Fairfield Market Research Lubricants Market Size, Share, Growth, Type, Trends 2023-2030

Lubricants Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Chemicals & Materials


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Lubricants Remain at the Core of Industrialisation, and Economic Progress

Lubricants, among the most vital elements in industrial operations, are extensively used to lessen the friction, abrasion, and to eliminate residual deposits in the mechanical components, thereby extending machine runtimes. In an era of sustainability, energy savings and emission control, lubricants continue to play an important role in long-term industry goals, i.e., resource management, and environmental sustainability. Consequently, lubricants support sustainability targets in production and manufacturing spaces. Lubricant market will continue to exhibit sustained performance as lubricants allow lesser mechanical friction, which means reduced power consumption, and fewer emissions.

Every year, more than 35 MT lubricants are consumed across various industries. Base oils, and chemical additives are the key components of lubricants. Mineral lubricants have long been the first choice among end users owing to their cost-competitiveness, and wider availability compared to their synthetic counterparts. However, demand trends have gradually started shifting toward better performance, and sustainable synthetic or semi-synthetic lubricants. Furthermore, in global lubricants market, synthetic lubricants have the advantage of longevity owing to their low volatility and improved thermal stability compared to mineral lubricants. Growing emphasis on utilising environmentally sustainable solutions in transportation sector to achieve improved fuel economy, and reduced carbon emissions will also significantly accelerate the growth of lubricants market in the near future.

Motorisation, and Industrialisation Drive Lubricants Market in in Asia Pacific

In 2018, Asia Pacific accounted for more than 45% of the total lubricants market value. Global lubricants market has seen a dramatic rebound post-2008-2009 economic recession. Asia Pacific is a driving region aiding this recovery, industrialisation, and motorisation undergo a massive evolution. However, the region still holds less per capita lubricants consumption compared to developed regions of North America, and Europe. Post-2008, North America, and Europe have shifted to high-quality lubricants with improved efficiency, and long-drain intervals. Furthermore, environmental regulations in these regions regarding disposal and usage of lubricants are expected to boost lubricants derived from eco-friendly, bio-based materials, or re-refined base oils. The Middle East & Africa is also expected to exhibit fastest growth owing to the changing landscape in infrastructure investments, and automotive industry. Robust investments in mining, and energy and transportation sectors has been a boon to the rise in demand for lubricants in the region.

Market to Thrive with Flourishing Manufacturing Sector in Emerging Economies  

New government policies and initiatives are likely to encourage the manufacturing sector, especially in the Indian subcontinent, and southeast Asia. As newer production technologies and infrastructure develops in the region, the lubricants market will gear up to meet the customised needs. Per capita consumption of lubricants is around 3.7 Kg as compared to the world average of 5 Kg, creating an immense market potential for years to come. There is substantial growth in demand for metalworking fluids, hydraulic fluids, industrial grease, and marine oils due to advent of industrial sector.

As the world moves toward the electrification of roads, electric vehicles (EVs), and hybrid vehicles (HEVs) will keep on redefining the automotive industry. Demands for lubricants will also shape up with the ad cements in automotive industry. Currently, engine oil comprises the largest share in the segment. The automotive industry commands more than half of the consumption of lubricants across the globe. A new set of lubricants needs to be developed to meet the performance of electrical and gear components in next-generation cars. A lot of research and development is being carried out in the field of bio-lubricants, which can be integrated with EV and HEV fluids for an eco-friendlier solution.

Electric Vehicles Batteries, and Environmental Regulations to Pose Serious Threat  

Evolution of battery technology, environmental regulations, and industry consolidation are considered among the major disruptive factors affecting the growth of lubricants. Demand for lubricants will undergo a drastic change in consumption trends, especially with the introduction of battery-operated electric vehicles. BEVs are expected to capture 5-10% of the total vehicle fleet by 2030 and expected to pose a larger challenge to the lubricants market as they do not use engine oils and consumes a minimal amount of grease. Tougher environmental policies will also give rise to the industrial revolution focusing on improved recycling technologies and circular economies, thus affecting the overall lubricants demand in industrial sectors.

