Automotive Grease Market Size was valued at USD 72.9 Billion in 2023. The Global Automotive Grease Market industry is projected to grow from USD 76.1 Billion in 2024 to USD 103.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). Growing emphasis on emission regulations and fuel economy, as well as growing demand for electric vehicles (EVs) are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing demand for synthetic lubricants is driving the automotive grease market CAGR. Mineral oils have been extensively processed to improve their performance characteristics and meet the demands of modern vehicle technologies, yielding synthetic lubricants. This section also covers environmentally friendly and biodegradable lubricants. Historically, synthetic lubricants were regarded as high-end products with limited market penetration. However, synthetic lubricants are catching up as environmental concerns and engine technology improve. These formulations offer longer oil drain intervals than comparable mineral lubricants in order to suit consumer demand. Synthetic lubricating oils also provide several advantages, including higher hardware compatibility, lower vehicle emissions, and improved fuel efficiency. These qualities encourage the usage of synthetic lubricants, offering up new commercial opportunities.
Automotive greases' market acceptance is promoted by characteristics such as durability and vehicle safety. They protect a vehicle's systems and parts by significantly reducing friction between the sections. Furthermore, as the industry uses smaller and more intricate automotive systems, the demand for low-viscosity, high-performance lubricating oils is increasing. This is expected to help with the innovation and development of premium lubricating oils in the coming years.
Additionally, rising requirements for excellent performance in autos drive the use of innovative products. Automotive grease are critical for ensuring that consumer and industrial vehicles function properly in tough weather conditions. For instance, tractor engine oils help increase hardware compatibility of unwavering toughness and quality while safeguarding and ensuring the tractor's excellent performance in adverse weather and field conditions. They are intended to assist a vehicle engine's proper operation and prevent system overheating between -40°C and 250°C. Over the next few years, the automotive grease market will benefit from its better features and advantages. Thus driving the Automotive Grease Market revenue.
The Automotive Grease Market segmentation, based on Oil Type, includes Synthetic, Semi-synthetic, and Conventional. In 2023, the conventional segment accounted for the greatest proportion of the automotive grease market. This oil, also known as ordinary or mineral oil, is obtained straight from crude oil. Its temperature resistance and stability make it suitable for use in motor oil for lubrication and enhanced engine protection. It can also be formulated in a variety of quality and viscosity ratings. It is best suited for drivers with consistent driving patterns and uncomplicated engine designs.
Figure 1: Automotive Grease Market, By Oil Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Automotive Grease Market segmentation, based on Product Type, includes Engine Oil, Gear Oil, Transmission Fluids, Coolant and Brake Fluid & greases. In 2023, engine oil dominated the market. Engine oils are most typically used to lubricate internal combustion engines in automobiles. These high-performance lubricants come in three types: fully synthetic, part synthetic, and mineral oils. Engine oils include a variety of excellent properties, including high viscosity, heat resistance, wear prevention, and strength. Thus, all of these variables contribute to the increase in engine oils.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The automotive grease market in North America will dominate this market. The huge industrialization taking place in Mexico is the primary engine of the North American market. Mexico has emerged as a major automotive manufacturing hub in the recent decade. Many major automakers in the United States have relocated their manufacturing facilities to Mexico due to the country's low production costs. In 2021, Mexico manufactured more than 2.5 million light autos, with General Motors, an American company, accounting for around 19% of the total production.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AUTOMOTIVE GREASE MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Grease Market accounts for the second-largest market share. This is due to the rising consumer demand for high-quality and efficient lubricating oil. Further, the German Automotive Grease Market held the largest market share, and the UK Automotive Grease Market was the fastest-growing market in the European region.
