Lubricants Market Size, Industry Share & Trends by 2034

Lubricant Market Outlook from 2024 to 2034

The lubricant market is valued at US$ 174.94 billion in 2024 and is projected to reach US$ 271.68 billion by 2034, exhibiting a modest CAGR of 4.50% over the forecast period.

Attributes	Key Statistics
Lubricant Market Value (2024)	US$ 174.94 billion
Anticipated Market Value (2034)	US$ 271.68 billion
Estimated Growth (2024 to 2034)	4.50% CAGR

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Key Market Drivers

The lubricant market generated an estimated revenue of US$ 134.35 billion in 2019. In the five years, the market grew at a 5.42% CAGR and added a staggering revenue of US$ 40.59 billion. Several reasons can be attributed to this growth:

Increasing industrial activities worldwide contribute to the heightened demand for lubricants in machinery and manufacturing processes.
The growing global automotive industry fuels the need for lubricants due to increased vehicle production and maintenance requirements.
Growing awareness of the importance of preventive maintenance and lubrication enhances machinery lifespan and performance.
Ongoing innovations in lubricant technology, such as high-performance formulations, enhanced efficiency, and extended product lifecycles drive market growth.
Increased international trade and transportation activities escalate the demand for lubricants in the shipping and logistics sectors.
Robust growth in construction and infrastructure projects necessitate lubricants for heavy machinery and equipment in countries like India, China, and the United States.
The growing exploration and extraction activities in the energy sector, including oil and gas, in the United States, Russia, Saudi Arabia, Canada, Brazil, etc., are also driving market growth.
The expanding renewable energy sector, such as wind and solar power, requires lubricants for the maintenance and efficient operation of equipment, thus fueling product demand.

Consumption Analysis of the Lubricant Market

The automotive industry is increasingly adopting lubricants, especially car manufacturers, service stations, and individual vehicle owners. These consumers use lubricants for engines, transmissions, and other vehicle components.
Sales of lubricants are also rising in the manufacturing and processing industries. These entities utilize lubricants for machinery and equipment to ensure smooth operations and minimize friction.
Lubricants are also experiencing increasing demand from aircraft manufacturers and operators. These companies use specialized lubricants for engines, gears, and other critical components in aviation.
Exploration and production companies in the oil and gas industry are also opting for lubricants for drilling equipment and machinery used in extraction processes.
The growing adoption of lubricants is also observed in shipping companies and maritime operations, where they are used for engines and various marine equipment to ensure optimal performance.
The sales of lubricants for engines and various marine equipment to ensure optimal performance are also touching the skies in the agriculture sector.

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Restraining Factors Adversely Affecting the Lubricant Market

The market is anticipated to surpass a global valuation of US$ 271.68 billion by the year 2034, with a growth rate of 4.50% CAGR. While the market is expected to experience remarkable growth, several restraining factors could adversely affect its development:

The increasing adoption of electric vehicles reduces the demand for traditional lubricants in EVs. This is posing a significant challenge to the market, especially in the automotive sector.
The growing popularity of synthetic lubricants, due to their superior performance characteristics, is adversely affecting the market for traditional mineral-based lubricants.
The trend toward maintenance-free systems and components in various industries may reduce the need for regular lubrication, impacting the demand for lubricants.
War-like situations in the Middle Eastern countries and the European region have heavily impacted the global supply chain for lubricant raw materials and finished products. This has substantially slowed down the market for lubricants.

Category-wise Insights

Adoption of Synthetic Lubricants Due to their Superior Performance

Attributes	Details
Leading Base Oil Type	Synthetic
Market Share in 2024	39.43%

Depending on the base oil, the market is bifurcated into bio-based, synthetic, and mineral oil. The synthetic segment is anticipated to hold a share of 39.43% of the lubricant market.

Synthetic lubricants have seen a surge in adoption due to their expanding range of applications across various industries, such as automotive, aerospace, and industrial machinery.
Industries are also increasingly preferring synthetic lubricants for their superior performance characteristics, such as higher viscosity index, better thermal stability, and enhanced resistance to oxidation and degradation.
The automotive sector has witnessed a significant rise in the use of synthetic lubricants, due to the need for improved fuel efficiency, extended oil change intervals, and enhanced engine protection.

