Latin America Lubricants Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Latin America Construction Lubricants Market is segmented by Base Stock (Mineral Oil Lubricant, Synthetic Lubricant, Semi-Synthetic Lubricant, and Bio-based Lubricant), Product Type (Engine Oil, Transmission and Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, Process Oil, and Other Product Types), End-user Industry (Power Generation, Automotive and Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metal Working, Chemical Manufacturing, and Other End-user Industries), and Geography (Mexico, Brazil, Argentina, and Rest of Latin America)

Latin America Lubricants Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Latin America Lubricants Market Size

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Latin America Lubricants Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 6.35 Billion liters
Market Volume (2030) 7.41 Billion liters
CAGR 3.13 %
Market Concentration Low

Major Players

Latin America Lubricants Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Latin America Lubricants Market with other markets in Chemicals & Materials Industry

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Latin America Lubricants Market Analysis

The Latin America Lubricants Market size is estimated at 6.35 billion liters in 2025, and is expected to reach 7.41 billion liters by 2030, at a CAGR of 3.13% during the forecast period (2025-2030).

Increasing demand for high-performance lubricants and growing demand from Construction and Power Generation Industries are driving the market. On the flip side, the growing adoption of electrical & hybrid vehicles, an increase in the life-time of lubricants, and stringent environmental regulations coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.

  • The lubricant market in Latin America is expected to grow during the forecast period owing to its wide range of applications in different end-user industries including construction and power generation industries.
  • Brazil is expected to dominate the market across Latin America with the largest consumption of lubricants.

Latin America Lubricants Industry Overview

The Latin America lubricant market is fragmented with players accounting for a marginal share of the market. Few companies include Chevron Corporation, Exxon Mobil Corporation, BP p.l.c, Valvoline Inc., and Total.

Latin America Lubricants Market Leaders

  1. Chevron Corporation

  2. Exxon Mobil Corporation

  3. BP p.l.c

  4. Total

  5. Valvoline Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Latin America Lubricants Market Concentration
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Latin America Lubricants Market News

  • May 2022: Shell plc completed the sales of the lubricants division in Brazil to Raizen. This disinvestment will decrease Shell plc's market presence in Brazil's lubricants market.
  • June 2021: Chevron acquired Puma Energy's fuels and lubricants businesses in Latin America, which included assets in eight countries. This strategic move expanded Chevron's market presence in the region and strengthened its lubricants portfolio.

Latin America Lubricants Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Demand for High Performance Lubricants
    • 4.1.2 Growing Demand Form Construction and Power Generation Industries
    • 4.1.3 Increasing Usage of Lubricants in Automotive and Transportation
  • 4.2 Restraints
    • 4.2.1 Difficulty in Distributing Finished Products to Customers
    • 4.2.2 Increasing Life-Time of Lubricants and Stringent Environmental Regulations
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porters Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Product Type
    • 5.1.1 Engine Oil
    • 5.1.2 Transmission and Gear Oils
    • 5.1.3 Metalworking Fluid
    • 5.1.4 Hydraulic Fluid
    • 5.1.5 Greases
    • 5.1.6 Other Product Types
  • 5.2 End-User Industry
    • 5.2.1 Power Generation
    • 5.2.2 Automotive
    • 5.2.3 Heavy Equipment
    • 5.2.4 Metallurgy and Metalworking
    • 5.2.5 Other End-User Industries
  • 5.3 Geography
    • 5.3.1 Mexico
    • 5.3.2 Brazil
    • 5.3.3 Argentina
    • 5.3.4 Rest of Latin America

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share Analysis (%)**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 BP p.l.c
    • 6.4.2 Chevron Corporation
    • 6.4.3 Eni SpA
    • 6.4.4 Exxon Mobil Corporation
    • 6.4.5 FUCHS
    • 6.4.6 Kluber Lubrication (FREUDENBERG)
    • 6.4.7 Royal Dutch Shell PLC
    • 6.4.8 Schlumberger Limited
    • 6.4.9 Total
    • 6.4.10 Valvoline Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Growing Prominence for Bio-Lubricants
  • 7.2 Development of Low Viscosity Lubricants
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Latin America Lubricants Industry Segmentation

Lubricant products are made from a combination of base oils and additives. The composition of base oil in the formulation of lubricants is primarily between 75-90%. Base oils possess lubricating properties and make up to 90% of the final lubricant product. 

The market is segmented by product type and end-user industry. By product type, the market is segmented into engine oil, transmission and gear oil, hydraulic fluid, greases, and other product types. By end-user industry, the market is segmented by power generation, automotive, heavy equipment, and other end-user industries. The report also covers the market sizes and forecasts for the lubricants market in three countries across the Latin America region. 

For each segment, the market sizing and forecasts have been done on the basis of volume (million liters).

Product Type Engine Oil
Transmission and Gear Oils
Metalworking Fluid
Hydraulic Fluid
Greases
Other Product Types
End-User Industry Power Generation
Automotive
Heavy Equipment
Metallurgy and Metalworking
Other End-User Industries
Geography Mexico
Brazil
Argentina
Rest of Latin America
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Latin America Lubricants Market Research FAQs

How big is the Latin America Lubricants Market?

The Latin America Lubricants Market size is expected to reach 6.35 billion liters in 2025 and grow at a CAGR of 3.13% to reach 7.41 billion liters by 2030.

What is the current Latin America Lubricants Market size?

In 2025, the Latin America Lubricants Market size is expected to reach 6.35 billion liters.

Who are the key players in Latin America Lubricants Market?

Chevron Corporation, Exxon Mobil Corporation, BP p.l.c, Total and Valvoline Inc. are the major companies operating in the Latin America Lubricants Market.

What years does this Latin America Lubricants Market cover, and what was the market size in 2024?

In 2024, the Latin America Lubricants Market size was estimated at 6.15 billion liters. The report covers the Latin America Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Latin America Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Latin America Lubricants Industry Report

The Latin America Construction Lubricants Market is segmented by base stock, product type, end-user industry, and geography. The market analysis includes mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants. Product types covered in the market research are engine oil, transmission and hydraulic fluid, metalworking fluid, general industrial oil, gear oil, grease, process oil, and other product types. End-user industries analyzed in the market report include power generation, automotive and transportation, heavy equipment, food and beverage, metallurgy and metalworking, chemical manufacturing, and others.

The market overview indicates a comprehensive industry analysis with a focus on market trends and market growth. The industry reports highlight the market segmentation across Mexico, Brazil, Argentina, and the rest of Latin America. The market forecast provides insights into the market outlook and market predictions, emphasizing the market value and market data essential for understanding the industry's future.

The report pdf offers a detailed industry outlook, including industry information and industry statistics relevant to stakeholders. The market review emphasizes the role of market leaders and research companies in shaping the industry trends. The report example showcases the market's performance, while the industry research delves into the industry's size and sales.

Overall, the market analysis provides a thorough understanding of the Latin America Construction Lubricants Market, with insights into market segmentation, market value, and industry sales. The industry reports and market forecast offer valuable information for stakeholders looking to navigate the market's future.