Market Size of South Korea Automotive Lubricants Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
