic footprint, brand image and cost differentiation.

The major companies operating in the market are Chevron Corporation (CaliforniaUnited States), ExxonMobil (TexasUSA), Phillips 66 Company (TexasUnited States), Dodge (CaliforniaUSA) and HollyFrontier Corporation (TexasUSA) and Puraglobe (Florida). These companies compete among themselves for the leading position in the market, with constant competition from local suppliers.

Group II and III US base oil market is provided for forecast years 2022 to 2027 and base year 2021. The market is segmented by technology, application, and geography for the years under review. The report offers a holistic approach to US Groups II and III Base Oils industry to enable clients to analyze the market efficiently.

Recent Developments

  • in the October 2021Chevron Global Energy Inc, a wholly owned subsidiary of US-based Chevron Corporation, announced the acquisition of Neste’s base oil business.

  • in the Aug 2020Chevron Corporation announced plans to produce group oil from renewable sources.

key provider

  • Chevron Corporation

  • ExxonMobil Corporation

  • Company Philips 666

Other prominent providers

Main topics covered:

1 research methodology

2 research goals

3 research process

4 Scope and Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study

5 Report assumptions and reservations
5.1 Important caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a glance

7 Introduction
7.1 Overview
7.2 Supply Chain Analysis
7.3 Criteria for selecting base materials
7.4 Automotive Insights
7.5 Economic and demographic analysis of the USA

8 Market Opportunities and Trends
8.1 Increasing demand for premium base oil
8.2 Growing demand for IMO compliant marine fuel
8.3 Growing demand for bio-based base oil products

9 Market Growth Promoters
9.1 Increasing importance of Group II+ base oil
9.2 Growing Disposable Income
9.3 Increasing urbanization trends

10 Market Growth Constraints
10.1 Rising Crude Oil Prices
10.2 Changing climate landscape

11 market landscape
11.1 Market Overview
11.2 Market Size and Forecast
11.3 Group II and III base oil penetration by region
11.4 Five Force Analysis

12 technique
12.1 Market Overview & Growth Engine (Value)
12.2 Market Overview & Growth Engine (Volume)
12.3 Market Overview
12.4 Hydrotreating
12.5 Hydrocracking
12.6 Catalytic dewaxing
12.7 Miscellaneous

13 application
13.1 Market Overview & Growth Engine (Value)
13.2 Market Overview
13.3 Car Oil
13.4 Industrial Oil
13.5 Process Oil
13.6 Miscellaneous

14 regions
14.1 Market overview and growth engine
14.2 Region Overview

15 west
15.1 Market Overview
15.2 Market Size and Forecast
15.3 Technology
15.4 Application

16 South
16.1 Market Overview
16.2 Market Size and Forecast
16.3 Technology
16.4 Application

17 Midwest
17.1 Market Overview
17.2 Market Size and Forecast
17.3 Technology
17.4 Application

18 Northeast
18.1 Market Overview
18.2 Market Size and Forecast
18.3 Technology
18.4 Application

19 competitive landscape
19.1 Competition Overview

For more information about this report, visit https://www.researchandmarkets.com/r/sz7mez

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