Lubricants Market Reveals Key Growth Drivers and Opportunities Through 2031

Synthetic lubricants are projected to grow at the highest CAGR (3.66%), owing to superior performance and better compatibility with modern vehicle components.

WILMINGTON, DE, UNITED STATES, October 3, 2025 /EINPresswire.com/ -- Growing demand from multiple end-use industries and rapid expansion of the automotive sector are fueling the growth of the global lubricants market.

Allied Market Research has published a report titled, “Lubricants Market by Base Oil (Mineral, Synthetic, Bio-Based), Product Type (Engine Oil, Transmission/Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, Process Oil, Others), and End-Use Industry (Power Generation, Automotive & Transportation, Heavy Equipment, Food & Beverage, Metallurgy & Metalworking, Others): Global Opportunity Analysis and Industry Forecast, 2021–2031.”

According to the report, the global lubricants industry was valued at $123.8 billion in 2021 and is projected to hit $168.2 billion by 2031, growing at a CAGR of 3.2% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A07693

Key Market Drivers

- Rising adoption of lubricants across industrial sectors.
- Growth in automotive production and sales.
- Expanding opportunities in emerging markets such as India and China.

Segmental Insights

By Base Oil:

- Synthetic lubricants are projected to grow at the highest CAGR (3.66%), owing to superior performance and better compatibility with modern vehicle components.

- Mineral oils dominated in 2021, accounting for nearly two-thirds of the market, with applications spanning automotive, textiles, construction, electronics, and healthcare.

By Product Type:

- Engine oil led the market in 2021, contributing more than one-fourth of global revenue, supported by its critical role in reducing friction, wear, and heat in engines.

- General industrial oils are expected to register the fastest CAGR (4.05%), driven by rising usage in power generation sectors such as coal, nuclear, solar, and wind.

By End-Use Industry:

- Automotive & transportation accounted for nearly three-fifths of demand in 2021 and will maintain dominance throughout the forecast period.

- Power generation is anticipated to grow at the highest CAGR (4.32%), propelled by rising energy needs and expansion of power plant infrastructure.

Regional Analysis:

- Asia-Pacific dominated the global lubricants market in 2021 with over two-fifths share and is expected to continue leading, posting the fastest CAGR (3.41%). Growth is attributed to rapid urbanization and industrialization in countries like China, India, and Brazil.

- Other regions analyzed include North America, Europe, and LAMEA.

Key Market Players:

- BP plc
- Chevron Corporation
- ExxonMobil Corporation
- Marathon Petroleum Corporation
- Neste OYJ
- Phillips 66 Company
- Saudi Aramco
- Shell plc
- Sinopec Corporation
- S-Oil Corporation

These companies focus on strategies such as product innovation, capacity expansion, and partnerships to strengthen their market presence and capture new growth opportunities.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/lubricants-market/purchase-options

About Us

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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