
Report ID: SQMIG15E2157
Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to lubricants market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.
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Global Lubricants market size was valued at USD 150.04 billion in 2023 and is poised to grow from USD 155.32 billion in 2024 to USD 202.95 billion by 2032, growing at a CAGR of 3.40% in the forecast period (2025-2032).
Exxon Mobil Corporation (United States), TotalEnergies SE (France), Shell plc (United Kingdom), Chevron Corporation (United States), BP p.l.c. (United Kingdom), China National Petroleum Corp. (China), ENEOS Group (Japan), Idemitsu Kosan Co., Ltd. (Japan), Petroliam Nasional Berhad – PETRONAS (Malaysia), Fuchs Group (Germany), ENOC Company (United Arab Emirates), Petroleo Brasileiro S.A. – Petrobras (Brazil), PJSC Lukoil Oil Company (Russia), PT Pertamina Lubricants (Indonesia), Eni S.p.A. (Italy)
Rising car sales and demand for performance, engine life, and EV-specific fluids are driving growth in advanced lubricants for both traditional and electric vehicles.
Lubricant makers are investing in high-performance, biodegradable fluids like Chevron’s 2024 Clarity Bio EliteSyn AW to meet eco-standards and industry demand.
Asia Pacific leads the 2024 lubricants market, driven by rapid urbanization, vehicle growth, industrial demand, and key players like CNPC and ENEOS.
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Report ID: SQMIG15E2157
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