The Latin America Lubricants Market size is estimated at 6.16 Billion liters in 2024, and is expected to reach 7.19 Billion liters by 2029, growing at a CAGR of 3.13% during the forecast period (2024-2029).
Increasing demand for high-performance lubricants and growing demand from Construction and Power Generation Industries are driving the market. On the flip side, the growing adoption of electrical & hybrid vehicles, an increase in the life-time of lubricants, and stringent environmental regulations coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
The Latin America lubricant market is fragmented with players accounting for a marginal share of the market. Few companies include Chevron Corporation, Exxon Mobil Corporation, BP p.l.c, Valvoline Inc., and Total.
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