Automotive Engine Oil Market Trends

Automotive Engine Oil Market size was valued at USD 42.8 Billion in 2023 and is poised to grow from USD 44.51 Billion in 2024 to USD 62.82 Billion by 2032, growing at a CAGR of 4% during the forecast period (2025-2032).

Mergers and acquisitions are key strategies adopted by prominent Automotive Engine Oil Market players to gain a competitive advantage. Several small, medium and large-scale businesses are currently pursuing mergers and acquisitions with other reputable businesses in order to expand their product offerings and other related services. 'Shell plc ', 'Valvoline ', 'BP ', 'Fuchs Petrolub ', 'Petronas ', 'Chevron Corporation ', 'Ebi Gmbh ', 'Castrol India ', 'Philips 66 ', 'ExxonMobil Corporation ', 'RelaDyne ', 'Pentagon Lubricants Private Limited ', 'HINDUJA GROUP ', 'Chevron Corporation ', 'TotalEnergies'

The globalization of the automobile industry is one of the main reasons propelling the growth of the automotive engine oil market. Spark plugs are widely used in electrical, marine, and aerospace industries, which benefits the market.

Synthetic automotive engine oil is significantly replacing mineral-based engine oil. Alpha-olefins, short-chain hydrocarbon molecules, are converted into polyalpha-olefins, long-chain hydrocarbon polymers, to create synthetic engine oils. Since they share chemical similarities with mineral oils that have been refined from crude oil, developed regions like North America and Europe have a significant demand for them. Synthetic engine oil has the advantage of enhancing fuel efficiency, lowering oil consumption, and extending the time between oil changes. Additionally, synthetic motor lubricants are less volatile than mineral engine oils, more temperature-resistant, and unlikely to oxidize. As a result, it is anticipated that during the forecast period, demand for synthetic motor oil will increase over mineral-based engine oils.

The Asia Pacific region is projected to dominate the automotive engine oil market. This is due to the presence of a big consumer base as well as increased product production and consumption in nations such as China. To capitalize on the region's enormous potential, product formulators such as Total are boosting their investments in the Asia Pacific region. Automobile multinationals operating in the region have begun to invest extensively in digitizing their manufacturing plants in order to deliver speedier output.