Top 10 Companies in the Lubricating Oil Group I II III IV V API Viscosity Grade Market (2026): Market Leaders Powering Global Lubricants

MARKET INSIGHTS

Global Lubricating Oil Group I, II, III, IV, and V API Viscosity Grade market size was valued at USD 42.18 billion in 2025. The market is projected to grow from USD 43.76 billion in 2026 to USD 58.94 billion by 2034, exhibiting a CAGR of 3.8% during the forecast period.

Lubricating Oil Group I II III IV V API Viscosity Grade Market – View in Detailed Research Report

Lubricating oils classified under API base oil groups – Group I through Group V – are refined or synthesized petroleum‑derived fluids categorized by the American Petroleum Institute (API) based on their saturate content, sulfur levels, and viscosity index. Group I base oils are solvent‑refined with lower purity, while Groups II and III are hydrotreated or hydrocracked for improved oxidation stability. Group IV encompasses fully synthetic polyalphaolefins (PAO), and Group V covers all other base stocks, including esters and naphthenics, used in specialty formulations across automotive, industrial, and marine applications.

The market is witnessing steady expansion driven by rising global vehicle production, stringent engine efficiency standards, and a growing shift toward higher‑quality synthetic and semi‑synthetic lubricants. Furthermore, increasing industrialization across emerging economies and the expanding demand for energy‑efficient lubricants in heavy machinery and automotive sectors are reinforcing this growth trajectory. Key players operating in this market include ExxonMobil Corporation, Shell plc, Chevron Phillips Chemical Company, TotalEnergies SE, and bp p.l.c., each maintaining broad portfolios spanning multiple API viscosity grades.

1️⃣ ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Group I‑IV base oils for automotive, industrial, and marine applications

ExxonMobil is one of the world’s leading lubricant manufacturers, with a comprehensive portfolio that spans the entire API base oil spectrum. Their advanced Group III and IV base stocks are widely adopted in high‑performance engine oils, hydraulic fluids, and specialty formulations for aerospace and marine markets.

Sustainability & Growth Initiatives:

• Investing in low‑carbon lubricant formulations and renewable feedstocks
• Commitment to reduce CO₂ emissions across the value chain by 2030
• Partnerships with OEMs to develop high‑efficiency, low‑viscosity oils

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2️⃣ Shell plc

Headquarters: London, United Kingdom / Netherlands
Key Offering: Group II‑III base oils, high‑performance additives, and specialty lubricants

Shell’s lubricant division supplies a broad range of API base oils, focusing on advanced Group III formulations that deliver superior oxidation stability and low volatility for modern downsized engines.

Sustainability & Growth Initiatives:

• Development of bio‑based esters for Group V applications
• Targeting 10% renewable content in lubricants by 2035
• Investment in digital lubrication solutions and predictive maintenance

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3️⃣ Chevron Phillips Chemical Company

Headquarters: San Ramon, California, USA
Key Offering: Group II‑III base oils, advanced additive systems

Chevron Phillips Chemical is a leading producer of hydrotreated base oils, offering high‑performance lubricants for automotive, industrial, and marine sectors with a focus on sustainability and low‑viscosity grades.

Sustainability & Growth Initiatives:

• Partnerships with automotive OEMs for low‑friction engine oils
• Investments in renewable petrochemicals and green chemistry
• Commitment to circular economy through re‑refined base oils

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4️⃣ TotalEnergies SE

Headquarters: Paris, France
Key Offering: Group III‑IV base oils, high‑performance additives, and sustainable lubricants

TotalEnergies leverages its extensive refining network to produce premium Group III and IV base oils, catering to automotive OEMs and industrial customers seeking low‑viscosity, high‑efficiency solutions.

Sustainability & Growth Initiatives:

• Targeting 30% renewable content in lubricants by 2030
• Investing in bio‑based esters for Group V applications
• Developing digital lubrication services for predictive maintenance

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5️⃣ bp p.l.c.

Headquarters: London, United Kingdom
Key Offering: Group I‑III base oils, specialty additives, and eco‑friendly formulations

bp’s lubricant portfolio covers the full API base oil spectrum, with a strong focus on low‑viscosity, high‑performance oils for automotive and industrial applications.

