"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Lubricants Market Size, Share & COVID-19 Impact Analysis, By Type (Automotive, Industrial, Marine Oil and Process Oils), By Grade (Mineral, Synthetic and Semi-synthetic), By Application (Automotive, Industrial and Others), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101771



Play Audio Listen to Audio Version

The global lubricants market size was valued at USD 124.14 billion in 2019 and it is projected to reach USD 126.29 billion by 2027, exhibiting a CAGR of 3.92% during the forecast period.

Lubricants are fluids, oils, or greases that reduce the friction between two surfaces when they are in mutual contact with each other. These fluids play an important role in automotive and industrial applications, as they help to reduce friction between the operating parts. They are also used to prevent the machinery parts from corrosion, thermal stability, and oxidation.

The global market is segmented on the basis of type into automotive, industrial oil, marine oil, and process oils. The automotive and industrial segments hold a major share in the global market. Moreover, the industrial segment is further sub-divided into hydraulic oils, industrial gear oils, metalworking fluids, greases, and others. In terms of grade, the market is segmented into mineral, synthetic, and semi-synthetic. The mineral segment holds the largest share in the global market, owing to the ease of availability and low cost as compared to the synthetic ones. The major applications include automotive, industrial, and others. They are mostly consumed in the automotive industry due to their possession of numerous properties, such as heat resistance and high density.

Manufacturers are Inclined towards Production of Polypropylene to Give Helping Hands for COVID-19

The prolonged effect of COVID-19 is expected to showcase in 2020 and 2021. As per the new government regulations, such as less CO2 emission and the eco-friendly fluids, this industry was already facing numerous problems since 2019, and the global pandemic crisis has worsened the situation. The sale of lubricants in this situation is expected to decline by 15-30% in 2020 and its long effect is expected to reflect in 2021 also. To compensate the loss and to help in the global cirisis, major players such as 3M and ExxonMobil diverted their production to polypropylene. For instance, ExxonMobil increased its manufacturing facility for poplyproplene, which is useful for the production of masks, medical shields, gowns, and hand sanitizers. The company helped to produce 200 million masks, 20 million gowns, and 50 million bottles of hand sanitizers.


Request a Free sample to learn more about this report.

The emergence of OEM genuine lubricants oils is a key trend in the global market

The major OEMs have strong brand image and have already established themselves in the market. The companies are considering it as an advantage and are coming up with their own lubricant products. The success of major OEMs lies in the growing service network of the major players. The brands are also sold in the local retail market, and the strong brand names often helps them to sell the products. Most of the players have launched innovative products to expand their product portfolio revenues and to strengthen their position in the market.


Growing Demand from End-use Industries is Likely to Drive this Market

The governments of various nations are encouraging the OEMs for the usage. The objective behind this is to develop more environment friendly products and to create energy saving engines. The engine parts that lack lubrication are more prone to frictions and thus, they utilize more fuel, leading to emission and pollution. In order to support the government initiatives, many OEMs have entered into agreements with the lubricant manufacturers, which, in turn, is driving the market globally.

Additionally, an increase in industrialization with new innovations and technologies are expected to have a positive impact on the growth of the market. Many industries have great demand as they increase the efficiency of their equipment and machineries.


Demand for EV May Restrain Market Growth

The market is facing new challenges due to the ever-increasing demand for electric vehicles (EVs). EVs do not have engines and thus, there is no such use of lubricants. Thus, the market has been declining since 2019 and this is expected to take a heavy toll. The percentage of EV in the vehicles market is epected to rise from 15% to 25% till 2025 and thus, this can cause a reduction in the usage.


By Type Analysis

Automotive Segment to Generate Highest Revenue Backed by High Demand from Developing Nations

The automotive segment is expected to hold the largest lubricants market share owing to the escalating demand from the automotive sector. Economic growth in the developing countries is further increasing the ownership of vehicles, which will spur the demand. However, the overall lubricant segment is expected to showcase a steady in developed countries such as the U.S. and Japan.

The industrial segment holds a significant share in the global market due to rapid industrialization in the developing countries. Industrial lubricants are used in a variety of equipment to improve the performance level of the components. They are mostly used in gear, compressors, turbines, and other processing equipment. The marine oils and process oils segments hold smaller shares as compared to the automotive and industrial segments due to their less number of applications.

By Grade Analysis

Mineral Grade Segment Holds Significant Share Owing to Their Usage in Several Industries

Mineral grade is the most commonly used product as it is cost-effective, as compared to the synthetic and semi-synthetic. Moreover, they are derived from crude oil and are produced in large quantities to be used in various industries such as metal & mining, oils, and others. Mineral grade are available in light grade, as well as heavy grade, and the usage is completely dependent on the end-use requirements.

Synthetic ones are composed of base oil, thickeners, and also additives. They provide various advantages over the mineral based products. They provide extra weather protection, improve fuel economy, reduce oxidation, and provide considerable high growth in engine power. Owing to these growing advantages, the segment is expected to grow exponentially over the forecast period.

