Latest News- Lubricants Market: Automotive oils is expected to lead the Application segment during 2025-2029

The Lubricants Market is being driven by Increasing demand for lubricants from end-user industries

The Lubricants Market is expected to grow at a CAGR of 3.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26.7 billion. The global lubricants market is witnessing a significant trend towards the adoption of bio-based lubricants. Manufacturers are increasingly producing biodegradable lubricants, which offer numerous advantages over their petroleum-based counterparts. Bio-based lubricants provide a cleaner, less toxic work environment, as they produce fewer emissions and are safer for engine and hydraulic system workers due to higher flashpoints and consistent viscosity. Additionally, these eco-friendly lubricants require less maintenance, storage, and disposal, leading to cost savings over the product lifecycle. Furthermore, companies are focusing on reducing the environmental impact of lubricants by addressing bioaccumulation and eco-toxicity concerns. The use of bio-based lubricants can significantly reduce pollution from stormwater runoff, engine leaks, and hydraulic system leaks. This shift towards sustainable lubricants is a strategic move towards meeting regulatory requirements and corporate social responsibility objectives. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Automotive oils
  • Industrial oils
  • Process oils
  • Metalworking fluids
  • Greases
• Product
  • Mineral oil-based lubricants
  • Synthetic lubricants
  • Bio-based lubricants
• Grade Type
  • Group II
  • Group III
  • Group I
  • Group IV
  • Group V
• End-user
  • Transportation
  • Manufacturing
  • Construction
  • Mining
  • Agriculture
  • Others
• Distribution Channel
  • Direct Sales
  • Distributors/Wholesalers
  • Retail
  • Online
• Base Oil
  • Mineral Oil
  • Synthetic Oil
  • Bio-Based Oil
  • Semi-Synthetic Oil
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for lubricants from end-user industries
• Increasing need for reliable machinery and its effective maintenance
• Growing global marine industry

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in crude oil prices
• Negative environmental impact of lubricants
• Increasing adoption of electric vehicles

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Market Scope in Lubricants Market Research Report

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Research Analysis Overview

The lubricants market encompasses advanced materials and technologies, including those used in power generation, such as friction reduction additives and lubricant formulations. Material science plays a crucial role in developing smart grids, sustainable manufacturing, and circular economy solutions. In vehicle production, hydraulic fluid technology and engine performance optimization are key, as well as wear resistance and bio-based lubricants. Renewable energy sources, alternative fuels, and energy efficiency solutions are also driving growth. Industrial equipment maintenance, energy storage, and industrial design require lubrication systems and green technology, such as carbon footprint reduction and heat dissipation. The future of lubrication includes advanced formulations for aerospace, high-speed engines, and hybrid vehicles, as well as analysis techniques and synthetic ester lubricants for extreme pressure applications.

Market Research Overview

The lubricants market encompasses companies primarily engaged in the production of industrial and high-performance lubricants, serving various sectors such as hydroelectric plants, renewable energy systems, and industrial activities. Consumer preferences lean towards temperature stable and eco-friendly lubricants for use in advanced vehicles, internal combustion engines, and industrial machines. Technavio projects market growth driven by the increasing adoption of high-performance engines in automotive and industrial applications, as well as the expansion of solar farms and wind energy systems. The global lubricant market size is calculated based on the combined revenue generated by manufacturers of engine oils, automotive lubricants, and industrial lubricants.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/