Automotive Lubricants Market to Reach USD 76.61 Billion by 2029 with a CAGR of 1.6% During the Forecast Period; High Adoption of Vehicle Lubricants to Project a Growth Course for the Market

The global automotive lubricants market size is projected to show strong growth by attaining USD 76.61 billion by 2029. Fortune Business Insights™ in its report titled “Automotive Lubricants Market Size, Share & COVID-19 Impact Analysis, By Oil Type (Synthetic, Semi-synthetic, and Conventional), By Product Type (Engine Oil, Gear Oil, Transmission Fluids, Coolant, and Brake Fluid & Greases), and Regional Forecast, (2022-2029)” observes that the market size in 2021 stood at USD 66.87 billion and reached USD 68.63 billion in 2022. The market is expected to witness a strong CAGR of 1.6% during 2022-2029. High adoption due to the popularity of lubricants that are bio-based is expected to propel market growth. Technological progressions have benefits such as extended oil drain and service intervals, better fuel efficiency, and an extended protection period. The need to protect automotive components and systems is propelling the growth of the market.

Introduction of Products by Valvoline Inc. to Set Development for Market Amplification

In April 2021, Valvoline Inc. introduced the XEV. It is the company’s first hybrid, plug-in hybrid, and pure electric car product in China. 'XEV' refers to a collection of hybrid and electric vehicle fluids, which comprises engine oil, battery protection fluid, transmission, and braking fluids. According to Valvoline, XEV products are intended to increase overall vehicle performance while reducing overall maintenance costs. Increasing the launch of products is expected to lead to market growth.

Benefits of Automotive Lubricants to Surge Demand for the Product

The benefits of automotive lubricants, such as durability and vehicle protection, are leading to a surge in the demand for such lubricants, which is projected to drive the automotive lubricants market growth. They offer protection against wear & tear of the components and systems by reducing the friction between the parts. The requirement of high performing vehicles is projected to drive market progress. They are made to support the working of engine. Improved characteristics and benefits of the product are estimated to propel market growth.

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Adoption of Synthetic Lubricants to Enhance Market Growth

One of the driving factors of the market is the adoption of synthetic lubricants, which is projected to drive the market growth. Synthetic lubricants are mineral oils that are used to meet the demand for modern automobile technologies. Due to increasing environmental problems and evolving engine technologies, synthetic lubricating solutions have been gaining traction, which is projected to drive market progress.

Competitive Landscape

Market Leaders to Adopt Diverse Product Portfolio Strategies to Drive Market Growth

Key players in the market have been opting for diverse product portfolios, which are cost-effective to intensify their market position. In October 2021, Valvoline Inc. announced the launch of XEV which is company’s first hybrid and pure electric car products in China. The company is will provide engine oil, battery protection fluid, transmission, and braking fluids. It is meant to increase vehicle performance and lower costs.

Notable Industry Development

• April 2021: Valvoline Inc. launched and introduced Valvoline High Mileage 150k with MaxLife Plus Technology Synthetic Blend. It is an engine oil that is formulated with more than 150,000 miles. The product has an innovative formula that lowers oil consumption and its Moly Additive Protection increases engine performance and power.

List of Key Players Profiled in the Report

• Shell plc (U.K.)


• Exxon Mobil Corporation (U.S.)


• BP plc (U.K.)


• Chevron Corporation (U.S.)


• TotalEnergies SE (France)


• China National Petroleum Corporation (China)


• Idemitsu Kosan (Japan)


• Sinopec Group (China)


• Fuchs Petrolub SE (Germany)


• Valvoline Inc. (U.S.)


• ENEOS Corporation (Japan)

Further Report Findings

• Asia Pacific is expected to hold majority part in the automotive lubricants market share due to the high consumption of synthetic lubricants. High consumption of automotive lubricants in South Korea and India has propelled the growth in the market. The market in the region stood at USD 27.36 billion in 2021 due to high consumption of lubricants oils.


• Europe is projected to show important progression due to growing need for quality and effective lubricating oils.


• North America is anticipated to show the same trend as Europe due to escalation in the consumption of commercial vehicles, which is estimated to drive the market growth.

Table of Segmentation