Lubricants Market Size, Share & Trends Analysis Report By Product (Mineral Oil, Synthetic Oil), By Application (Industrial, Automotive, Marine, Aerospace), By Region (North America, Europe, APAC, Latin America, Middle East & Africa), And Segment Forecasts, 2025 - 2030

Lubricants Market Summary

Lubricants are an essential part of rapidly expanding industries. They are used between two relatively moving machinery parts to reduce friction and wear & tear. They can be either petroleum-based or water-based and are essential for proper machinery functioning. Lubricants also decrease operational downtime and eventually increase overall productivity. Lubricants are extensively used in processing industries and automobile parts, especially brakes and engines, which need lubrication for continuous, smooth functioning.

The increasing imports and exports of piston engine lubricants are contributing to market growth. The product demand is driven by the rising focus of consumers on enhancing vehicle performance, coupled with the introduction of innovative & premium product offerings. Future growth will be highly dependent on motor vehicle production and the miles covered by each vehicle. Furthermore, consumers are looking for standard and specialized lubricants for their regular vehicles to ensure the smooth functioning of their vehicles and reduce long-term maintenance costs.

Lubricant manufacturing requires crude oil, tight oil, and other additives to formulate all lubricant types. There are multiple additives incorporated in lubricants to enhance their functionality and properties. These include antioxidants, extreme pressure additives, rust- & corrosion-prevention additives, detergents, viscosity index improvers, anti-wear agents, and dispersants. Lubricants are 90% base oil and 10% additives, wherein base oils include petrochemical fractions, such as fluorocarbons, esters, polyolefins, and silicones. Base oils increase the viscosity of the lubricants and reduce wear & tear. Paraffinic and naphthenic are the two essential base oils used in lubricant formulations.

Drivers, Opportunities & Restraints

The growing demand from industrial machinery and the automotive sector is a major driver for the lubricants market. As vehicle ownership increases and industrial output rises, especially in emerging economies, there is a corresponding need for lubricants to ensure machinery efficiency and longevity. This sustained consumption supports consistent market growth across regions.

Stringent environmental regulations regarding emissions and waste oil disposal are restraining the expansion of the lubricants industry. Moreover, the rising adoption of electric vehicles (EVs), which require fewer or different types of lubricants, is reducing the long-term demand from the automotive sector. These trends pose challenges for traditional lubricant manufacturers to adapt and innovate.

There is a growing opportunity in the development and commercialization of bio-based and high-performance synthetic lubricants. These products offer better thermal stability, longer service intervals, and lower environmental impact, making them attractive in both industrial and automotive applications. Increasing sustainability awareness and regulatory support further amplify this opportunity.

Product Insights

The mineral oil segment accounted for the largest revenue share of 63.7% in 2024 and is expected to continue to dominate the industry over the forecast period. Cost-effectiveness and wide availability drive the growth of the market. Mineral oil-based lubricants are significantly more affordable than their synthetic or bio-based counterparts, making them attractive for cost-sensitive industries and consumers. Derived from refining crude oil, mineral oils are abundantly available, supporting steady supply and production. This cost advantage is particularly crucial in emerging markets, where price remains a key purchasing criterion for automotive and industrial users.

The synthetic oil segment is projected to grow at a significant CAGR over the forecast period. Superior performance and efficiency drive the market growth. Synthetic oils offer enhanced thermal stability, better viscosity control, and superior lubrication across a wide temperature range compared to conventional oils. These qualities translate to improved engine performance, reduced friction, and longer oil change intervals, making them especially desirable for high-performance vehicles, heavy-duty machinery, and extreme environments. As consumers and industries seek reliability and performance, demand for synthetic lubricants continues to rise.

Application Insights

The automotive segment dominated the global industry in 2024 with the largest revenue share of 53.3%. This is attributed to the increased sales of consumer automobiles, such as buses, trucks, and other forms of passenger transport. Economic growth in emerging markets, such as China, India, and Brazil, has led to the betterment of public transportation in these regions. This trend is expected to strengthen the demand for commercial automotive lubricants further. Increasing sales of commercial vehicles, such as heavy-duty trucks, and automotive construction, such as cranes, bulldozers, and concrete mixers, are expected to complement the segment growth.

The industrial segment is expected to grow at a significant CAGR over the forecast period. Industrial lubricants are water-based or petroleum-based substances used to prevent metal-to-metal contact in dyes, tooling, or finished components by reducing friction and protecting against corrosion. These lubricants are widely utilized in numerous industrial applications such as gas engines, hydraulics, air compressors, auxiliary equipment, heat transfer systems, paper machines, turbines, metal working, bearings, food machinery, and natural gas compressors.

