Global Lubricants Market is estimated to be valued at USD 150.25 Bn in 2025 and is expected to reach USD 196.53 Bn by 2032, growing at a compound annual growth rate (CAGR) of 3.9% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 150.25 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
3.90%
2032 Value Projection:
USD 196.53 Bn
Figure. Lubricants Market Share (%), By Region 2025
Global lubricants market has been witnessing significant growth over the past few years due to growing automotive industry and rising demand from industrial machinery across the globe. Lubricants play a crucial role in minimizing friction between moving parts and surfaces protecting them from wear and tear. Thesehelp in cooling and cleaning of different components by suppressing heat and removing contaminants. Some of the common types of lubricants include engine oil, hydraulic oil, grease, and metalworking fluids. Rapid industrialization and increasing use of refined petroleum products have propelled the consumption of lubricants globally. Furthermore, growing population, rising disposable incomes, and expanding middle-class in emerging economies have augmented the sales of automobiles, thus, driving the market growth.
Market Dynamics:
Global lubricants market growth is primarily driven by robust growth of the automotive industry. Mass production of vehicles and rising demand for passenger cars have substantially increased the consumption of lubricants. Moreover, improving economic conditions, rising incomes, and growing industrialization in Asia Pacific and Latin America are providing a thrust to the manufacturing activities, thus, boosting demand for industrial machinery that require regular application of lubricants. However, stringent regulations regarding the usage of certain chemical additives used in lubricants and increasing shift toward electric vehicles that require less or no lubricants can hamper the market growth. Technological advancements in the development of high-performance, multi-functional, and more sustainable bio-based and synthetic lubricants present significant opportunities for market growth.
Key Features of the Study:
This report provides in-depth analysis of the global lubricants market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global lubricants market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Royal Dutch Shell Co., ExxonMobil Corp., BP PLC., Fuchs, Blaser Swisslube Inc., Total Energies, Chevron Corp., Castrol India Ltd., Amsoil Inc., JX Nippon Oil & Gas Exploration Corp., Philips 66 Company, Valvoline LLC, PetroChina Company Ltd., Idemitsu Kosan Co. Ltd., Petrobras, Petronas Lubricant International, Quaker Chemical Corp., PetroFer Chemie, Buhmwoo Chemical Co. Ltd., China Petrochemical Corp.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global lubricants market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lubricants market
Detailed Segmentation-
By Base Oil:
Bio-Based
Mineral
Synthetic
By Product Type:
Engine Oil
Transmission/Hydraulic Fluid
Metalworking fluid
General Industrial Oil
Gear Oil
Grease
Process Oil
Others
By End User:
Power Generation
Automotive and Other Transportation
Heavy Equipment
Food and Beverage
Metallurgy and Metalworking
Others (Chemical Manufacturing, etc.)
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Company Profiles:
Royal Dutch Shell Co.
ExxonMobil Corp.
BP PLC.
Fuchs
Blaser Swisslube Inc.
Total Energies
Chevron Corp.
Castrol India Ltd.
Amsoil Inc.
JX Nippon Oil & Gas Exploration Corp.
Philips 66 Company
Valvoline LLC
PetroChina Company Ltd.
Idemitsu Kosan Co. Ltd.
Petrobras
Petronas Lubricant International
Quaker Chemical Corp.
PetroFer Chemie
Buhmwoo Chemical Co. Ltd.
China Petrochemical Corp.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Base Oil
Market Snippet, By Product Type
Market Snippet, By End User
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
PEST Analysis
PORTER's Five Forces Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Product Type Trend
4. Global Lubricants Market - Impact of Coronavirus (COVID-19) Pandemic
Overview
Factors Affecting the Global Lubricants Market
Impact Analysis
5. Global Lubricants Market, By Base Oil, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Bio-Based
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Mineral
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Synthetic
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
6. Global Lubricants Market, By Product Type, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Engine Oil
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Transmission/Hydraulic Fluid
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Metalworking fluid
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
General Industrial Oil
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Gear Oil
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Grease
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Process Oil
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Others
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
7. Global Lubricants Market, By End User, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Power Generation
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Automotive and Other Transportation
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Heavy Equipment
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Food and Beverage
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Metallurgy and Metalworking
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Others (Chemical Manufacturing, etc.)
Market Share Analysis, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
8. Global Lubricants Market, By Region, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, By Region, 2025, 2028, and 2032 (%)
Y-o-Y Growth Analysis, For Region, 2021 - 2032
North America
Market Share Analysis, By Country, 2025, 2028 and 2032 (%)
Y-o-Y Growth Analysis, For Country, 2021 - 2032
Market Size and Forecast, By Base Oil, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Product Type, 2020- 2032, (US$ Bn)
Market Size and Forecast, By End User, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Country, 2020- 2032, (US$ Bn)
U.S.
Canada
Latin America
Market Share Analysis, By Country, 2025, 2028 and 2032 (%)
Y-o-Y Growth Analysis, For Country, 2021 - 2032
Market Size and Forecast, By Base Oil, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Product Type, 2020- 2032, (US$ Bn)
Market Size and Forecast, By End User, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Country, 2020- 2032, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Market Share Analysis, By Country, 2025, 2028 and 2032 (%)
Y-o-Y Growth Analysis, For Country, 2021 - 2032
Market Size and Forecast, By Base Oil, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Product Type, 2020- 2032, (US$ Bn)
Market Size and Forecast, By End User, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Country, 2020- 2032, (US$ Bn)
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
Market Share Analysis, By Country, 2025, 2028 and 2032 (%)
Y-o-Y Growth Analysis, For Country, 2021 - 2032
Market Size and Forecast, By Base Oil, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Product Type, 2020- 2032, (US$ Bn)
Market Size and Forecast, By End User, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Country, 2020- 2032, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Middle East & Africa
Market Share Analysis, By Country, 2025, 2028 and 2032 (%)
Y-o-Y Growth Analysis, For Country, 2021 - 2032
Market Size and Forecast, By Base Oil, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Product Type, 2020- 2032, (US$ Bn)
Market Size and Forecast, By End User, 2020- 2032, (US$ Bn)
Market Size and Forecast, By Country, 2020- 2032, (US$ Bn)