Automotive Oil to Become the Next Big Thing in Lubricant Industry

Attributes	Details
Top Product Type	Automotive Oil
Market Share	36.54%

The market is categorized by product type into automotive, hydraulic, gear, compressed oil, etc. The automotive oil segment dominates the market and is anticipated to hold a market share of 36.54%.

In the last few decades, there has been a noticeable shift in consumer and industry preference toward automotive oil due to its capability to provide superior engine protection and fuel efficiency.
The ability of automotive oil to perform effectively in extreme conditions, such as high temperatures and heavy loads, is another key factor driving its adoption in the lubricant industry.

Country-wise Insights

The section provides an analysis of the lubricant market by country, including Germany, China, the United States, India, and Australia. The table presents the CAGR for each country, indicating the expected growth of the market in that country through 2034.

Countries	CAGR through 2034
Australia	6.8%
India	6.8%
China	5.70%
The United States	3.70%
Germany	2.80%

Lubricant Market in Australia

Australia is one of the leading countries in this market. The Australian market is anticipated to retain its dominance by progressing at an annual growth rate of 6.80% through 2034.

Australia is blessed with a diverse topography that is best suited for the mining and exploration industry. These industries require effective lubricants for optimal performance and maintenance of machines and equipment. This substantially creates an overwhelming demand for lubricants in the country.
Besides this, ongoing infrastructure projects and construction activities in Australia also create a consistent need for lubricants to ensure the smooth operation and maintenance of heavy machinery.

Lubricant Market in India

India is the leading Asian country that dominates the market. The Indian lubricant market is anticipated to retain its dominance by progressing at an annual growth rate of 6.80% until 2034.

In the last few years, India has been rapidly going through a period of industrialization. This automatically generates excellent demand for lubricants as it is used in various industries, including steel, cement, and textiles, etc.
The Indian automotive sector is also expanding exponentially due to the increased disposable incomes of the middle-class population, creating huge demand for lubricating oils.

Lubricant Market in China

China, too, dominates the market in the international marketplace. The Chinese lubricant market is anticipated to exhibit a CAGR of 5.70% through 2034.

China’s large agricultural sector relies heavily on machinery, and the demand for lubricants in the agricultural industry is escalating as modern farming practices involve the use of advanced equipment requiring effective lubrication.
The Chinese government is also investing heavily in infrastructure projects to improve the overall connectivity and transportation systems. These projects create significant demand for lubricants to facilitate the efficient operation and maintenance of a vast range of machinery.

Lubricant Market in the United States

The United States is also one of the leading countries in the global market, which is anticipated to register a CAGR of 3.70% through 2034.

Increasing awareness of environmental sustainability and the shift towards eco-friendly lubricants in the U.S. market drive the growth of bio-based and environmentally conscious lubricants.
The United States is also blessed with a robust industrial base spanning sectors like manufacturing, aerospace, and energy. This creates a consistent demand for lubricants in machinery and equipment used across diverse industries.

Lubricant Market in Germany

Germany leads the market in the European region. Over the next ten years, German demand for lubricants is projected to rise at a 2.80% CAGR.

Germany is the global leader in the automotive sector. This ensures a steady demand for high-performance lubricants as they are essential to maintain and optimize the advanced and precision-engineered machinery and vehicles.
Germany is also one of the leading countries in the machine tools manufacturing industry. These machines require specialized lubrication to ensure optimal performance, aiding the market growth of lubricants in the country.

Competitive Landscape

The market for lubricants is filled with numerous companies such as ExxonMobil, Royal Dutch Shell, Chevron Corporation, BP, TotalEnergies, Sinopec, Fuchs Petrolub AG, etc. These companies have a strong foothold in the international marketplace as entities across various industries rely on these companies for their lubrication needs.

Key players in the market are also focusing on increasing the eco-friendliness of their products to cater to the demands of eco-conscious consumers and businesses.

Recent Developments

In January 2024, TotalEnergies Lubrifiants and Point S formed a strategic alliance. TotalEnergies supplied its renowned products, including Quartz engine oils, to Point S's extensive network of over 6,185 independent tire dealers and auto repair centers across 51 countries.
In January 2023, Hindustan Petroleum Corporation Ltd. (HPCL) and Chevron Brands International LLC finalized a long-term agreement for licensing, production, distribution, and marketing of Chevron's lubricant products in India. HPCL's Silvassa facility began manufacturing premium Caltex lubricants, strengthening the collaboration and delivering increased value to consumers.
In October 2023, BPCL unveiled a three-film campaign featuring brand ambassador Rahul Dravid for Mak Lubricants, emphasizing the importance of choosing the right lubricant. The films showcased individuals stuck with non-starting vehicles, with Dravid highlighting the need for thoughtful lubricant selection to prevent such issues.
In April 2023, Brakes India, a braking systems manufacturer and part of the $3 billion TSF group, expanded its lubricants line with the introduction of gear and transmission oil under the brand Revia, leveraging its distribution network to meet growing demand in the lubricants market.

