The global lubricants market was valued at USD 144.4 billion in 2024 and is projected to reach USD 180.2 billion by 2030, growing at a CAGR of 3.8% from 2025 to 2030. This growth is driven largely by rising demand for automotive oils and greases, supported by increasing global trade in vehicles and spare parts.
Lubricants play a critical role across rapidly expanding industrial sectors. By reducing friction and wear between moving machine components, lubricants help ensure efficient operation, minimize equipment downtime, and enhance overall productivity. Available in both petroleum-based and water-based formulations, they are widely used in processing industries and automobile systems—particularly in engines and braking components where continuous lubrication is essential.
Increasing global imports and exports of piston engine lubricants are further accelerating market expansion. Demand is driven by consumers’ growing focus on improving vehicle performance and by the availability of innovative, premium-grade lubricant products. Market growth over the coming years will closely align with motor vehicle production levels and vehicle miles travelled. Additionally, consumers are increasingly seeking both standard and specialized lubricants to maintain vehicle efficiency and reduce long-term maintenance costs.
Key Market Trends & Insights
- Asia Pacific led the market with 44.9% revenue share in 2024.
- The China lubricants market is expected to grow steadily through the forecast period.
- By product, mineral oil accounted for 63.7% of revenue in 2024.
- By application, the automotive segment dominated with 53.3% share in 2024.
Download a free sample PDF of the Lubricants Market Intelligence Study by Grand View Research.
Market Size & Forecast
- 2024 Market Size: USD 144.4 Billion
- 2030 Forecast: USD 180.2 Billion
- CAGR (2025–2030): 3.8%
- Largest Market (2024): Asia Pacific
Competitive Landscape
Key companies operating in the lubricants market include Dow and Linde Plc, among others.
- TotalEnergies, a globally integrated oil & gas company, operates across upstream, refining & specialty chemicals, and marketing & services. Its subsidiary, Total Oil India Private Ltd., supports operations spanning over 50 countries. The company is active in renewable energy and power generation and has a widespread presence across the Middle East, Europe & CIS, Africa, Asia Pacific, North America, South America, and Australia / Oceania. TotalEnergies’ products serve diverse applications in transportation, household appliances, industrial packaging, and more. The company transports 131 million metric tons of crude oil and refined products.
Prominent Companies
- TotalEnergies
- CASTROL LIMITED
- AMSOIL INC.
- FUCHS
- Chevron Overseas Limited
- ExxonMobil Corporation
- Eurol
Explore Horizon Databook – the world’s most comprehensive market intelligence platform by Grand View Research.
Conclusion
The lubricants market will continue to expand steadily as industrial activity grows, vehicle production increases, and consumers seek higher-performance, longer-lasting lubrication solutions. With Asia Pacific maintaining its dominant position and automotive applications driving demand, innovation in premium and specialized lubricants will remain a key differentiator for industry players in the years ahead.
No comments:
Post a Comment