The Group III/III+ Paradox: More Capacity in a Surplus Market

Group III/III+ base oil supply keeps growing despite a surplus. Is the market ready?

New Group III/III+ base oil capacity is coming online in different parts of the world, including in India, the United States, Germany, and South Korea. Not because the world needs more supply, but because these players are chasing local logic. The result? A global surplus that will grow even bigger. This will reshape competition, pricing, and strategy.

What makes this even more inexplicable is that the biggest demand driver for Group III/III+, PCMO, is impacted by growing electrification in different parts of the world. While producers are exploring opportunities in white oils and immersion cooling, demand growth remains challenging. What then explains the supply growth?

In this webinar, we unpack the contradictions shaping the Group III/III+ landscape and offer a strategic lens to navigate what’s next. Backed by proprietary data and scenario-based forecasting, we explore:

• The regional logic behind new supply and its global consequences
• How Group III/III+ can grow in a shrinking PCMO world
• What is driving competition and how players can differentiate themselves
• Why “secondary” markets such as immersion cooling may be tomorrow’s growth engines