Market Size of asia-pacific lubricants Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2015 - 2026 |
|
Market Volume (2024) | 21.20 Billion Liters |
|
|
Market Volume (2026) | 22.95 Billion Liters |
|
|
CAGR (2024 - 2026) | 4.05 % |
|
Largest Share by End User | Automotive |
|
Largest Share by Country | China |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Lubricants Market Analysis
The Asia-pacific Lubricants Market size is estimated at 21.20 Billion Liters in 2024, and is expected to reach 22.95 Billion Liters by 2026, growing at a CAGR of 4.05% during the forecast period (2024-2026).
- Largest Segment by End-user Industry - Automotive : Among all end-user segments, automotive was the largest end-user due to the high proportion of lubricant drain intervals in motor vehicles than in any industrial application.
- Fastest Segment by End-user Industry - Power Generation : Power generation is expected to be Asia-Pacific's fastest-growing end user of lubricants due to the expanding demand for low-cost energy from natural-gas-fueled power plants.
- Largest Country Market - China : China is the largest lubricant market in Asia-Pacific, with a higher number of motor vehicles, natural gas power plants, and industrial machinery than any other country.
- Fastest Growing Country Market - Vietnam : Among all Asia-Pacific countries, Vietnam is expected to be the fastest-growing country in lubricant demand due to its rising manufacturing industry and vehicle ownership.
