Lubricants Market

Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), Product Type (Engine Oil, Hydraulic Fluid, Metalworking Fluid), Application (Transportation and Industrial lubricants), Region - Global Forecast to 2024

Report Code: CH 2730 Oct, 2019, by marketsandmarkets.com

[236 Pages Report] The global lubricants market size is projected to reach USD 188.0 billion by 2024 from USD 164.3 billion in 2019, at a CAGR of 2.7%. Massive industrialization in Asia Pacific and the Middle East & Africa, coupled with the rise in process automation in most of the industries and the increasing number of vehicles on-road are key factors driving the global lubricants industry.

Lubricants Market

Synthetic oil segment to witness the fastest growth during the forecast period.

Based on base oil, the global lubricant market is classified into mineral oil, synthetic oil, and bio-based oil. Mineral oil is the largest segment of the lubricants market due to its easy availability and low cost. However, the synthetic oil segment is expected to register the highest CAGR during the forecast period, mainly due to its superior properties.

Engine oil is projected to be the largest product type segment during the forecast period.

Engine oil is expected to lead the global lubricants market during the forecast period, followed by hydraulic oil. The dominance of engine oil is mainly due to its wide usability in the transportation sector as compared to the other types and its demand from the construction industry, especially from the construction vehicles.

Transportation is projected to be the largest application during the forecast period.

Based on the application, the market is segmented into transportation and industrial lubricants. The demand for lubricants is high in the transportation segment due to the rise in the number of vehicles on the road in China and the rising transportation demands in India and ASEAN.

Lubricants Market

APAC to account for the largest share of the global lubricants market during the forecast period.

APAC is expected to account for the largest share in the global lubricants industry during the forecast period, in terms of both volume and value. The increasing population in the region, accompanied by rising spending in the industrial sector and infrastructural developments in the developing markets of China, India, and Indonesia, is projected to make this region an ideal destination for the lubricants industry.

Key Market Players

The key market players profiled in the report include Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation  (U.S.), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), Petrochina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), and Idemitsu Kosan Co. Ltd  (Japan).

Royal Dutch Shell is one of the leading producers of lubricants. The company has undertaken expansion as its growth strategy in the lubricants market. For instance, in May 2019, the company opened its first lubricant laboratory in India. The laboratory will serve as a service provider for the growing demand for innovative lubricant products both in automotive and segments.

ExxonMobil is ranked at the second position in the lubricants market. The company offers hydraulic fluid, compressor oil, metalworking fluid, gear oil, and other lubricants such as turbine oil. The company focuses on new product launches and agreements to remain competitive in the lubricants market.

Scope Of The Report

Report Metric

Details

Years considered for the study

2017–2024

Base year considered

2018

Forecast period 2019–2024
Units considered Value (USD Thousand), Volume (Kiloton)
Segments covered Base oil, Product Type, Application and Region
Regions covered APAC, North America, Europe, Middle East & Africa, and South America
Companies profiled Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), BP PLC (U.K.), Chevron Corporation (U.S.), Total S.A. (France), Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited  (China), Fuchs Petrolub AG (Germany), Valvoline (U.S.), Lukoil (Russia), Petronas (Malaysia), Gazprom Neft (Russia), Pertamina (Indonesia) and others.

This report categorizes the global lubricants market based on base oil, product type, end-use industry, and region.

Based on base oil:

  • Mineral Oil
  • Synthetic Oil
  • Bio-based Oil

Based on product type:

  • Engine Oil
  • Hydraulic fluid
  • Metalworking fluid
  • Gear Oil
  • Compressor oil
  • Grease
  • Turbine Oil
  • Others
    • Transformer Oil
    • Refrigeration Oil
    • Textile Machinery Lubricants

Based on the application:

  • Transportation
    • Commercial vehicles
    • Passenger vehicles
    • Aviation
    • Railways
    • Marine
  • Industrial
    • Construction & Mining
    • Metal Production
    • Cement Production
    • Power Generation
    • Automotive (Vehicle Manufacturing)
    • Chemical
    • Oil & Gas
    • Textile
    • Food Processing
    • Others

Based on the region:

