The India Lubricants Market Report is Segmented by Product Type (Automotive Engine Oil, Industrial Engine Oil, Transmission Fluids, Gear Oil, Brake Fluids, Hydraulic Fluids, Greases, and More), End-User Industry (Automotive, Marine, Aerospace, Heavy Equipment, and Industrial), and Base Stock Type (Mineral Oil-Based, Synthetic, Semi-Synthetic, and Bio-Based). The Market Forecasts are Provided in Terms of Volume (Liters).

Indian ore and mineral production sectors have been growing at a steady pace. With increasing machinery being put into work, the demand for industrial lubricants has also increased over the years. The south Asian country ranked third in market volume of lubricants in 2018. Indian Oil Corporation Limited had the highest share of ** percent in the lubricant market across the country in 2018. The company employs a workforce of over ** thousand and was listed at number *** in the list of world’s largest companies in Fortune ‘Global 500’ list in 2018. Consumption trendsThe consumption of lubricants in the automotive industry has increased steadily over the past years. With the number of cars increasing exponentially across the nation, the annual lubricant consumption has also grown and was estimated to be around *** million liters in 2018. The states however have benefitted with the increased demands in the form of increased sales taxes from the motor gasoline and lubricant sales. Continue to make in India?The ‘Make in India’ initiative which focusses on making India a global manufacturing hub is likely to increase the demand volume of lubricants across the nation. With tremendous growth possibilities, there is also the question of increased environmental pollution that would require careful insights. With a balance in environmental regulations and industrial lubricant demand, the industry can presumably slip away from the chains that might be a hindrance to its full potential.

India lubricants market size reached USD 4.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 7.5 Billion by 2033, exhibiting a growth rate (CAGR) of 4.85% during 2025-2033. The expanding automotive industry, which has a direct impact on the demand for lubricants, as vehicles require lubrication for engines, transmissions, and other components, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, base oil, and end use industry.

Get expert insights on India Lubricant Market, size at USD in 2023 featuring market trends and strategic insights.

India Passenger Vehicles Lubricants Market is segmented by product type (engine oils, greases, hydraulic fluids, transmission & gear oils).

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Lubricants Market Size 2025-2029

The lubricants market size is valued to increase by USD 26.7 billion, at a CAGR of 3.5% from 2024 to 2029. Increasing demand for lubricants from end-user industries will drive the lubricants market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 38% growth during the forecast period.
By Application - Automotive oils segment was valued at USD 71.80 billion in 2023
By Product - Mineral oil-based lubricants segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 31.96 billion
Market Future Opportunities: USD 26.70 billion
CAGR from 2024 to 2029 : 3.5%

Market Summary

The market experiences continuous expansion due to the escalating demand from various end-user industries, including automotive, manufacturing, and power generation. One significant trend shaping this sector is the increasing adoption of bio-based lubricants, which offer environmental benefits and improved performance. These eco-friendly alternatives have gained traction, especially in industries striving for sustainability. Crude oil price fluctuations significantly impact the market, as petroleum-derived lubricants account for a substantial portion of the overall demand. The market's size was valued at USD 165.5 billion in 2020, according to market research. As industries adapt to the evolving market landscape, they seek advanced lubricant solutions to enhance efficiency, reduce downtime, and ensure optimal performance.
Innovations in lubricant technology, such as nanotechnology and synthetic lubricants, are driving growth in the market. These advancements offer improved wear protection, increased energy efficiency, and extended lubricant life. As industries continue to prioritize productivity and sustainability, the market is poised for continued expansion.

What will be the Size of the Lubricants Market during the forecast period?

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How is the Lubricants Market Segmented?

The lubricants industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Automotive oils
  Industrial oils
  Process oils
  Metalworking fluids
  Greases


Product

  Mineral oil-based lubricants
  Synthetic lubricants
  Bio-based lubricants


Grade Type

  Group II
  Group III
  Group I
  Group IV
  Group V


End-user

  Transportation
  Manufacturing
  Construction
  Mining
  Agriculture
  Others


Distribution Channel

  Direct Sales
  Distributors/Wholesalers
  Retail
  Online


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Application Insights

The automotive oils segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, fueled by the increasing production and demand for vehicles, particularly in developing countries like China, India, Brazil, and Indonesia. This expanding automotive sector relies heavily on lubricants, which are essential for reducing friction and wear in various automotive applications, such as engine oils, hydraulic fluids, and gear lubricants. The market is witnessing a shift towards synthetic lubricants, including synthetic esters and synthetic lubricants, due to their superior performance under extreme pressure and high temperatures. These advanced lubricants offer enhanced wear protection, oxidation inhibition, and viscosity control. Moreover, the demand for biodegradable lubricants and those with improved rheological properties is on the rise, driven by environmental concerns and the need for improved tribology testing and oil analysis.

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The Automotive oils segment was valued at USD 71.80 billion in 2019 and showed a gradual increase during the forecast period.

According to recent industry reports, the market is projected to grow, reaching a market size of USD 212.4 billion by 2026. This growth is attributed to the increasing demand for high-performance lubricants, the ongoing research and development in lubricant technology, and the expanding automotive and industrial sectors.