Market Leaders Focus on 3Ps of Sustainability: Profit, Planet, and People 

Global lubricants market is highly vibrant and intense, with plenty of global, regional, and independent lubricant manufacturers. Companies such as Shell, ExxonMobil, Total, BP, Chevron, and Sinopec have integrated business operations. Key companies continue to focus on strategic M&A, diversification, and business restructuring plans to gain sustainability, and resilience in lubricants market.

Recent Notable Developments in Lubricants Space

  • In 2019, Shell announced carbon-neutral wind turbine oil, Shell Omala S5 Wind 320. Shell has upped its efforts to create an environmentally sustainable portfolio. This new oil comes with a 10-year warranty aiding in reducing costly breakdowns and wear protection

  • The same year, Total launched a range of recycled hydraulic fluids for industrial applications. These new ranges of lubricants are made from regenerating oil reducing the environmental footprint of production thus contributing to the goals of a circular economy

Regional Classification of the Global Lubricants Market is Listed Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

 Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Lubricants Market

  • Lubricants Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2019 - 2022
  • Volume Consumption at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Key Trade Statistics (Import and Export)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
     1.1. Global Lubricants Market Snapshot
     1.2. Key Market Trends
     1.3. Future Projections
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
                    2.2.1.1. Driver A
                    2.2.1.2. Driver B
                    2.2.1.3. Driver C
            2.2.2. Restraints
                    2.2.2.1. Restraint 1
                    2.2.2.2. Restraint 2
            2.2.3. Market Opportunities Matrix
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. Covid-19 Impact Analysis
            2.5.1. Pre-covid Scenario
            2.5.2. Supply
            2.5.3. Demand
     2.6. Government Regulations
     2.7. Technology Landscape
     2.8. Raw Material Impact Analysis
     2.9. Economic Analysis
     2.10. PESTLE Analysis

3. Production Output and Trade Statistics, 2019 - 2022
     3.1. Lubricants Supply-Demand Analysis
     3.2. Regional Production Statistics
            3.2.1. North America
            3.2.2. Europe
            3.2.3. Asia Pacific
            3.2.4. Latin America
            3.2.5. Middle East & Africa
     3.3. Trade Statistics

4. Price Trends Analysis and Future Projects, 2019 - 2030
     4.1. Key Highlights
     4.2. Prominent Factors Affecting Prices
     4.3. By Grade
     4.4. By End-users
     4.5. By Region

5. Global Lubricants Market Outlook, 2019 - 2030
     5.1. Global Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            5.1.1. Key Highlights
                    5.1.1.1. Mineral
                    5.1.1.2. Synthetic
                    5.1.1.3. Semi-synthetic
            5.1.2. BPS Analysis/Market Attractiveness Analysis
     5.2. Global Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            5.2.1. Key Highlights
                    5.2.1.1. Engine Oils
                    5.2.1.2. Transmission Oils
                    5.2.1.3. Gear Oils
                    5.2.1.4. Metalworking Fluids
                    5.2.1.5. Hydraulic Oils
                    5.2.1.6. Process Oils
                    5.2.1.7. Greases & Misc.
            5.2.2. BPS Analysis/Market Attractiveness Analysis
     5.3. Global Lubricants Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            5.3.1. Key Highlights
                    5.3.1.1. Automotive
                            5.3.1.1.1. Passenger Cars
                            5.3.1.1.2. Light Commercial Vehicles
                            5.3.1.1.3. Heavy Commercial Vehicles
                    5.3.1.2. Industrial
                    5.3.1.3. Marine
                    5.3.1.4. Aviation
            5.3.2. BPS Analysis/Market Attractiveness Analysis
     5.4. Global Lubricants Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            5.4.1. Key Highlights
                    5.4.1.1. North America
                    5.4.1.2. Europe
                    5.4.1.3. Asia Pacific
                    5.4.1.4. Latin America
                    5.4.1.5. Middle East & Africa
            5.4.2. BPS Analysis/Market Attractiveness Analysis