  • APAC
  • North America
  • Europe
  • Middle East & Arica
  • South America

Key Questions addressed by the report

  • What are the major developments impacting the market?
  • Where will all the developments take the industry in the mid to long term?
  • What is the emerging end-use industry of lubricants?
  • What are the major factors impacting market growth during the forecast period?
  • What will be the impact of Climate Control Change and other initiatives on the growth of the global industry?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Region Covered
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Market Definition and Scope
    2.2 Base Number Calculation
           2.2.1 Primary and Secondary Research
           2.2.2 Market Calculation, By End-Use Industry
           2.2.3 Market Calculation, By Base Oil
    2.3 Forecast Number Calculation
    2.4 Market Engineering Process
           2.4.1 Bottom-Up Approach
           2.4.2 Top-Down Approach
    2.5 Assumptions
    2.6 Secondary Data
    2.7 Primary Data
           2.7.1 Breakdown of Primary Interviews
           2.7.2 Key Industry Insights

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in Lubricants Market
    4.2 APAC Lubricants Market, By Base Oil and Country
    4.3 Lubricants Market, By Region
    4.4 Lubricants Market Attractiveness

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Automotive Industry in APAC, and Middle East and Africa
                    5.2.1.2 Growing GDP Led By Industrial Growth in APAC and Africa.
                    5.2.1.3 Increased Demand for High Performance Needs has Led the Lubricant Industry to Evolve and Grow.
                    5.2.1.4 Growing Demand for Group 2 and Group 3 Base Oils Fueled By Refinery Expansion
           5.2.2 Restraints
                    5.2.2.1 Shift Towards Synthetic Lubricants Causing Shrink in the Overall Demand for Lubricants
                    5.2.2.2 Growth of Hybrid Vehicle and Increasing Battery Price Parity
                    5.2.2.3 Performance Issues
           5.2.3 Opportunities
                    5.2.3.1 Leveraging E-Commerce Industry to Increase Customer Reach
                    5.2.3.2 The Demand for Renewable Energy Will Put A Positive Impact on Lubricant Industry
                    5.2.3.3 Bric to Drive Lubricant Market for Next Five Years.
           5.2.4 Challenges
                    5.2.4.1 Volatile Crude Oil Prices Pose A Challenge for the Lubricant Industry
                    5.2.4.2 Stringent Environmental Norms and Continuous Reforms By Governments Will Impact the Lubricant Market
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of Substitutes
           5.3.2 Threat of New Entrants
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.1 Industry Outlook
           5.1.1 Automotive Industry

6 Lubricant Market, By Base Oil (Page No. - 50)
    6.1 Introduction
    6.2 Mineral Oil Lubricants
           6.2.1 Growing Emphasis on Premium Grade Products to Affect the Market for Mineral Oil Lubricants
    6.3 Synthetic Lubricants
           6.3.1 Advantages of Synthetic Lubricants Over Mineral Oil-Based Lubricants to Drive the Market
    6.4 Bio-Based Lubricants
           6.4.1 The Enironmental Friendly Nature of Bio-Based Lubricants to Drive Its Market

7 Lubricant Market, By Product Type (Page No. - 60)
    7.1 Introduction
    7.2 Engine Oil
           7.2.1 The Usage of Engine Oil in All Types of Engines to Drive Its Market
    7.3 Hydraulic Oil
           7.3.1 The Growing Industrialization to Drive the Market of Hydraulic Oil
    7.4 Metal Working Fluid
           7.4.1 The Growing Metal & Mining Industry to Drive Metal Working Fluid Market
    7.5 Gear Oil
           7.5.1 Increased Spending on Industrial Infrastructure to Drive the Demand for Gear Oil
    7.6 Compressor Oil
           7.6.1 The Requirement of Compressor Oil to Cool, Seal and Lubricate Internal Components of Equipment to Drive the Compressor Oil’s Market
    7.7 Grease
           7.7.1 The Usage of Grease to Mininmize Leak and Contamination of Moving Components in A Machine to Drive Its Market
    7.8 Turbine Oil
           7.8.1 The Growing Demand for Electricity and Power Generation to Drive the Turbine Oil Market
    7.9 Others