Semi-synthetis, which are also known as synthetic blend oils, contain small amounts of synthetic oil and are blended with mineral oils to boost their properties without increasing the cost. Semi-synthetic oil offers better performance at lower temperatures, which is set to fuel its demand in the automotive applications.

By Application Analysis

To know how our report can help streamline your business, Speak to Analyst

Automotive Segment to Exhibit High CAGR Stoked by Rising Possession of Vehicles

The automotive segment held the largest share in the global market. They are anticipated to showcase ascendant demand over the coming years due to the rising possession of commercial vehicles by customers. Automotive lubricants are used to reduce the friction between two components of the vehicle and they also help in controlling the temperature by absorbing the heat generated by the moving parts.

Rising industrialization is expected to increase the demand for industrial lubricants in the global market. They are designed to keep the equipment running at high speed with maximum efficiency. They are extensively used in numerous industries such as manufacturing, oil & gas, food processing, and others.

The other applications include marine, aviation, military and others. Marine lubricants are designed for high, medium, and slow speed marine engines. These are also used in the aviation industry in a wide range of applications such as gears, bearings, piston rings, and others.


Asia Pacific Lubricants Market Size, 2019 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

Asia Pacific is anticipated to remain a key region in the market during the forecast period owing to the rising demand from the industrial and automotive applications. The market in this region is mainly driven by factors such as rising population and increasing expenditure in several industrial sectors. The rising population is creating a high demand for vehicles or passenger cars, which, in turn, will create a subsequent demand.

Asia Pacific is the largest consumer, with China holding the largest share. Asia Pacific is expected to exhibit the highest growth in the market across the globe. China, Japan, and India are the key countries contributing to the market growth in the region owing to the increasing demand from the automotive sector.

On the other hand, Europe is projected to showcase significant growth in the market. The increasing development for high-end machineries and equipment for industrial applications is expected to drive the market in this region. Also, an increasing demand for equipment flexibility and the necessity to surge the efficiency of vehicles are expected to drive the key market.

The demand for lubricants in Latin America was negatively affected by the economic downturn, but it still has above average demand mainly due its requirement from the automotive industry. Iran accounted for the largest market share in the Middle East, with Egypt accounting to be the largest market in Africa, owing to the higher consumption in transportation industry in this region.


Market Players to Strengthen Their Positions by Offering Various Lubricant Solutions

The major producers are located in Europe, but the demand is high from Asia Pacific. It is leading to the creation of a consolidated market. The producers in North America and Europe are continuously engaged in mergers & acquisitions in order to strengthen their market position and to drive the business growth. As a result, the key players in the market have developed strong regional presence, distribution channels, and product offerings.



  • November 2019: The FUCHS Group, a manufacturer and supplier in Germany signed an agreement to acquire Nye Lubricants Inc., a company engaged into innovation, formulation, and manufacturing of synthetic products. It is located in Fairhaven, the U.S. This acquisition will further expand the company’s synthetic portfolio and create an opportunity to serve multiple markets.

  • February 2019: AMALIE Oil Co., a producer and supplier of lubes, based in the U.S. acquired Lubricating Specialties Co. (LSC). It is the largest independent manufacturer in the West U.S., with three production facilities. This acquisition is expected to increase the sales and services support to the customers, domestically, as well as globally.


A growing trend is observed in the penetration of the market across the industries. 

The lubricants market research report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments that exist in the market. The market is segmented by type, grade, application, and geography.

An Infographic Representation of Lubricants Market

To get information on various segments, share your queries with us

Lubricants market by Based on type, the market is classified into automotive, industrial, marine oil, process oil. By grade, the market is segmented into mineral, synthetic and semi-synthetic. By application, the market is divided into automotive, industrial and others. Geographically, the market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.

Along with this, the report provides an elaborative analysis of this market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key lubricants industry trends, competitive landscape and company profiles.

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD Billion/USD Million) and Volume (Million Ton/Kilo Ton)


By Type

  • Automotive lubricants

  • Industrial lubricants

    • Hydraulic oils

    • Industrial gear oils

    • Metalworking fluids

    • Greases

    • Other industrial oils

  • Marine oils

  • Process oils

By Grade

  • Mineral

  • Synthetic

  • Semi-synthetic

By Application

  • Automotive

  • Industrial

  • Others

By Geography

  • North America (U.S., and Canada)

  • Europe (Germany, France, U.K., Italy, Spain, Turkey, Russia and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (GCC, Iran, South Africa and Rest of Middle East & Africa)


Frequently Asked Questions

Fortune Business Insights says that the lubricants market was valued at USD 124.14 billion in 2019 and is projected to reach USD 126.29 billion by 2027.

The market will exhibit a steady growth at a CAGR of 3.92% in the forecast period (2020-2027).

The automotive segment is expected to be the leading segment in the market.

The increasing demand for smooth and effective functioning of machines is driving the market growth.

Asia Pacific is expected to hold the highest share in the market.

Automotive is expected to drive the adoption.

The rising demand for smooth working engine parts is the market trend.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Lubricants Market Size, Share and Global Industry Trend Forecast till 2026
  • Aug, 2020
  • 2019
  • 2016-2018
  • 135


  • 4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

LG Chem

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.