Lubricants Market Size, Share & Trends Analysis Report By Application (Automotive, Industrial, Marine, Aerospace), By Region, And Segment Forecasts, 2024 - 2030

Lubricants Market Size, Share & Trends Analysis Report By Application (Automotive, Industrial, Marine, Aerospace), By Region, And Segment Forecasts, 2024 - 2030


Lubricants Market Growth & Trends

The global lubricants market size is expected to reach USD 180.21 billion by 2030, registering a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc. Growth in demand for biobased lubes owing to their eco-friendly characteristics is poised to pave way for higher demand over the coming years. Furthermore, the manufacturers are shifting and expanding their production units in developing nations owing to various factors, such as availability of raw materials and reduced infrastructure & labor costs. This, in turn, is anticipated to boost the market growth over the forecast period. Typical oil manufacturers use crude oil, CBM, tight oil, and other additives to formulate all types of lubricants.

Technological advancements have led to the reduction of combustion engine-based vehicles, and countries, such as Norway and the Netherlands, have imposed strict regulations against the approval of any combustion engine-based vehicles. Major companies, such as Shell, Total, Chevron, ExxonMobil, BP, and Sinopec, have integrated their business operations globally. Increasing passenger car sales in the emerging markets of Asia Pacific and Latin America is expected to be a major factor driving the consumer automotive lubricants market growth over the forecast period. Growing sales of consumer automobiles, such as trucks, buses, and other forms of passenger transport, are expected to drive commercial automotive oil product demand.

Economic growth in emerging markets, such as China, India, and Brazil, has led to the betterment of public transportation in these regions. This trend is expected to further strengthen commercial automotive lubricant demand. The Asia Pacific automotive industry is anticipated to witness a high growth rate over the forecast period owing to rapid economic development, mega construction projects, and the introduction of various favorable policies by the government, such as 100% FDI and “Smart Cities”. Rapid industrial development and growing demand for high-performance luxurious passenger cars have also attracted heavy investments from international automotive players.

Companies, such as ExxonMobil and Chevron, are directly involved in the production of lubricants for specific applications, these companies are further involved in supply agreements with major end-users to ensure steady sales of lubricants. Companies, such as Total, Shell, Amsoil, and Castrol, have entered into exclusive supply agreements with Tata Motors & Vestas Wind Systems to supply their lubricant brands. Global as well as regional industry players are developing direct sales channels, especially for automotive lubricant users, at their local service centers. Some companies also participate in annual events of their end-users and showcase their products at offer prices.

