The global lubricants market size is expected treach USD 200.16 billion by 2034, according ta new study by Polaris Market Research. The report “Lubricants Market Size, Share, Trends, Industry Analysis Report: By Application, Base Oil (Mineral Oil, Synthetic Oil, and Bio-Based Oil), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast 2025–2034” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.
The lubricants market is experiencing a shift toward synthetic and bio-based lubricants owing ttheir superior performance characteristics and environmental benefits. Synthetic lubricants offer better thermal stability, longer service life, and improved oxidation resistance, making them ideal for high-performance applications. Bio-based lubricants, derived from renewable resources, address environmental concerns and align with stringent government regulations on emissions and waste management. The demand for these eco-friendly alternatives is expected tgrow as industries and consumers prioritize sustainability.
The rising demand for industrial automation is driving the lubricants market development as industries increasingly adopt advanced machinery and robotics for enhanced productivity and precision. Automated systems require high-performance lubricants treduce friction, minimize wear, and ensure seamless operation under extreme conditions. Lubricants tailored for automated processes have become essential with industrial sectors such as manufacturing, energy, and mining focusing on efficiency and reliability. The rising demand for specialized lubricants is further fueled by advancements in smart lubricants, which integrate monitoring technologies toptimize equipment maintenance and reduce downtime.
Key Highlights of Lubricants Market Report
Based on application, the automotive segment led the global market in 2024. The segment’s dominance is driven by rising vehicle demand worldwide, fueled by both new vehicle production and the replacement of older vehicles.
By base oil, the synthetic oil segment is projected tregister the fastest growth from 2025 t2034, owing tits superior performance characteristics, such as enhanced thermal stability, oxidation resistance, and engine protection under extreme conditions.
Asia Pacific led the global market in 2024, supported by rapid industrialization, urbanization, and the growth of the automotive and manufacturing sectors in the region.
The North America lubricants market is anticipated texperience the fastest growth during the forecast period, owing tadvancements in industrial automation and rising demand for high-performance lubricants across various industries.
A few of the key market players are Exxon Mobil Corporation; Idemitsu Kosan Co., Ltd.; China Petrochemical Corporation; Shell; Phillips 66 Company; Chevron Corporation; BP p.l.c.; AMSOIL INC.; Zeller+Gmelin; Quaker Chemical Corporation d/b/a Quaker Houghton; FUCHS; TotalEnergies; and LUKOIL.
Polaris Market Research has segmented the lubricants market research report on the basis of application, base oil, and region:
By Application Outlook (Volume – Kilotons, Revenue – USD Billion, 2020–2034)
Industrial
Process Oils
General Industrial Oils
Metalworking Oils
Industrial Engine Oils
Greases
Others
Automotive
Engine Oil
Gear Oil
Transmission Fluids
Brake Fluids
Coolants
Greases
Marine
Engine oil
Hydraulic oil
Gear oil
Turbine oil
Greases
Others
Aerospace
Gas turbine oil
Piston engine oil
Hydraulic fluids
Others
By Base Oil Outlook (Volume – Kilotons, Revenue – USD Billion, 2020–2034)
Mineral Oil
Synthetic Oil
Bio-based Oil
By Regional Outlook (Volume – Kilotons, Revenue – USD Billion, 2020–2034)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global Lubricants Market Insights
- 4.1. Lubricants Market – Market Snapshot
- 4.2. Lubricants Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing Demand from Mining, Construction, Agriculture, and Marine Industries
- 4.2.1.2. Increased Demand for High-Performance Engines in Vehicles
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Shift toward synthetic lubricants reducing overall demand for lubricants
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Lubricants Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
- 5. Global Lubricants Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3. Industrial
- 5.3.1. Global Lubricants Market, by Industrial, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.2. Process Oil
- 5.3.2.1. Global Lubricants Market, by Process Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.3. General Industrial Oils
- 5.3.3.1. Global Lubricants Market, by General Industrial Oils, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.4. Metalworking Oils
- 5.3.4.1. Global Lubricants Market, by Metalworking Oils, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.5. Industrial Engine oils
- 5.3.5.1. Global Lubricants Market, by Industrial Engine Oils, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.6. Greases
- 5.3.6.1. Global Lubricants Market, by Greases, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.3.7. Others
- 5.3.7.1. Global Lubricants Market, by Others, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4. Automotive
- 5.4.1. Global Lubricants Market, by Automotive, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.2. Engine Oil
- 5.4.2.1. Global Lubricants Market, by Engine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.3. Gear Oil
- 5.4.3.1. Global Lubricants Market, by Gear Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.4. Transmission Fluids
- 5.4.4.1. Global Lubricants Market, by Transmission Fluids, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.5. Brake Fluid
- 5.4.5.1. Global Lubricants Market, by Brake Fluid, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.6. Coolants
- 5.4.6.1. Global Lubricants Market, by Coolants, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.4.7. Greases
- 5.4.7.1. Global Lubricants Market, by Greases, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5. Marine
- 5.5.1. Global Lubricants Market, by Marine, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.2. Engine Oil
- 5.5.2.1. Global Lubricants Market, by Engine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.3. Hydraulic Oil
- 5.5.3.1. Global Lubricants Market, by Engine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.4. Gear Oil
- 5.5.4.1. Global Lubricants Market, by Gear Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.5. Turbine Oil
- 5.5.5.1. Global Lubricants Market, by Turbine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.6. Greases
- 5.5.6.1. Global Lubricants Market, by Greases, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.5.7. Others
- 5.5.7.1. Global Lubricants Market, by Others, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.6. Aerospace
- 5.6.1. Global Lubricants Market, by Aerospace, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.6.2. Gas Turbine Oil
- 5.6.2.1. Global Lubricants Market, by Gas Turbine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.6.3. Piston Engine Oil
- 5.6.3.1. Global Lubricants Market, by Piston Engine Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.6.4. Hydraulic Fluids
- 5.6.4.1. Global Lubricants Market, by Hydraulic Fluids, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 5.6.5. Others
- 5.6.5.1. Global Lubricants Market, by Others, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 6. Global Lubricants Market, by Base Oil