The Asia-Pacific Automotive Grease Market is expected to grow at the fastest CAGR from 2024 to 2032. The automotive sector is expected to increase significantly throughout the forecast period, thanks to the region's strong economic expansion, major construction projects, and the implementation of various favorable government policies such as 100% FDI and "Smart Cities." Moreover, China’s Automotive Grease Market held the largest market share, and the Indian Automotive Grease Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Grease Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Grease industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Grease industry to benefit clients and increase the market sector. In recent years, the Automotive Grease industry has offered some of the most significant advantages to medicine. Major players in the Automotive Grease Market, including Shell p/c (U.K.), Exxon Mobil Corporation (U.S.), BP p/c (U.K.), Chevron Corporation (U.S.), TotalEnergies SE (France) and others, are attempting to increase market demand by investing in research and development operations.
Chevron firm is an American multinational energy firm that specializes in oil and gas. The second-largest direct descendent of Standard Oil, formerly known as the Standard Oil Company of California (reduced to Socal or CalSo), is located in San Ramon, California, and operates in over 180 countries. Chevron is vertically integrated in the oil and gas industry, with operations including hydrocarbon exploration, production, refining, marketing and transportation, chemical manufacturing and sales, and power generating. In 2020, Chevron Corporation announced the debut of its Havoline ProDS brand of motor oils, which will broaden its product options in the automotive greases industry. These motor oils are specifically formulated to match the needs of current engines, offering outstanding wear protection, engine cleanliness, and fuel efficiency.
Valvoline Inc. is an American retail automotive services firm that trades on the New York Stock Exchange under the ticker symbol VVV. It licenses the Valvoline brand for a variety of vehicle oils, additives, and lubricants. It also owns the Valvoline Instant Oil Change, Great Canadian Oil Change, and Valvoline Express Care auto service franchises. As of 2023, it is the second-largest oil change service provider in the United States, accounting for 10% of the market and operating over 1,650 locations. In 2020, Valvoline introduced a new line of engine oils called Valvoline Extended Protection. These motor oils are intended to provide up to 20,000 miles of guaranteed engine protection and are suitable with all sorts of petrol engines.
In February 2022, ExxonMobil expanded its Mobil 1 and Mobil Super engine oil line with new compositions for hybrid and electric vehicles. The new compositions will improve vehicle performance, increase engine life, and lower maintenance expenses.
In March 2021, BP plc reached an arrangement with Volkswagen Group to supply innovative fuels and lubricants to the automaker. This strategic partnership will allow BP to supply the Volkswagen Group with a variety of high-quality fuels and lubricants, including Castrol EDGE engine oil.
In July 2020, Total SE announced the acquisition of Lubrilog SAS, a French business specializing in lubricant analysis and monitoring. This strategic acquisition will allow Total SE to expand its automotive grease line while also strengthening its market position.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 72.9 Billion |
| Market Size 2024 | USD 76.1 Billion |
| Market Size 2032 | USD 103.6 Billion |
| Compound Annual Growth Rate (CAGR) | 4.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Oil Type, Product Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Shell p/c (U.K.), Exxon Mobil Corporation (U.S.), BP p/c (U.K.), Chevron Corporation (U.S.), TotalEnergies SE (France), China National Petroleum Corporation (China), Idemitsu Kosan (Japan), Sinopec Group (China), Fuchs Petrolub SE (Germany), Valvoline Inc. (U.S.) and ENEOS Corporation (Japan) |
| Key Market Opportunities | ·        Rising demand for environmentally friendly lubricants |
| Key Market Dynamics | ·        Rising demand for passenger automobiles and commercial vehicles |
Frequently Asked Questions (FAQ) :
The Automotive Grease Market size was valued at USD 72.9 Billion in 2023.
The global market is projected to grow at a CAGR of 4.50% from 2024 to 2032.
North America had the largest share in the global market.
The key players in the market are Shell p/c (U.K.), Exxon Mobil Corporation (U.S.), BP p/c (U.K.), Chevron Corporation (U.S.), TotalEnergies SE (France) and others.
The engine oil category dominated the market in 2023.
The conventional category had the largest share of the global market.
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