Automotive Lubricants Market Size To Reach USD 97.59 Billion In 2030 | Rising Demand For Synthetic And Bio-Based Lubricants, Coupled With Advancements In Automotive Lubricant Technology, Is Driving Market Revenue Growth, Says Reports and Data

NEW YORK, March 28, 2022 /PRNewswire/ -- The global automotive lubricants market size is expected to reach USD 97.59 Billion in 2030 and register a revenue CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Increase in global population, rise in per capita income, and increased consumption of synthetic lubricants due to properties such as low emission is driving automotive lubricants market revenue growth.

Automotive lubricants are crucial for ensuring improved and increased performance of consumer and industrial vehicles in harsh environmental conditions. Tractor engine oils, for example, safeguards and ensure the tractor's excellent performance in adverse field circumstances while also enabling greater hardware compatibility with unshakable toughness and quality. They help to assist in the appropriate operation of a vehicle engine and system at temperatures ranging from -40°C to more than 250°C. Furthermore, these lubricants also withstand high engine pressures ranging from 105 to 109 Pascal, as well as fuel impurities including soot and metal particles.

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Synthetic lubricants are becoming popular among key industry players. Synthetic lubricants are essentially mineral oils that have been extensively processed to improve their performance characteristics and meet the demands of automotive technologies. As environmental concerns and engine technologies increase, synthetic lubricants are becoming more popular. Oil Drain Intervals (ODIs) are longer in synthetic lubricants, which the consumer prefers for hassle-free services. Other benefits of synthetic lubricants include improved fuel efficiency, better hardware compatibility and lower vehicle emissions.

Some Key Highlights From the Report

• In January 2022. Chevron Corporation, which is based in San Ramon, California, U.S. announced launch of their Keep Clean Preferred Vendor Program, which will provide their clients with the tools and services necessary to get most of their lubricants. Additionally, vendors participating in this program will help organizations with their maintenance and lubrication needs, covering everything from storage and handling to fluid analysis, allowing organizations to improve performance while reducing costly downtime.
• Bio-Based Lubricants segment revenue is expected to register high growth rate during the forecast period. Bio-based lubricant is a renewable and sustainable lubricant that is biodegradable, non-toxic and most importantly, does not emit greenhouse gases into the atmosphere. Furthermore, bio-based lubricants provide superior lubricity without the use of chemical additives like chlorine and sulfur. The additional lubricity reduces friction. With less friction, cutting forces are reduced and less heat is produced during the metal cutting process, allowing tools to be fed more quickly. Less friction reduces wear on cutting tools and grinding wheels, typically extending tool life.

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• Coolant's primary function is to transfer heat and prevent engine damage caused by freezing or boiling. Heat can only be effectively transferred when there is a liquid in the system, so keeping the coolant from freezing or evaporating is critical. Additionally, when coolant boils, vapors formed do not transfer heat well. Therefore, the engine metal can actually melt if coolant is not kept in contact with places that must remain cool. Furthermore, coolant also protects metals and non-metallic elastomers in the engine, such as rubber and plastic parts.
• Market in Europe is expected to grow at a steady rate during the forecast period due to increasing demand for high-quality and efficient lubricants from end-users. However, increasing demand for electric vehicles and implementation of stringent environmental regulations in the automotive industry has stifled market growth in this region.
• Companies profiled in the global market report includes Castrol Limited, Gulf Oil International, Panama Petrochem Ltd., GP Petroleums Ltd., Shell International B.V., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Valvoline Inc. and Petróleo Brasileiro S.A.

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For the purpose of this report, Reports and Data has segmented the automotive lubricants market based on base oil, vehicle type, application and region:

• Base Oil Outlook (Revenue, USD Billion; 2018–2030)
• Mineral Oil
• Synthetic
• Semi-Synthetic
• Bio-Based Lubricants
• Vehicle Type Outlook (Revenue, USD Billion; 2018–2030)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others
• Application Outlook (Revenue, USD Billion; 2018–2030)
• Engine Oil
• Gear Oil
• Brake Fluids
• Transmission Fluids
• Coolants
• Greases

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• Regional Outlook (Revenue, USD Billion; 2018–2030)
• North America
  a. U.S.
  b. Canada
  c. Mexico
• Europe
  a. Germany
  b. U.K.
  c. France
  d. Italy
  e. Spain
  f. Sweden
  g. BENELUX
  h. Rest of Europe
• Asia Pacific
  a. China
  b. India
  c. Japan
  d. South Korea
  e. Rest of APAC
• Latin America
  a. Brazil
  b. Rest of LATAM
• Middle East & Africa
  a. Saudi Arabia
  b. UAE
  c. South Africa
  d. Israel
  e. Rest of MEA

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