Sustainability & Growth Initiatives:

• Investment in renewable feedstocks and bio‑based esters
• Commitment to zero‑emission operations by 2040
• Development of digital lubrication analytics platforms

Download FREE Sample Report: Lubricating Oil Group I II III IV V API Viscosity Grade Market – View in Detailed Research Report

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6️⃣ Saudi Aramco Base Oil Company (Luberef)

Headquarters: Saudi Arabia
Key Offering: Group I‑III base oils, high‑quality mineral oils for industrial and marine sectors

Luberef is a joint‑venture majority‑owned by Saudi Aramco, supplying large volumes of Group I and II base oils to the Middle East and global markets.

Sustainability & Growth Initiatives:

• Investment in hydroprocessing to enhance Group II and III production
• Commitment to reduce sulfur content in base oils
• Partnerships with OEMs for low‑viscosity, high‑performance formulations

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7️⃣ Neste Oyj

Headquarters: Espoo, Finland
Key Offering: Group III base oils, renewable lubricants, and bio‑based esters

Neste is a global leader in renewable lubricants, producing high‑quality Group III base oils from sustainable feedstocks and offering a range of bio‑based esters for Group V applications.

Sustainability & Growth Initiatives:

• Targeting 100% renewable content in lubricants by 2030
• Investing in bio‑refining technologies for re‑refined base oils
• Partnerships with OEMs for low‑viscosity, high‑efficiency oils

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8️⃣ INEOS Oligomers

Headquarters: United Kingdom
Key Offering: Group IV PAO base oils for high‑performance applications

INEOS Oligomers is a leading producer of polyalphaolefin (PAO) base oils, supplying premium lubricants for automotive, aerospace, and high‑temperature industrial sectors.

Sustainability & Growth Initiatives:

• Investment in advanced PAO synthesis to improve viscosity index
• Development of low‑emission production processes
• Collaboration with OEMs on high‑efficiency, low‑viscosity oils

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9️⃣ Croda International plc

Headquarters: United Kingdom
Key Offering: Group V ester base oils for specialty and high‑performance applications

Croda International is a specialist chemical company producing high‑quality ester‑based Group V base oils used in aerospace, marine, and high‑performance industrial lubricants.

Sustainability & Growth Initiatives:

• Development of biodegradable ester formulations
• Partnerships with OEMs for low‑viscosity, high‑efficiency oils
• Investment in green chemistry and circular economy practices

Download FREE Sample Report: Lubricating Oil Group I II III IV V API Viscosity Grade Market – View in Detailed Research Report

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🔟 Nyco S.A.S.

Headquarters: France
Key Offering: Group V ester base oils for high‑performance and specialty lubricants

Nyco is a leading producer of ester‑based Group V base oils used in high‑performance automotive, aerospace, and marine applications.

Sustainability & Growth Initiatives:

• Investment in bio‑based ester technologies
• Commitment to reduce environmental impact of lubricant production
• Partnerships with OEMs for low‑viscosity, high‑efficiency oils

Download FREE Sample Report: Lubricating Oil Group I II III IV V API Viscosity Grade Market – View in Detailed Research Report

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Outlook: The Future of Lubricating Oil Group I II III IV V API Viscosity Grade Market

The market is expected to continue its upward trajectory, driven by the convergence of stringent emission regulations, the global shift toward electric and hybrid vehicles, and the increasing demand for high‑performance synthetic lubricants across automotive and industrial sectors. Technological advancements in additive chemistry, digital lubrication solutions, and sustainability initiatives are poised to shape the next generation of lubricants, enabling longer drain intervals, reduced fuel consumption, and lower environmental impact.

Future Trends Shaping the Market

• Accelerated adoption of Group III and IV base oils in passenger and heavy‑duty engines
• Growth of electric vehicle thermal management fluids and specialized Group V e‑fluids
• Digitalization and condition‑based monitoring for predictive maintenance
• Expansion of re‑refined and bio‑based base oil solutions driven by circular economy mandates
• Continued focus on low‑viscosity, high‑efficiency formulations to meet fuel‑economy targets