Market Size of Automotive Lubricants Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 22.38 Billion liters |
| Market Volume (2029) | 26.98 Billion liters |
| CAGR (2024 - 2029) | 3.81 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Lubricants Market Analysis
The Automotive Lubricants Market size is estimated at 22.38 Billion liters in 2024, and is expected to reach 26.98 Billion liters by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- In the short term, one of the major factors, like increasing EV production globally and demand from the automotive components industry, is expected to drive the market.
- On the flip side, low adoption rates of synthetic lubricants due to stringent environmental regulations for waste oil disposal are expected to hinder the market's growth.
- The bio-based lubricants development is expected to act as a market opportunity for the market studied.
- Asia-Pacific region is expected to dominate the market studied during the forecast period.
