Market Size of Argentina Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 2.26 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Argentina Lubricants Market Analysis
The Argentina Lubricants Market size is estimated at 303.98 Million liters in 2024, and is expected to reach 339.84 Million liters by 2029, growing at a CAGR of 2.26% during the forecast period (2024-2029).
The COVID-19 epidemic had a negative impact on the Argentina lubricants market. Global lockdowns and severe government rules resulted in a catastrophic setback, as most production hubs were shut down. Nonetheless, the market recovered in 2021 and is expected to rise significantly in the coming years.
- Argentina's expanding vehicle fleet boosts, resurgence in Argentina's mining industry, and growth of Argentina's oil and gas industry are the major factors driving the demand for the market studied.
- However, inflation, which drives up costs and dampens lubricant demand in Argentina, is expected to hinder the market's growth.
- Nevertheless, used engine oil recycling offers high growth potential are expected to create new opportunities for the market studied.
- Passenger vehicles segment is expected to account for the largest end-user industry of the market studied while registering rapid growth over the forecast period.
