South Korea Base Oil Market Forecast 2022-2028

The South Korea base oil market is projected to grow with a CAGR of 5.81% in terms of revenue and 6.50% in terms of volume during the forecasting period. While the base year considered for the studied market is 2021, the estimated years are from 2022 to 2028. Some of the key drivers ascribed to the country's market growth include the strong presence of key players as well as the strategic initiatives undertaken by them.

MARKET INSIGHTS

South Korea harbors major industry giants as well as players that are active in the base oil market. These companies also undertake notable strategic initiatives in order to stimulate the country's market. Aligning with this, in 2022, Kixx, a top brand of lubricants in Korea designed and manufactured by GS Caltex Corporation, announced the launch of Kixx BIO1 0W-20. Kixx BIO1 0W-20 is a completely synthetic engine oil manufactured with 100% plant-based base oil. While it minimizes the impact of oil on the environment, it significantly maximizes the performance, as well.

Furthermore, in 2020, GS Caltex Corporation became the first refinery in South Korea to launch lubricants specifically dedicated to hybrid vehicles, termed 'Kixx Hybrid.' Kixx Hybrid is developed from a mixture of additives along with high-quality lube-base oil, thus delivering enhanced fuel efficiency as well as improved protection for engine parts. As a result, these factors are set to proliferate the growth of the base oil market in South Korea during the forecasted period.

COMPETITIVE INSIGHTS

Some of the major companies in the market are: S-Oil Corporation, GS Caltex Corporation, Hyundai and Shell Base Oil Co Ltd, etc.

Our report offerings include:

Explore key findings of the overall market

Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)

Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions

Market Segmentation cater to a thorough assessment of key segments with their market estimations

Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share

Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.

Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.

Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Product Code: 46711

1. RESEARCH SCOPE & METHODOLOGY

1.1. STUDY OBJECTIVES
1.2. SCOPE OF STUDY
1.3. METHODOLOGY
1.4. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. COUNTRY SNAPSHOT
2.4. COUNTRY ANALYSIS
2.5. KEY GROWTH ENABLERS
2.6. KEY CHALLENGES

3. KEY ANALYTICS

3.1. IMPACT OF COVID-19 ON BASE OIL MARKET
3.2. KEY MARKET TRENDS
3.3. PORTER'S FIVE FORCES ANALYSIS
- 3.3.1. BUYERS POWER
- 3.3.2. SUPPLIERS POWER
- 3.3.3. SUBSTITUTION
- 3.3.4. NEW ENTRANTS
- 3.3.5. INDUSTRY RIVALRY
3.4. OPPORTUNITY MATRIX
3.5. PESTLE ANALYSIS - SOUTH KOREA
3.6. KEY BUYING CRITERIA
- 3.6.1. TYPE
- 3.6.2. VISCOSITY GRADE
- 3.6.3. OIL STANDARDS
- 3.6.4. PERFORMANCE

4. MARKET BY GROUP (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)

4.1. GROUP I
4.2. GROUP II
4.3. GROUP III
4.4. GROUP IV
4.5. GROUP V

5. MARKET BY APPLICATION (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTONS)

5.1. AUTOMOTIVE OIL
5.2. INDUSTRIAL OIL
5.3. METALWORKING FLUIDS
5.4. GREASES
5.5. HYDRAULIC OIL
5.6. OTHER APPLICATIONS

6. COMPETITIVE LANDSCAPE

6.1. KEY STRATEGIC DEVELOPMENTS
- 6.1.1. MERGERS & ACQUISITIONS
- 6.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 6.1.3. PARTNERSHIPS & AGREEMENTS
- 6.1.4. BUSINESS EXPANSIONS & DIVESTITURES
6.2. COMPANY PROFILES
- 6.2.1. GS CALTEX CORPORATION
- 6.2.2. HYUNDAI AND SHELL BASE OIL CO LTD
- 6.2.3. NONGSHIM CO LTD
- 6.2.4. SK LUBRICANTS
- 6.2.5. S-OIL CORPORATION

Product Code: 46711

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT - BASE OIL
TABLE 2: SOUTH KOREA BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)
TABLE 3: SOUTH KOREA BASE OIL MARKET, BY GROUP, FORECAST YEARS, 2022-2028 (IN KILOTONS)
TABLE 4: SOUTH KOREA BASE OIL MARKET, BY GROUP, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 5: SOUTH KOREA BASE OIL MARKET, BY GROUP, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 6: SOUTH KOREA BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN KILOTONS)
TABLE 7: SOUTH KOREA BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN KILOTONS)
TABLE 8: SOUTH KOREA BASE OIL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 9: SOUTH KOREA BASE OIL MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: KEY BUYING CRITERIA
FIGURE 5: SOUTH KOREA BASE OIL MARKET, GROWTH POTENTIAL, BY GROUP, IN 2021
FIGURE 6: SOUTH KOREA BASE OIL MARKET, BY GROUP I, 2022-2028 (IN $ MILLION)
FIGURE 7: SOUTH KOREA BASE OIL MARKET, BY GROUP II, 2022-2028 (IN $ MILLION)
FIGURE 8: SOUTH KOREA BASE OIL MARKET, BY GROUP III, 2022-2028 (IN $ MILLION)
FIGURE 9: SOUTH KOREA BASE OIL MARKET, BY GROUP IV, 2022-2028 (IN $ MILLION)
FIGURE 10: SOUTH KOREA BASE OIL MARKET, BY GROUP V, 2022-2028 (IN $ MILLION)
FIGURE 11: SOUTH KOREA BASE OIL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021
FIGURE 12: SOUTH KOREA BASE OIL MARKET, BY AUTOMOTIVE OIL, 2022-2028 (IN $ MILLION)
FIGURE 13: SOUTH KOREA BASE OIL MARKET, BY INDUSTRIAL OIL, 2022-2028 (IN $ MILLION)
FIGURE 14: SOUTH KOREA BASE OIL MARKET, BY METALWORKING FLUIDS, 2022-2028 (IN $ MILLION)
FIGURE 15: SOUTH KOREA BASE OIL MARKET, BY GREASES, 2022-2028 (IN $ MILLION)
FIGURE 16: SOUTH KOREA BASE OIL MARKET, BY HYDRAULIC OIL, 2022-2028 (IN $ MILLION)
FIGURE 17: SOUTH KOREA BASE OIL MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)