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South Korea Automotive Lubricants Market Size

Statistics for the 2023 & 2024 South Korea Automotive Lubricants market size, created by Mordor Intelligence™ Industry Reports. South Korea Automotive Lubricants size report includes a market forecast to 202 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of South Korea Automotive Lubricants Industry

South Korea Automotive Lubricants Market Summary
Study Period 2015 - 2026
Base Year For Estimation 2020
Forecast Data Period 2024 - 2026
Historical Data Period 2015 - 2019
CAGR (2024 - 2026) 2.95 %
Market Concentration High

South Korea Automotive Lubricants Market Analysis

The South Korea Automotive Lubricants Market size is estimated at 291.66 Million Liters in 2024, and is expected to reach 309.11 Million Liters by 2026, growing at a CAGR of 2.95% during the forecast period (2024-2026).

  • Largest Segment by Vehicle Type - Passenger Vehicles : The passenger vehicles market is the largest market for automotive lubricants in South Korea due to the large active passenger vehicle parc, sales volumes, and usage activity.
  • Fastest Segment by Vehicle Type - Motorcycles : The recovery of motorcycle production and sales in the country from 2021 is expected to be at a fast rate. Hence, the lubricant consumption growth rate is likely to be high.
  • Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales and production in South Korea from 2021 is likely to drive the demand for hydraulic fluids in the country during the forecast period.

South Korea Automotive Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026