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

The South America Lubricants Market is segmented by end user (automotive, heavy equipment, metallurgy & metalworking, power generation), by product type (engine oils, greases, hydraulic fluids, metalworking fluids, transmission & gear oils) and by country (Argentina, Brazil).

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South America Lubricants Market Size

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South America Lubricants Market
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svg icon Study Period 2015 - 2026
svg icon Market Volume (2024) 2.72 Billion Liters
svg icon Market Volume (2026) 2.89 Billion Liters
svg icon Largest Share by End User Automotive
svg icon CAGR (2024 - 2026) 3.08 %
svg icon Largest Share by Country Brazil
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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South America Lubricants Market Analysis

The South America Lubricants Market size is estimated at 2.72 Billion Liters in 2024, and is expected to reach 2.89 Billion Liters by 2026, growing at a CAGR of 3.08% during the forecast period (2024-2026).

  • Largest Segment by End-user Industry - Automotive : Due to the huge volume of lubricants used in motor vehicles compared to any other industrial application, automotive was the largest end user among all categories.
  • Fastest Segment by End-user Industry - Power Generation : Due to the rising regional demand for low-cost energy from natural-gas-fueled power plants, power generation is the fastest-growing end user of lubricants in South America.
  • Largest Country Market - Brazil : Brazil is the largest lubricant user in South America, with a higher number of motor vehicles, natural gas power plants, and industrial machinery than any other country.
  • Fastest Growing Country Market - Argentina : Argentina is the fastest-growing country in terms of lubricant usage among all South American countries due to expanding vehicle ownership and growing gas-fired power plants.

South America Lubricants Market Trends

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

Largest Segment By End User : Automotive

  • In 2020, the South American lubricants market was dominated by the automotive industry, which accounted for around 60.7% of the total lubricant consumption in the region. During 2015-2019, lubricant consumption in the automotive industry increased by around 8.2%.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the metallurgy and metalworking industry, which recorded a dip of 11.99%, followed by automotive (7.36%), during the year.
  • Power generation is likely to be the fastest-growing end-user industry of the market studied, with a CAGR of 3.53% during 2021-2026, followed by automotive (3.20%). The increasing vehicle population in the region is likely to drive the consumption of lubricants in the automotive industry in the coming years.
South America Lubricants Market

Largest Country : Brazil

  • In 2020, Brazil was the leading consumer of lubricants in South America, accounting for over 57% of the total lubricant consumption. During 2015-2019, lubricant consumption in Brazil increased by around 8.2%.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the metallurgy and metalworking industry, which recorded an 11.99% dip in its lubricant consumption during 2019-2020, followed by automotive (7.36%).
  • Argentina will likely be the fastest-growing lubricant market during 2021-2026, at a CAGR of 3.8%, followed by Brazil (3.5%). The expected recovery in automotive production and sales in Argentina is likely to drive the growth of lubricant consumption in the future.
South America Lubricants Market

South America Lubricants Industry Overview

The South America Lubricants Market is moderately consolidated, with the top five companies occupying 58.57%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).

South America Lubricants Market Leaders

  1. ExxonMobil Corporation

  2. Iconic Lubrificantes

  3. Petrobras

  4. Royal Dutch Shell Plc

  5. Terpel

*Disclaimer: Major Players sorted in no particular order

South America Lubricants Market
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South America Lubricants Market News

  • March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
  • January 2022: Effective January 21, 2022, Royal Dutch Shell plc changes its name to Shell plc.

South America Lubricants Market Report - Table of Contents

  1. 1. Executive Summary & Key Findings

  2. 2. Introduction

    1. 2.1. Study Assumptions & Market Definition

    2. 2.2. Scope of the Study

    3. 2.3. Research Methodology

  3. 3. Key Industry Trends

    1. 3.1. Automotive Industry Trends

    2. 3.2. Manufacturing Industry Trends

    3. 3.3. Power Generation Industry Trends

    4. 3.4. Regulatory Framework

    5. 3.5. Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1. By End User

      1. 4.1.1. Automotive

      2. 4.1.2. Heavy Equipment

      3. 4.1.3. Metallurgy & Metalworking

      4. 4.1.4. Power Generation

      5. 4.1.5. Other End-user Industries

    2. 4.2. By Product Type

      1. 4.2.1. Engine Oils

      2. 4.2.2. Greases

      3. 4.2.3. Hydraulic Fluids

      4. 4.2.4. Metalworking Fluids

      5. 4.2.5. Transmission & Gear Oils

      6. 4.2.6. Other Product Types

    3. 4.3. By Country

      1. 4.3.1. Argentina

      2. 4.3.2. Brazil

      3. 4.3.3. Rest of South America

  5. 5. Competitive Landscape

    1. 5.1. Key Strategic Moves

    2. 5.2. Market Share Analysis

    3. 5.3. Company Profiles

      1. 5.3.1. BP Plc (Castrol)

