APAC Lubricants Industry

Asia-Pacific Lubricants Market Analysis

The Asia-pacific Lubricants Market size is estimated at 22.06 billion liters in 2025, and is expected to reach 26.90 billion liters by 2030, at a CAGR of 4.05% during the forecast period (2025-2030).

• Largest Segment by End-user Industry - Automotive : Among all end-user segments, automotive was the largest end-user due to the high proportion of lubricant drain intervals in motor vehicles than in any industrial application.
• Fastest Segment by End-user Industry - Power Generation : Power generation is expected to be Asia-Pacific's fastest-growing end user of lubricants due to the expanding demand for low-cost energy from natural-gas-fueled power plants.
• Largest Country Market - China : China is the largest lubricant market in Asia-Pacific, with a higher number of motor vehicles, natural gas power plants, and industrial machinery than any other country.
• Fastest Growing Country Market - Vietnam : Among all Asia-Pacific countries, Vietnam is expected to be the fastest-growing country in lubricant demand due to its rising manufacturing industry and vehicle ownership.

Asia-Pacific Lubricants Market Trends

Largest Segment By End User : Automotive

• In 2020, the Asia-Pacific lubricant market was dominated by the automotive industry, which accounted for around 45% of the total lubricant consumption in the region. During 2015-2019, lubricant consumption in the automotive industry increased by around 22%.
• In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 6.24%, followed by metallurgy and metalworking (3.33%) during the year.
• Power generation is expected to be the fastest-growing end-user industry of the market studied, recording a CAGR of 5.86% during 2021-2026, followed by automotive (4.89%). The expanding power generation capacities in many countries and the expected growth in vehicle sales are likely to support lubricant consumption in the coming years.

Largest Country : China

• In 2020, China was the leading consumer of lubricants in the Asia-Pacific region, accounting for around 52% of the total lubricant consumption in the region. During 2015-2019, lubricant consumption in China increased by over 25%.
• In 2020, the COVID-19 outbreak restrained the operations of several industries, thereby restraining lubricant consumption across the Asia-Pacific region. India was the most affected country, with a 12% drop in its lubricant consumption during 2019-2020, followed by Japan with an 11.6% drop.
• Vietnam is likely to be the fastest-growing lubricant market during 2021-26, owing to its expected CAGR of 5.26%, followed by India (5.24%). The expected recovery in automotive production and sales in Vietnam is likely to drive the growth of lubricant consumption in the country.

Asia-Pacific Lubricants Industry Overview

The Asia-pacific Lubricants Market is moderately consolidated, with the top five companies occupying 47.15%. The major players in this market are BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).

Asia-Pacific Lubricants Market Leaders

Asia-Pacific Lubricants Market News

• May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.
• March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
• January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.