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Regional Analysis

APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The mark

The India Industrial Lubricants Market report segments the industry into Product Type (Engine Oil, Transmission and Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, Process Oil, Other Product Types) and End-User Industry (Power Generation, Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, Chemical Manufacturing, Other End-User Industries (Packaging, Oil and Gas (Drilling Fluids))).

The India industrial lubricants market is projected to expand from USD 59.4 billion in 2025 to USD 86.8 billion by 2035, reflecting a compound annual growth rate (CAGR) of 3.8%.

This statistic represents the share of automotive lubricant market across India in fiscal year 2016, based on company. During the measured time period, Castrol had a share of ** percent in the automotive lubricant market across the country.

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The lubricants market share in India is expected to increase by 809.93 thousand tons from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.58%.

This lubricants market in India research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the lubricants market in India segmentation by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants) and application (automotive oils, industrial oils, process oils, metalworking fluids, and greases). The India lubricants market report also offers information on several market vendors, including Bharat Petroleum Corp. Ltd., BP Plc, Exxon Mobil Corp., Gulf Oil Lubricants India Ltd., Indian Oil Corp. Ltd., Oil, and Natural Gas Corp. Ltd., Royal Dutch Shell Plc, Tide Water Oil Co. Ltd., TOTAL SE, and Valvoline Inc. among others.

What will the Lubricants Market Size in India be During the Forecast Period?

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Lubricants Market In India: Key Drivers, Trends, and Challenges

The increasing demand from end-user industries is notably driving the lubricants market growth in India, although factors such as fluctuations in crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lubricants industry in India. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Lubricants Market Driver in India

The increasing demand from end-user industries is one of the key drivers supporting the lubricants market growth in India. In the construction industry, lubricants are used in construction equipment owing to their anti-wear characteristics, resistance to corrosion, and others. Hydraulic fluids made from lubricants are used in earthmoving equipment such as crawler excavators, mini excavators, and others because of their excellent energy transmission capacity. Additionally, they are also used to increase the drain/re-greasing intervals of the equipment, lubrication efficiency, and the wear resistance of friction pairs, as well as to enhance the lifespan of the equipment. They are used as hydraulic fluids, compressor oils, and others in the steel industry for various applications. Equipment such as blast furnaces, continuous castings, and others require lubricants to reduce downtime and increase operational efficiency. Such factors will drive market growth during the forecast period.

Key Lubricants Market Trend in India

The rising adoption of synthetic lubricants is another factor supporting the lubricants market growth in India. Synthetic lubricants that offer better performance can be against corrosion & oxidation. They have resistive to a wide range of temperature from -60°C to a high temperature like 450 °C and more. It also increases the service life of lubricants by 4-8 times longer than petroleum lubricants. Significantly, they have better performance when compared to mineral lubricants. Using synthetic lubricants result in longer machinery life because less wear results in more production during the life of machine and tools. Thus, the adoption of synthetic lubricants will significantly increase lubricants' market share growth during the forecast period.

Key Lubricants Market Challenge in India

The fluctuations in crude oil prices is hindering the lubricants market growth in India. The increasing prices of crude oil in India have adversely affected the manufacturers and end-users. Fluctuations in crude oil prices are a major factor that causes volatility in raw material prices. Synthetic lubricants are primarily derived from hydrocarbons which is derived from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are a few other major sources of construction lubricants. Volatility in raw material prices can hinder the growth of the lubricants market in India as it adversely affects the supply and profit margins of manufacturers.

This lubricants market in India analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the lubricants market in India as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lubricants market in

• The global industry was valued at US$ 151.1 Bn in 2023
• It is estimated to grow at a CAGR of 2.6% from 2024 to 2034 and reach US$ 206.9 Bn by the end of 2034

Market Introduction

Regional Outlook

Lubricant Market Snapshot

Lubricants Market Outlook

According to our latest research, the global lubricants market size in 2024 stands at USD 142.8 billion, reflecting steady expansion driven by industrialization and automotive demand. The market is projected to grow at a CAGR of 3.2% from 2025 to 2033, reaching an estimated USD 189.2 billion by the end of the forecast period. This growth is underpinned by rising vehicle production, increasing industrial output, and a surge in demand for high-performance lubricants across diverse sectors, as per our comprehensive analysis.

One of the primary growth factors for the lubricants market is the robust expansion of the global automotive sector. As vehicle ownership soars in emerging economies and established markets alike, the need for high-quality lubricants to ensure optimal engine performance and longevity is surging. Technological advancements in engine design and stricter emission norms are also compelling manufacturers to develop advanced lubricant formulations that cater to new-generation engines. These factors, coupled with the increasing consumer preference for fuel-efficient and low-emission vehicles, are significantly contributing to the rising consumption of both synthetic and semi-synthetic lubricants worldwide.

