Market Size of vietnam lubricants Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2015 - 2026 |
|
Market Volume (2024) | 308.23 Million Liters |
|
|
Market Volume (2026) | 341.78 Million Liters |
|
Largest Share by End User | Automotive |
|
|
CAGR (2024 - 2026) | 5.30 % |
|
|
Fastest Growing by End User | Power Generation |
|
|
Market Concentration | High |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Vietnam Lubricants Market Analysis
The Vietnam Lubricants Market size is estimated at 308.23 Million Liters in 2024, and is expected to reach 341.78 Million Liters by 2026, growing at a CAGR of 5.30% 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 increasing use of natural gas reactors and wind turbines for energy generation, power generation is projected to be the fastest-growing end user in Vietnam.
- Largest Segment by Product Type - Engine Oils : Engine oil is the most consumed product type in Vietnam due to the high volumes of engine oil with high replacement frequencies required to lubricate IC engines.
- Fastest Segment by Product Type - Hydraulic Fluids : The expected growth in the construction, mining, steel, marine, and aviation sectors is expected to support the hydraulic fluid consumption in the coming years in Vietnam.
