Lubricants Market Size 2025-2029
The lubricants market size is valued to increase by USD 26.7 billion, at a CAGR of 3.5% from 2024 to 2029. Increasing demand for lubricants from end-user industries will drive the lubricants market.
Major Market Trends & Insights
- APAC dominated the market and accounted for a 38% growth during the forecast period.
- By Application - Automotive oils segment was valued at USD 71.80 billion in 2023
- By Product - Mineral oil-based lubricants segment accounted for the largest market revenue share in 2023
Market Size & Forecast
- Market Opportunities: USD 31.96 billion
- Market Future Opportunities: USD 26.70 billion
- CAGR from 2024 to 2029 : 3.5%
Market Summary
- The market experiences continuous expansion due to the escalating demand from various end-user industries, including automotive, manufacturing, and power generation. One significant trend shaping this sector is the increasing adoption of bio-based lubricants, which offer environmental benefits and improved performance. These eco-friendly alternatives have gained traction, especially in industries striving for sustainability. Crude oil price fluctuations significantly impact the market, as petroleum-derived lubricants account for a substantial portion of the overall demand. The market's size was valued at USD 165.5 billion in 2020, according to market research. As industries adapt to the evolving market landscape, they seek advanced lubricant solutions to enhance efficiency, reduce downtime, and ensure optimal performance.
- Innovations in lubricant technology, such as nanotechnology and synthetic lubricants, are driving growth in the market. These advancements offer improved wear protection, increased energy efficiency, and extended lubricant life. As industries continue to prioritize productivity and sustainability, the market is poised for continued expansion.
What will be the Size of the Lubricants Market during the forecast period?
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How is the Lubricants Market Segmented?
The lubricants industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
- Application
- Automotive oils
- Industrial oils
- Process oils
- Metalworking fluids
- Greases
- Product
- Mineral oil-based lubricants
- Synthetic lubricants
- Bio-based lubricants
- Grade Type
- Group II
- Group III
- Group I
- Group IV
- Group V
- End-user
- Transportation
- Manufacturing
- Construction
- Mining
- Agriculture
- Others
- Distribution Channel
- Direct Sales
- Distributors/Wholesalers
- Retail
- Online
- Geography
- North America
- Europe
- Middle East and Africa
- APAC
- South America
- Rest of World (ROW)
By Application Insights
The automotive oils segment is estimated to witness significant growth during the forecast period.
The market is experiencing significant growth, fueled by the increasing production and demand for vehicles, particularly in developing countries like China, India, Brazil, and Indonesia. This expanding automotive sector relies heavily on lubricants, which are essential for reducing friction and wear in various automotive applications, such as engine oils, hydraulic fluids, and gear lubricants. The market is witnessing a shift towards synthetic lubricants, including synthetic esters and synthetic lubricants, due to their superior performance under extreme pressure and high temperatures. These advanced lubricants offer enhanced wear protection, oxidation inhibition, and viscosity control. Moreover, the demand for biodegradable lubricants and those with improved rheological properties is on the rise, driven by environmental concerns and the need for improved tribology testing and oil analysis.
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The Automotive oils segment was valued at USD 71.80 billion in 2019 and showed a gradual increase during the forecast period.
According to recent industry reports, the market is projected to grow, reaching a market size of USD 212.4 billion by 2026. This growth is attributed to the increasing demand for high-performance lubricants, the ongoing research and development in lubricant technology, and the expanding automotive and industrial sectors.
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Regional Analysis
APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in the Asia Pacific region is experiencing significant growth, driven by the high consumption of lubricants in industries such as automotive, construction, and refining. Key countries contributing to this demand include China, India, Japan, and South Korea. The region's market is well-diversified due to the rapid industrialization, expansion of the business sector, and the presence of numerous regional and local companies. The automotive industry is the primary driver of this growth, as the region's increasing vehicle production and sales contribute significantly to the demand for lubricants.
In October 2023, HPCL and Chevron introduced Caltex lubricants, including Havoline and Delo, to the Indian market, further boosting the regional demand. The market in the region is expected to maintain its robust growth trajectory in the coming years.
Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant growth due to the increasing demand for efficient and high-performance products in various industries. Extreme pressure lubricant properties are essential for applications in heavy-duty industries such as mining and construction, where equipment experiences high loads and temperatures. Synthetic ester lubricants, with their superior chemical stability and excellent performance in extreme conditions, are gaining popularity in these applications. In the automotive sector, gear lubricant viscosity selection and engine oil performance parameters are critical factors in ensuring optimal machinery operation. High-temperature grease formulations are also essential for industries such as steel manufacturing and aerospace, where equipment operates under extreme conditions. Lubricant additive interactions play a significant role in enhancing the performance of industrial lubricants. Additives such as antioxidants, anti-wear agents, and corrosion inhibitors help extend the life of machinery and reduce maintenance costs. Environmental concerns have led to the increasing demand for biodegradable lubricants. These eco-friendly alternatives offer significant environmental benefits, including reduced carbon footprint and minimal impact on aquatic life. Metalworking fluid composition analysis is essential to ensure the effective use of biodegradable lubricants and prevent contamination. Hydraulic fluid contamination control is crucial in ensuring the longevity and efficiency of hydraulic systems. Regular monitoring and maintenance of hydraulic fluids can help prevent costly repairs and downtime. Industrial lubricant selection criteria include factors such as operating temperature, load capacity, and environmental considerations. Proper lubricant selection can lead to increased machinery efficiency, reduced maintenance costs, and improved overall performance.
What are the key market drivers leading to the rise in the adoption of Lubricants Industry?
- The primary factor fueling market growth is the escalating demand for lubricants from various end-user industries.
- The market extends beyond the automotive sector, with significant demand emerging from the construction, steel and cement, wind energy, agriculture, mining and oil drilling, marine, and aerospace industries. In the construction industry, lubricants' anti-wear properties, resistance to corrosion, superior lubricity, water tolerance, and filterability make them indispensable in construction equipment. Hydraulic fluids, derived from lubricants, enhance the energy transmission capacity in earthmoving machinery like crawler excavators, mini excavators, wheeled excavators, wheeled dozers, and skid-steer loaders.
- The steel and cement industry relies on lubricants to extend drain/re-greasing intervals, improve lubrication efficiency, boost wear resistance of friction pairs, and prolong equipment lifespan.
What are the market trends shaping the Lubricants Industry?
- The emergence of bio-based lubricants represents a significant market trend. This shift towards sustainable and eco-friendly alternatives is gaining momentum in various industries.
- The market is witnessing a significant shift towards the adoption of bio-based lubricants. These eco-friendly alternatives, derived from renewable sources, offer numerous advantages over their petroleum-based counterparts. Bio-based lubricants provide a cleaner, less toxic work environment, resulting in improved safety for engine and hydraulic system workers. Moreover, they require less maintenance, storage, and disposal, leading to cost savings over the product lifecycle. The environmental benefits of bio-based lubricants are also noteworthy. They produce fewer emissions, have higher flashpoints, and exhibit constant viscosity.
- Companies are increasingly focusing on reducing bioaccumulation and eco-toxicity to minimize adverse environmental impacts. By using bio-based lubricants, pollution from stormwater, engine leaks, and hydraulic systems can be significantly reduced. This trend is expected to continue as the demand for sustainable and eco-friendly solutions grows.
What challenges does the Lubricants Industry face during its growth?
- The volatility of crude oil prices poses a significant challenge to the growth of the industry.
- Lubricants, derived primarily from the refining of crude oil, hold a significant position in various industries. Mineral oil-based lubricants dominate the global market, with the oil and gas sector serving as a primary supplier of the raw materials. The cost of marine lubricants is influenced by fluctuations in global crude oil prices, which directly affect the manufacturers' revenue and profit margins. For instance, the increase in global crude oil demand and the subsequent decrease in its supply led to a surge in prices.
- This volatility in raw material prices can significantly impact the market, as manufacturers rely heavily on these resources for production. The market's evolving nature underscores the importance of maintaining a robust supply chain and adaptability to price fluctuations.
Exclusive Technavio Analysis on Customer Landscape
The lubricants market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the lubricants market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Lubricants Industry
Competitive Landscape
Companies are implementing various strategies, such as strategic alliances, lubricants market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
BP p.l.c. - The company specializes in providing advanced lubricant solutions for heavy-duty vehicles and machinery.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- BP p.l.c.
- Chevron Corporation
- China Petrochemical Corporation (Sinopec)
- ConocoPhillips
- Exxon Mobil Corporation
- FUCHS PETROLUB SE
- Idemitsu Kosan Co.,Ltd.
- Indian Oil Corporation Ltd.
- JX Nippon Oil & Energy Corporation
- Lukoil Oil Company
- Motul S.A.
- Petronas Lubricants International
- Phillips 66
- Quaker Houghton
- Royal Dutch Shell plc
- SK Lubricants Co. Ltd.
- TotalEnergies SE
- Valvoline Inc.
- Viscosity Oil Company
- YPF S.A.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recent Development and News in Lubricants Market
- In January 2024, Shell announced the launch of its new line of synthetic lubricants, Helix Ultra, designed for heavy-duty applications, aiming to enhance engine performance and reduce emissions (Shell press release).