      2. 5.3.2. ExxonMobil Corporation

      3. 5.3.3. Gulf Oil International

      4. 5.3.4. Iconic Lubrificantes

      5. 5.3.5. Petrobras

      6. 5.3.6. Petronas Lubricants International

      7. 5.3.7. Royal Dutch Shell Plc

      8. 5.3.8. Terpel

      9. 5.3.9. TotalEnergies

      10. 5.3.10. YPF

  6. 6. Appendix

    1. 6.1. Appendix-1 References

    2. 6.2. Appendix-2 List of Tables & Figures

  7. 7. Key Strategic Questions for Lubricants CEOs

List of Tables & Figures

  1. Figure 1:  
  2. VEHICLE POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026
  1. Figure 2:  
  2. COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026
  1. Figure 3:  
  2. MOTORCYCLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026
  1. Figure 4:  
  2. PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026
  1. Figure 5:  
  2. MANUFACTURING VALUE ADDED, USD BILLION (CURRENT VALUE), SOUTH AMERICA, 2015 - 2020
  1. Figure 6:  
  2. POWER GENERATION CAPACITY, GIGAWATT (GW), SOUTH AMERICA, 2015 - 2020
  1. Figure 7:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, BY END USER, 2015-2026
  1. Figure 8:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 9:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, AUTOMOTIVE, 2015-2026
  1. Figure 10:  
  2. SOUTH AMERICA LUBRICANTS MARKET, AUTOMOTIVE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 11:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, HEAVY EQUIPMENT, 2015-2026
  1. Figure 12:  
  2. SOUTH AMERICA LUBRICANTS MARKET, HEAVY EQUIPMENT, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 13:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, METALLURGY & METALWORKING, 2015-2026
  1. Figure 14:  
  2. SOUTH AMERICA LUBRICANTS MARKET, METALLURGY & METALWORKING, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 15:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, POWER GENERATION, 2015-2026
  1. Figure 16:  
  2. SOUTH AMERICA LUBRICANTS MARKET, POWER GENERATION, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 17:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER END-USER INDUSTRIES, 2015-2026
  1. Figure 18:  
  2. SOUTH AMERICA LUBRICANTS MARKET, OTHER END-USER INDUSTRIES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 19:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
  1. Figure 20:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 21:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
  1. Figure 22:  
  2. SOUTH AMERICA LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 23:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
  1. Figure 24:  
  2. SOUTH AMERICA LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 25:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
  1. Figure 26:  
  2. SOUTH AMERICA LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 27:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, METALWORKING FLUIDS, 2015-2026
  1. Figure 28:  
  2. SOUTH AMERICA LUBRICANTS MARKET, METALWORKING FLUIDS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 29:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026
  1. Figure 30:  
  2. SOUTH AMERICA LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 31:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER PRODUCT TYPES, 2015-2026
  1. Figure 32:  
  2. SOUTH AMERICA LUBRICANTS MARKET, OTHER PRODUCT TYPES, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 33:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, BY COUNTRY, 2015-2026
  1. Figure 34:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME SHARE (%), BY COUNTRY, 2020
  1. Figure 35:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, ARGENTINA, 2015-2026
  1. Figure 36:  
  2. SOUTH AMERICA LUBRICANTS MARKET, ARGENTINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 37:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, BRAZIL, 2015-2026
  1. Figure 38:  
  2. SOUTH AMERICA LUBRICANTS MARKET, BRAZIL, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 39:  
  2. SOUTH AMERICA LUBRICANTS MARKET, VOLUME IN LITERS, REST OF SOUTH AMERICA, 2015-2026
  1. Figure 40:  
  2. SOUTH AMERICA LUBRICANTS MARKET, REST OF SOUTH AMERICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 41:  
  2. SOUTH AMERICA LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 42:  
  2. SOUTH AMERICA LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 43:  
  2. SOUTH AMERICA LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

South America Lubricants Industry Segmentation

By End User
Automotive
Heavy Equipment
Metallurgy & Metalworking
Power Generation
Other End-user Industries
By Product Type
Engine Oils
Greases
Hydraulic Fluids
Metalworking Fluids
Transmission & Gear Oils
Other Product Types
By Country
Argentina
Brazil
Rest of South America
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Market Definition

  • Vehicle Types and Industrial Equipment - Automotive (Passenger Vehicles, Commercial Vehicles and Motorcycles), Power Generation, Heavy Equipment, Metallurgy & Metalworking and Other End-user Industries (Marine, Aviation etc.) are considered under the lubricants market.​
  • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission & gear oils, hydraulic fluids, metalworking fluids, and greases are taken into consideration.​
  • Service Refill - Service/maintenance refill is considered while accounting the lubricant consumption for each of the vehicle and equipment, under the study.​
  • Factory Fill - First lubricant fill-ups for newly produced vehicles and industrial equipment are considered under the study.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
  • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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South America Lubricants Market Research FAQs

The South America Lubricants Market size is expected to reach 2.72 billion Liters in 2024 and grow at a CAGR of 3.08% to reach 2.89 billion Liters by 2026.

In 2024, the South America Lubricants Market size is expected to reach 2.72 billion Liters.

ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel are the major companies operating in the South America Lubricants Market.

In the South America Lubricants Market, the Automotive segment accounts for the largest share by end user.

In 2024, Brazil accounts for the largest share by country in the South America Lubricants Market.

In 2023, the South America Lubricants Market size was estimated at 2.64 billion Liters. The report covers the South America Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Lubricants Market size for years: 2024, 2025 and 2026.

South America Lubricants Industry Report

Statistics for the 2023 South America Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Lubricants analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.

South America Lubricants Market Report Snapshots

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