How big is the Asia-pacific Lubricants Market?

The Asia-pacific Lubricants Market size is expected to reach 21.20 billion Liters in 2024 and grow at a CAGR of 4.05% to reach 22.95 billion Liters by 2026. Read More

What is the current Asia-pacific Lubricants Market size?

In 2024, the Asia-pacific Lubricants Market size is expected to reach 21.20 billion Liters. Read More

Who are the key players in Asia-pacific Lubricants Market?

BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Lubricants Market. Read More

Which segment has the biggest share in the Asia-pacific Lubricants Market?

In the Asia-pacific Lubricants Market, the Automotive segment accounts for the largest share by end user. Read More

Which country has the biggest share in the Asia-pacific Lubricants Market?

In 2024, China accounts for the largest share by country in the Asia-pacific Lubricants Market. Read More

What years does this Asia-pacific Lubricants Market cover, and what was the market size in 2023?

In 2023, the Asia-pacific Lubricants Market size was estimated at 20.31 billion Liters. The report covers the Asia-pacific Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Lubricants Market size for years: 2024, 2025 and 2026. Read More

Asia-pacific Lubricants Market Trends

Statistics for the 2023 & 2024 Asia-pacific Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Asia-pacific Lubricants trend report includes a market forecast to 2026 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of asia-pacific lubricants Industry

This section covers the major market trends shaping the APAC Lubricants Market according to our research experts:

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.

Asia-pacific Lubricants Market : Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Automotive</span>

Understand The Key Trends Shaping This Market

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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.