- In March 2024, ExxonMobil and Chevron Phillips Chemical Company LLC entered into a strategic collaboration to produce and market base stocks for lubricant manufacturing, strengthening their market presence (ExxonMobil press release).
- In April 2024, Fuchs Petrolub SE, a leading lubricant supplier, acquired Lukoil Lubricants, expanding its market share in Eastern Europe and the CIS region (Fuchs Petrolub SE press release).
- In May 2025, TotalEnergies secured regulatory approval for its new lubricant blending plant in the United States, increasing its production capacity and enhancing its presence in the North American market (TotalEnergies press release).
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Lubricants Market insights. See full methodology.
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Market Scope
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Report Coverage
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Details
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Page number
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240
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Base year
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2024
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Historic period
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2019-2023 |
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Forecast period
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2025-2029
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Growth momentum & CAGR
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Accelerate at a CAGR of 3.5%
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Market growth 2025-2029
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USD 26.7 billion
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Market structure
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Fragmented
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YoY growth 2024-2025(%)
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3.4
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Key countries
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US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW)
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Competitive landscape
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Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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Research Analyst Overview
- The market continues to evolve, driven by advancements in technology and the diverse requirements of various sectors. Extreme pressure additives, such as synthetic esters, play a crucial role in enhancing the performance of lubricants in high-stress applications. For instance, in the metalworking industry, the use of high-performance lubricants with antiwear additives has led to a significant reduction in friction and wear, resulting in increased productivity and cost savings. Moreover, the ongoing challenge of lubricant degradation necessitates continuous research and development in the industry. Vegetable oils, for instance, are gaining popularity as biodegradable alternatives to traditional mineral oil-based lubricants. However, their use requires careful consideration of their rheological properties and viscosity modifiers to ensure optimal performance in various applications.
- Industry experts anticipate that the market will grow at a robust pace in the coming years, with estimates suggesting a growth rate of over 5% annually. This growth is attributed to the increasing demand for high-temperature lubricants, hydraulic fluids, and industrial lubricants, among others. In the realm of tribology testing and oil analysis, advanced techniques are being employed to assess the performance and longevity of lubricants. For example, elastohydrodynamic lubrication and boundary lubrication testing help evaluate the lubricity enhancement of various lubricant formulations. Additionally, the use of base oils and additive packages, such as oxidation inhibitors and pour point depressants, plays a vital role in ensuring the viscosity index and overall performance of lubricants.
- In the realm of food-grade lubricants, synthetic lubricants are increasingly being adopted due to their superior wear protection properties. These lubricants are essential in the food processing industry, where the need for efficient, clean, and safe operations is paramount. In conclusion, the market is a dynamic and ever-evolving landscape, with ongoing research and development efforts focused on addressing the unique challenges of various sectors. Whether it's the use of extreme pressure additives in high-stress applications or the adoption of biodegradable lubricants for environmental sustainability, the industry continues to push the boundaries of innovation.
What are the Key Data Covered in this Lubricants Market Research and Growth Report?
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What is the expected growth of the Lubricants Market between 2025 and 2029?
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What segmentation does the market report cover?
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The report is segmented by Application (Automotive oils, Industrial oils, Process oils, Metalworking fluids, and Greases), Product (Mineral oil-based lubricants, Synthetic lubricants, and Bio-based lubricants), Grade Type (Group II, Group III, Group I, Group IV, and Group V), Geography (APAC, Europe, North America, Middle East and Africa, and South America), End-user (Transportation, Manufacturing, Construction, Mining, Agriculture, and Others), and Distribution Channel (Direct Sales, Distributors/Wholesalers, Retail, and Online)
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Which regions are analyzed in the report?
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APAC, Europe, North America, Middle East and Africa, and South America
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What are the key growth drivers and market challenges?
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Who are the major players in the Lubricants Market?
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BP p.l.c., Chevron Corporation, China Petrochemical Corporation (Sinopec), ConocoPhillips, Exxon Mobil Corporation, FUCHS PETROLUB SE, Idemitsu Kosan Co.,Ltd., Indian Oil Corporation Ltd., JX Nippon Oil & Energy Corporation, Lukoil Oil Company, Motul S.A., Petronas Lubricants International, Phillips 66, Quaker Houghton, Royal Dutch Shell plc, SK Lubricants Co. Ltd., TotalEnergies SE, Valvoline Inc., Viscosity Oil Company, and YPF S.A.
