Global Automotive Lubricant Market, By Base Oil (Mineral Oil, Synthetic, Semi-Synthetic and Bio-Based Lubricant), Application (Engine Oil, Gear and Brake Oil, Coolants, Grease and Transmission Fluids), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), Sales Channel (Aftermarket, Original Equipment Manufacturers (OEMs)) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been immense growth in the production of vehicles. The global car production climbed from 58.3 million in 2010 to 72.1 million in 2016, according to the International Organization of Motor Vehicle Manufacturers (OICA). Furthermore, technologically advanced countries such as China and Japan accounted for 34 percent and 11 percent of global car production, respectively. The usage of automotive lubricants is projected to rise during the forecast period as a result of these factors.
Global Automotive Lubricant Market was valued at USD 76.31 billion in 2021 and is expected to reach USD 116.23 billion by 2029, registering a CAGR of 5.40% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Lubricant is a fluidic material that is used to prevent wear and tear by reducing friction between contact surfaces. Depending on the end-uses, it is made using appropriate additives and base oils from specific groups. Automotive lubricants are used to reduce friction between two surfaces of car components, and they represent futuristic technologies capable of producing durable surfaces, maximizing overall efficiency while adhering to environmental regulations. These lubricants also aid in temperature regulation by collecting heat generated by the vehicle's moving parts and transferring it to the sump or cooler. Engine, gear, and hydraulic oils are the most common applications.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019 - 2014)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
By Base Oil (Mineral Oil, Synthetic, Semi-Synthetic and Bio-Based Lubricant), Application (Engine Oil, Gear and Brake Oil, Coolants, Grease and Transmission Fluids), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), Sales Channel (Aftermarket, Original Equipment Manufacturers (OEMs))
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
Dupont (U.S.), SOLVAY (Belgium), DAIKIN (Japan), Dow (U.S.), Halocarbon, LLC (U.S.) Freudenberg SE (Germany), The Chemours Company (U.S.), Metalubgroup (Israel), M&I Materials Limited (U.K), Nye Lubricants, Inc. (U.S.), Lubrilog (France) ECCO Gleittechnik GmbH (Germany), HUSK-ITT Corporation (U.S.), Setral Chemie GmbH (Germany) and IKV Tribology Ltd (Germany)
|
|
Market Opportunities
|
|
Automotive Lubricant Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand Across Automotive Industry
The increasing demand for engine oils, brake fluids, and transmission fluids is estimated to carve a way for the growth of the market. The global market is driven by rising demand for automotive lubricants in passenger automobiles, which is driving the global market.
- Advancements in Lubricants
Nano-lubricants are an advanced development in the automobile lubricant sector, formed by combining nanoparticles with lubricants. Carbon-based nanoparticles added to automobile lubricants increase anti-wear qualities while also lowering frictional resistance in the engine. The nano-lubricants lower frictional resistance while also increasing the engine's load-carrying capability. Nano lubricants also have a tendency to "settle out" from liquid lubricants, necessitating substantial study to ensure their steady and effective manufacture. Therefore, the nano-lubricants are projected to bolster market growth.
Furthermore, the surging disposable income of the people coupled with the increasing automotive industry, will further propel the growth rate of automotive lubricant market. Additionally, the growing production of vehicles will also drive market value growth. The expansion of the automotive industry also boosts market growth. The high-performance automotive lubricants constitute excellent solvency and better hydrophilic properties, which is projected to bolster the growth of the market.
Opportunities
- Awareness and Performance Criteria
The growing awareness among consumers across the globe to use quality lubricants for vehicles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, to combat growing emissions, government agencies are adopting minimum performance criteria for lubricants. As a result, the use of low viscosity lubricants like synthetic/semi-synthetic oil is on the rise, which will further expand the future growth of the automotive lubricant market.
Restraints/Challenges
- Shift Towards Electronic Vehicles
The majority of manufacturers are moving toward electronic vehicles, which is limiting the demand for automotive lubricants. According to a survey published by the International Energy Agency in 2018, China's electric car market grew from 39 percent to 45 percent in a year. This factor will hamper the market growth.
- Negative Impact of COVID-19
With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply. Also, the fluctuations in the prices of raw materials as well as travel restriction are projected to be a demerit for the automotive lubricant market. Therefore, this will challenge the automotive lubricant market growth rate.
This automotive lubricant market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive lubricant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Automotive Lubricant Market
The rapid spread of coronavirus had a negative impact on the automotive lubricant market, as the automotive lubricant market largely relies on automotive market. The automotive market was largely hampered owing to the lockdown restrictions, due to which various operations were halted and the travel and transit have been prohibited. Moreover, the supply chains have been interrupted and other traveling operations were largely suspended all of which have impacted the global automotive lubricant market's growth. The severe disruptions in various manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the market. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak, which will weigh on the market's revenue trajectory.
On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. Moreover, businesses are recovering from losses and market contributors are largely focusing on creative solutions to stay afloat in the market by various strategies.
Recent Development
- In March 2020, Royal Dutch Shell PLC said that its lubricant blending plant in Bekasi, Indonesia, will increase its production capacity to 300 million litres per year by 2022, helping to fulfil the growing demand of the domestic lubricant industry in the future years.
Global Automotive Lubricant Market Scope
The automotive lubricant market is segmented on the basis of base oil, application, vehicle type and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Base Oil
- Mineral Oil
- Synthetic
- Semi-Synthetic
- Bio-Based Lubricant
Application
- Engine Oil
- Gear and Brake Oil
- Coolants
- Grease and Transmission Fluids
Vehicle Type
- Passenger Cars
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Sales Channel
- Aftermarket
- Original Equipment Manufacturers (OEMs)
Automotive Lubricant Market Regional Analysis/Insights
The automotive lubricant market is analyzed and market size insights and trends are provided by country, base oil, application, vehicle type and sales channel as referenced above.
The countries covered in the automotive lubricant market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive lubricant market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the surge in growth of the overall economy coupled with the rise in investments by key manufacturers. Sales of commercial vehicles like as trucks, tractors, and trailers are increasing as a result of increased urbanization in emerging countries like China and India is also projected to support marker growth.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing spending on research and development and the increase in the vehicle production numbers across the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Lubricant Market Share Analysis
The automotive lubricant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive lubricant market.
Some of the major players operating in the automotive lubricant market are
- Dupont (U.S.)
- SOLVAY (Belgium)
- DAIKIN (Japan)
- Dow (U.S.)
- Halocarbon, LLC (U.S.)
- Freudenberg SE (Germany)
- The Chemours Company (U.S.)
- Metalubgroup (Israel)
- M&I Materials Limited (U.K)
- Nye Lubricants, Inc. (U.S.)
- Lubrilog (France)
- ECCO Gleittechnik GmbH (Germany)
- HUSK-ITT Corporation (U.S.)
- Setral Chemie GmbH (Germany)
- IKV Tribology Ltd (Germany)
SKU-