8 Lubricant Market, By End-Use Industry (Page No. - 73)
    8.1 Introduction
    8.2 Transportation
           8.2.1 The Growing Population to Drive the Demand for Lubricants Market in Transporation Segment
           8.2.2 Commercial Vehicle
                    8.2.2.1 The Growing Need for Busses and Taxis for Transportation Purpose to Drive the Market Demand
           8.2.3 Passenger Vehicle
                    8.2.3.1 The Growing Demand for Passenger Cars to Drive the Market
                    8.2.3.2 4-Wheeler
                    8.2.3.3 2-Wheeler
           8.2.4 Aviation
                    8.2.4.1 Increasing Living Standards and Decreasing Airfare to Drive the Market Demand
           8.2.5 Marine
                    8.2.5.1 The Growth in Overseas Business and Need to Transport Goods to Drive the Market Demand
           8.2.6 Railway
                    8.2.6.1 The Growing Population Accompanied By Increasing Economy to Drive the Market Demand
    8.3 Industrial
           8.3.1 The Need of Lubricant for Proper Functioning of Equipment and Machineries to Drive the Market
           8.3.2 Construction
           8.3.3 Metal & Mining
           8.3.4 Cement Production
           8.3.5 Power Generation
           8.3.6 Automotive (Vehicle Manufacturing)
           8.3.7 Chemical
           8.3.8 Oil & Gas
           8.3.9 Textile
           8.3.11 Others

9 Lubricant Market, By Region (Page No. - 90)
    9.1 Introduction
    9.2 APAC
           9.2.1 China
                    9.2.1.1 Increasing Population in the Country Drives the Lubricants Demand
           9.2.2 Japan
                    9.2.2.1 Growing Automotive Production to Drive the Lubricant Market
           9.2.3 India
                    9.2.3.1 Rapid Urbanization and Growth in Population to Drive the Demand for Lubricants
           9.2.4 South Korea
                    9.2.4.1 Growing Marine (Deck Manufacturing) Industry to Drive the Demand for Lubricants
           9.2.5 Indonesia
                    9.2.5.1 Rising Oil Production to Drive the Demand for Lubricants
           9.2.6 Thailand
                    9.2.6.1 Rising Production of Automotive Part to Drive the Demand for Lubricants
           9.2.7 Australia & New Zealand
                    9.2.7.1 Growing Mining Industry to Drive the Demand for Lubricants
           9.2.8 Rest of APAC
    9.3 North America
           9.3.1 U.S.
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Europe
           9.4.1 Germany
           9.4.2 Russia
           9.4.3 Italy
           9.4.4 France
           9.4.5 Spain
           9.4.6 U.K.
           9.4.7 Rest of Europe
    9.5 Middle East & Africa
           9.5.1 Iran
           9.5.2 South Africa
           9.5.3 Turkey
           9.5.4 Rest of Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 173)
     10.1 Overview
     10.2 Market Share of Key Players
             10.2.1 Royal Dutch Shell
             10.2.2 Exxonmobil Corporation
             10.2.3 BP P.L.C.
     10.3 Competitive Situation and Trends
             10.3.1 Expansion
             10.3.2 Contract & Agreement
             10.3.3 Acquisition
             10.3.4 Joint Venture
             10.3.5 New Product Launch

11 Company Profiles (Page No. - 182)
     11.1 Royal Dutch Shell Plc.
             11.1.1 Business Overview
             11.1.2 Products Offered
             11.1.3 Recent Developments
             11.1.4 SWOT Analysis
             11.1.5 MnM View
     11.2 Exxonmobil Corporation
             11.2.1 Business Overview
             11.2.2 Products Offered
             11.2.3 Recent Developments
             11.2.4 SWOT Analysis
             11.2.5 MnM View
     11.3 BP Plc.
             11.3.1 Business Overview
             11.3.2 Products Offered
             11.3.3 Recent Developments
             11.3.4 SWOT Analysis
             11.3.5 MnM View
     11.4 Chevron Corporation
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 SWOT Analysis
             11.4.4 MnM View
     11.5 Total S.A.
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Recent Developments
             11.5.4 SWOT Analysis
             11.5.5 MnM View
     11.6 Petrochina Company Limited
             11.6.1 Business Overview
             11.6.2 Products Offered
     11.7 Idemitsu Kosan Co. Ltd.
             11.7.1 Products Offered
             11.7.2 Recent Developments
     11.8 Sinopec Limited
             11.8.1 Business Overview
             11.8.2 Products Offered
             11.8.3 Recent Developments
     11.9 Fuchs Petrolub AG
             11.9.1 Business Overview
             11.9.2 Products Offered
             11.9.3 Recent Developments
     11.10 Jxtg Group
             11.10.1 Business Overview
             11.10.2 Products Offered
     11.11 Valvoline
             11.11.1 Business Overview
             11.11.2 Products Offered
             11.11.3 Recent Developments
     11.12 LUKOIL
             11.12.1 Business Overview
             11.12.2 Products Offered
             11.12.3 Recent Developments
     11.13 Petronas
             11.13.1 Business Overview
             11.13.2 Products Offered
             11.13.3 Recent Developments
     11.14 Pertamina
             11.14.1 Business Overview
             11.14.2 Products Offered
     11.15 Gazprom Neft
             11.15.1 Business Overview
             11.15.2 Product Offered
             11.15.3 Recent Developments
     11.16 Indian Oil Corporation Limited
             11.16.1 Business Overview
             11.16.2 Product Offered
     11.17 Phillips 66
             11.17.1 Business Overview
             11.17.2 Product Offered
     11.18 Hindustan Petroleum Corporation Limited (HPCL)
             11.18.1 Business Overview
             11.18.2 Products Offered
     11.19 Petrobras
             11.19.1 Business Overview
             11.19.2 Products Offered

