Lubricants Market Size - Industry Report On Share, Growth Trends & Forecasts Analysis (2025 - 2030)

The Lubricants Market Research Report is Segmented by Group (Group I, Group II, Group III, Group IV, and Group V), Base Stock (Mineral Oil Lubricants, Synthetic Lubricants, Semi-Synthetic Lubricants, and Bio-Based Lubricants), 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 Other Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metal Working, Chemical Manufacturing, and Other End-User Industries (Packaging, Oil, and Gas)), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East, and Africa). The Report Offers Market Size and Forecasts for Lubricants in Terms of Volume (liters) for all the Above Segments.

Lubricants Market Size - Industry Report On Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Lubricants Market Size

Lubricants Market Summary
Study Period 2019 - 2030
Market Volume (2025) 39.27 Billion liters
Market Volume (2030) 43.74 Billion liters
CAGR 2.18 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Lubricants Market Major Players

*Disclaimer: Major Players sorted in no particular order

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

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Lubricants Market Analysis

The Lubricants Market size is estimated at 39.27 billion liters in 2025, and is expected to reach 43.74 billion liters by 2030, at a CAGR of 2.18% during the forecast period (2025-2030).

In 2020, the lubricants market faced setbacks due to global supply chain disruptions caused by COVID-19. The pandemic led to shutdowns of numerous factories supplying essential raw materials, such as base oil and additives, to the lubricants industry. Nevertheless, buoyed by a positive automotive industry outlook and consistent advancements in the oil and gas sector, the lubricants market is expected to experience modest yet positive growth in the coming years.

  • Over the short term, the surging vehicle population and robust growth of investments in the power generation sector are the major factors driving the demand for the market studied.
  • However, stringent regulations amidst growing environmental concerns are expected to hinder the market's growth.
  • Nevertheless, the growing adoption of bio-lubricants is expected to create new opportunities for the market studied.
  • Asia-Pacific region is expected to dominate the market across the world, with the majority of demand coming from China and India.

Lubricants Industry Overview

The Global lubricants market is consolidated in nature. The major players (not in any particular order) include Shell PLC, Exxon Mobil Corporation, BP PLC (Castrol), TotalEnergies, and Chevron Corporation, among others. 

Lubricants Market Leaders

  1. Exxon Mobil Corporation

  2. Chevron Corporation

  3. TotalEnergies

  4. BP PLC

  5. Shell PLC

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

  • July 2024: BP PLC and Castrol announced their collaboration on co-engineering fuels and lubricants to maximize the performance of Audi's F1 Power Unit while meeting stringent environmental standards.
  • Jan 2024: Shell Lubricants, a subsidiary of Shell plc, has acquired MIDEL and MIVOLT, both based in the UK, from M&I Materials Ltd., located in Manchester. These product lines will be manufactured, distributed, and marketed as integral components of Shell’s global lubricants portfolio.
  • Oct 2023: Hindustan Petroleum Corporation Limited (HPCL) and Chevron Brands International LLC, a subsidiary of Chevron Corporation, entered into a long-term agreement encompassing the licensing, production, distribution, and marketing of Chevron’s lubricant products under the Caltex brand. It includes Chevron’s proprietary Havoline and Delo branded lubricant products in India.
  • Sep 2023: ENSO Oils & Lubricants has partnered with Gazpromneft-Lubricants, a subsidiary of Gazprom Neft PJSC, to bolster lubricant distribution across South Asia. ENSO is set to import and distribute Gazpromneft's diverse range of oils and lubricants, catering to various industries in India.

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 Surging Vehicle Population to Drive the Demand for Lubricants
    • 4.1.2 Robust Growth of Investments in the Power Generation Sector
    • 4.1.3 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Stringent Regulations Amidst Growing Environmental Concerns
    • 4.2.2 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 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 Group
    • 5.1.1 Group I
    • 5.1.2 Group II
    • 5.1.3 Group III
    • 5.1.4 Group IV
    • 5.1.5 Group V
  • 5.2 Base Stock
    • 5.2.1 Mineral Oil Lubricant
    • 5.2.2 Synthetic Lubricant
    • 5.2.3 Semi-synthetic Lubricant
    • 5.2.4 Bio-based Lubricant
  • 5.3 Product Type
    • 5.3.1 Engine Oil
    • 5.3.2 Transmission and Hydraulic Fluid
    • 5.3.3 Metalworking Fluid
    • 5.3.4 General Industrial Oil
    • 5.3.5 Gear Oil
    • 5.3.6 Grease
    • 5.3.7 Process Oil
    • 5.3.8 Other Product Types
  • 5.4 End-user Industry
    • 5.4.1 Power Generation
    • 5.4.2 Automotive and Other Transportation
    • 5.4.3 Heavy Equipment
    • 5.4.4 Food and Beverage
    • 5.4.5 Metallurgy and Metalworking
    • 5.4.6 Chemical Manufacturing
    • 5.4.7 Other End-user Industries (Packaging, Oil and Gas)
  • 5.5 Geography
    • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 Malaysia
    • 5.5.1.6 Thailand
    • 5.5.1.7 Indonesia
    • 5.5.1.8 Vietnam
    • 5.5.1.9 Rest of Asia-Pacific
    • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
    • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Spain
    • 5.5.3.6 NORDIC countries
    • 5.5.3.7 Turkey
    • 5.5.3.8 Russia
    • 5.5.3.9 Rest of Europe
    • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Colombia
    • 5.5.4.4 Rest of South America
    • 5.5.5 Middle-East
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 Qatar
    • 5.5.5.3 United Arab Emirates
    • 5.5.5.4 Nigeria
    • 5.5.5.5 Egypt
    • 5.5.5.6 South Africa
    • 5.5.5.7 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 BP PLC
    • 6.4.2 Chevron Corporation
    • 6.4.3 China National Petroleum Corporation (CNPC)
    • 6.4.4 China Petroleum & Chemical Corporation (Sinopec)
    • 6.4.5 ENEOS Corporation
    • 6.4.6 Exxon Mobil Corporation
    • 6.4.7 FUCHS
    • 6.4.8 Hindustan Petroleum Corporation Limited
    • 6.4.9 Idemitsu Kosan Co. Ltd
    • 6.4.10 Indian Oil Corporation Ltd
    • 6.4.11 LUKOIL
    • 6.4.12 MOTUL
    • 6.4.13 Petromin
    • 6.4.14 PETRONAS Lubricants International
    • 6.4.15 Phillips 66 Company
    • 6.4.16 PT Pertamina Lubricants
    • 6.4.17 Repsol
    • 6.4.18 Shell PLC
    • 6.4.19 TotalEnergies
    • 6.4.20 Valvoline (Saudi Aramco)
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Growing Adoption of Bio-lubricants
  • 7.2 Other Opportunities
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Lubricants Industry Segmentation