Market Research Insights
- The market for lubricants is a dynamic and ever-evolving entity, encompassing a diverse range of applications and requirements. Two key aspects of this market are the ongoing efforts to minimize wear rate and mitigate environmental impact. For instance, a recent study revealed that implementing optimized handling procedures and lubricant formulations led to a 15% reduction in equipment downtime and a 10% decrease in energy consumption.
- Moreover, industry experts anticipate a 5% annual growth rate over the next decade, driven by advancements in additive chemistry and increasing demand for high-performance lubricants. These trends underscore the market's continuous evolution and the importance of staying informed about the latest developments.
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1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Product
- Executive Summary - Chart on Market Segmentation by Grade Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Market characteristics analysis
4 Market Sizing
- 4.1 Market definition
- Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5.1 Global Lubricants Market 2019 - 2023
- Historic Market Size - Data Table on Global Lubricants Market 2019 - 2023 ($ billion)
- 5.2 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ billion)
- 5.3 Product segment analysis 2019 - 2023
- Historic Market Size - Product Segment 2019 - 2023 ($ billion)
- 5.4 Grade Type segment analysis 2019 - 2023
- Historic Market Size - Grade Type Segment 2019 - 2023 ($ billion)
- 5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
- 5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6.1 Impact of AI on the Global Lubricants Market
7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Application
- 8.1 Market segments
- Chart on Application - Market share (2024-2029) (%)
- Data Table on Application - Market share (2024-2029) (%)
- 8.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 8.3 Automotive oils - Market size and forecast (2024-2029)
- Chart on Automotive oils - Market size and forecast (2024-2029) ($ billion)
- Data Table on Automotive oils - Market size and forecast (2024-2029) ($ billion)
- Chart on Automotive oils - Year-over-year growth (2024-2029) (%)
- Data Table on Automotive oils - Year-over-year growth (2024-2029) (%)
- 8.4 Industrial oils - Market size and forecast (2024-2029)
- Chart on Industrial oils - Market size and forecast (2024-2029) ($ billion)
- Data Table on Industrial oils - Market size and forecast (2024-2029) ($ billion)
- Chart on Industrial oils - Year-over-year growth (2024-2029) (%)
- Data Table on Industrial oils - Year-over-year growth (2024-2029) (%)
- 8.5 Process oils - Market size and forecast (2024-2029)
- Chart on Process oils - Market size and forecast (2024-2029) ($ billion)
- Data Table on Process oils - Market size and forecast (2024-2029) ($ billion)
- Chart on Process oils - Year-over-year growth (2024-2029) (%)
- Data Table on Process oils - Year-over-year growth (2024-2029) (%)
- 8.6 Metalworking fluids - Market size and forecast (2024-2029)
- Chart on Metalworking fluids - Market size and forecast (2024-2029) ($ billion)
- Data Table on Metalworking fluids - Market size and forecast (2024-2029) ($ billion)
- Chart on Metalworking fluids - Year-over-year growth (2024-2029) (%)
- Data Table on Metalworking fluids - Year-over-year growth (2024-2029) (%)
- 8.7 Greases - Market size and forecast (2024-2029)
- Chart on Greases - Market size and forecast (2024-2029) ($ billion)
- Data Table on Greases - Market size and forecast (2024-2029) ($ billion)
- Chart on Greases - Year-over-year growth (2024-2029) (%)
- Data Table on Greases - Year-over-year growth (2024-2029) (%)
- 8.8 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)
9 Market Segmentation by Product
- 9.1 Market segments
- Chart on Product - Market share (2024-2029) (%)
- Data Table on Product - Market share (2024-2029) (%)
- 9.2 Comparison by Product
- Chart on Comparison by Product
- Data Table on Comparison by Product
- 9.3 Mineral oil-based lubricants - Market size and forecast (2024-2029)
- Chart on Mineral oil-based lubricants - Market size and forecast (2024-2029) ($ billion)
- Data Table on Mineral oil-based lubricants - Market size and forecast (2024-2029) ($ billion)
- Chart on Mineral oil-based lubricants - Year-over-year growth (2024-2029) (%)
- Data Table on Mineral oil-based lubricants - Year-over-year growth (2024-2029) (%)
- 9.4 Synthetic lubricants - Market size and forecast (2024-2029)