12 Appendix (Page No. - 229)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing Rt: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports


List of Tables (213 Tables)

Table 1 Increased Vehicle Sales and Higher Motorisation Rate
Table 2 Industrial Growth Rates, 2018
Table 3 GDP Growth of Key Countries
Table 4 Bric Nations Accounted for 22% of the Total Vehicle on Road in 2015
Table 5 Sale of New Vehicles in Key Countries of APAC, 2018 (Units)
Table 6 Sale of New Vehicles in Key Countries of North America, 2018 (Units)
Table 7 Sale of New Vehicle in Key Countries of Europe, 2018 (Units)
Table 8 Sale of New Vehicle in Key Countries of South America, 2018 (Units)
Table 9 Sale of New Vehicle in Key Countries of Middle East & Africa, 2018 (Units)
Table 10 Lubricants By Base Oil Category
Table 11 Lubricants Market Size, By Base Oil, 2017–2024 (Kiloton)
Table 12 Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 13 Mineral Oil Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 14 Mineral Oil Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 15 Synthetic Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 16 Synthetic Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 17 Bio-Based Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 18 Bio-Based Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 19 Lubricants Market Size, By Product Type, 2017–2024 (Kiloton)
Table 20 Lubricants Market Size, By Product Type, 2017–2024 (USD Million)
Table 21 Engine Oil: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 22 Engine Oil: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 23 Hydraulic Oil: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 24 Hydraulic Oil: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 25 Metal Working Fluid: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 26 Metal Working Fluid: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 27 Gear Oil: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 28 Gear Oil: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 29 Compressor Oil: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 30 Compressor Oil: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 31 Greases: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 32 Greases: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 33 Turbine Oil: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 34 Turbine Oil: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 35 Others: Lubricants Market Size, By Region, 2017–2024 (Kiloton)
Table 36 Others: Lubricants Market Size, By Region, 2017–2024 (USD Million)
Table 37 Lubricants Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 38 Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 39 Lubricants Market Size for Transportation Industry, By Region, 2017–2024 (Kiloton)
Table 40 Lubricants Market Size for Transportation Industry, By Region, 2017–2024 (USD Million)
Table 41 Lubricants Market Size in Commercial Vehicle, By Region, 2017–2024 (Kiloton)
Table 42 Lubricants Market Size in Commercial Vehicle By Region, 2017–2024 (USD Million)
Table 43 Lubricants Market Size in Passenger Vehicle, By Region, 2017–2024 (Kiloton)
Table 44 Lubricants Market Size in Passenger Vehicle, By Region, 2017–2024 (USD Million)
Table 45 Lubricants Market Size in Passenger Vehicles, By Sub-Segment, 2017–2024 (Kiloton)
Table 46 Lubricants Market Size in Passenger Vehicles, By Sub-Segment, 2017–2024 (USD Million)
Table 47 Lubricants Market Size in 4-Wheeler Passenger Vehicle, By Region, 2017–2024 (Kiloton)
Table 48 Lubricants Market Size in 4-Wheeler Passenger Vehicle, By Region, 2017–2024 (USD Million)
Table 49 Lubricants Market Size in 2-Wheeler Passenger Vehicle, By Region, 2017–2024 (Kiloton)
Table 50 Lubricants Market Size in 2-Wheeler Passenger Vehicle, By Region, 2017–2024 (USD Million)
Table 51 Lubricants Market Size in Aviation Industry, By Region, 2017–2024 (Kiloton)
Table 52 Lubricants Market Size in Aviation Industry, By Region, 2017–2024 (USD Million)
Table 53 Lubricants Market Size in Marine Industry, By Region, 2017–2024 (Kiloton)
Table 54 Lubricants Market Size in Marine Industry, By Region, 2017–2024 (USD Million)
Table 55 Lubricants Market Size in Railway Industry, By Region, 2017–2024 (Kiloton)
Table 56 Lubricants Market Size in Railway Industry, By Region, 2017–2024 (USD Million)
Table 57 Lubricants Market Size, By Region, 2017-2024 (Kiloton)
Table 59 APAC: Lubricants Market Size, By Country, 2017–2024 (Kiloton)
Table 60 APAC: Lubricants Market Size, By Country, 2017–2024 (USD Million)
Table 61 APAC: Lubricants Market Size, By Base Oil, 2017–2024 (Kiloton)
Table 62 APAC: Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 63 APAC: Lubricants Market Size, By Product Type, 2017–2024 (Kiloton)
Table 64 APAC: Lubricants Market Size, By Product Type, 2017–2024 (USD Million)
Table 65 APAC: Lubricants Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 66 APAC: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 67 APAC: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (Kiloton)
Table 68 APAC: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (USD Million)