Key Companies in the Market

ExxonMobil
Royal Dutch Shell
Chevron Corporation
BP
TotalEnergies
Sinopec
Fuchs Petrolub AG
Valvoline
Castrol (BP)
Idemitsu Kosan Co., Ltd.
PetroChina
Lukoil
Phillips 66
Indian Oil Corporation
Repsol
JXTG Nippon Oil & Energy Corporation
Pertamina
Gazprom Neft
SK Lubricants
Petrobras

Key Market Segmentation

By Base Oil:

Bio-based Oil
Mineral Oil
Synthetic Oil

By Product Type:

Automotive Oil
Hydraulic Oil
Gear Oil
Compressed Oil
Greases
Metal Working Fluid

By End-User Vertical:

Automotive
Industrial
Marine
Chemical
Oil & Gas
Aerospace
Others

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe

Frequently Asked Questions

How Big is the Lubricant Market in 2024?

The lubricant market is expected to be worth US$ 174.94 billion in 2024.

What is the Sales Forecast for Lubricants through 2034?

The market is expected to reach US$ 271.68 billion by 2034.

At What Rate is the Market Growing over the Forecast Period?

The market is growing at a CAGR of 4.50% from 2024 to 2034.

Which are the Key Manufacturing Companies for Lubricants?

Some of the key players in the market are ExxonMobil, Royal Dutch Shell, Chevron Corporation, BP, TotalEnergies, Sinopec, Fuchs Petrolub AG, etc.

What was the Value of the Market in 2023?

The valuation for the market was US$ 167.41 billion in 2023.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.5.1. Supply Side Participants and their Roles

3.5.1.1. Producers

3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

3.5.1.3. Wholesalers and Distributors

3.5.2. Value Added and Value Created at Node in the Supply Chain

3.5.3. List of Raw Material Suppliers

3.5.4. List of Existing and Potential Buyer’s

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.7.1. Profit Margin Analysis

3.7.2. Wholesalers and Distributors

3.7.3. Retailers

3.8. PESTLE and Porter’s Analysis

3.9. Regulatory Landscape

3.9.1. By Key Regions

3.9.2. By Key Countries

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034

4.1. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis, 2019 to 2023

4.2. Current and Future Market Size Value (US$ Million) & Volume (Litre) Projections, 2024 to 2034

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Base Oil

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Base Oil, 2019 to 2023

5.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Base Oil, 2024 to 2034

5.3.1. Bio-Based Oil

5.3.2. Mineral Oil

5.3.3. Synthetic Oil

5.4. Y-o-Y Growth Trend Analysis By Base Oil, 2019 to 2023

5.5. Absolute $ Opportunity Analysis By Base Oil, 2024 to 2034

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type

6.1. Introduction / Key Findings

6.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Product Type, 2019 to 2023

6.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Product Type, 2024 to 2034

6.3.1. Automotive Oil

6.3.2. Hydraulic Oil

6.3.3. Gear Oil

6.3.4. Compressed Oil

6.3.5. Greases

6.3.6. Metal Working Fluid

6.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023

6.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User Vertical

7.1. Introduction / Key Findings

7.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By End User Vertical, 2019 to 2023

7.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By End User Vertical, 2024 to 2034