- Chart on Synthetic lubricants - Market size and forecast (2024-2029) ($ billion)
- Data Table on Synthetic lubricants - Market size and forecast (2024-2029) ($ billion)
- Chart on Synthetic lubricants - Year-over-year growth (2024-2029) (%)
- Data Table on Synthetic lubricants - Year-over-year growth (2024-2029) (%)
- 9.5 Bio-based lubricants - Market size and forecast (2024-2029)
- Chart on Bio-based lubricants - Market size and forecast (2024-2029) ($ billion)
- Data Table on Bio-based lubricants - Market size and forecast (2024-2029) ($ billion)
- Chart on Bio-based lubricants - Year-over-year growth (2024-2029) (%)
- Data Table on Bio-based lubricants - Year-over-year growth (2024-2029) (%)
- 9.6 Market opportunity by Product
- Market opportunity by Product ($ billion)
- Data Table on Market opportunity by Product ($ billion)
10 Market Segmentation by Grade Type
- 10.1 Market segments
- Chart on Grade Type - Market share (2024-2029) (%)
- Data Table on Grade Type - Market share (2024-2029) (%)
- 10.2 Comparison by Grade Type
- Chart on Comparison by Grade Type
- Data Table on Comparison by Grade Type
- 10.3 Group II - Market size and forecast (2024-2029)
- Chart on Group II - Market size and forecast (2024-2029) ($ billion)
- Data Table on Group II - Market size and forecast (2024-2029) ($ billion)
- Chart on Group II - Year-over-year growth (2024-2029) (%)
- Data Table on Group II - Year-over-year growth (2024-2029) (%)
- 10.4 Group III - Market size and forecast (2024-2029)
- Chart on Group III - Market size and forecast (2024-2029) ($ billion)
- Data Table on Group III - Market size and forecast (2024-2029) ($ billion)
- Chart on Group III - Year-over-year growth (2024-2029) (%)
- Data Table on Group III - Year-over-year growth (2024-2029) (%)
- 10.5 Group I - Market size and forecast (2024-2029)
- Chart on Group I - Market size and forecast (2024-2029) ($ billion)
- Data Table on Group I - Market size and forecast (2024-2029) ($ billion)
- Chart on Group I - Year-over-year growth (2024-2029) (%)
- Data Table on Group I - Year-over-year growth (2024-2029) (%)
- 10.6 Group IV - Market size and forecast (2024-2029)
- Chart on Group IV - Market size and forecast (2024-2029) ($ billion)
- Data Table on Group IV - Market size and forecast (2024-2029) ($ billion)
- Chart on Group IV - Year-over-year growth (2024-2029) (%)
- Data Table on Group IV - Year-over-year growth (2024-2029) (%)
- 10.7 Group V - Market size and forecast (2024-2029)
- Chart on Group V - Market size and forecast (2024-2029) ($ billion)
- Data Table on Group V - Market size and forecast (2024-2029) ($ billion)
- Chart on Group V - Year-over-year growth (2024-2029) (%)
- Data Table on Group V - Year-over-year growth (2024-2029) (%)
- 10.8 Market opportunity by Grade Type
- Market opportunity by Grade Type ($ billion)
- Data Table on Market opportunity by Grade Type ($ billion)
11 Market Segmentation by End-user
- 11.1 Market segments
- Chart on End-user - Market share (2024-2029) (%)
- Data Table on End-user - Market share (2024-2029) (%)
- 11.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
- 11.3 Transportation - Market size and forecast (2024-2029)
- Chart on Transportation - Market size and forecast (2024-2029) ($ billion)
- Data Table on Transportation - Market size and forecast (2024-2029) ($ billion)
- Chart on Transportation - Year-over-year growth (2024-2029) (%)
- Data Table on Transportation - Year-over-year growth (2024-2029) (%)
- 11.4 Manufacturing - Market size and forecast (2024-2029)
- Chart on Manufacturing - Market size and forecast (2024-2029) ($ billion)
- Data Table on Manufacturing - Market size and forecast (2024-2029) ($ billion)
- Chart on Manufacturing - Year-over-year growth (2024-2029) (%)
- Data Table on Manufacturing - Year-over-year growth (2024-2029) (%)
- 11.5 Construction - Market size and forecast (2024-2029)
- Chart on Construction - Market size and forecast (2024-2029) ($ billion)
- Data Table on Construction - Market size and forecast (2024-2029) ($ billion)
- Chart on Construction - Year-over-year growth (2024-2029) (%)
- Data Table on Construction - Year-over-year growth (2024-2029) (%)
- 11.6 Mining - Market size and forecast (2024-2029)
- Chart on Mining - Market size and forecast (2024-2029) ($ billion)
- Data Table on Mining - Market size and forecast (2024-2029) ($ billion)
- Chart on Mining - Year-over-year growth (2024-2029) (%)
- Data Table on Mining - Year-over-year growth (2024-2029) (%)
- 11.7 Agriculture - Market size and forecast (2024-2029)
