Pakistan Lubricants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 2.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pakistan Lubricants Market Analysis
The Pakistan Lubricants Market size is estimated at 192.78 Million liters in 2024, and is expected to reach 214.09 Million liters by 2029, growing at a CAGR of 2.12% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the sector is recovering well since restrictions were lifted. An increase in automotive sales, power generation, and demand for food and beverages have led the market recovery over the last two years.
The primary factor driving the market's growth is the augmenting automotive production in Pakistan. With the increasing Chinese investment in the past few years, the market studied is expected to see an increase in demand over the forecasted period.
On the flip side, the sluggish growth in the textile industry is anticipated to restrain the development of the target industry over the forecast period.
Potential growth in the renewable energy sector will likely act as an opportunity for the market studied.
Pakistan Lubricants Market Trends
Engine Oil to Dominate the Market
- In the automobile sector, lubricants with many qualities are used in multiple application areas for many purposes, including decreasing friction, preventing corrosion and rust development, and maintaining the component's cleanliness.
- The most common form of lubricant used in the automotive sector is engine oils. Engine oils keep the engine clean and stop particle buildup and rust development. Additionally, engine oils increase performance and fuel economy, lengthen engine life, and lower vehicle emissions. Engine oils are widely used to lubricate internal combustion engines and generally comprise 75-90% base oils and 10-25% additives.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the number of passenger cars sold in Pakistan in 2022 reached 188,318 units.
- According to the International Council on Clean Transportation, Pakistan's government established an ambitious National Electric Vehicles Policy (NEVP), with objectives and incentives aimed at capturing 30% of all passenger car and heavy-duty truck sales by 2030 and 90% by 2040. It sets even higher targets for two- and three-wheelers and buses, with 50% new sales by 2030 and 90% by 2040.
- DICE Foundation, a group of Pakistanis in the United States, Canada, and the United Kingdom, is preparing to launch the country's first electric automobile.
- According to the Pakistan Automotive Manufacturers Association (PAMA), the production of public transport, such as buses, increased from 661 units in 2021 to 701 units in 2022.
- With all the above factors, the demand for engine oils is expected to increase at a moderate pace in the forecasted period in Pakistan.
Automotive and Transportation to Dominate the Market
- In the automobile sector, lubricants with a wide range of qualities are used in multiple application areas for many purposes, including decreasing friction, preventing corrosion and rust development, and maintaining the cleanliness of the components, among others.
- The most common form of lubricant used in the automotive sector is engine oils. Engine oils are used to keep the engine clean and stop particle buildup and rust development. Additionally, engine oils increase performance and fuel economy, lengthen engine life, and lower vehicle emissions.
- According to the statistics of the Pakistan Automotive Manufacturers Association (PAMA), in October 2023, a total of 250.0 units were recorded as trucks and buses.
- According to the Arab News, automobile sales were 60 percent lower in 2023 than the previous year. In the next two years, Pakistan's economic indicators are likely to improve, which will likely increase annual vehicle sales to 350,000 units, the country's top official said.
- Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), the sales of new vehicles in Pakistan were 227,392 units in 2022, which increased by 21.1 % from 2019 to 2022.
- As the automotive industry continues to grow and modernize, the need for high-quality lubricants for vehicles and machinery increases in Pakistan.
- Factors such as expanding road networks, rising vehicle ownership, and industrial developments contribute to the dominance of automotive industries in the Pakistan Lubricants Market.
Pakistan Lubricants Industry Overview
Pakistan's lubricants market is partially consolidated, with various global and domestic players in the country. Some of the major players in the market (not in any particular order) include Shell, Chevron Corporation, Exxon Mobil Corporation, Pakistan State Oil, and Hi-Tech Lubricants Limited, among other companies.