Table 69 China: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 70 China: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 71 China: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 72 China: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 73 Japan: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 74 Japan: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 75 Japan: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 76 Japan: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 77 India: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 78 India: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 79 India: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 80 India: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 81 South Korea: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 82 South Korea: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 83 South Korea: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 84 South Korea: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 85 Indonesia: Lubricants  Market Size, By Base Oil, 2017–2024 (Tons)
Table 86 Indonesia: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 87 Indonesia: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 88 Indonesia: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 89 Thailand: Lubricants  Market Size, By Base Oil, 2017–2024 (Tons)
Table 90 Thailand: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 91 Thailand: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 92 Thailand: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 93 Australia & New Zealand : Lubricants  Market Size, By Base Oil, 2017–2024 (Tons)
Table 94 Australia & New Zealand: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 95 Australia & New Zealand: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 96 Australia & New Zealand: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 97 Rest of APAC: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 98 Rest of APAC: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 99 Rest of APAC: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 100 Rest of APAC: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 104 North America: Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 106 North America: Lubricants Market Size, By Product Type, 2017–2024 (USD Million)
Table 107 North America: Lubricants Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 108 North America: Lubricants Market Size, By End-Use Industry,  2017–2024 (USD Million)
Table 109 North America: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (Kiloton)
Table 110 North America: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (USD Million)
Table 111 U.S.: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 112 U.S.: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 113 U.S.: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 114 U.S.: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 115 Canada: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 116 Canada: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 117 Canada: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 118 Canada: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 119 Mexico: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 120 Mexico: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 121 Mexico: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 122 Mexico: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 123 Europe: Lubricants Market Size, By Country, 2017-2024 (Kiloton)
Table 124 Europe: Lubricants Market Size, By Country, 2017-2024 (USD Million)
Table 125 Europe: Lubricants Market Size, By Base Oil, 2017-2024 (Kiloton)
Table 126 Europe: Lubricants Market Size, By Base Oil, 2017-2024  (USD Million)
Table 127 Europe: Lubricants Market Size, By Product Type, 2017-2024  (Kiloton)
Table 128 Europe: Lubricants Market Size, By Product  Type, 2017-2024  (USD Million)
Table 129 Europe: Lubricants Market Size,  By End-Use Industry, 2017-2024 (Kiloton)
Table 130 Europe: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 131 Europe: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017-2024 (Kiloton)
Table 132 Europe: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017-2024 (Kiloton)
Table 133 Germany : Lubricants Market Size, By Type, 2017-2024 (Tons)
Table 134 Germany: Lubricants Market Size, By Type, 2017-2024 (USD Thousand)
Table 135 Germany: Lubricants Market Size, By End-Use Industry, 2017-2024 (Tons)
Table 136 Germany: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 137 Russia: Lubricants Market Size, By End-Use Industry, 2017-2024 (Tons)
Table 138 Russia: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 139 Russia: Lubricants Market Size,  By End-Use Industry, 2017-2024 (Tons)
Table 140 Russia: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 141 Italy: Lubricants Market Size, By Type, 2017-2024 (Tons)
Table 142 Italy: Lubricants Market Size, By Type, 2017-2024 (USD Thousand)
Table 143 Italy: Lubricants Market Size,  By End-Use Industry, 2017-2024 (Tons)
Table 144 Italy: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 145 France : Lubricants Market Size, By Type, 2017-2024 (Tons)