- Chart on Agriculture - Market size and forecast (2024-2029) ($ billion)
- Data Table on Agriculture - Market size and forecast (2024-2029) ($ billion)
- Chart on Agriculture - Year-over-year growth (2024-2029) (%)
- Data Table on Agriculture - Year-over-year growth (2024-2029) (%)
- 11.8 Others - Market size and forecast (2024-2029)
- Chart on Others - Market size and forecast (2024-2029) ($ billion)
- Data Table on Others - Market size and forecast (2024-2029) ($ billion)
- Chart on Others - Year-over-year growth (2024-2029) (%)
- Data Table on Others - Year-over-year growth (2024-2029) (%)
- 11.9 Market opportunity by End-user
- Market opportunity by End-user ($ billion)
- Data Table on Market opportunity by End-user ($ billion)
12 Market Segmentation by Distribution Channel
- 12.1 Market segments
- Chart on Distribution Channel - Market share (2024-2029) (%)
- Data Table on Distribution Channel - Market share (2024-2029) (%)
- 12.2 Comparison by Distribution Channel
- Chart on Comparison by Distribution Channel
- Data Table on Comparison by Distribution Channel
- 12.3 Direct Sales - Market size and forecast (2024-2029)
- Chart on Direct Sales - Market size and forecast (2024-2029) ($ billion)
- Data Table on Direct Sales - Market size and forecast (2024-2029) ($ billion)
- Chart on Direct Sales - Year-over-year growth (2024-2029) (%)
- Data Table on Direct Sales - Year-over-year growth (2024-2029) (%)
- 12.4 Distributors/Wholesalers - Market size and forecast (2024-2029)
- Chart on Distributors/Wholesalers - Market size and forecast (2024-2029) ($ billion)
- Data Table on Distributors/Wholesalers - Market size and forecast (2024-2029) ($ billion)
- Chart on Distributors/Wholesalers - Year-over-year growth (2024-2029) (%)
- Data Table on Distributors/Wholesalers - Year-over-year growth (2024-2029) (%)
- 12.5 Retail - Market size and forecast (2024-2029)
- Chart on Retail - Market size and forecast (2024-2029) ($ billion)
- Data Table on Retail - Market size and forecast (2024-2029) ($ billion)
- Chart on Retail - Year-over-year growth (2024-2029) (%)
- Data Table on Retail - Year-over-year growth (2024-2029) (%)
- 12.6 Online - Market size and forecast (2024-2029)
- Chart on Online - Market size and forecast (2024-2029) ($ billion)
- Data Table on Online - Market size and forecast (2024-2029) ($ billion)
- Chart on Online - Year-over-year growth (2024-2029) (%)
- Data Table on Online - Year-over-year growth (2024-2029) (%)
- 12.7 Market opportunity by Distribution Channel
- Market opportunity by Distribution Channel ($ billion)
- Data Table on Market opportunity by Distribution Channel ($ billion)
13 Customer Landscape
- 13.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
14 Geographic Landscape
- 14.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 14.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 14.3 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- 14.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- 14.5 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- 14.6 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- 14.7 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- 14.8 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 14.9 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 14.10 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 14.11 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 14.12 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ billion)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
- 14.13 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 14.14 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
- 14.15 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
- 14.16 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ billion)
- Data Table on France - Market size and forecast 2024-2029 ($ billion)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)
- 14.17 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ billion)
- Data Table on Italy - Market size and forecast 2024-2029 ($ billion)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)
- 14.18 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
- 14.19 Brazil - Market size and forecast (2024-2029)
- Chart on Brazil - Market size and forecast (2024-2029) ($ billion)
- Data Table on Brazil - Market size and forecast (2024-2029) ($ billion)
- Chart on Brazil - Year-over-year growth (2024-2029) (%)
- Data Table on Brazil - Year-over-year growth (2024-2029) (%)
- 14.20 Egypt - Market size and forecast (2024-2029)
