Lubricants Market: By Product Type (Engine Oil, Hydraulic Fluid, Metalworking Fluid, Others), By Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), By Application (Transportation, Industrial, Others) and By Geography  

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Lubricants Market size was valued at USD 130.5 billion in 2022 and is expected to reach USD 168.2 billion by 2029, at a CAGR of 4.1% during the forecast period 2023-2029. Increased demand for engines with high performance, demand for renewable energy and cost-effective manufacturing techniques act as drivers. Hybrid vehicle demand and rising parity in battery prices, raw material stringent auto regulations and norms rising demand for bio-based products act as restrain to the global market. Robust industrialization provides significant opportunity to global lubricants market. The report studies global lubricants market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.

Lubricants Market Key Developments:
  • In February 2019, Amalie Oil Co., a producer and distributor of lubricants completed the acquisition of Lubricating Specialities Co. (LSC).
  • In November 2019, Fuchs Group signed an agreement with Nye Lubricants, a company engaged in formulation and manufacturing of synthetic lubricants.

Lubricants Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

4.1%

Largest Market

Asia-Pacific

Fastest Growing Market

North America
Lubricants Market Dynamics

It is noticed that the global lubricants market has a significant market growth rate on perspective of increasing application in automotive industry. Automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, such as engines and bodies, but excluding tires, batteries, and fuel. The industrys principal products are passenger automobiles and light trucks, including pickups, vans, and sport utility vehicles. Commercial vehicles, though important to the industry, are secondary.

Key Features of the Reports

  • The lubricants market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis in addition to recent technology advancements and innovations in the market

Lubricants Market Segmentation

By Product Type
  • Engine Oil
  • Hydraulic Fluid
  • Metalworking Fluid
  • Others
By Application
  • Transportation
  • Industrial
  • Others
By Base Oil
  • Mineral Oil
  • Synthetic Oil
  • Bio-based Oil

Frequently Asked Questions

The lubricants market is projected to expand at a CAGR of 4.1% during the forecast period

Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), BP PLC (U.K.), Chevron Corporation (U.S.), Total S.A. (France), Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited (China), Fuchs Petrolub AG (Germany)

North America is the fastest-growing region for lubricants market

1. Executive Summary
2. Global Lubricants Market Introduction
2.1. Global Lubricants Market Taxonomy
2.2. Global Lubricants Market Definitions
2.2.1. Product Type
2.2.2. Base Oil
2.2.3. Application
3. Global Lubricants Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Lubricants Market Dynamic Factors - Impact Analysis
3.6. Global Lubricants Market Competition Landscape
4. Global Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Lubricants Market, By Product Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1. Engine Oil
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Hydraulic Fluid
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Metalworking Fluid
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global Lubricants Market Forecast, By Base Oil, 2018 - 2022 and Forecast, 2020 2026 (Revenue, USD Mn)
6.1. Mineral Oil
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Synthetic Oil
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Bio-based Oil
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Lubricants Market Forecast, By Application, 2018 - 2022 and Forecast, 2020 2026 (Revenue, USD Mn)
7.1. Transportation
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Industrial
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Others
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Lubricants Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Region, 2023 - 2029
9. North America Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
9.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Engine Oil
9.1.2. Hydraulic Fluid
9.1.3. Metalworking Fluid
9.1.4. Others
9.2. Base Oil Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.2.1. Mineral Oil
9.2.2. Synthetic Oil
9.2.3. Bio-based Oil
9.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Transportation
9.3.2. Industrial
9.3.3. Others
9.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2023 - 2029
9.6. North America Lubricants Market Dynamics Trends
10. Europe Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
10.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Engine Oil
10.1.2. Hydraulic Fluid
10.1.3. Metalworking Fluid
10.1.4. Others
10.2. Base Oil Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Mineral Oil
10.2.2. Synthetic Oil
10.2.3. Bio-based Oil
10.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Transportation
10.3.2. Industrial
10.3.3. Others
10.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Poland
10.4.8. Rest of Europe
10.5. Europe Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2023 - 2029
10.6. Europe Lubricants Market Dynamics Trends
11. Asia-Pacific Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
11.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Engine Oil
11.1.2. Hydraulic Fluid
11.1.3. Metalworking Fluid
11.1.4. Others
11.2. Base Oil Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Mineral Oil
11.2.2. Synthetic Oil
11.2.3. Bio-based Oil
11.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Transportation
11.3.2. Industrial
11.3.3. Others
11.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. Japan
11.4.2. China
11.4.3. India
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2023 - 2029
11.6. Asia-Pacific Lubricants Market Dynamics Trends
12. Latin America Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
12.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Engine Oil
12.1.2. Hydraulic Fluid
12.1.3. Metalworking Fluid
12.1.4. Others
12.2. Base Oil Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Mineral Oil
12.2.2. Synthetic Oil
12.2.3. Bio-based Oil
12.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Transportation
12.3.2. Industrial
12.3.3. Others
12.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2023 - 2029
12.6. Latin America Lubricants Market Dynamics Trends
13. Middle East and Africa Lubricants Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
13.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Engine Oil
13.1.2. Hydraulic Fluid
13.1.3. Metalworking Fluid
13.1.4. Others
13.2. Base Oil Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. Mineral Oil
13.2.2. Synthetic Oil
13.2.3. Bio-based Oil
13.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Transportation
13.3.2. Industrial
13.3.3. Others
13.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. Israel
13.4.3. South Africa
13.4.4. Rest of MEA
13.5. MEA Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2023 - 2029
13.6. MEA Lubricants Market Dynamics Trends
14. Competition Landscape
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Royal Dutch Shell (Netherlands)
14.2.2. ExxonMobil (U.S.)
14.2.3. BP PLC (U.K.)
14.2.4. Chevron Corporation (U.S.)
14.2.5. Total S.A. (France)
14.2.6. Petrochina Company Limited (China)
14.2.7. Idemitsu Kosan Co. Ltd. (Japan)
14.2.8. Sinopec Limited (China)
14.2.9. Fuchs Petrolub AG (Germany)
14.2.10. Valvoline (U.S.)
14.2.11. Lukoil (Russia)
14.2.12. Petronas (Malaysia)
14.2.13. Gazprom Neft (Russia)
14.2.14. Pertamina (Indonesia)
15. Research Methodology
16. Key Assumptions and Acronyms
  • Royal Dutch Shell (Netherlands)
  • ExxonMobil (U.S.)
  • BP PLC (U.K.)
  • Chevron Corporation (U.S.)
  • Total S.A. (France)
  • Petrochina Company Limited (China)
  • Idemitsu Kosan Co. Ltd. (Japan)
  • Sinopec Limited (China)
  • Fuchs Petrolub AG (Germany)
  • Valvoline (U.S.)
  • Lukoil (Russia)
  • Petronas (Malaysia)
  • Gazprom Neft (Russia)
  • Pertamina (Indonesia)

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