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 6.3. Mineral Oil
- 6.3.1. Global Lubricants Market, by Mineral Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 6.4. Synthetic Oil
- 6.4.1. Global Lubricants Market, by Synthetic Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 6.5. Bio-based Oil
- 6.5.1. Global Lubricants Market, by Bio-based Oil, by Region, 2020-2034 (Volume, Kilotons; USD Billion)
- 7. Global Lubricants Market, by Geography
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Lubricants Market Assessment, By Geography, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3. Lubricants Market – North America
- 7.3.1. North America: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3.2. North America: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3.3. Lubricants Market – US
- 7.3.3.1. US: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3.3.2. US: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3.4. Lubricants Market – Canada
- 7.3.4.1. Canada: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.3.4.2. Canada: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4. Lubricants Market – Europe
- 7.4.1. Europe: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.2. Europe: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.3. Lubricants Market – UK
- 7.4.3.1. UK: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.3.2. UK: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.4. Lubricants Market – France
- 7.4.4.1. France: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.4.2. France: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.5. Lubricants Market – Germany
- 7.4.5.1. Germany: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.5.2. Germany: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.6. Lubricants Market – Italy
- 7.4.6.1. Italy: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.6.2. Italy: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.7. Lubricants Market – Spain
- 7.4.7.1. Spain: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.7.2. Spain: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.8. Lubricants Market – Netherlands
- 7.4.8.1. Netherlands: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.8.2. Netherlands: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.9. Lubricants Market – Russia
- 7.4.9.1. Russia: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.9.2. Russia: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.10. Lubricants Market – Rest of Europe
- 7.4.10.1. Rest of Europe: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.4.10.2. Rest of Europe: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5. Lubricants Market – Asia Pacific
- 7.5.1. Asia Pacific: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.2. Asia Pacific: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.3. Lubricants Market – China
- 7.5.3.1. China: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.3.2. China: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.4. Lubricants Market – India
- 7.5.4.1. India: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.4.2. India: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.5. Lubricants Market – Malaysia
- 7.5.5.1. Malaysia: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.5.2. Malaysia: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.6. Lubricants Market – Japan
- 7.5.6.1. Japan: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.6.2. Japan: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.7. Lubricants Market – Indonesia
- 7.5.7.1. Indonesia: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.7.2. Indonesia: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.8. Lubricants Market – South Korea
- 7.5.8.1. South Korea: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.8.2. South Korea: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.9. Lubricants Market – Australia
- 7.5.9.1. Australia: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.9.2. Australia: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.10. Lubricants Market – Rest of Asia Pacific
- 7.5.10.1. Rest of Asia Pacific: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.5.10.2. Rest of Asia Pacific: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6. Lubricants Market – Middle East & Africa
- 7.6.1. Middle East & Africa: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.2. Middle East & Africa: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.3. Lubricants Market – Saudi Arabia
- 7.6.3.1. Saudi Arabia: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.3.2. Saudi Arabia: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.4. Lubricants Market – UAE
- 7.6.4.1. UAE: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.4.2. UAE: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.5. Lubricants Market – Israel
- 7.6.5.1. Israel: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.5.2. Israel: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.6. Lubricants Market – South Africa
- 7.6.6.1. South Africa: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.6.2. South Africa: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.7. Lubricants Market – Rest of Middle East & Africa
- 7.6.7.1. Rest of Middle East & Africa: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.6.7.2. Rest of Middle East & Africa: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7. Lubricants Market – Latin America
- 7.7.1. Latin America: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.2. Latin America: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.3. Lubricants Market – Mexico
- 7.7.3.1. Mexico: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.3.2. Mexico: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.4. Lubricants Market – Brazil
- 7.7.4.1. Brazil: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.4.2. Brazil: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.5. Lubricants Market – Argentina
- 7.7.5.1. Argentina: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.5.2. Argentina: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.6. Lubricants Market – Rest of Latin America
- 7.7.6.1. Rest of Latin America: Lubricants Market, by Application, 2020-2034 (Volume, Kilotons; USD Billion)
- 7.7.6.2. Rest of Latin America: Lubricants Market, by Base Oil, 2020-2034 (Volume, Kilotons; USD Billion)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. Exxon Mobil Corporation.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Idemitsu Kosan Co.,Ltd.
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. China Petrochemical Corporation.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Shell
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Phillips 66 Company.
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Chevron Corporation.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. BP p.l.c.
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. AMSOIL INC.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Zeller+Gmelin
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Quaker Chemical Corporation d/b/a Quaker Houghton
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. FUCHS
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. TotalEnergies
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. LUKOIL
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
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