Please Wait.....
Report
Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 120 Pages I Mordor Intelligence
The Lubricants Market size is estimated at 39.27 billion liters in 2025, and is expected to reach 43.74 billion liters by 2030, at a CAGR of 2.18% during the forecast period (2025-2030).
In 2020, the lubricants market faced setbacks due to global supply chain disruptions caused by COVID-19. The pandemic led to shutdowns of numerous factories supplying essential raw materials, such as base oil and additives, to the lubricants industry. Nevertheless, buoyed by a positive automotive industry outlook and consistent advancements in the oil and gas sector, the lubricants market is expected to experience modest yet positive growth in the coming years.
Key Highlights
- Over the short term, the surging vehicle population and robust growth of investments in the power generation sector are the major factors driving the demand for the market studied.
- However, stringent regulations amidst growing environmental concerns are expected to hinder the market's growth.
- Nevertheless, the growing adoption of bio-lubricants is expected to create new opportunities for the market studied.
- Asia-Pacific region is expected to dominate the market across the world, with the majority of demand coming from China and India.
Lubricants Market Trends
Automotive and Other Transportation Segment to Dominate the Market
- Automotive and other transportation sectors, including aircraft and marine, dominate the lubricant market.
- The automotive sector stands out as one of the primary consumers of lubricants, which are crucial for ensuring smooth vehicle operation. The lubricants also help clean and cool down the engine parts and prevent them from buildup of rust and corrosion.
- In the automotive sector, various lubricants such as engine oil, transmission oil, hydraulic oil, greases, and other lubricants are used in commercial vehicles and motorcycles, which will drive the lubricants industry.
- Light-duty vehicles, encompassing two-wheelers and passenger cars, predominantly use engine oils, gear oils, transmission oils, greases, and compressor oils. Both OEMs and the aftermarket show a strong preference for these lubricants.
- Growing demand for lightweight, high-performance cars in emerging markets, increasing automotive hubs, and rising disposable income are the major reasons for the high demand for lubricants.
- In 2023, global new vehicle sales saw a robust growth of 11.9% over 2022, totaling over 92.7 million units, as reported by the Organisation Internationale des Constructeurs d'Automobiles (OICA). Specifically, new passenger vehicle sales climbed by 11.3% year-over-year, hitting 65.3 million units, up from 58.6 million in 2022. Concurrently, new commercial vehicle registrations worldwide rose to 27.5 million units in 2023, marking a notable 13.3% increase from the 24.2 million units recorded in 2022.
- In North America, motor vehicle sales in 2023 accounted for 19.19 million units, an increase of 13.4% compared to 2022's sales, which was reported to be 16.93 million units, according to the OICA. Out of the total 19.19 million units, passenger cars accounted for 3.98 million units, commercial vehicles made up 15.21 million units, and the remaining units were a combination of heavy trucks, buses, and coaches.
- Furthermore, as per the data from the European Automobile Manufacturers Association, in Europe, the overall registration of new motor vehicles increased by 18.7% in 2023 compared to the previous year. In 2023, passenger car and commercial vehicle sales reached 15 million units and 2.90 million units, respectively, compared to 12.64 million units and 2.44 million units in 2022.
- Given these dynamics, the market is poised for significant growth during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region led the global market share. As countries like China, India, and Japan ramp up their wind power initiatives and bolster automotive production, the demand for lubricants in the region is on the rise.
- China stands out as a global powerhouse, both in lubricant consumption and production. Major players shaping China's lubricant landscape include Shell Plc, Sinopec, ExxonMobil Corporation, and BP Plc. The sector's growth was bolstered by heightened investments and expansions throughout the forecast period.
- In June 2024, Shell completed a significant expansion at its grease manufacturing plant in Bangkok, tripling its production capacity. This enhancement positions the plant to meet half of Thailand's grease demand, boosting its annual output from 5,000 to 15,000 metric tons.
- In September 2023, McDonch Petrochemical Co. unveiled plans for a new blending plant in Tianjin, China, targeting an annual production of 50,000 finished lubricant products.
- China's automotive sector, driven by a burgeoning vehicle fleet and tech advancements, emerges as the top lubricant consumer. 2023 saw both sales and production of automobiles in China hit a record 30 million units, marking a notable double-digit growth from the prior year, as highlighted by the China Association of Automobile Manufacturers (CAAM).
- In 2023, India's passenger vehicle sales surpassed the 4 million milestone for the first time, fueled by increasing disposable incomes, a boom in new sport-utility vehicles, and attractive loan rates. The domestic market recorded sales of over 4.1 million cars, sedans, and utility vehicles, marking an 8.2% rise from the previous year's 3.79 million, according to the Society of Indian Automobile Manufacturers (SIAM). Significantly, utility vehicles made up 57.4% of the overall sales.
- Moreover, with economies increasingly leaning towards renewable energies like wind, the Asia-Pacific's offshore wind installations are set for a significant uptick. The Global Wind Energy Council (GWEC) projects a 225.4% growth in the region's offshore wind installation volume by 2029, compared to 2022. This surge is poised to amplify the wind power industry's lubricant demand during the forecast period.
- Given these dynamics, lubricant consumption in the Asia-Pacific is set to rise, ensuring the region's continued market dominance.
Lubricants Industry Overview
The Global lubricants market is consolidated in nature. The major players (not in any particular order) include Shell PLC, Exxon Mobil Corporation, BP PLC (Castrol), TotalEnergies, and Chevron Corporation, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Surging Vehicle Population to Drive the Demand for Lubricants
4.1.2 Robust Growth of Investments in the Power Generation Sector
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Stringent Regulations Amidst Growing Environmental Concerns
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Group
5.1.1 Group I
5.1.2 Group II
5.1.3 Group III
5.1.4 Group IV
5.1.5 Group V
5.2 Base Stock
5.2.1 Mineral Oil Lubricant
5.2.2 Synthetic Lubricant
5.2.3 Semi-synthetic Lubricant
5.2.4 Bio-based Lubricant
5.3 Product Type
5.3.1 Engine Oil
5.3.2 Transmission and Hydraulic Fluid
5.3.3 Metalworking Fluid
5.3.4 General Industrial Oil
5.3.5 Gear Oil
5.3.6 Grease
5.3.7 Process Oil
5.3.8 Other Product Types
5.4 End-user Industry
5.4.1 Power Generation
5.4.2 Automotive and Other Transportation
5.4.3 Heavy Equipment
5.4.4 Food and Beverage
5.4.5 Metallurgy and Metalworking
5.4.6 Chemical Manufacturing
5.4.7 Other End-user Industries (Packaging, Oil and Gas)
5.5 Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 Malaysia
5.5.1.6 Thailand
5.5.1.7 Indonesia
5.5.1.8 Vietnam
5.5.1.9 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 France
5.5.3.4 Italy
5.5.3.5 Spain
5.5.3.6 NORDIC countries
5.5.3.7 Turkey
5.5.3.8 Russia
5.5.3.9 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Colombia
5.5.4.4 Rest of South America
5.5.5 Middle-East
5.5.5.1 Saudi Arabia
5.5.5.2 Qatar
5.5.5.3 United Arab Emirates
5.5.5.4 Nigeria
5.5.5.5 Egypt
5.5.5.6 South Africa
5.5.5.7 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BP PLC
6.4.2 Chevron Corporation
6.4.3 China National Petroleum Corporation (CNPC)
6.4.4 China Petroleum & Chemical Corporation (Sinopec)
6.4.5 ENEOS Corporation
6.4.6 Exxon Mobil Corporation
6.4.7 FUCHS
6.4.8 Hindustan Petroleum Corporation Limited
6.4.9 Idemitsu Kosan Co. Ltd
6.4.10 Indian Oil Corporation Ltd
6.4.11 LUKOIL
6.4.12 MOTUL
6.4.13 Petromin
6.4.14 PETRONAS Lubricants International
6.4.15 Phillips 66 Company
6.4.16 PT Pertamina Lubricants
6.4.17 Repsol
6.4.18 Shell PLC
6.4.19 TotalEnergies
6.4.20 Valvoline (Saudi Aramco)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Adoption of Bio-lubricants
7.2 Other Opportunities
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security