Lubricants Market Report Highlights
  • The market is estimated significantly due to the increasing demand for automotive oils and greases on account of the growing trade of vehicles and their spare parts
  • Lubricants are majorly used as diesel engine oils, gearbox lubricants, and transmission oils in passenger cars, commercial vehicles, and motorcycle segments of the automotive sector. As per OICA, global motor vehicle production reached 85, 016,728 in 2022, which is anticipated to drive the product demand
  • The aerospace lubricants application segment will register the fastest CAGR from 2024 to 2030 due to the increasing air passenger traffic coupled with a significant rise in defense budgets across the globe
  • Gas turbine oil is a high-performance oil created to help gas turbines run more efficiently and reliably while also enhancing the safety and productivity of power plant operations
  • Asia Pacific dominated the market with a revenue share of 44.6% in 2023. A rising number of consumers is demanding advanced technological products with superior performance characteristics. This factor is conducive to market growth
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.4. Information Analysis
1.5. Market Formulation & Data Validation
1.6. Data Validation & Publishing
1.6.1. Research scope and assumption
1.6.2. List of data sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Lubricants: Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Lubricant industry outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw material trends
3.2.2. Manufacturing/Technology trends
3.2.2.1. Sedimentation
3.2.2.2. Fractionating
3.2.2.3. Filtering & Solvent extraction
3.2.2.4. Additives, inspection & packing
3.2.3. Sales channel analysis
3.2.4. Operational margin analysis
3.3. Technology Overview
3.3.1. Technology adaptation by key industry participants
3.4. Regulatory & Policy Landscape
3.5. Price Trend Analysis, 2018 - 2030
3.6. Lubricants Trade Analysis (HS Code: 3403 Lubricant Preparation)
3.6.1. Trade balance
3.6.2. Imports, by region & key countries, 2018 - 2022
3.6.3. Exports, by region & key countries, 2018 - 2022
3.7. Market Dynamics
3.7.1. Market drivers
3.7.2. Market restraint
3.7.3. Market opportunities
3.7.4. Market challenges
3.8. Industry Analysis Tools
3.8.1. Porter’s Analysis
3.8.2. Macro economic analysis
Chapter 4. Lubricants Market: Application Estimates & Trend Analysis
4.1. Application Movement Analysis & Market Share, 2023 & 2030
4.1.1. Industrial
4.1.1.1. Process oils
4.1.1.2. General industrial oils
4.1.1.3. Metalworking fluids
4.1.1.4. Industrial engine oils
4.1.1.5. Greases
4.1.1.6. Others
4.1.2. Automotive
4.1.2.1. Engine oil
4.1.2.2. Gear oil
4.1.2.3. Transmission fluids
4.1.2.4. Brake fluids
4.1.2.5. Coolants
4.1.2.6. Greases
4.1.3. Marine
4.1.3.1. Engine oil
4.1.3.2. Hydraulic oil
4.1.3.3. Gear oil
4.1.3.4. Turbine oil
4.1.3.5. Greases
4.1.3.6. Others
4.1.4. Aerospace
4.1.4.1. Gas turbines oils
4.1.4.2. Piston engine oils
4.1.4.3. Hydraulic fluids
4.1.4.4. Others
Chapter 5. Lubricants Market: Regional Estimates & Trend Analysis
5.1. Lubricants Market: Regional Outlook
5.2. North America
5.2.1. North America lubricants market estimates and forecast, 2018 - 2030 (Kilotons) (USD Million)
5.2.2. U.S.
5.2.2.1. Key country dynamics
5.2.2.2. U.S. lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.3. Canada
5.2.3.1. Key country dynamics
5.2.3.2. Canada lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.4. Mexico
5.2.4.1. Key country dynamics
5.2.4.2. Mexico lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3. Europe
5.3.1. Europe lubricants market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Millions)
5.3.2. Germany
5.3.2.1. Key country dynamics
5.3.2.2. Germany lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.3. UK
5.3.3.1. Key country dynamics
5.3.3.2. UK lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.4. Switzerland
5.3.4.1. Key country dynamics
5.3.4.2. Switzerland lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.5. France
5.3.5.1. Key country dynamics
5.3.5.2. France lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.6. Russia
5.3.6.1. Key country dynamics
5.3.6.2. Russia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.7. Italy
5.3.7.1. Key country dynamics
5.3.7.2. Italy lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.8. Spain
5.3.8.1. Key country dynamics
5.3.8.2. Spain lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.9. The Netherlands
5.3.9.1. Key country dynamics
5.3.9.2. The Netherlands lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4. Asia Pacific
5.4.1. Asia Pacific lubricants market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Millions)
5.4.2. China
5.4.2.1. Key country dynamics
5.4.2.2. China lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.3. India
5.4.3.1. Key country dynamics
5.4.3.2. India lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.4. Japan
5.4.4.1. Key country dynamics
5.4.4.2. Japan lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.5. South Korea
5.4.5.1. Key country dynamics
5.4.5.2. South Korea lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.6. Malaysia
5.4.6.1. Key country dynamics
5.4.6.2. Malaysia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.7. Indonesia
5.4.7.1. Key country dynamics
5.4.7.2. Indonesia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.8. Vietnam
5.4.8.1. Key country dynamics
5.4.8.2. Vietnam lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.9. Australia
5.4.9.1. Key country dynamics
5.4.9.2. Australia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.10. New Zealand
5.4.10.1. Key country dynamics
5.4.10.2. New Zealand lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.11. Kyrgyzstan
5.4.11.1. Key country dynamics
5.4.11.2. Kyrgyzstan lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5. Central & South America
5.5.1. Central & South America lubricants market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Millions)
5.5.2. Brazil
5.5.2.1. Key country dynamics
5.5.2.2. Brazil lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.3. Argentina
5.5.3.1. Key country dynamics
5.5.3.2. Argentina lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.4. Chile
5.5.4.1. Key country dynamics
5.5.4.2. Chile lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.5. Colombia
5.5.5.1. Key country dynamics
5.5.5.2. Colombia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6. Middle East & Africa
5.6.1. Middle East & Africa lubricants market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Millions)
5.6.2. Middle East
5.6.2.1. Iran
5.6.2.1.1. Key country dynamics
5.6.2.1.2. Iran lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2.2. Oman
5.6.2.2.1. Key country dynamics
5.6.2.2.2. Oman lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2.3. UAE
5.6.2.3.1. Key country dynamics
5.6.2.3.2. UAE lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2.4. Qatar
5.6.2.4.1. Key country dynamics
5.6.2.4.2. Qatar lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2.5. Kuwait
5.6.2.5.1. Key country dynamics
5.6.2.5.2. Kuwait lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2.6. Saudi Arabia
5.6.2.6.1. Key country dynamics
5.6.2.6.2. Saudi Arabia lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.3. Africa
5.6.3.1. South Africa
5.6.3.1.1. Key country dynamics
5.6.3.1.2. South Africa lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.3.2. Angola
5.6.3.2.1. Key country dynamics
5.6.3.2.2. Angola lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.3.3. Nigeria
5.6.3.3.1. Key country dynamics
5.6.3.3.2. Nigeria lubricants market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Competitive Analysis
6.1. Recent Development By Key Market Participants
6.2. Competitive Categorization
6.3. Company Market Share Analysis, 2023
6.4. Company Heat Map Analysis
6.5. Financial Performance
6.6. Product Benchmarking
6.7. Strategy Mapping
6.7.1. Expansion
6.7.2. Mergers & Acquisition
6.7.3. Partnership
6.7.4. New product launches
6.8. Company Profiles
6.8.1. ExxonMobil Corp.
6.8.2. Royal Dutch Shell Co.
6.8.3. British Petroleum
6.8.4. Total S.A.
6.8.5. Chevron Corporation
6.8.6. Funchs Group
6.8.7. Pennzoil
6.8.8. Amsoil Inc
6.8.9. Philips 66 Company
6.8.10. Valvoline LLC
6.8.11. Castrol
6.8.12. PetroChina
6.8.13. Sinopec Corp
6.8.14. Idemitsu Kosan Co. Ltd
6.8.15. Lukoil
6.8.16. JX Nippon Oil & Energy Corporation
6.8.17. Petrobras
6.8.18. Petronas Lubricant International
6.8.19. Quaker Chemical Corp
6.8.20. PetroFer Chemie
6.8.21. Zeller Gmelin GmbH & Co. KG
6.8.22. Buhmwoo Chemical Co. Ltd
6.8.23. Blaser Swisslube Inc

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