7.3.1. Automotive

7.3.2. Industrial

7.3.3. Marine

7.3.4. Chemical

7.3.5. Oil & Gas

7.3.6. Aerospace

7.3.7. Others

7.4. Y-o-Y Growth Trend Analysis By End User Vertical, 2019 to 2023

7.5. Absolute $ Opportunity Analysis By End User Vertical, 2024 to 2034

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

8.1. Introduction

8.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Region, 2019 to 2023

8.3. Current Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Region, 2024 to 2034

8.3.1. North America

8.3.2. Latin America

8.3.3. Western Europe

8.3.4. Eastern Europe

8.3.5. South Asia and Pacific

8.3.6. East Asia

8.3.7. Middle East and Africa

8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

9.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

9.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

9.2.1. By Country

9.2.1.1. USA

9.2.1.2. Canada

9.2.2. By Base Oil

9.2.3. By Product Type

9.2.4. By End User Vertical

9.3. Market Attractiveness Analysis

9.3.1. By Country

9.3.2. By Base Oil

9.3.3. By Product Type

9.3.4. By End User Vertical

9.4. Key Takeaways

10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

10.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

10.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

10.2.1. By Country

10.2.1.1. Brazil

10.2.1.2. Mexico

10.2.1.3. Rest of Latin America

10.2.2. By Base Oil

10.2.3. By Product Type

10.2.4. By End User Vertical

10.3. Market Attractiveness Analysis

10.3.1. By Country

10.3.2. By Base Oil

10.3.3. By Product Type

10.3.4. By End User Vertical

10.4. Key Takeaways

11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

11.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

11.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

11.2.1. By Country

11.2.1.1. Germany

11.2.1.2. UK

11.2.1.3. France

11.2.1.4. Spain

11.2.1.5. Italy

11.2.1.6. Rest of Western Europe

11.2.2. By Base Oil

11.2.3. By Product Type

11.2.4. By End User Vertical

11.3. Market Attractiveness Analysis

11.3.1. By Country

11.3.2. By Base Oil

11.3.3. By Product Type

11.3.4. By End User Vertical

11.4. Key Takeaways

12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

12.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

12.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

12.2.1. By Country

12.2.1.1. Poland

12.2.1.2. Russia

12.2.1.3. Czech Republic

12.2.1.4. Romania

12.2.1.5. Rest of Eastern Europe

12.2.2. By Base Oil

12.2.3. By Product Type

12.2.4. By End User Vertical

12.3. Market Attractiveness Analysis

12.3.1. By Country

12.3.2. By Base Oil

12.3.3. By Product Type

12.3.4. By End User Vertical

12.4. Key Takeaways

13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

13.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

13.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

13.2.1. By Country

13.2.1.1. India

13.2.1.2. Bangladesh

13.2.1.3. Australia

13.2.1.4. New Zealand

13.2.1.5. Rest of South Asia and Pacific

13.2.2. By Base Oil

13.2.3. By Product Type

13.2.4. By End User Vertical

13.3. Market Attractiveness Analysis

13.3.1. By Country

13.3.2. By Base Oil

13.3.3. By Product Type

13.3.4. By End User Vertical

13.4. Key Takeaways

14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

14.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

14.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

14.2.1. By Country

14.2.1.1. China

14.2.1.2. Japan

14.2.1.3. South Korea

14.2.2. By Base Oil

14.2.3. By Product Type

14.2.4. By End User Vertical

14.3. Market Attractiveness Analysis

14.3.1. By Country

14.3.2. By Base Oil

14.3.3. By Product Type

14.3.4. By End User Vertical

14.4. Key Takeaways

15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

15.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023