Regional Insights

Asia Pacific dominated the lubricants market with a revenue share of 44.9% in 2024. The government initiatives of various countries in Asia Pacific to boost domestic manufacturing activities as an attempt to reduce the reliance on imports and improve the sustainability of the industrial sector in emerging economies, such as India, Vietnam, Indonesia, and Thailand, are expected to drive the consumption of lubricants in the expanding industrial sector. For instance, the “Make in India” initiative launched by the government of India to boost innovation, growth, and investments, as well as to build good manufacturing infrastructure, is helping expand the industrial sector in the country.

The China lubricants market is projected to grow during the forecast period. china held over 42.1% revenue share of the overall asia pacific lubricants market The mining industry in China is growing at a rapid pace due to the presence of several government-owned mines. Due to the high demand, mining operations for coal, iron ore, and gold have been on the rise. This, in turn, is increasing the use of heavy equipment required for mining operations, which is expected to boost the demand for lubricants in the country.

North America Lubricants Market Trends

North America is seeing increased demand for lubricants due to expanding industrial sectors and rising automotive sales. In Mexico, growth in the automotive manufacturing industry and infrastructure development supports lubricant consumption. Canada's harsh climatic conditions also fuel demand for premium, cold-weather-resistant lubricants, particularly synthetic variants.

U.S. Lubricants Market Trends

The U.S. lubricants industry dominates North America, driven by a large and aging vehicle fleet, industrial automation, and demand for high-performance lubricants in manufacturing and aerospace. Additionally, strict emissions regulations and consumer preference for synthetic and semi-synthetic oils are pushing innovation in lubricant formulations. The country’s robust transportation and logistics sectors further contribute to sustained lubricant demand.

Europe Lubricants Market Trends

Strict environmental standards, a shift toward electric and hybrid vehicles, and strong industrial demand in Germany, France, and the UK influence Europe’s lubricant industry growth. While EV adoption may dampen traditional lubricant use, it is offset by demand for specialized thermal management fluids and industrial lubricants. In addition, technological innovation and sustainability goals are driving the transition to bio-based and low-viscosity lubricants.

Latin America Lubricants Market Trends

In Latin America, rising urbanization, expanding automotive ownership, and a recovering manufacturing base are boosting lubricant demand. Countries such as Brazil and Argentina are experiencing growth in the passenger car and commercial vehicle segments, leading to increased consumption of engine oils and transmission fluids. The agricultural and mining sectors also significantly contribute to industrial lubricant usage.

Middle East & Africa Lubricants Market Trends

The MEA lubricants industry is growing due to increasing vehicle ownership, infrastructure development, and expanding oil & gas activities, especially in Gulf countries. Industrial expansion in countries such as Saudi Arabia and the UAE, along with a growing transportation fleet, supports demand for both automotive and industrial lubricants. In addition, Africa’s emerging economies are witnessing rising demand tied to the construction and mining industries.

Key Lubricants Company Insights

Some of the key players operating in the market include Dow and Linde Plc

• TotalEnergies is an oil & gas integrated company. The company has its business segments in upstream, refining & specialty chemicals, and marketing & services. Total Oil India Private Ltd. is an entirely owned subsidiary of TotalEnergies. It has exploration and production activities in more than 50 countries. It operates in the renewable energies and power generation sectors. The company has a presence in the Middle East, Europe & CIS, Africa, Asia Pacific, the U.S., Canada / South America, and Australia / Oceania. Its products have numerous applications in transportation, household appliances, food, industrial packaging, and other sectors. The company transports 131 million metric tons of crude oil and other refined products.

Recent Developments

• In July 2024, AMSOIL INC. launched a new synthetic blend motor oil product line for installers. The latest Synthetic-Blend Motor Oil is available in three viscosities and has more than 50% synthetic content. It offers motorists better performance and protection compared to conventional oils. It is designed with high-quality components that protect modern engines, including direct injection and turbochargers. AMSOIL Synthetic-Blend Motor Oil has three viscosities: 5W-20, 5W-30, and 0W-20.

Lubricants Market Report Scope

Global Lubricants Market Report Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global lubricants market report based on product, application, and region:

• Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

  • Mineral Oil

  • Synthetic Oil

  • Bio-Based Oils

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

  • Industrial

    • Process Oils

    • General Industrial Oils

    • Metalworking Fluids

    • Industrial Engine Oil

    • Greases

    • Process Oils

    • Other Industrials

  • Automotive

    • Engine Oil

    • Gear Oil

    • Transmission Fluids

    • Brake Fluids

    • Coolants

    • Greases

  • Marines

    • Engine Oil

    • Hydraulic Oil

    • Gear Oil

    • Turbine Oil

    • Greases

    • Others

  • Aerospace

    • Gas Turbine Oil

    • Piston Engine Oil

    • Hydraulic Fluids

    • Others

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa