Automotive Lubricants Market

Automotive Lubricants Market Size (2023-2028):

The automotive lubricants market was projected at USD 65.8 billion in 2022 and is predicted to register a CAGR of 4.6% during the foreseen time from 2023-2028

Automotive lubricants are the material used to scale back the friction between moving the surface of the machine, which results in the reduction in heat generation due to the friction.

Automotive lubricants are accustomed to reducing friction between two surfaces of the parts of a vehicle an example of futuristic technologies, which are capable of developing durable surfaces, improving overall order while fulfilling environmental norms. These lubricants also assist to manage the vehicle temperature by absorbing the heat caused by moving parts of the vehicle and transferring it to the cooler.

Automotive Lubricants Market Drivers:

The automotive lubricants market is rising because of the growing demand for engine oils, brake fluids, and transmission oils in both consumer and commercial vehicles. Rising sales of motorcycles also witness to further strengthening of this growth over the foreseen phase. The shift in trend towards green derivatives is additionally expected to drive the market over the foreseen phase. Important factors driving the market studied are the raising adoption of high-performance lubricants. On the opposite hand, extended drain intervals and the modest impact of electrical vehicles (EVs) are predicted to hinder the market’s growth. Automotive lubricants account for over 55% of the worldwide lubricants market and the demand for high-quality lube is predicted to make significant opportunities over the long-term foreseen phase.

Automotive Lubricants Market Restraints:

The stringent environmental rules for CO2 emission have source the automakers to carry toward electronic vehicles (EVs), which put a restraint on the growth of automotive lubricants over the anticipated period.

AUTOMOTIVE LUBRICANTS MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Lubricants Market By Application:

• Engine Oil

• Gear & Brake Oil

• Transmission Fluids

• Greases

• Others

Engine oils are widely used to lubricate combustion engines and are usually composed of 75-90% base oils and over 10-25% additives. They are normally used for various applications, like the decline in wear and tear, protection from corrosion, and smooth functioning of engine parts. They are used by creating a skinny film between the moving parts for enhancing the transfer of warmth and cutting off tension during the contact of parts. Engine oil holds the most important market share in 2018 due to its properties, which help the engine to extend its fuel efficiency, and performance, and reduce harmful emissions.

Automotive Lubricants Market By Base Oil:

• Mineral Oil Lubricants
• Synthetic Lubricants
• Semisynthetic Lubricants
• Bio-Based Lubricants

Notable growth has been seen within the market of bio-based lubes because of the harmful effects of automotive lubricants on the environment and pollution caused by diesel vehicles. Moreover, to satisfy government norms and regulations, many countries are likely to scale back the usage of gasoline and diesel cars in the future. However, leading manufacturers specialize in the assembly of eco-friendly automotive lubricants, which are less toxic, and have zero effect on human health and therefore the environment. 

Automotive Lubricants Market By Vehicle Type:

• Passenger Cars

• Light Commercial Vehicles (LCV)

• Heavy Commercial Vehicles (HCV)

• Motorbikes

Passenger cars held the most important market share in 2018 because of advantages like better mileage, individual safety, low cost, good resale value, and basic and more reliability over various products of the segment.

Recent Developments:

• ExxonMobil Lubricants Pvt. Ltd. has introduced 'Mobil Super Moto Synthetic Technology 15W-50' engine oil which designs particularly for 4-stroke motorcycle engines
• ExxonMobil has completed the purchase of PT Federal Karyatama (FKT), one of the leading producers and marketers of motorcycle lubricants in Indonesia, from PT Mitra Pinasthika Mustika Tbk. and its affiliate
• Chevron's Lubricants University, an educational website for continuation professionals, has launched a new track, Fundamentals of Automotive Gear Lubrication, as part of its online courses portfolio.

Automotive Lubricants Market Region-wise analysis:

Market Segmentation based on the region:

1. North America
   1. U.S
   2. Canada
2. Europe
   1. Norway
   2. Germany
   3. Sweden
3. Asia Pacific
   1. China
   2. India
   3. Japan
4. Latin America
   1. Brazil
   2. Mexico
   3. Argentina
5. The Middle East and Africa

a. the Middle East

b. Africa

North America regions are likely to possess slow growth within the automotive lubricants industry because of the strict government policies on CO2 emission and automakers are stimulating the assembly of more electric vehicles.

Over the last few years, the European automotive lubricants market has been going through a transition period, which is predicted to vary within the forecast period. In Europe, Western Europe accounts for almost half of the entire demand for automotive lubricants. Country-wise Russia and Germany dominate the global automotive lubricants market in terms of demand, accounting for a big share of regional demand followed by the United Kingdom, France, and other European countries. The Asia-Pacific region accounted for the leading part of the worldwide market share. Within the region, China is the largest lubricant market and is predicted to stay so within the coming years, regardless of the economy witnessing a slow economic process. The government in various developing nations is replacing obsolete vehicles, a growing interest in improved and high-performance lubricants. India is the second-largest regional business for these lubricants and the third-largest in the world. The global marketplace for automotive lubricants is predicted to be dominated by the Asia-Pacific area during the foreseen phase.

The initial cost of EVs being high is a big drawback for the market in the Latin American area, with rising interest in commercial vehicles and automotive lubricants for vehicle maintenance. This is fueling the expansion of the automotive lubricants business in the regional market. The Middle East and Africa will create remunerative opportunities in foreseen phase.

Automotive Lubricants Market Key Players of Market:

Some of the major players in the global automotive lubricants market include ExxonMobil Corporation (US), Chevron Corporation (US), Fuchs (US), ConocoPhillips Corporation (US), BP PLC (UK), LUKOIL (Russia), Idemitsu Kosan Co., Ltd (Japan), Royal Dutch Shell PLC (Netherlands), PT Pertamina (Persero) (Indonesia), Total (France), Ashland Inc. (US), LIQUI MOLY GmbH (Germany), Gulf Oil (India), American Synthol, Inc. (US), and ROCOL (UK)