Press release
Key Trend Reshaping the Lubricants Market in 2025: New Synthetic Oils Enhance Engine Protection, Performance And Durability In Extreme Conditions
Lubricants Market Size
The lubricants market has experienced steady growth in recent years. It is projected to expand from $156.67 billion in 2024 to $162.46 billion in 2025, with a compound annual growth rate (CAGR) of 3.7%. This growth in the past period can be attributed to industrialization, mechanization, the expansion of the automotive sector, technological innovations in lubricant formulations, the globalization of trade and transportation, and the increasing demand from manufacturing industries.
The lubricants market will grow to $184.2 billion by 2029, driven by the expanding automotive fleet and aviation & marine industries. Key trends include eco-friendly lubricants, advanced technologies like nanotech, and online sales expansion.
What Are the Main Catalysts for Growth in the Lubricants Market?
The expansion of the automotive industry is expected to drive the growth of the lubricants market. The automotive industry involves the design, development, manufacturing, marketing, and sale of motor vehicles, and lubricants are essential for reducing friction and wear between engine components, ensuring smooth operation, and extending engine life. In February 2023, the European Automobile Manufacturers Association (ACEA) reported that 85.4 million motor vehicles were produced globally in 2022, marking a 5.7% increase from 2021. Additionally, the International Energy Agency (IEA) reported in January 2022 that sales of electric vehicles (including PHEVs and BEVs) reached 6.5 million units in 2021, rising to 10.2 million units in 2022. Therefore, the expansion of the automotive industry is driving the lubricants market's growth.
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Which Businesses Are at the Forefront of Lubricants Market Development?
Major companies operating in the lubricants market report are China Petroleum & Chemical Corporation, PetroChina Company Limited, ExxonMobil Corp., Shell PLC, Total Energies, BP PLC, Chevron Corp., Philips 66 Company, Petróleo Brasileiro S.A., ENEOS Corporation, Idemitsu Kosan Co. Ltd., Lukoil Oil Company, S-Oil Corporation, Calumet Specialty Products Partners L.P, Fuchs SE, Castrol Limited, Quaker Houghton, Valvoline Inc., Petronas Lubricant International, Gulf Oil Marine Ltd., Blaser Swisslube Inc., Amsoil Inc., Pennzoil, Zeller Gmelin Gmbh & Co. KG, Pennine Lubricants
How Is the Lubricants Market Evolving?
In the lubricants market, leading companies are launching specialized products like advanced marine and powersport oils to enhance engine protection and performance under extreme conditions. These oils are designed for marine engines and off-road vehicles. For instance, in September 2023, Valvoline, a US-based company, introduced the Valvoline Full Synthetic 4-Stroke Marine Oil and Valvoline Ultimate Powersport Full Synthetic 4-Stroke Motor Oil. These oils provide enhanced protection, with the marine oil offering up to eight times better rust defense and 50% stronger wear protection, vital for engines exposed to saltwater. The Powersport oil is tailored for small engines in ATVs, UTVs, and personal watercraft, ensuring durability and optimal performance. Both oils feature cleaning agents that prevent dirt buildup in high-revving engines, enhancing engine longevity.
How Is the Lubricants Market Segmented?
The lubricants market covered in this report is segmented -
1) By Base Oil: Bio-Based Oil, Mineral Oil, Synthetic Oil
2) By Product Type: Automotive Oil, Hydraulic Oil, Gear Oil, Compressed Oil, Greases, Metal Working Fluid
3) By End User Vertical: Automotive, Industrial, Marine, Chemical, Oil And Gas, Aerospace, Others End Users
Subsegments:
1) By Bio-Based Oil: Vegetable Oils, Animal Fats, Ester-Based Oils
2) By Mineral Oil: Paraffinic Oils, Naphthenic Oils, Refining Techniques
3) By Synthetic Oil: PAO (Polyalphaolefins), Ester-Based Synthetic Oils, Group III Base Oils
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Where Is the Lubricants Market Growth Most Prominent?
Asia-Pacific was the largest region in the lubricants market in 2024. The regions covered in the lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Lubricants Global Market Report?
- Market Size Analysis: Analyze the Lubricants Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Lubricants Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Lubricants Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Lubricants Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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