Highlights
In 2019, China’s base oil market prices were generally at low levels. In H1, 2019, the price of Group I 150N base oil fell by 8.88% Y-O-Y. The international crude oil prices showed an “N”-shape trend. The dealing prices of 150N base oil basically moved as the price trend of the crude oil. After the crude oil prices fell sharply, the average price of the 150N base oil market dropped rapidly. The domestic capacity of base oil increased intensively. In H1, 2019, there were four sets of newly added base oil units, with a total new capacity of 1.79 million mt/a. The domestic base oil capacity was 11.96 million mt/a, and the oversupply became more and more serious. In terms of domestic demand, the growth rate of the downstream demand slowed down, and the reform of the domestic lubricant industry gradually accelerated. In the later stage, the high-end products will flood the domestic lubricant market. The supply continued to increase, and the demand was stable-to-decreasing, so the contradiction between supply and demand in the base oil market was prominent. In 2019, the supply pressure still flooded the base oil market.
The white oil industry was soft, and prices fell sharply from 2018. The international crude oil prices was unstable, which cannot give a strong support to the white oil market. Besides, the newly added capacity at some refineries was continuously released, and the market was under overcapacity. Therefore, the white oil market suffered oversupply. The low-viscosity resources in the refineries were tight, supporting the white oil market. The sales of medium-high viscosity resources were not good. The end remained flat, and the downstream resources were slowly consumed. The macroeconomic environment, Sino-U.S. trade friction, the depreciation of RMB and the increase in import costs also had some pressure on the white oil market.
In 2020, the resources consumption will be the key issue in the base oil industry, and the market competition will become fiercer. The domestic base oil resources become more sufficient, and the quality index and stability of some Group II base oil are good. The downstream blending enterprises prefer to seek substitution of the same quality and low-priced products, which will further inhibit the consumption of low-viscosity resources. As the economy enters a new normal, the growth rate of downstream industries will decline, which will also affect the development of the lubricant industry.
Based on the original data monitored by SCI, the report will make a detailed analysis on China’s lubricant and base oil markets in line with those authentic data from China’s National Bureau of Statistics, China’s General Administration of Customs, National Development and Reform Commission, etc. This report includes the comprehensive analysis of related data and the fundamentals, which can systematically present the development status and future development trend of China’s lubricant and base oil markets. Ultimately, the report will provide valuable guidance for market participants.
Report value:
1. Analysis of the evolution and future development of China’s base oil supply-demand pattern.
2. To present detailed and accurate first-hand data and quantitatively analyze the industry status.
3. To analyze the price drivers via multiple angles and objectively assess the transmission of the lubricant and base oil value chain.
4. To deeply comprehend the industrial hotpots and their causes and impacts.
Contents
Part 1 2019 Lubricant and Base Oil Market Overview
Part 2 2015-2019 Lubricant and Base Oil Market Supply-Demand Balance Analysis
Part 3 2019 Lubricant and Base Oil Supply Pattern Analysis
3.1 2019 Lubricant and Base Oil Capacity Analysis
3.1.1 2019 Lubricant and Base Oil Unit Capacity Analysis
3.1.2 Newly Added Base Oil Unit Introduction
3.2 2019 Lubricant and Base Oil Output Analysis
