How big is the Vietnam Lubricants Market?

The Vietnam Lubricants Market size is expected to reach 308.23 million Liters in 2024 and grow at a CAGR of 5.30% to reach 341.78 million Liters by 2026. Read More

What is the current Vietnam Lubricants Market size?

In 2024, the Vietnam Lubricants Market size is expected to reach 308.23 million Liters. Read More

Who are the key players in Vietnam Lubricants Market?

BP Plc (Castrol), MEKONG PETROCHEMICAL JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Vietnam Lubricants Market. Read More

Which segment has the biggest share in the Vietnam Lubricants Market?

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

Which is the fastest growing segment in the Vietnam Lubricants Market?

In 2024, the Power Generation segment accounts for the fastest growing by end user in the Vietnam Lubricants Market. Read More

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

In 2023, the Vietnam Lubricants Market size was estimated at 292.77 million Liters. The report covers the Vietnam Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Lubricants Market size for years: 2024, 2025 and 2026. Read More

Vietnam Lubricants Market Trends

Statistics for the 2023 & 2024 Vietnam Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Vietnam 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 vietnam lubricants Industry

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

Largest Segment By End User : Automotive

In 2020, the Vietnamese lubricant market was dominated by the automotive industry, which accounted for around 81% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 41%.
In 2020, COVID-19-related restrictions led to decreased maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 4.9%, followed by heavy equipment (4.4%) during the year.
Power generation is expected to be the fastest-growing end-user industry of the market studied, recording a CAGR of 8.35% during 2021-2026, followed by automotive (4.48%). The increasing power generation capacity (especially renewables) in the country is anticipated to drive lubricant consumption in the coming years.