- Enhanced thermal stability, reduced friction, longer drain intervals, and performance in extreme conditions have driven a shift toward synthetic oils, particularly in automotive and industrial sectors.
- Industrial automation, IoT, and predictive maintenance increase lubricant use in heavy machinery. Condition-monitoring and smart lubricant systems are gaining traction.
- Lubricants are essential in wind, solar, and hydro plants to reduce friction and downtime—supporting the green energy transition.
- Engine Oils segment dominates the Lubricants Market with a market share of 31.83% in 2024, driven by Enhanced formulations with better thermal stability, oxidation resistance, and longer oil-change intervals are increasingly replacing conventional mineral oils in both automotive and industrial settings.