- Chart on Egypt - Market size and forecast (2024-2029) ($ billion)
- Data Table on Egypt - Market size and forecast (2024-2029) ($ billion)
- Chart on Egypt - Year-over-year growth (2024-2029) (%)
- Data Table on Egypt - Year-over-year growth (2024-2029) (%)
- 14.21 UAE - Market size and forecast (2024-2029)
- Chart on UAE - Market size and forecast (2024-2029) ($ billion)
- Data Table on UAE - Market size and forecast (2024-2029) ($ billion)
- Chart on UAE - Year-over-year growth (2024-2029) (%)
- Data Table on UAE - Year-over-year growth (2024-2029) (%)
- 14.22 Oman - Market size and forecast (2024-2029)
- Chart on Oman - Market size and forecast (2024-2029) ($ billion)
- Data Table on Oman - Market size and forecast (2024-2029) ($ billion)
- Chart on Oman - Year-over-year growth (2024-2029) (%)
- Data Table on Oman - Year-over-year growth (2024-2029) (%)
- 14.23 Argentina - Market size and forecast (2024-2029)
- Chart on Argentina - Market size and forecast (2024-2029) ($ billion)
- Data Table on Argentina - Market size and forecast (2024-2029) ($ billion)
- Chart on Argentina - Year-over-year growth (2024-2029) (%)
- Data Table on Argentina - Year-over-year growth (2024-2029) (%)
- 14.24 KSA - Market size and forecast (2024-2029)
- Chart on KSA - Market size and forecast (2024-2029) ($ billion)
- Data Table on KSA - Market size and forecast (2024-2029) ($ billion)
- Chart on KSA - Year-over-year growth (2024-2029) (%)
- Data Table on KSA - Year-over-year growth (2024-2029) (%)
- 14.25 UAE - Market size and forecast (2024-2029)
- Chart on UAE - Market size and forecast (2024-2029) ($ billion)
- Data Table on UAE - Market size and forecast (2024-2029) ($ billion)
- Chart on UAE - Year-over-year growth (2024-2029) (%)
- Data Table on UAE - Year-over-year growth (2024-2029) (%)
- 14.26 Brazil - Market size and forecast (2024-2029)
- Chart on Brazil - Market size and forecast (2024-2029) ($ billion)
- Data Table on Brazil - Market size and forecast (2024-2029) ($ billion)
- Chart on Brazil - Year-over-year growth (2024-2029) (%)
- Data Table on Brazil - Year-over-year growth (2024-2029) (%)
- 14.27 Rest of World (ROW) - Market size and forecast (2024-2029)
- Chart on Rest of World (ROW) - Market size and forecast (2024-2029) ($ billion)
- Data Table on Rest of World (ROW) - Market size and forecast (2024-2029) ($ billion)
- Chart on Rest of World (ROW) - Year-over-year growth (2024-2029) (%)
- Data Table on Rest of World (ROW) - Year-over-year growth (2024-2029) (%)
15 Drivers, Challenges, and Opportunity/Restraints
- 15.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 15.4 Market opportunities/restraints
16 Competitive Landscape
- 16.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 16.3 Landscape disruption
- Overview on factors of disruption
- 16.4 Industry risks
- Impact of key risks on business
17 Competitive Analysis
- 17.2 Market positioning of companies
- Matrix on companies position and classification
- 17.3 BP p.l.c.
- BP p.l.c. - Overview
- BP p.l.c. - Product / Service
- BP p.l.c. - Key offerings
- 17.4 Chevron Corporation
- Chevron Corporation - Overview
- Chevron Corporation - Product / Service
- Chevron Corporation - Key offerings
- 17.5 China Petrochemical Corporation (Sinopec)
- China Petrochemical Corporation (Sinopec) - Overview
- China Petrochemical Corporation (Sinopec) - Product / Service
- China Petrochemical Corporation (Sinopec) - Key offerings
- 17.6 ConocoPhillips
- ConocoPhillips - Overview
- ConocoPhillips - Product / Service
- ConocoPhillips - Key offerings
- 17.7 Exxon Mobil Corporation
- Exxon Mobil Corporation - Overview
- Exxon Mobil Corporation - Product / Service
- Exxon Mobil Corporation - Key offerings
- 17.8 FUCHS PETROLUB SE
- FUCHS PETROLUB SE - Overview
- FUCHS PETROLUB SE - Product / Service
- FUCHS PETROLUB SE - Key offerings
- 17.9 Idemitsu Kosan Co.,Ltd.
- Idemitsu Kosan Co.,Ltd. - Overview
- Idemitsu Kosan Co.,Ltd. - Product / Service
- Idemitsu Kosan Co.,Ltd. - Key offerings
- 17.10 Indian Oil Corporation Ltd.
- Indian Oil Corporation Ltd. - Overview
- Indian Oil Corporation Ltd. - Product / Service
- Indian Oil Corporation Ltd. - Key offerings
- 17.11 JX Nippon Oil & Energy Corporation
- JX Nippon Oil & Energy Corporation - Overview
- JX Nippon Oil & Energy Corporation - Product / Service
- JX Nippon Oil & Energy Corporation - Key offerings
- 17.12 Lukoil Oil Company
- Lukoil Oil Company - Overview
- Lukoil Oil Company - Product / Service
- Lukoil Oil Company - Key offerings
- 17.13 Motul S.A.