Table 146 France : Lubricants Market Size, By Type, 2017-2024 (USD Thousand)
Table 147 France: Lubricants Market Size, By End-Use Industry, 2017-2024 (Tons)
Table 148 France: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 149 Spain: Lubricants Market Size, By Base Oil, 2017-2024 (Tons)
Table 150 Spain: Lubricants Market Size , By Base Oil, 2017-2024 (USD Thousand)
Table 151 Spain: Lubricants Market Size,  By End-Use Industry, 2017-2024 (Tons)
Table 152 Spain: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 153 U.K.: Lubricants Market Size, By Type, 2017-2024 (Tons)
Table 154 U.K.: Lubricants Market Size, By Type, 2017-2024 (USD Thousand)
Table 155 U.K.: Lubricants Market Size,  By End-Use Industry, 2017-2024 (Tons)
Table 156 U.K.: Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 157 Rest of Europe : Lubricants Market Size, By Base Oil, 2017-2024 (Tons)
Table 158 Rest of Europe : Lubricants Market Size, By Base Oil, 2017-2024 (USD Thousand)
Table 159 Rest of Europe : Lubricants Market Size, By End-Use Industry, 2017-2024 (Tons)
Table 160 Rest of Europe : Lubricants Market Size, By End-Use Industry, 2017-2024 (USD Thousand)
Table 161 Middle East & Africa: Lubricants Market Size, By Country, 2017–2024 (Kiloton)
Table 162 Middle East & Africa: Lubricants Market Size, By Country,  2017–2024 (USD Million)
Table 163 Middle East & Africa: Lubricants Market Size, By Base Oil, 2017–2024 (Kiloton)
Table 164 Middle East & Africa: Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 165 Middle East & Africa: Lubricants Market Size, By Product Type, 2017–2024 (Kiloton)
Table 166 Middle East & Africa: Lubricants Market Size, By Product Type, 2017–2024 (USD Million)
Table 167 Middle East & Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 168 Middle East & Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 169 Middle East & Africa: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (Kiloton)
Table 170 Middle East & Africa: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (USD Million)
Table 171 Iran: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 172 Iran: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 173 Iran: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 174 Iran: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 175 South Africa: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 176 South Africa: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 177 South Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 178 South Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 179 Turkey: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 180 Turkey: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 181 Turkey: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 182 Turkey: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 183 Rest of Middle East & Africa: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 184 Rest of Middle East & Africa: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 185 Rest of Middle East & Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 186 Rest of Middle East & Africa: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 187 South America: Lubricants Market Size, By Base Oil, 2017–2024 (Kiloton)
Table 188 South America: Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 189 South America: Lubricants Market Size, By Base Oil, 2017–2024 (Kiloton)
Table 190 South America: Lubricants Market Size, By Base Oil, 2017–2024 (USD Million)
Table 191 South America: Lubricants Market Size, By Product Type, 2017–2024 (Kiloton)
Table 192 South America: Lubricants Market Size, By Product Type, 2017–2024 (USD Million)
Table 193 South America: Lubricants Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 194 South America: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 195 South America: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (Kiloton)
Table 196 South America: Lubricants Market Size in Passenger Vehicle, By Sub-Application, 2017–2024 (USD Million)
Table 197 Brazil: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 198 Brazil: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 199 Brazil: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 200 Brazil: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 201 Argentina: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 202 Argentina: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 203 Argentina: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 204 Argentina: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 205 Rest of South America: Lubricants Market Size, By Base Oil, 2017–2024 (Tons)
Table 206 Rest of South America: Lubricants Market Size, By Base Oil, 2017–2024 (USD Thousand)
Table 207 Rest of South America: Lubricants Market Size, By End-Use Industry, 2017–2024 (Tons)
Table 208 Rest of South America: Lubricants Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 209 Expansion, 2015–2019
Table 210 Contract & Agreement, 2015–2019
Table 211 Acquisition, 2015–2019
Table 212 Joint Venture, 2015–2019
Table 213 New Product Launch, 2015–2019


