ASEAN Lubricants Market Size

Statistics for the 2023 & 2024 ASEAN Lubricants market size, created by Mordor Intelligence™ Industry Reports. ASEAN Lubricants size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of ASEAN Lubricants Industry

ASEAN Lubricants Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 4.08 %
Market Concentration High

Major Players

ASEAN Lubricants Market Major Players

*Disclaimer: Major Players sorted in no particular order

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ASEAN Lubricants Market Analysis

The ASEAN Lubricants market is estimated at 3.25 billion l currently and is expected to reach 3.97 billion l over the forecast period, registering a CAGR of over 4.08% during the forecast period.

Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the sector is recovering well since restrictions were lifted. Over the last four years, an increase in automotive sales, power generation, and demand for food and beverages led to the market recovery.

  • Over the short term, increasing transportation usage and other factors are driving the market growth.
  • On the flip side, increasing drain intervals in the automotive and industrial sectors are some factors hindering the growth of the market studied.
  • However, the growing prominence of bio-lubricants will likely act as an opportunity.
  • Indonesia is expected to dominate the market and witness the highest CAGR during the forecast period.

ASEAN Lubricants Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)