15.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034

15.2.1. By Country

15.2.1.1. GCC Countries

15.2.1.2. South Africa

15.2.1.3. Israel

15.2.1.4. Rest of MEA

15.2.2. By Base Oil

15.2.3. By Product Type

15.2.4. By End User Vertical

15.3. Market Attractiveness Analysis

15.3.1. By Country

15.3.2. By Base Oil

15.3.3. By Product Type

15.3.4. By End User Vertical

15.4. Key Takeaways

16. Key Countries Market Analysis

16.1. USA

16.1.1. Pricing Analysis

16.1.2. Market Share Analysis, 2023

16.1.2.1. By Base Oil

16.1.2.2. By Product Type

16.1.2.3. By End User Vertical

16.2. Canada

16.2.1. Pricing Analysis

16.2.2. Market Share Analysis, 2023

16.2.2.1. By Base Oil

16.2.2.2. By Product Type

16.2.2.3. By End User Vertical

16.3. Brazil

16.3.1. Pricing Analysis

16.3.2. Market Share Analysis, 2023

16.3.2.1. By Base Oil

16.3.2.2. By Product Type

16.3.2.3. By End User Vertical

16.4. Mexico

16.4.1. Pricing Analysis

16.4.2. Market Share Analysis, 2023

16.4.2.1. By Base Oil

16.4.2.2. By Product Type

16.4.2.3. By End User Vertical

16.5. Germany

16.5.1. Pricing Analysis

16.5.2. Market Share Analysis, 2023

16.5.2.1. By Base Oil

16.5.2.2. By Product Type

16.5.2.3. By End User Vertical

16.6. UK

16.6.1. Pricing Analysis

16.6.2. Market Share Analysis, 2023

16.6.2.1. By Base Oil

16.6.2.2. By Product Type

16.6.2.3. By End User Vertical

16.7. France

16.7.1. Pricing Analysis

16.7.2. Market Share Analysis, 2023

16.7.2.1. By Base Oil

16.7.2.2. By Product Type

16.7.2.3. By End User Vertical

16.8. Spain

16.8.1. Pricing Analysis

16.8.2. Market Share Analysis, 2023

16.8.2.1. By Base Oil

16.8.2.2. By Product Type

16.8.2.3. By End User Vertical

16.9. Italy

16.9.1. Pricing Analysis

16.9.2. Market Share Analysis, 2023

16.9.2.1. By Base Oil

16.9.2.2. By Product Type

16.9.2.3. By End User Vertical

16.10. Poland

16.10.1. Pricing Analysis

16.10.2. Market Share Analysis, 2023

16.10.2.1. By Base Oil

16.10.2.2. By Product Type

16.10.2.3. By End User Vertical

16.11. Russia

16.11.1. Pricing Analysis

16.11.2. Market Share Analysis, 2023

16.11.2.1. By Base Oil

16.11.2.2. By Product Type

16.11.2.3. By End User Vertical

16.12. Czech Republic

16.12.1. Pricing Analysis

16.12.2. Market Share Analysis, 2023

16.12.2.1. By Base Oil

16.12.2.2. By Product Type

16.12.2.3. By End User Vertical

16.13. Romania

16.13.1. Pricing Analysis

16.13.2. Market Share Analysis, 2023

16.13.2.1. By Base Oil

16.13.2.2. By Product Type

16.13.2.3. By End User Vertical

16.14. India

16.14.1. Pricing Analysis

16.14.2. Market Share Analysis, 2023

16.14.2.1. By Base Oil

16.14.2.2. By Product Type

16.14.2.3. By End User Vertical

16.15. Bangladesh

16.15.1. Pricing Analysis

16.15.2. Market Share Analysis, 2023

16.15.2.1. By Base Oil

16.15.2.2. By Product Type

16.15.2.3. By End User Vertical

16.16. Australia

16.16.1. Pricing Analysis

16.16.2. Market Share Analysis, 2023

16.16.2.1. By Base Oil

16.16.2.2. By Product Type

16.16.2.3. By End User Vertical

16.17. New Zealand

16.17.1. Pricing Analysis

16.17.2. Market Share Analysis, 2023

16.17.2.1. By Base Oil

16.17.2.2. By Product Type

16.17.2.3. By End User Vertical

16.18. China

16.18.1. Pricing Analysis

16.18.2. Market Share Analysis, 2023

16.18.2.1. By Base Oil

16.18.2.2. By Product Type

16.18.2.3. By End User Vertical

16.19. Japan

16.19.1. Pricing Analysis

16.19.2. Market Share Analysis, 2023

16.19.2.1. By Base Oil

16.19.2.2. By Product Type

16.19.2.3. By End User Vertical

16.20. South Korea

16.20.1. Pricing Analysis

16.20.2. Market Share Analysis, 2023

16.20.2.1. By Base Oil

16.20.2.2. By Product Type

16.20.2.3. By End User Vertical

16.21. GCC Countries

16.21.1. Pricing Analysis

16.21.2. Market Share Analysis, 2023

