Delray Beach, FL, Aug. 14, 2025 (GLOBE NEWSWIRE) — The Lubricants Market was valued at USD 178.14 billion in 2025 and is projected to reach USD 204.10 billion by 2030, growing at 2.8% CAGR from 2025 to 2030. The demand for lubricants in end-use industries such as transportation and industrial is increasing due to government regulations and fuel economy norms, mounting demand from marine applications, and extension of refinery volumes for group II and III base oil.
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Browse in-depth TOC on “Lubricants Market”
530 – Market Data Tables
62 – Figures
389 – Pages
List of Key Players in Lubricants Market:
- Shell plc (UK)
- Exxon Mobil Corporation (US)
- BP p.l.c. (UK)
- Chevron Corporation (US)
- PetroChina Company Limited (China)
- TotalEnergies SE (France)
- ENEOS Holdings, Inc. (Japan)
- China Petroleum & Chemical Corporation (China)
- Idemitsu Kosan Co., Ltd. (Japan)
Drivers, Opportunities and Challenges in Lubricants Market:
- Drivers: Increased supply of Group II and Group III base oils
- Restraint: Rising demand for electric vehicles (EVs)
- Opportunity: Growth in demand for bio-based lubricants
- Challenge: Volatile raw material prices
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Key Findings of the Study:
- Metalworking fluid product type is projected to register the highest CAGR, in terms of value, of the global lubricants market during the forecast period.
- Synthetic lubricants are estimated to be the second-largest base oil type of lubricants market, in terms of value, during the forecast period.
- Europe is estimated to be the second-largest market for the lubricants market, in terms of value, during the forecast period.
Based on base oil type, the lubricants market is segmented into mineral oil, synthetic oil, and bio-based oil. Of these, mineral oil lubricants accounted for the largest market share in terms of value in 2024. These mineral oils are compatible with most of the materials and seals used in various machinery and equipment. Another factor that influences market share is that they are usually cheaper due to the low cost of production. They are also readily available in all regions. Therefore, mineral oils accounted for the highest share in the lubricants market.
Based on end-use industry, the lubricants market is further sub-segmented into transportation and industrial.
This sub-segment for the industrial end-use industry is projected to register the highest CAGR during the forecast period. There will be an increase in industrial activities in construction, mining, agriculture, food industry, and other activities throughout the world because of an increasing population. Thus, the industrial end-use industry sub-segment is projected to register the highest CAGR. Apart from this, increasing demand for energy-efficient and high-performance lubricants in heavy machinery is also propelling the market. Government initiatives regarding manufacturing and infrastructure development in emerging economies would also increase the consumption of industrial lubricants.
Based on region, Asia Pacific was the largest lubricants market, by value, in 2024 due to its strong economic development, growth in population, accelerating industrialization, growing disposable income, and liberal government policies. Furthermore, heavily populated nations like China and India witness elevated demand across automotive, manufacturing, building, and farm industries. The demand for lubricants henceforth remains elevated within Asia Pacific. Similarly, Asia Pacific is also expected to be the fastest-growing market, based on value, over the forecast period.
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BP p.l.c. is a major oil, gas, and renewable energy company worldwide. The famous Castrol is part of BP p.l.c.’s lubricants market. It is one of the top brands in the world, offering a full range of lubricants- from engine oils to transmission fluids and industrial lubricants. The trademark boasts state-of-the-art technology and a performance/sustainability commitment supported by partnerships with leading automotive manufacturers and motorsport teams to advance innovation. BP p.l.c. pursues investments in lower-carbon lubricants and digital service platforms to position the company to help meet international energy transition goals and change consumer behaviors. Its strategic focus will be on improving product performance, lowering carbon intensity, and making inroads into emerging markets.
Chevron Corporation is one of the leading names in the American multinational energy space and a key player in the global lubricants market through its brands Chevron, Texaco, and Caltex. Engine oils, transmission fluids, industrial lubricants, and a comprehensive line of lubricants are offered under these brands in the automotive, industrial, and marine sectors. Chevron Corporation started the lubricants value chain, which includes manufacturing high-quality base oils, enhancing additives, and blending and packaging finished lubricants. The company has over 20 blending plants worldwide, with regional technology centers located in Ghent, Belgium, for the development and technical support of coolant products.
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