Lubricants Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The lubricants market size has grown steadily in recent years. It will grow from $156.67 billion in 2024 to $162.46 billion in 2025 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to industrialization and mechanization, automotive industry growth, technological advancements in lubricant formulations, globalization of trade and transportation, increasing demand from manufacturing sectors.

The lubricants market size is expected to see steady growth in the next few years. It will grow to $184.2 billion in 2029 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to expanding automotive fleet size, growth in the aviation and marine industries, rising demand for synthetic lubricants, increasing focus on sustainability and environmental regulations, development of emerging markets. Major trends in the forecast period include shift towards bio-based and eco-friendly lubricants, adoption of advanced lubrication technologies, such as nanotechnology, expansion of online sales channels for lubricants emphasis on predictive maintenance and condition monitoring, integration of lubricant management software for efficient maintenance scheduling.

The anticipated upswing in the automotive industry is poised to drive the growth of the lubricants market. The automotive industry encompasses activities related to the design, development, manufacturing, marketing, and sale of motor vehicles. Lubricants play a crucial role in automobiles by reducing friction and wear between moving parts, ensuring smooth operation, and extending the lifespan of engine components. In February 2023, the European Automobile Manufacturers Association reported a global production of 85.4 million motor vehicles in 2022, marking a 5.7% increase compared to the previous year. Furthermore, the International Energy Agency highlighted a substantial rise in electric vehicle sales, reaching 102 million units in 2022, reflecting the evolving dynamics of the automotive industry and contributing to the growth of the lubricants market.

Leading companies in the lubricants market are introducing new products, such as advanced marine and powersport oils, to offer superior engine protection and performance for four-stroke marine engines and off-road vehicles operating in extreme conditions. These advanced oils are specially formulated to deliver high performance, protection, and efficiency for engines facing demanding environments. For example, in September 2023, Valvoline, a U.S.-based provider of automotive and industrial lubricant solutions, launched two new products: Valvoline Full Synthetic 4-Stroke Marine Oil and Valvoline Ultimate Powersport Full Synthetic 4-Stroke Motor Oil. These oils are designed to enhance protection and performance under challenging conditions. The Valvoline Full Synthetic 4-Stroke Marine Oil provides up to eight times better defense against rust and offers 50% stronger wear protection, essential for engines exposed to corrosive saltwater environments. The Ultimate Powersport Full Synthetic 4-Stroke Motor Oil is tailored for small engines in ATVs, UTVs, and personal watercraft, ensuring optimal performance and durability. Both products contain powerful cleaning agents that help prevent dirt buildup in high-revving engines, promoting overall engine longevity.

In March 2023, Saudi Arabian Oil Group (Saudi Aramco) executed a significant acquisition, purchasing Valvoline Inc.’s global products business for $2.65 billion. This strategic move bolsters Aramco's global presence in the lubricants industry, providing valuable expansion opportunities and strengthening its downstream portfolio. The acquisition leverages Valvoline's established brand equity, positioning Aramco as a prominent player in the integrated, branded lubricants market. Valvoline Inc., a US-based automotive services company, specializes in the manufacture and distribution of finished lubricants and automotive chemicals, making it a strategic addition to Aramco's lubricants business.

Major companies operating in the lubricants market report are China Petroleum & Chemical Corporation, PetroChina Company Limited, ExxonMobil Corp., Shell PLC, Total Energies, BP PLC, Chevron Corp., Philips 66 Company, Petróleo Brasileiro S.A., ENEOS Corporation, Idemitsu Kosan Co. Ltd., Lukoil Oil Company, S-Oil Corporation, Calumet Specialty Products Partners L.P, Fuchs SE, Castrol Limited, Quaker Houghton, Valvoline Inc., Petronas Lubricant International, Gulf Oil Marine Ltd., Blaser Swisslube Inc., Amsoil Inc., Pennzoil, Zeller Gmelin Gmbh & Co. KG, Pennine Lubricants.

Asia-Pacific was the largest region in the lubricants market in 2024. The regions covered in the lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The lubricants market consists of sales of engine oil, grease, industrial oils, transmission fluids, lubricant dispensing systems, sealants, and aviation lubricants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A lubricant is a substance employed to lubricate engines or components, serving to control friction and minimize damage on surfaces engaged in relative motion. The primary function of lubricants is to reduce wear and tear on machinery, thereby extending the lifespan of the equipment.

The primary base oils used in lubricants include bio-based oil, mineral oil, and synthetic oil. Bio-based oil pertains to lubricants crafted from raw, renewable materials, distinguishing them from conventional petroleum-based alternatives. These bio-based oils exhibit characteristics such as biodegradability, renewability, and a reduced environmental footprint compared to their petroleum counterparts. Product types within the category encompass automotive oil, hydraulic oil, gear oil, compressed oil, greases, and metalworking fluids. These lubricants find applications in diverse sectors such as automotive, industrial, marine, chemical, oil and gas, aerospace, and others.

The lubricants market research report is one of a series of new reports that provides lubricants market statistics, including lubricants industry global market size, regional shares, competitors with a lubricants market share, detailed lubricants market segments, market trends and opportunities, and any further data you may need to thrive in the lubricants industry. This lubricants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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