16.21.2.1. By Base Oil

16.21.2.2. By Product Type

16.21.2.3. By End User Vertical

16.22. South Africa

16.22.1. Pricing Analysis

16.22.2. Market Share Analysis, 2023

16.22.2.1. By Base Oil

16.22.2.2. By Product Type

16.22.2.3. By End User Vertical

16.23. Israel

16.23.1. Pricing Analysis

16.23.2. Market Share Analysis, 2023

16.23.2.1. By Base Oil

16.23.2.2. By Product Type

16.23.2.3. By End User Vertical

17. Market Structure Analysis

17.1. Competition Dashboard

17.2. Competition Benchmarking

17.3. Market Share Analysis of Top Players

17.3.1. By Regional

17.3.2. By Base Oil

17.3.3. By Product Type

17.3.4. By End User Vertical

18. Competition Analysis

18.1. Competition Deep Dive

18.1.1. ExxonMobil Corp.

18.1.1.1. Overview

18.1.1.2. Product Portfolio

18.1.1.3. Profitability by Market Segments

18.1.1.4. Sales Footprint

18.1.1.5. Strategy Overview

18.1.1.5.1. Marketing Strategy

18.1.1.5.2. Product Strategy

18.1.1.5.3. Channel Strategy

18.1.2. Pennzoil

18.1.2.1. Overview

18.1.2.2. Product Portfolio

18.1.2.3. Profitability by Market Segments

18.1.2.4. Sales Footprint

18.1.2.5. Strategy Overview

18.1.2.5.1. Marketing Strategy

18.1.2.5.2. Product Strategy

18.1.2.5.3. Channel Strategy

18.1.3. Quaker Chemical Corp.

18.1.3.1. Overview

18.1.3.2. Product Portfolio

18.1.3.3. Profitability by Market Segments

18.1.3.4. Sales Footprint

18.1.3.5. Strategy Overview

18.1.3.5.1. Marketing Strategy

18.1.3.5.2. Product Strategy

18.1.3.5.3. Channel Strategy

18.1.4. Royal Dutch Shell Co.

18.1.4.1. Overview

18.1.4.2. Product Portfolio

18.1.4.3. Profitability by Market Segments

18.1.4.4. Sales Footprint

18.1.4.5. Strategy Overview

18.1.4.5.1. Marketing Strategy

18.1.4.5.2. Product Strategy

18.1.4.5.3. Channel Strategy

18.1.5. JX Nippon Oil & Energy Corp.

18.1.5.1. Overview

18.1.5.2. Product Portfolio

18.1.5.3. Profitability by Market Segments

18.1.5.4. Sales Footprint

18.1.5.5. Strategy Overview

18.1.5.5.1. Marketing Strategy

18.1.5.5.2. Product Strategy

18.1.5.5.3. Channel Strategy

18.1.6. British Petroleum

18.1.6.1. Overview

18.1.6.2. Product Portfolio

18.1.6.3. Profitability by Market Segments

18.1.6.4. Sales Footprint

18.1.6.5. Strategy Overview

18.1.6.5.1. Marketing Strategy

18.1.6.5.2. Product Strategy

18.1.6.5.3. Channel Strategy

18.1.7. Lukoil

18.1.7.1. Overview

18.1.7.2. Product Portfolio

18.1.7.3. Profitability by Market Segments

18.1.7.4. Sales Footprint

18.1.7.5. Strategy Overview

18.1.7.5.1. Marketing Strategy

18.1.7.5.2. Product Strategy

18.1.7.5.3. Channel Strategy

18.1.8. Total S.A

18.1.8.1. Overview

18.1.8.2. Product Portfolio

18.1.8.3. Profitability by Market Segments

18.1.8.4. Sales Footprint

18.1.8.5. Strategy Overview

18.1.8.5.1. Marketing Strategy

18.1.8.5.2. Product Strategy

18.1.8.5.3. Channel Strategy

18.1.9. Chevron Corp.

18.1.9.1. Overview

18.1.9.2. Product Portfolio

18.1.9.3. Profitability by Market Segments

18.1.9.4. Sales Footprint

18.1.9.5. Strategy Overview

18.1.9.5.1. Marketing Strategy

18.1.9.5.2. Product Strategy

18.1.9.5.3. Channel Strategy

18.1.10. Philips 66 Company

18.1.10.1. Overview

18.1.10.2. Product Portfolio

18.1.10.3. Profitability by Market Segments

18.1.10.4. Sales Footprint

18.1.10.5. Strategy Overview

18.1.10.5.1. Marketing Strategy

18.1.10.5.2. Product Strategy

18.1.10.5.3. Channel Strategy

18.1.11. Sinopec Corp.

18.1.11.1. Overview

18.1.11.2. Product Portfolio

18.1.11.3. Profitability by Market Segments

18.1.11.4. Sales Footprint

18.1.11.5. Strategy Overview

18.1.11.5.1. Marketing Strategy

18.1.11.5.2. Product Strategy

18.1.11.5.3. Channel Strategy

19. Assumptions & Acronyms Used

20. Research Methodology

Lubricant Market

Lubricant Market Forecast by Bio-based, Mineral Oil, and Others from 2024 to 2034