Lubricants Market, 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), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Feb 2025

Code : CMI5004

Pages :120

Formats :

Excel and PDF

Industry : Bulk Chemicals

Lubricants Market Size and Trends

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, exhibiting a compound annual growth rate (CAGR) of 3.9% from 2025 to 2032.

Lubricants Market Key Factors

To learn more about this report, Request sample copy

The demand for automotive lubricants is likely to increase due to rising production and sales of vehicles. Growing manufacturing activity along with increasing consumption of machinery and equipment across industries is expected to boost demand for industrial lubricants. Rapid industrialization and urbanization in emerging economies are further expected to create new opportunities for lubricant manufacturers over the coming years. However, stringent environmental regulations regarding carbon emissions may negatively impact the growth of the market. Innovative product development and use of bio-based and synthetic lubricants are expected to provide opportunities for sustainable growth in the global lubricants market.

Rising Automotive Industry

Global automotive industry has witnessed robust growth in the recent years with rising vehicle production and sales worldwide. According to various estimates, there were around 60 million passenger cars and commercial vehicles manufactured across major markets in 2017 alone. As vehicle fleet increases globally with higher automobile ownership, it directly leads to higher demand for various automotive lubricants. Lubricants such as engine oil, gear oil, brake fluid, grease, and others are critical components for smooth functioning as well as increasing the lifespan of different vehicle parts that are subjected to friction and wear during operations. Most vehicles require oil change and fluid check or refill at regular intervals as per manufacturer's guidelines. This recurring demand from aftermarket sustains consistent sales of lubricant products even after the sale of new vehicles. With developing countries increasingly adopting personal motorization, their vehicle parc is expected to rise exponentially in coming years.