Lubricants Market Updates

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.

Lubricants Market News

in Lubricants Market
  • In December 2024, ENOC Group launched redesigned packaging for its lubricants. This packaging has improved anti-counterfeit features and local market adaptability. Apart from this, ENOC also introduced new product lines such as Cytec for motorcycles and Elektra for EVs. With this, ENOC aims to boost global expansion and environmental stewardship.
  • In June 2024, TotalEnergies Lubrifiants launched its first eco-friendly lubricant range named Quartz EV3R for passenger cars and Rubia EV3R for trucks. This range is made from regenerated base oils and is approved by multiple OEMs. The packaging of this product range also features bottles made from 50% recycled plastic. Thus, this entire range is reflective of TotalEnergies’ commitment to maintain sustainability without sacrificing high performance.
  • Castrol introduced a reformulated TLX lubricant range for medium-speed four-stroke marine engines in April 2024. This replaced TLX Xtra and TLX Plus lubricants from the company. The range claimed to offer engine protection, corrosion resistance, and sludge control under extreme conditions. The TLX range meets MARPOL regulations and will roll out globally with full technical support and condition-based monitoring services.

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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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Global Lubricants Market
Lubricants Market

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