Lubricants are fluids designed to minimize friction between surfaces, thereby preventing wear and tear. Tailored for specific end users, these lubricants are crafted using distinct additives and base oils. Typically, base oils constitute 75% to 90% of a lubricant's formulation, endowing the final product with essential lubricating properties.

The lubricants market is segmented by group, base stock, product type, end-user industry, and geography. By group, the market is segmented into Group I, Group II, Group III, Group IV, and Group V. By base stock, the market is segmented into mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants. By product type, the market is segmented into engine oil, transmission and hydraulic fluid, metalworking fluid, general industrial oil, gear oil, grease, process oil, and other product types. By end-user industry, the market is segmented segments into power generation, automotive and other transportation, heavy equipment, food and beverage, metallurgy and metalworking, chemical manufacturing, and other end-user industries (packaging, oil and gas). The report also covers the market size and forecasts for the lubricants market in 27 countries across major regions.For each segment, the market sizing and forecasts have been done on the basis of volume (liters).

Group Group I
Group II
Group III
Group IV
Group V
Base Stock Mineral Oil Lubricant
Synthetic Lubricant
Semi-synthetic Lubricant
Bio-based Lubricant
Product Type Engine Oil
Transmission and Hydraulic Fluid
Metalworking Fluid
General Industrial Oil
Gear Oil
Grease
Process Oil
Other Product Types
End-user Industry Power Generation
Automotive and Other Transportation
Heavy Equipment
Food and Beverage
Metallurgy and Metalworking
Chemical Manufacturing
Other End-user Industries (Packaging, Oil and Gas)
Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
NORDIC countries
Turkey
Russia
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle-East Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle-East and Africa
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Lubricants Market Research Faqs

How big is the Lubricants Market?

The Lubricants Market size is expected to reach 39.27 billion liters in 2025 and grow at a CAGR of 2.18% to reach 43.74 billion liters by 2030.

What is the current Lubricants Market size?

In 2025, the Lubricants Market size is expected to reach 39.27 billion liters.

Who are the key players in Lubricants Market?

Exxon Mobil Corporation, Chevron Corporation, TotalEnergies, BP PLC and Shell PLC are the major companies operating in the Lubricants Market.

Which is the fastest growing region in Lubricants Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Lubricants Market?

In 2025, the Asia Pacific accounts for the largest market share in Lubricants Market.

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

In 2024, the Lubricants Market size was estimated at 38.41 billion liters. The report covers the Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Lubricants Industry Report

The Lubricants Market Research Report provides a comprehensive industry analysis, focusing on the segmentation by Group, Base Stock, Product Type, End-User Industry, and Geography. This market overview highlights the significant growth driven by the increasing demand for high-performance engines and rapid industrialization. The market is segmented into mineral oil, synthetic oil, bio-based oil, engine oil, hydraulic fluid, and metalworking fluid, among others.

Synthetic oil is projected to witness the fastest market growth due to its superior properties. The transportation sector, which includes commercial vehicles, passenger vehicles, marine, and railways, is expected to be the largest end-user industry. The Asia-Pacific region is anticipated to hold the largest share of the lubrication industry, attributed to its growing population, industrial investment, and infrastructure development.

Opportunities such as the demand for renewable energy and the growing prominence of bio-lubricants are expected to positively impact the market value. The lubricant market is highly competitive, with major players focusing on product development, innovation, and strategic partnerships. The report also provides a market forecast and market outlook, supported by statistics from the Lubricants market share, size, and revenue growth rate.

The industry research indicates that the market leaders are investing in new technologies to maintain their competitive edge. The market segmentation covers various sectors, ensuring a detailed market review. This report example includes a market prediction, highlighting the future trends and market data that are crucial for industry stakeholders.

In conclusion, the Lubricants Market Research Report offers a detailed industry outlook, providing valuable industry information, industry statistics, and insights into industry trends. The report pdf is available for those seeking an in-depth market analysis and industry reports.

Lubricants Market Report Snapshots