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Lubricants Market in 2025 Detailed Study Analysis
The global Lubricants market is estimated to reach over USD 205.9 billion by 2034, exhibiting a CAGR of 3.9% during the forecast period.
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The global automotive lubricants market has undergone significant transformations due to the COVID-19 pandemic, shifting consumer preferences, and technological advancements. These changes have influenced both the demand for high-performance lubricants and the emergence of bio-based alternatives.
The COVID-19 pandemic severely disrupted the global automotive supply chain, leading to abrupt halts in vehicle manufacturing and sales across various regions. This disruption resulted in a substantial decline in vehicle production, with millions of units not manufactured during the peak of the pandemic . The pandemic also exposed vulnerabilities in the supply chain, prompting manufacturers to reassess their sourcing strategies and inventory management practices.
List of Prominent Players in the Lubricants Market:
• Amsoil Inc.
• Blaser Swisslube Inc.
• BP PLC.
• Buhmwoo Chemical Co. Ltd.
• Castrol India Ltd.
• Chevron Corporation,
• China Petrochemical Corp.
• ExxonMobil Corp.
• Fuchs Petrolub AG,
• Gazprom Neft,
• Idemitsu Kosan Co. Ltd.
• JX Nippon Oil & Gas Exploration Corp.
• Lukoil
• Pertaminaa
• Petrobras
• Petrochina Company Ltd,
• PetroFer Chemie
• Petronas Lubricant International
• Philips 66 Company
• Quaker Chemical Corp.
• Royal Dutch Shell Co.
• Sinopec Ltd.,
• Total S.A.,
• Valvoline LLC
• Zeller Gmelin Gmbh & Co. KG
Market Dynamics:
Drivers-
The global lubricants market is experiencing growth driven by the increasing adoption of bio-based lubricants across various industries. These lubricants, derived from renewable resources, offer higher biodegradability compared to conventional petroleum-based products, aligning with the global emphasis on environmental sustainability. Industries such as automotive and manufacturing rely on lubricants to ensure the smooth operation of engines and machinery. Additionally, the rise in international trade of piston engine lubricants contributes to market expansion.
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Challenges:
Despite the positive growth trajectory, the lubricants market faces challenges due to the increasing popularity of hybrid and electric vehicles (EVs). EVs require fewer lubricants, leading to a decline in demand for traditional engine oils. According to the International Energy Agency (IEA), electric vehicle sales doubled in 2021 to approximately 6.6 million units, representing 10% of global new car sales. China accounted for 16% of global electric car sales, with over 3.3 million new registrations in 2021.
Regional Trends:
The Asia-Pacific region holds a dominant position in the global lubricants market, driven by robust automotive manufacturing industries in countries like China, India, and Japan. China, in particular, is a significant contributor, with a production of 26,082,220 automobiles in 2021, as reported by the China Association of Automobile Manufacturers (CAAM). The region's growing demand for wind energy and the expansion of the power generation sector also bolster lubricant consumption. India is expected to register the highest compound annual growth rate (CAGR) in the Asia-Pacific lubricants market from 2024 to 2030, reflecting the country's rapid industrialization and increasing vehicle ownership.
Recent Developments:
• In June 2021, In order to establish a Petrochemical and Lube Integration (LuPech) Project, an Acrylics/Oxo Alcohol Project, and additional infrastructure projects at its Gujarat Refinery in Vadodara, IOCL and the Government of Gujarat inked an MOU for "Investment Promotion."
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Segmentation of Lubricants Market-
By Base Oil-
• Mineral Oil
• Synthetic Oil
o PAO
o PAG
o Esters
o Group III
• Bio-based Oil
By Product Type-
• Engine Oil
• Hydraulic Oil
o HL
o HLP
o HLP-D
o Fire Resistant
• Metalworking Fluid
o Removal
o Protective
o Forming
o Treating
• Gear Oil
o Rust & Corrosion inhibited gear oil
o Compounded gear oil
o Extreme pressure gear oil
• Compressor Oil
• Grease
o Metallic Soap Thickener
o Lithium
o Calcium
o Aluminum
o Sodium
o Other Metallic Soap
o Non-Soap Thickener
o Inorganic Thickener
o Clay
o Silica
o Other Thickeners
• Turbine Oil
• Others
o Transformer Oil
o Refrigeration Oil
o Textile Machinery Lubricants
By End-Use Industry-
• Transportation
o Commercial Vehicles
o Passenger Vehicles
o Aviation
o Railways
o Marine
o Biotech
• Industrial
o Construction
o Mining
o Cement Production
o Power Generation
o Automobile Manufacturing
o Chemical
o Oil& Gas
o Textile
o Food Processing
o Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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