Brazil Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

Brazil Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

The Brazil Passenger Vehicles Lubricants Market size is estimated at 423.95 Million Liters in 2024, and is expected to reach 452.11 Million Liters by 2026, growing at a CAGR of 3.27% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is consumed in high quantities in Brazil's SUVs, and it is changed more frequently than other product types, making it the most popular product type in the country.
• Fastest Segment by Product Type - Hydraulic Fluids : With a predicted rise in maintenance rates in Brazil's PV segment during 2021-2026, demand for hydraulic fluids is expected to grow at a faster rate than other product types.

Brazil Passenger Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• In Brazil, passenger vehicles (PVs) are the largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption registered a CAGR of 2.02%, primarily owing to the surge in the car population in the country.
• In 2020, PVs accounted for about 44.2% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of around 76% during the year. During 2020, PV lubricant consumption declined by 9.6%, due to the low usage of the vehicle fleet post the COVID-19 outbreak.
• During 2021-2026, the hydraulic fluids segment is likely to be the fastest-growing lubricant type at a CAGR of 4.62%. This growth is likely to be driven by the rising sales of passenger cars and recovery in average distance traveled in the country.

Brazil Passenger Vehicles Lubricants Industry Overview

The Brazil Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 70.03%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, PETRONAS Lubricants International and Royal Dutch Shell Plc (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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