3.2.1 2019 Lubricant and Base Oil Output Statistics and Analysis
3.2.2 2015-2019 Lubricant and Base Oil Output Comparison Analysis
3.3 2019 Lubricant and Base Oil Import Analysis
3.3.1 2019 Lubricant and Base Oil Import Volume Statistics and Analysis
3.3.2 2015-2019 Lubricant and Base Oil Import Volume Comparison Analysis
3.3.3 2019 Lubricant and Base Oil Import Detail Analysis
3.4 2019 Lubricant Import Analysis
3.4.1 2019 Lubricant Import Volume Statistics and Analysis
3.4.2 2015-2019 Lubricant Import Volume Comparison Analysis
3.4.3 2019 Lubricant Import Detail Analysis
3.5 Storage and Logistics Industry Development Analysis
3.6 2020 Lubricant and Base Oil Supply Forecast
Part 4 2019 Lubricant and Base Oil Demand Pattern Analysis
4.1 2019 Lubricant Output Analysis
4.1.1 2019 Lubricant Output Statistics and Analysis
4.1.2 2015-2019 Lubricant Output Comparison Analysis
4.2 2019 Lubricant and Base Oil Export Analysis
4.2.1 2019 Lubricant and Base Oil Export Volume Statistics and Analysis
4.2.2 2015-2019 Lubricant and Base Oil Export Volume Comparison Analysis
4.3 2019 Lubricant Export Analysis
4.4 Base Oil Downstream Consumption Structure Analysis
4.5 Base Oil Consumption Slack Season and Peak Season Analysis
4.6 2020 Lubricant and Base Oil Demand Forecast
Part 5 2019 Whit Oil Market and Supply-Demand Pattern Analysis
5.1 2019 China White Oil Market Overview
5.2 2019 China White Oil Supply-Demand Balance Analysis
5.3 China White Oil Supply Pattern Analysis
5.3.1 2019 China White Oil Capacity Change and Reason Analysis
5.3.2 2019 China White Oil Output/Operating Rate Change Trend and Reason Analysis
5.3.3 2019 White Oil Import Volume Change Trend, Change Reason and Import Structure Analysis
5.3.4 Storage and Logistics Analysis
5.3.5 2020 White Oil Supply Forecast
5.4 2019 China White Oil Demand Pattern Analysis
5.4.1 China White Oil Actual Consumption Volume Change Trend and Reason Analysis
5.4.2 China White Oil Consumption Structure Analysis by Industry
5.4.3 China White Oil Consumption Structure Analysis by Region
5.4.4 China White Oil Downstream Industry Scale and Demand Change Analysis
5.4.5 2020 China Downstream Consumption Region and Growth Forecast
5.4.6 White Oil Product Demand Slack Season and Peak Season Analysis
5.4.7 Operator Operational Risk and Barrier Analysis
Part 6 2019 Lubricant and Base Oil Price Trend Analysis
6.1 2019 China Lubricant and Base Oil Market Price Analysis
6.1.1 2019 Group I Lubricant and Base Oil Market Price Analysis
6.1.2 2019 Group II Lubricant and Base Oil Market Price Analysis
6.1.3 2019 Vacuum Cut Distillate Oil Market Price Analysis
6.2 2019 Lubricant and Base Oil Import Market Price Trend Analysis
6.2.1 2019 Asian Lubricant and Base Oil Market Analysis
6.2.2 2019 Southeast Asian Lubricant and Base Oil Market Analysis
6.2.3 2019 Middle Eastern/South Asian Lubricant and Base Oil Market Analysis
6.2.4 2019 Northeast Asian Lubricant and Base Oil Market Analysis
6.2.5 2019 American Lubricant and Base Oil Market Analysis
6.2.6 2019 European Lubricant and Base Oil Market Analysis
Part 7 2020 Lubricant and Base Oil Price Forecast and Driving Factor Analysis
7.1 2020 Lubricant and Base Oil Market Price Trend Forecast
7.2 Macro-Economy Environment Interpretation and the Effect on Lubricant and Base Oil Market Forecast
7.3 Industrial and National Policies Effect on Lubricant and Base Oil Market Forecast
7.4 2020-2024 Lubricant and Base Oil Supply-Demand Balance Pattern Forecast
7.5 Lubricant and Base Oil Production Technology Developing Direction Analysis
7.6 Future Effect of Feedstock and Related Products Change on Lubricant and Base Oil Market Forecast
7.7 Market Competition Forecast
Appendix
I. Annual Hotspot and 2019 Chronicle
II. Methodology and Related Definition
III. Distributor List of Base Oil and White Oil
IV. Tables & Charts
V. Related Products Annual Reports
2019-2020 Global Crude Oil Market Annual Report
Legal Statement