Another key driver shaping the lubricants market is the rapid industrialization observed across Asia Pacific, Latin America, and parts of Africa. Industrial machinery, power generation equipment, and manufacturing processes require reliable lubrication to maintain operational efficiency and reduce downtime. The expansion of sectors such as construction, mining, and energy has led to a heightened focus on equipment maintenance, thereby fueling demand for industrial lubricants. Furthermore, the ongoing shift towards automation and digitization in manufacturing is prompting the adoption of specialty lubricants tailored for new machinery and robotic applications, further propelling market growth.

Sustainability trends and environmental regulations are also influencing the lubricants market, particularly with the emergence of bio-based and eco-friendly lubricant solutions. Stringent government policies aimed at reducing carbon emissions and minimizing environmental impact are encouraging both manufacturers and end-users to transition towards biodegradable and low-toxicity lubricants. The development of advanced bio-based lubricants, which offer comparable or superior performance to traditional mineral oil-based products, is gaining traction, especially in regions with strong regulatory frameworks such as Europe and North America. This shift not only aligns with global sustainability goals but also opens up new avenues for innovation and differentiation within the market.

The role of Oil & Gas Lubricants in the industry is becoming increasingly significant as the demand for energy continues to rise globally. These lubricants are essential for the smooth operation of machinery and equipment in the oil and gas sector, where they help reduce friction, wear, and corrosion. With the ongoing exploration and production activities in both conventional and unconventional oil and gas fields, the need for high-performance lubricants that can withstand extreme temperatures and pressures is paramount. Additionally, the push for more sustainable and efficient operations in the oil and gas industry is driving innovation in lubricant formulations, ensuring they meet the stringent requirements of modern extraction and processing technologies. This trend is expected to bolster the growth of the lubricants market, particularly in regions with significant oil and gas activities.

Regionally, the Asia Pacific dominates the global lubricants market, accounting for a significant share of total consumption and revenue. This leadership is attributed to the regionÂ’s booming automotive industry, rapid industrial expansion, and large-scale infrastructure development. Countries like China, India, and Japan are major contributors, with their growing manufacturing bases and rising vehicle fleets. North America and Europe follow, supported by technological advancements, high awareness regarding equipment maintenance, and strict environmental standards. Emerging markets in Latin America and the Middle East & Africa are also witnessing steady growth, driven by indu

Forecast: Petroleum Based Lubricant Market Size Value in India 2022 - 2026 Discover more data with ReportLinker!

The India Synthetic Lubricants Market size is valued at around USD 305.71 million in 2025 and is projected to reach USD 550.51 million by 2030. at a CAGR of around 10.30% during 2025-30.

Castrol India Limited is an automotive and industrial lubricant manufacturing company. It was the leading lubricant company in India based on market capitalization as of August 2023, with over *** billion Indian rupees. Gulf Oil Lubricants was in a distant second position at that time, with a market capitalization amounting to nearly ** billion Indian rupees.

Petroleum Based Lubricant Market Size Value Per Capita in India, 2021 Discover more data with ReportLinker!

The India Lubricants Market, valued at approximately ₹100 billion (USD 12.5 billion) in 2025, is projected to experience robust growth, driven by the burgeoning automotive sector, expanding industrialization, and rising infrastructure development. A compound annual growth rate (CAGR) of 5.58% from 2025 to 2033 suggests a significant market expansion, reaching an estimated ₹160 billion (USD 20 billion) by 2033. This growth is fueled by increasing vehicle ownership, particularly two-wheelers and passenger cars, alongside a surge in demand for lubricants in manufacturing, construction, and energy sectors. Government initiatives promoting infrastructure development and industrial growth further bolster market prospects. The market segmentation reveals a strong presence of both automotive and industrial lubricants, with automotive lubricants likely holding a larger market share due to higher vehicle sales. Key players, including Bharat Petroleum, Indian Oil, and international giants like Shell and ExxonMobil, are engaging in competitive strategies focusing on product innovation, brand building, and strategic partnerships to capture market share. This includes focusing on higher-margin, specialized lubricants and strengthening distribution networks to cater to the diverse needs of the Indian market. The market's growth, however, faces certain constraints. Fluctuations in crude oil prices directly impact lubricant prices, potentially affecting consumer demand. Furthermore, the market faces challenges related to counterfeit products and the need to address environmental concerns regarding lubricant disposal. Companies are proactively addressing these challenges through sustainable lubricant development, supply chain transparency initiatives, and strong brand positioning to maintain consumer trust. The focus on meeting stringent emission standards is also driving demand for higher-performance, environmentally friendly lubricants. The expansion of the lubricants market is projected to create significant opportunities across the value chain, including manufacturing, distribution, and aftermarket services.

[221+ Pages Report] The India industrial lubricants market size is expected to grow from USD 12.34 billion in 2023 to USD 18.26 billion by 2032, at a CAGR of 4.45% from 2024-2032

USD 61.59 Million in 2024; projected USD 121.41 Million by 2033; CAGR 7.91%.

The industrial lubricant market is estimated to generate a market size of USD 27.28 billion in 2025 and is expected to reach USD 43.59 billion by 2035, reflecting a compound annual growth rate (CAGR) of 4.8% during the forecast period.

Semi-annual Market Update

Analyzing Top Countries Formulating, Distributing, and Supplying Industrial Lubricant Growth