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).

Latin America's market for lubricants and fuel additives is forecast to grow to 1.74 billion U.S. dollars in 2024, up from 1.66 billion U.S. dollars the previous year. By 2027, the market could exceed two billion U.S. dollars in value, making Latin America the world region with the highest compound annual growth rates in this market segment.More information on the lubricant and fuel additives market can be found here.

The Latin America Lubricants Market report segments the industry into Product Type (Engine Oil, Transmission and Gear Oils, Metalworking Fluid, Hydraulic Fluid, Greases, Other Product Types), End-User Industry (Power Generation, Automotive, Heavy Equipment, Metallurgy and Metalworking, Other End-User Industries), and Geography (Mexico, Brazil, Argentina, Rest of Latin America).

South America Industrial lubricants market size is USD 3195.63 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.

The South America lubricants industry is projected to grow from XX million in 2025 to XX million by 2033, exhibiting a CAGR of XXX% during the forecast period. The growth is attributed to the increasing demand for lubricants from the automotive, heavy equipment, and industrial sectors. The growth of the automotive sector is primarily driven by the rising vehicle production and sales in the region. The increasing demand for lubricants from the heavy equipment sector is due to the growing construction and mining activities in countries like Brazil, Argentina, and Chile. The South America lubricants market is dominated by global players such as BP Plc (Castrol), ExxonMobil Corporation, and Royal Dutch Shell Plc. These companies have a strong presence in the region and offer a wide range of lubricants to meet the diverse needs of end-users. The market is also characterized by the presence of several regional players that cater to the specific requirements of local customers. The key trends driving the growth of the lubricants market in South America include the increasing adoption of synthetic and semi-synthetic lubricants, the growing awareness of the importance of lubricant maintenance, and the development of new lubricant technologies. The market is also facing some challenges such as the volatility of raw material prices, the increasing competition from global players, and the stringent environmental regulations. Recent developments include: 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.. Notable trends are: Largest Segment By End User : Automotive.

The South American lubricants market, encompassing engine oils, greases, hydraulic fluids, and metalworking fluids, is experiencing robust growth, driven primarily by the expansion of the automotive and heavy equipment sectors across the region. Brazil, Argentina, and Colombia represent the largest markets, contributing significantly to the overall market size. The increasing industrialization and infrastructure development projects in these countries are fueling demand for lubricants across various end-user industries, including power generation and metallurgy. Furthermore, the rising adoption of advanced lubricant technologies, focused on improving fuel efficiency and engine performance, is another key driver. However, economic volatility in certain South American nations and fluctuations in crude oil prices pose challenges to market growth. Competition amongst established international players like BP, ExxonMobil, and Shell, along with regional players like Petrobras and Terpel, is intense, leading to price competitiveness and innovation in product offerings. The market is witnessing a shift towards higher-performance, environmentally friendly lubricants, aligning with global sustainability initiatives and stricter emission regulations. Growth in specific segments like specialized metalworking fluids for advanced manufacturing techniques is also expected. Overall, the South American lubricants market presents a promising investment opportunity, despite existing challenges, projected to maintain a steady CAGR over the forecast period (2025-2033). While precise figures for market size and CAGR were not provided, a reasonable estimation can be made based on regional growth trends and industry benchmarks. Assuming a current market size (2025) of approximately $5 Billion USD for South America, and considering the drivers and restraints, a conservative CAGR of 4-5% for the forecast period (2025-2033) appears plausible. This assumes steady economic growth in key markets and a continued focus on infrastructure development and industrial expansion. This growth will likely be uneven across the region, with Brazil and Argentina likely outpacing other nations. Market segmentation will continue to evolve with a focus on high-performance products and environmentally conscious solutions driving innovation and product diversification. The competitive landscape remains dynamic, with both multinational corporations and regional players vying for market share. Recent developments include: 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.. Notable trends are: Largest Segment By End User : Automotive.

Latin America's Textile Lubricants market will be USD 140.76 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031. The market is foreseen to reach USD 203.0 million by 2031 due to increased demand for eco-friendly lubricants.

The South America Commercial Vehicles Lubricants Market is anticipated to grow at a CAGR of 3.17% during the forecast period of 2023-2030. The market is expected to reach a value of USD XX million by 2033, from USD XX million in 2025. The growth of the market can be attributed to the increasing demand for commercial vehicles in the region, owing to the growing economic activities and infrastructure development. The market is dominated by global players such as Chevron Corporation, ExxonMobil Corporation, Gulf Oil International, Iconic Lubrificantes, Petrobras, Petronas Lubricants International, Royal Dutch Shell Plc, Terpel, TotalEnergies, and YP. These companies have a strong presence in the region and offer a wide range of lubricants for commercial vehicles. The market is also characterized by the presence of several local and regional players, who cater to the specific needs of the market. Recent developments include: January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.. Notable trends are: Largest Segment By Product Type : Engine Oils.

