The concentration of the special oil market continues to increase, and the development of the industry is shifting towards high-end and environmental protection.

Special oil is an oil product with special functions and used in special fields that is processed from specific high-quality crude oil through advanced refining technology. The added value of special oil is higher, but compared with conventional oil, the total output of special oil is lower. Special oils are widely used in aerospace, shipbuilding, automobiles, machinery, electronics, construction and other fields. With the rapid development of my country’s manufacturing industry, the market demand for special oils continues to be released, and the scale of the industry is expanding.

There are many types of special oil subdivision products, mainly divided into metal processing oil, special synthetic lubricating oil, steel plate rolling oil, special machinery lubricating oil, anti-rust oil, heat treatment oil, etc. There are many types of special oils, and market participants vary in size. As the supply-side structural reform continues to deepen, backward production capacity of special oils will exit the market, and the special oil market will gradually converge on leading companies.

In recent years, under the background of continuous improvement in mechanization level, upgrading of market demand and increasingly strict environmental protection supervision, my country’s special oil market has developed rapidly. While the types of special oil have been enriched, the quality has also been greatly improved. The special oil market has gradually become high-end and high-quality. Develop in the direction of environmentally friendly production and diversified categories.

According to the “2022-2026 Special Oil Industry In-depth Market Research and Investment Strategy Suggestions Report released by the Industrial Research Center, special oil There are a wide range of downstream applications. As my country’s economy continues to grow, the special oil market has maintained a continuous growth trend. By 2021, the scale of my country’s special oil market has reached 431.24 billion yuan, with an average annual compound growth rate of approximately 3.6% from 2017 to 2021.

As a high value-added oil product, the special oil industry has certain technical, resource, and financial barriers, and leading companies continue to consolidate their position through cost control, process optimization, etc., further raising the entry threshold for the special oil industry. In the international market, most of the suppliers of special oils are international oil giants, such as Royal Shell, Exxon Mobil, Fox Group, Nynas Oil, SK Corporation, etc.

In the domestic market, there are many special oil production companies, including Sinopec, PetroChina and their subsidiaries or affiliates, including CNOOC, Shandong Shida Technology Group and other companies. In the international market competition, domestic companies mostly rely on their advantages in cost and price to compete with foreign companies. From the perspective of enterprise distribution, domestic special oil enterprises are mainly concentrated in North China, the Pearl River Delta, the Yangtze River Delta and other regions, and the regional distribution of enterprises is obvious.

Industry analysts said that there are many types of special oils with a wide range of applications. In recent years, with the growth of my country’s economy, the number of special oils Market demand continues to be released, and the future development prospects of the industry are good. Competition in the specialty oil market is fierce, and small and medium-sized enterprises do not have competitive advantages in terms of scale, technology, and variety. As market demand escalates and the supply-side structural reform deepens, the specialty oil market will continue to converge on leading companies.