List of Figures (49 Figures)

Figure 1 Lubricants: Market Segmentation
Figure 2 Lubricants Market: Bottom-Up Approach
Figure 3 Lubricants Market: Top-Down Approach
Figure 4 Mineral Oil Segment Accounted for the Larger Market Share in 2018
Figure 5 Engine Oil to Be the Leading Product Type of Lubricants Market
Figure 6 Passenger Vehicle to Be the Leading Application in Transportation End-Use Industry of Lubricants Market
Figure 7 Construction to Be the Leading Industry in Industrial Application of Lubricants Market
Figure 8 APAC Accounted for the Largest Market Share in 2018
Figure 9 Steady Growth in Lubricants Market During the Forecast Period
Figure 10 China Led the APAC Lubricants Market in 2018
Figure 11 APAC to Be Largest Market for Lubricants During the Forecast Period
Figure 12 China is Projected to Be the Fastest-Growing Market During the Forecast Period
Figure 13 Factors Governing the Lubricants Market
Figure 14 Lubricants Market: Porter’s Five Forces Analysis
Figure 15 Mineral Oil Lubricants to Dominate the Lubricants Market During the Forecast Period
Figure 16 Factors Affecting the Global Synthetic Lurbicant Market Demand
Figure 17 Engine Oil to Domiante Lubricants Market Between 2019 and 2024
Figure 18 Passenger Vehicle to Be the Largest Application in Transportation End-Use Industry
Figure 19 Construction to Be the Largest Application in Transportation End-Use Industry Segment
Figure 20 APAC to Be the Largest Market for Lubricants During the Forecast Period
Figure 21 APAC Market Snapshot: China Dominates the Lubricants Market in APAC
Figure 22 North America Market Snapshot: Us to Be the Largest Lubricants Market
Figure 23 Europe Market Snapshot: Russia to Be the Fastest Growing Market
Figure 24 Expansion is  Most Preferred Growth Strategy Adopted By Major Players Between 2016 and 2019
Figure 25 Lubricants Market Share, By Company, 2018
Figure 26 Royal Dutch Shell Plc.: Company Snapshot
Figure 27 Royal Dutch Shell Plc.: SWOT Analysis
Figure 28 Exxonmobil Corporation.: Company Snapshot
Figure 29 Exxonmobil Corporation: SWOT Analysis
Figure 30 BP Plc.: Company Snapshot
Figure 31 BP Plc.: SWOT Analysis
Figure 32 Chevron Corporation: Company Snapshot
Figure 33 Chevron Corporation: SWOT Analysis
Figure 34 Total S.A.: Company Snapshot
Figure 35 Total S.A.: SWOT Analysis
Figure 36 Petrochina Company Limited: Company Snapshot
Figure 37 Idemitsu Kosan Co. Ltd.: Company Snapshot
Figure 38 Sinopec Limited: Company Snapshot
Figure 39 Fuchs Petrolub AG: Company Snapshot
Figure 40 Jxtg Group Petrolub AG: Company Snapshot
Figure 41 Valvoline: Company Snapshot
Figure 42 LUKOIL: Company Snapshot
Figure 43 Petronas: Company Snapshot`
Figure 44 Pertamina: Company Snapshot
Figure 45 Gazprom Neft: Company Snapshot
Figure 46 Indian Oil Corporation Limited: Company Snapshot
Figure 47 Phillips 66: Company Snapshot
Figure 48 Hindustan Petroleum Corporation Limited: Company Snapshot
Figure 49 Petrobras: Company Snapshot

The study involved four major activities in estimating the market size for lubricants. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives.

Primary Research

The lubricant market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The end-use industries characterize the demand side of this market. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Lubricants Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the lubricants market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

The key players in the industry were identified through extensive secondary research.

  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides of lubricants.

Report Objectives

  • To define, segment, and project the size of the global Lubricant market based on base oil, type, end-use industry, and region
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micromarkets1 with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To project the size of the market in terms of value and volume, with respect to five main regions (along with key country-level data), namely, North America, Europe, Asia-Pacific, and the Rest of the world.
  • To strategically profile key players and comprehensively analyze their core competencies2
  • To track and analyze research & development (R&D)  and competitive developments such as joint ventures, mergers & acquisitions, and new product developments, in the Lubricants market

Available Customizations

Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Further breakdown of a region with respect to a particular country or additional source type

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Report Code
CH 2730
Published ON
Oct, 2019
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