The South America Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils ) and by Country ( Argentina, Brazil, Colombia )

The South American passenger vehicles lubricants market is expected to grow at a CAGR of 2.81% during the forecast period 2023-2028. The market is estimated to be valued at XX million in 2023 and is projected to reach a revised size of XX million by 2028. Growing vehicle production, increasing urbanization, and rising disposable income are the primary drivers of market growth. The increasing popularity of synthetic lubricants, the growing demand for high-performance vehicles, and the expansion of the aftermarket are expected to contribute to the market's growth. The market is also expected to benefit from the growing awareness of the benefits of using high-quality lubricants and the increasing number of government regulations on vehicle emissions. The major players in the South American passenger vehicles lubricants market include Chevron Corporation, ExxonMobil Corporation, Gulf Oil International, Iconic Lubrificantes, Petrobras, PETRONAS Lubricants International, Royal Dutch Shell Plc, Terpel, TotalEnergies, and YP. Recent developments include: October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.June 2021: YPF partnered with the GM company to supply YPF INFINIA fuels and ACDELCO lubricants for the Chevrolet brand in Argentina.. Notable trends are: Largest Segment By Product Type : Engine Oils.

The South America Passenger Vehicles Lubricants report features an extensive regional analysis, identifying market penetration levels across major geographic areas. It highlights regional growth trends and opportunities, allowing businesses to tailor their market entry strategies and maximize growth in specific regions.

South America Passenger Vehicles Lubricants Market size was valued at USD 3.5 Billion in 2024 and is projected to reach USD 6.2 Billion by 2032, growing at a CAGR of 7.5% from 2025 to 2032.

Key Market Drivers:

Rising Vehicle Sales and Production: The South American passenger vehicle lubricants market is driven by the growth in vehicle sales and production, driven by the expansion of the middle class and urbanization. Brazil's National Association of Motor Vehicle Manufacturers (ANFAVEA) reported an 8.5% increase in vehicle sales in 2023, resulting in a higher demand for maintenance products like lubricants, leading to increased oil changes and other lubricant services.

The South America Automotive Lubricants Market size was valued at USD 5.12 Billion in 2024 and is projected to reach USD 9.24 Billion by 2032, growing at a CAGR of 7.6% from 2025 to 2032.

South America Automotive Lubricants Market Dynamics

The key market dynamics that are shaping the South America Automotive Lubricants Market include:

Key Market Drivers: Growing Automotive Fleet in South America: The South America Automotive Lubricants Market is driven by the growing number of vehicles on the road, particularly in large markets like Brazil and Argentina. With over 50 million registered vehicles, demand for lubricants increases, ensuring smoother engine operation and longer vehicle life. This growth, particularly in Brazil and Argentina, directly impacts lubricant consumption.

The South American automotive lubricant market, valued at approximately $X million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 3.36% from 2025 to 2033. This growth is fueled by several key factors. The expanding vehicle population across the region, particularly in countries like Brazil and Argentina, is a significant driver. Furthermore, increasing urbanization and rising disposable incomes are leading to higher car ownership rates, boosting demand for lubricants. The shift towards more fuel-efficient vehicles, coupled with stricter emission regulations, is prompting the adoption of advanced lubricant technologies, such as synthetic oils, further driving market expansion. The growth is also influenced by the increasing adoption of advanced lubricant technologies such as synthetic oils and specialized fluids tailored for specific engine types, contributing to improved fuel efficiency and vehicle performance. However, the market faces certain restraints. Economic volatility in some South American countries can impact purchasing power and lubricant consumption. Furthermore, the competitive landscape, characterized by both multinational corporations and regional players, leads to price competition, potentially impacting profitability. The market segmentation reveals significant potential in the passenger vehicle segment, which currently dominates, driven by increased personal vehicle ownership. The commercial vehicle segment offers growth opportunities due to the expansion of logistics and transportation sectors. Within product types, engine oils currently hold the largest market share, although growth in specialized fluids like transmission and gear oils, reflecting advancements in automotive technology, is expected to gain momentum in the coming years. Brazil, Argentina, and Colombia represent the largest national markets within the region, collectively contributing significantly to the overall regional growth. Recent developments include: January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.June 2021: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.. Notable trends are: Largest Segment By Vehicle Type : Commercial Vehicles.

Technological advancements in the South America Lubricants industry are shaping the future market landscape. The report evaluates innovation-driven growth and how emerging technologies are transforming industry practices, offering a comprehensive outlook on future opportunities and market potential.