6. North America Lubricants Market Outlook, 2019 - 2030
     6.1. North America Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            6.1.1. Key Highlights
                    6.1.1.1. Mineral
                    6.1.1.2. Synthetic
                    6.1.1.3. Semi-synthetic
            6.1.2. BPS Analysis/Market Attractiveness Analysis
     6.2. North America Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            6.2.1. Key Highlights
                    6.2.1.1. Engine Oils
                    6.2.1.2. Transmission Oils
                    6.2.1.3. Gear Oils
                    6.2.1.4. Metalworking Fluids
                    6.2.1.5. Hydraulic Oils
                    6.2.1.6. Process Oils
                    6.2.1.7. Greases & Misc.
            6.2.2. BPS Analysis/Market Attractiveness Analysis
     6.3. North America Lubricants Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            6.3.1. Key Highlights
                    6.3.1.1. Automotive
                            6.3.1.1.1. Passenger Cars
                            6.3.1.1.2. Light Commercial Vehicles
                            6.3.1.1.3. Heavy Commercial Vehicles
                    6.3.1.2. Industrial
                    6.3.1.3. Marine
                    6.3.1.4. Aviation
            6.3.2. BPS Analysis/Market Attractiveness Analysis
     6.4. North America Lubricants Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            6.4.1. Key Highlights
                    6.4.1.1. U.S.
                    6.4.1.2. Canada
            6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Lubricants Market Outlook, 2019 - 2030
     7.1. Europe Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            7.1.1. Key Highlights
                    7.1.1.1. Mineral
                    7.1.1.2. Synthetic
                    7.1.1.3. Semi-synthetic
            7.1.2. BPS Analysis/Market Attractiveness Analysis
     7.2. Europe Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            7.2.1. Key Highlights
                    7.2.1.1. Engine Oils
                    7.2.1.2. Transmission Oils
                    7.2.1.3. Gear Oils
                    7.2.1.4. Metalworking Fluids
                    7.2.1.5. Hydraulic Oils
                    7.2.1.6. Process Oils
                    7.2.1.7. Greases & Misc.
            7.2.2. BPS Analysis/Market Attractiveness Analysis
     7.3. Europe Lubricants Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            7.3.1. Key Highlights
                    7.3.1.1. Automotive
                            7.3.1.1.1. Passenger Cars
                            7.3.1.1.2. Light Commercial Vehicles
                            7.3.1.1.3. Heavy Commercial Vehicles
                    7.3.1.2. Industrial
                    7.3.1.3. Marine
                    7.3.1.4. Aviation
     7.4. Europe Lubricants Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            7.4.1. Key Highlights
                    7.4.1.1. Germany
                    7.4.1.2. France
                    7.4.1.3. U.K.
                    7.4.1.4. Italy
                    7.4.1.5. Spain
                    7.4.1.6. Turkey
                    7.4.1.7. Russia
                    7.4.1.8. Rest of Europe
            7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Lubricants Market Outlook, 2019 - 2030
     8.1. Asia Pacific Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            8.1.1. Key Highlights
                    8.1.1.1. Mineral
                    8.1.1.2. Synthetic
                    8.1.1.3. Semi-synthetic
            8.1.2. BPS Analysis/Market Attractiveness Analysis
     8.2. Asia Pacific Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            8.2.1. Key Highlights
                    8.2.1.1. Engine Oils
                    8.2.1.2. Transmission Oils
                    8.2.1.3. Gear Oils
                    8.2.1.4. Metalworking Fluids
                    8.2.1.5. Hydraulic Oils
                    8.2.1.6. Process Oils
                    8.2.1.7. Greases & Misc.
            8.2.2. BPS Analysis/Market Attractiveness Analysis
     8.3. Asia Pacific Lubricants Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            8.3.1. Key Highlights
                    8.3.1.1. Automotive
                            8.3.1.1.1. Passenger Cars
                            8.3.1.1.2. Light Commercial Vehicles
                            8.3.1.1.3. Heavy Commercial Vehicles
                    8.3.1.2. Industrial
                    8.3.1.3. Marine
                    8.3.1.4. Aviation
     8.4. Asia Pacific Lubricants Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            8.4.1. Key Highlights
                    8.4.1.1. China
                    8.4.1.2. Japan
                    8.4.1.3. South Korea
                    8.4.1.4. India
                    8.4.1.5. Southeast Asia
                    8.4.1.6. Rest of Asia Pacific
            8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Lubricants Market Outlook, 2019 - 2030
     9.1. Latin America Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            9.1.1. Key Highlights
                    9.1.1.1. Mineral
                    9.1.1.2. Synthetic
                    9.1.1.3. Semi-synthetic
            9.1.2. BPS Analysis/Market Attractiveness Analysis
     9.2. Latin America Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            9.2.1. Key Highlights
                    9.2.1.1. Engine Oils
                    9.2.1.2. Transmission Oils
                    9.2.1.3. Gear Oils
                    9.2.1.4. Metalworking Fluids
                    9.2.1.5. Hydraulic Oils
                    9.2.1.6. Process Oils
                    9.2.1.7. Greases & Misc.
            9.2.2. BPS Analysis/Market Attractiveness Analysis
     9.3. Latin America Lubricants Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            9.3.1. Key Highlights
                    9.3.1.1. Automotive
                            9.3.1.1.1. Passenger Cars
                            9.3.1.1.2. Light Commercial Vehicles
                            9.3.1.1.3. Heavy Commercial Vehicles
                    9.3.1.2. Industrial
                    9.3.1.3. Marine
                    9.3.1.4. Aviation
     9.4. Latin America Lubricants Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            9.4.1. Key Highlights
                    9.4.1.1. Brazil
                    9.4.1.2. Mexico
                    9.4.1.3. Rest of Latin America
            9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Lubricants Market Outlook, 2019 - 2030
     10.1. Middle East & Africa Lubricants Market Outlook, by Grade, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            10.1.1. Key Highlights
                    10.1.1.1. Mineral
                    10.1.1.2. Synthetic
                    10.1.1.3. Semi-synthetic
            10.1.2. BPS Analysis/Market Attractiveness Analysis
     10.2. Middle East & Africa Lubricants Market Outlook, by Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            10.2.1. Key Highlights
                    10.2.1.1. Engine Oils
                    10.2.1.2. Transmission Oils
                    10.2.1.3. Gear Oils
                    10.2.1.4. Metalworking Fluids
                    10.2.1.5. Hydraulic Oils
                    10.2.1.6. Process Oils
                    10.2.1.7. Greases & Misc.
            10.2.2. BPS Analysis/Market Attractiveness Analysis
     10.3. Middle East & Africa Lubricants Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            10.3.1. Key Highlights
                    10.3.1.1. Automotive
                            10.3.1.1.1. Passenger Cars
                            10.3.1.1.2. Light Commercial Vehicles
                            10.3.1.1.3. Heavy Commercial Vehicles
                    10.3.1.2. Industrial
                    10.3.1.3. Marine
                    10.3.1.4. Aviation
            10.3.2. BPS Analysis/Market Attractiveness Analysis
     10.4. Middle East & Africa Lubricants Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
            10.4.1. Key Highlights
                    10.4.1.1. GCC
                    10.4.1.2. South Africa
                    10.4.1.3. Egypt
                    10.4.1.4. Rest of Middle East & Africa
            10.4.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape
     11.1. Company Market Share Analysis, 2021
     11.2. Competitive Dashboard
     11.3. Product vs Application Heatmap
     11.4. Company Manufacturing Footprint Analysis
     11.5. Company Profiles
            11.5.1. ExxonMobile
                    11.5.1.1. Company Overview
                    11.5.1.2. Product Portfolio
                    11.5.1.3. Financial Overview
                    11.5.1.4. Business Strategies and Development
            11.5.2. Royal Dutch Shell
            11.5.3. BP
            11.5.4. Chevron
            11.5.5. Total
            11.5.6. SINOPEC
            11.5.7. The Idemitsu Kosan Company, Ltd.
            11.5.8. FUCHS
            11.5.9. Lukoil
            11.5.10. JX Holdings
            11.5.11. Philips 66
            11.5.12. Valvoline
            11.5.13. Indian Oil
            11.5.14. Petronas
            11.5.15. Petrobras

12. Appendix
     12.1. Research Methodology     
     12.2. Report Assumptions
     12.3. Acronyms and Abbreviations

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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