- Motul S.A. - Overview
- Motul S.A. - Product / Service
- Motul S.A. - Key offerings
- 17.14 Petronas Lubricants International
- Petronas Lubricants International - Overview
- Petronas Lubricants International - Product / Service
- Petronas Lubricants International - Key offerings
- 17.15 Phillips 66
- Phillips 66 - Overview
- Phillips 66 - Product / Service
- Phillips 66 - Key offerings
- 17.16 Quaker Houghton
- Quaker Houghton - Overview
- Quaker Houghton - Product / Service
- Quaker Houghton - Key offerings
- 17.17 Royal Dutch Shell plc
- Royal Dutch Shell plc - Overview
- Royal Dutch Shell plc - Product / Service
- Royal Dutch Shell plc - Key offerings
- 17.18 SK Lubricants Co. Ltd.
- SK Lubricants Co. Ltd. - Overview
- SK Lubricants Co. Ltd. - Product / Service
- SK Lubricants Co. Ltd. - Key offerings
- 17.19 TotalEnergies SE
- TotalEnergies SE - Overview
- TotalEnergies SE - Product / Service
- TotalEnergies SE - Key offerings
- 17.20 Valvoline Inc.
- Valvoline Inc. - Overview
- Valvoline Inc. - Product / Service
- Valvoline Inc. - Key offerings
- 17.21 Viscosity Oil Company
- Viscosity Oil Company - Overview
- Viscosity Oil Company - Product / Service
- Viscosity Oil Company - Key offerings
- 17.22 YPF S.A.
- YPF S.A. - Overview
- YPF S.A. - Product / Service
- YPF S.A. - Key offerings
- 17.23 BP plc
- BP plc - Overview
- BP plc - Product / Service
- BP plc - Key offerings
- 17.24 Castrol
- Castrol - Overview
- Castrol - Product / Service
- Castrol - Key offerings
- 17.25 Chevron Corporation
- Chevron Corporation - Overview
- Chevron Corporation - Product / Service
- Chevron Corporation - Key offerings
- 17.26 China Petroleum & Chemical
- China Petroleum & Chemical - Overview
- China Petroleum & Chemical - Product / Service
- China Petroleum & Chemical - Key offerings
- 17.27 Emirates National Oil Company
- Emirates National Oil Company - Overview
- Emirates National Oil Company - Product / Service
- Emirates National Oil Company - Key offerings
- 17.28 ExxonMobil Corporation
- ExxonMobil Corporation - Overview
- ExxonMobil Corporation - Product / Service
- ExxonMobil Corporation - Key offerings
- 17.29 Fuchs Petrolub SE
- Fuchs Petrolub SE - Overview
- Fuchs Petrolub SE - Product / Service
- Fuchs Petrolub SE - Key offerings
- 17.30 Gazprom Neft
- Gazprom Neft - Overview
- Gazprom Neft - Product / Service
- Gazprom Neft - Key offerings
- 17.31 Gulf Oil International
- Gulf Oil International - Overview
- Gulf Oil International - Product / Service
- Gulf Oil International - Key offerings
- 17.32 Idemitsu Kosan
- Idemitsu Kosan - Overview
- Idemitsu Kosan - Product / Service
- Idemitsu Kosan - Key offerings
- 17.33 Indian Oil Corporation
- Indian Oil Corporation - Overview
- Indian Oil Corporation - Product / Service
- Indian Oil Corporation - Key offerings
- 17.34 JXTG Nippon Oil & Energy
- JXTG Nippon Oil & Energy - Overview
- JXTG Nippon Oil & Energy - Product / Service
- JXTG Nippon Oil & Energy - Key offerings
- 17.35 Lukoil
- Lukoil - Overview
- Lukoil - Product / Service
- Lukoil - Key offerings
- 17.36 Petrobras
- Petrobras - Overview
- Petrobras - Product / Service
- Petrobras - Key offerings
- 17.37 Petronas
- Petronas - Overview
- Petronas - Product / Service
- Petronas - Key offerings
- 17.38 Phillips 66
- Phillips 66 - Overview
- Phillips 66 - Product / Service
- Phillips 66 - Key offerings
- 17.39 Shell plc
- Shell plc - Overview
- Shell plc - Product / Service
- Shell plc - Key offerings
- 17.40 Sinopec
- Sinopec - Overview
- Sinopec - Product / Service
- Sinopec - Key offerings
- 17.41 TotalEnergies
- TotalEnergies - Overview
- TotalEnergies - Product / Service
- TotalEnergies - Key offerings
- 17.42 Valvoline
- Valvoline - Overview
- Valvoline - Product / Service
- Valvoline - Key offerings
18 Appendix
- 18.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 18.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 18.4 Research methodology
- 18.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 18.9 360 degree market analysis
- 360 degree market analysis
- 18.10 List of abbreviations
INFORMATION SOURCES
DATA ANALYSIS
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