China, the market leader of Asian base oils

A preview of the domestic base oils market and its impact on global market participants

12 July 2016

China is expected to remain the largest base oils import market in Asia. In 2015, Group II base oil demand grew 5% year on year, with 57% of demand met by imports; Group III base oil demand grew 4% year on year with 93% of demand met by imports. Although industrial lubricant demand is expected to decline , the demand from vehicle application sectors that require Group II and III base oils is expected to grow in 2016 and this will give international suppliers a competitive advantage.

The ICIS China Base Oils/Lubes Annual Report covers a comprehensive review of the country’s domestic market, outlines recent developments and gives you a forecast of supply and demand up to 2020.

To give you a glimpse of the report, here are some snapshots from the market commentary:

China’s Top 10 Base Oils Importers

China’s Top 10 Base Oils Importers

With Shell and ExxonMobil leading the 2015 domestic importers list, who will emerge at the top for 2016? Will these players continue to hold their position?

Forecast of China's Base Oils Apparent Consumption (2016-2020)

Forecast of China's Base Oils Apparent Consumption (2016-2020)

China’s base oils apparent consumption is expected to rise by 1.5% year on year to 7.78m tonnes in 2016, and it is estimated at around 8.28m tonnes in 2020, paving the way for import opportunities in the near future.

Forecast of China's Base Oils Consumption by Spec (2016)

Forecast of China's Base Oils Consumption by Spec (2016)

China’s apparent consumption of Group I domestic base oils appears to be smaller than the consumption for Group II grades, which means there is greater demand from producers of lubricants for gasoline-fuelled engines.

Given China’s prominent role in the base oils landscape, the ICIS China Base Oils/Lubes Annual Report includes a comprehensive review of the domestic base oils market – with a detailed supply/demand outlook up to 2020. As a subscriber of this report, you will receive all of the following:

  • Comprehensive market overview of the domestic Chinese base oils market
  • China’s lubricant production by region
  • Demand application for imports and prominent base oils demand segments
  • Supply and demand forecast up to 2020 including base oils demand, imports and exports
  • Half-year update of market performance against projections as well as supply and demand forecast

Enquire about the full report now


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China Base Oils/Lubes Annual Report

Combining local insight with a global perspective, the China Base Oils Annual Report is a must-have resource that will address all of the following questions posed by market participants:

  • What are the key growth sub-sectors where international suppliers have a competitive edge?
  • How will exporters be affected by the entrance of base oils consumers to the list of top 10 importers?
  • How can these exporters change their strategies to effectively reach out to the right downstream customers?
  • How will the second half of 2016 fare and what are the key drivers and opportunities to achieve higher margins?

Enquire about the China Base Oils/Lubes Annual Report