Market Size of south korea lubricants Industry
| Icons | Lable | Value |
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Study Period | 2015 - 2026 |
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Market Volume (2024) | 831.87 Million Liters |
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Market Volume (2026) | 883.83 Million Liters |
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Largest Share by End User | Automotive |
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CAGR (2024 - 2026) | 3.08 % |
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Fastest Growing by End User | Power Generation |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South Korea Lubricants Market Analysis
The South Korea Lubricants Market size is estimated at 831.87 Million Liters in 2024, and is expected to reach 883.83 Million Liters by 2026, growing at a CAGR of 3.08% during the forecast period (2024-2026).
- Largest Segment by End-user Industry - Automotive : Automotive was the largest end-use segment in South Korea owing to the higher amount of engine oil & gear oil used in vehicles compared to industrial applications.
- Fastest Segment by End-user Industry - Power Generation : Power generation is the fastest-growing end user of lubricants in South Korea, owing to the rising usage of natural gas reactors and wind turbines for energy generation.
- Largest Segment by Product Type - Engine Oils : Engine oil is the most consumed product type in South Korea owing to the high volume of engine oil and high replacement frequency required to lubricate conventional engines.
- Fastest Segment by Product Type - Transmission & Gear Oils : As the usage of automated cars and electric vehicles grows in South Korea, transmission and gear oils are predicted to rise at a quicker rate than any other product type.