Pakistan Lubricants Market Leaders
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Chevron Corporation
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Pakistan State Oil
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Exxon Mobil Corporation
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Shell
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Hi-Tech Lubricants Limited
*Disclaimer: Major Players sorted in no particular order
Pakistan Lubricants Market News
- July 2022: Shell Pakistan appointed Burque Corporation, which has planned to expand the distribution of its lubricants in Quetta. With the collaboration, Shell Pakistan covered 6,000 outlets in villages and 40,000 additional outlets across Pakistan.
- March 2022: Chevron Pakistan Lubricants (Private) Limited collaborated with MG JW Automobile Pakistan (Private) Limited to supply its synthetic lubricants. Through this collaboration, the company will be providing its Delo and Havoline branded products for commercial, industrial, marine, and passenger vehicle applications.
Pakistan Lubricants Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Positive Outlook for the Automotive Industry
- 4.1.2 Increasing Chinese Investments in the Country
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4.2 Restraints
- 4.2.1 Sluggish Growth in Textile Industry
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Product Type
- 5.1.1 Engine Oil
- 5.1.2 Transmission and Hydraulic Fluid
- 5.1.3 General Industrial Oil
- 5.1.4 Gear Oils
- 5.1.5 Grease
- 5.1.6 Other Product Types (Process Oil and Turbine Oil)
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5.2 End-user Industry
- 5.2.1 Power Generation
- 5.2.2 Automotive and Transportation
- 5.2.3 Heavy Equipment
- 5.2.4 Food and Beverage
- 5.2.5 Other End-user Industries (Construction and Food and Beverage Industry)
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)** /Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Chevron Corporation
- 6.4.2 Cnergyico
- 6.4.3 Exxon Mobil Corporation
- 6.4.4 Hascol Petroleum Ltd.
- 6.4.5 Hi-Tech Lubricants Limited
- 6.4.6 Karachi Lubricants (pvt) Ltd.
- 6.4.7 Pak HY-Oils
- 6.4.8 Pakistan Lubricants (Pvt.) Ltd.
- 6.4.9 Pakistan State Oil
- 6.4.10 Petroliam Nasional Berhad (PETRONAS)
- 6.4.11 Shell
- 6.4.12 TotalEnergies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Promising Renewable Energy Sector
Pakistan Lubricants Industry Segmentation
A lubricant is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also transmit forces, transport foreign particles, or heat or cool the surfaces.
Pakistan's Lubricants market is segmented by product type and end-user industry. By product type, the market is segmented into engine oil, transmission and hydraulic fluid, general industrial oil, gear oils, grease, and other product types (process oil and turbine oil). By end-user industry, the market is segmented into power generation, automotive and transportation, heavy equipment, food and beverage, and other end-user industries (construction and food and beverage industry).
For each segment, the market sizing and forecasts have been done based on volume (liters).
| Product Type | Engine Oil |
| Transmission and Hydraulic Fluid | |
| General Industrial Oil | |
| Gear Oils | |
| Grease | |
| Other Product Types (Process Oil and Turbine Oil) | |
| End-user Industry | Power Generation |
| Automotive and Transportation | |
| Heavy Equipment | |
| Food and Beverage | |
| Other End-user Industries (Construction and Food and Beverage Industry) |
Pakistan Lubricants Market Research FAQs
How big is the Pakistan Lubricants Market?
The Pakistan Lubricants Market size is expected to reach 192.78 million liters in 2024 and grow at a CAGR of 2.12% to reach 214.09 million liters by 2029.
What is the current Pakistan Lubricants Market size?
In 2024, the Pakistan Lubricants Market size is expected to reach 192.78 million liters.
Who are the key players in Pakistan Lubricants Market?
Chevron Corporation, Pakistan State Oil, Exxon Mobil Corporation, Shell and Hi-Tech Lubricants Limited are the major companies operating in the Pakistan Lubricants Market.
What years does this Pakistan Lubricants Market cover, and what was the market size in 2023?
In 2023, the Pakistan Lubricants Market size was estimated at 188.69 million liters. The report covers the Pakistan Lubricants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pakistan Lubricants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pakistan Lubricants Industry Report
Statistics for the 2024 Pakistan Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pakistan Lubricants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