The South America bio-lubricants market is projected to expand at a CAGR of 8.70% during the forecast period of 2025-2033, reaching a value of million by 2033. The market growth is primarily attributed to the rising environmental concerns and the increasing preference for biodegradable and eco-friendly products in various industries. Additionally, the stringent government regulations mandating the use of bio-based lubricants in certain applications are further driving the market growth. Among the key market segments, vegetable oil-based bio-lubricants are expected to hold a significant market share due to their low cost, high lubricity, and excellent biodegradability. The automotive and construction industries are the major end-use sectors for bio-lubricants in South America, owing to the increasing demand for environmentally sustainable products in these sectors. Brazil, Argentina, and Peru are the leading countries in the region, contributing substantially to the overall market growth. The presence of major bio-lubricant manufacturers and supportive government initiatives in these countries is fueling the market expansion. Recent developments include: November 2023: Klüber Lubrication, the market leader for specialty lubricants, was awarded the European Responsible Care® Award by Cefic, the European Chemical Industry Council. Klüber Lubrication was recognized in the category of "Climate Neutrality" for its project "Climate Protection by Solvent Replacement" and its Climate Action Plan. The project involved replacing solvents with more environmentally friendly alternatives in the production process, resulting in a significant reduction in greenhouse gas emissions., December 202: Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, has announced the start of production of the FPSO Sepetiba, also known as Mero-2, in the Mero field offshore Santos Basin in Brazil. The FPSO Sepetiba has an operational capacity of 12 million cubic meters of natural gas and 180,000 barrels of oil per day, making it a significant addition to Brazil's oil and gas industry.. Notable trends are: SURGING DEMAND FOR AUTOMOTIVE APPLICATION.

Latin America Lubricants Market was valued at USD 12.64 Billion in 2024 and is projected to reach USD 16.18 Billion by 2032, growing at a CAGR of 3.6% from 2025 to 2032.

Latin America Lubricants Market Drivers

Growing Automotive Industry: The region is witnessing significant growth in the automotive sector, with increasing vehicle ownership and production. This surge in automotive activity translates directly into higher demand for engine oils, transmission fluids, and other lubricants.

Industrial Expansion: Latin America is experiencing industrial growth across various sectors, including manufacturing, construction, and mining. These industries heavily rely on machinery and equipment that require regular lubrication for optimal performance and longevity.

Infrastructure Development: Ongoing infrastructure projects, such as road construction, port expansion, and energy generation, contribute to the demand for lubricants in heavy-duty equipment and machinery.

Economic Growth: The overall economic growth in many Latin American countries is fueling industrial activity and consumer spending, leading to increased demand for transportation and industrial machinery, and consequently, for lubricants.

The South America Lubricants market is expected to add more than USD 2.5 Billion from 2024 to 2029 due to growing transportation sector

The South American Commercial Vehicles Lubricants Market, valued at approximately $X million in 2025, is projected to experience steady growth, driven by a Compound Annual Growth Rate (CAGR) of 3.17% from 2025 to 2033. This growth is fueled by several key factors. The expanding commercial vehicle fleet across the region, particularly in countries like Brazil, Argentina, and Chile, is a significant driver. Increased infrastructure development and investment in logistics are further boosting demand for lubricants. Furthermore, stringent emission regulations are prompting a shift towards higher-performance, environmentally friendly lubricants, creating opportunities for manufacturers who offer advanced products. However, economic fluctuations in certain South American countries and potential price volatility in raw materials pose challenges to sustained market growth. The market is segmented by product type, including engine oils, greases, hydraulic fluids, and transmission & gear oils, with engine oils currently holding the largest market share due to their essential role in vehicle operation. Leading players like Chevron, ExxonMobil, and Shell are actively competing in this market, focusing on brand recognition, distribution networks, and product innovation to secure market share. The forecast period (2025-2033) anticipates a continuous expansion of the South American Commercial Vehicles Lubricants Market, with growth likely concentrated in sectors experiencing strong economic development and transportation infrastructure upgrades. While the market faces challenges like economic instability and price fluctuations, the long-term outlook remains positive, particularly considering the increasing demand for efficient and environmentally responsible lubricants. Competitive pressures will likely remain intense, pushing manufacturers to enhance their product portfolios, improve distribution networks, and adopt innovative marketing strategies to cater to the specific needs of the commercial vehicle sector across different South American nations. The market is poised for substantial expansion, given the projected growth in commercial vehicle usage and the region's evolving regulatory landscape. Recent developments include: January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.. Notable trends are: Largest Segment By Product Type : Engine Oils.

The Latin America lubricants market is projected to expand at a CAGR of 3.13% during the forecast period of 2025-2033, reaching a value of XX million by 2033. Major market drivers include the growing automotive and heavy equipment industries, coupled with increasing urbanization and industrialization in the region. The rising demand for high-performance lubricants that enhance fuel efficiency and reduce emissions is also supporting market growth. Key trends shaping the market include the adoption of advanced lubrication technologies, such as synthetic and bio-based lubricants, as well as the increasing focus on sustainability and eco-friendly products. The growing awareness of the importance of proper lubrication for equipment maintenance and longevity is further driving demand for lubricants in Latin America. The market is dominated by global players such as BP p.l.c., Chevron Corporation, and Royal Dutch Shell PLC, among others. These companies are investing in research and development to provide innovative lubricant solutions tailored to the specific needs of the region. Recent developments include: May 2022: Shell plc completed the sales of the lubricants division in Brazil to Raizen. This disinvestment will decrease Shell plc's market presence in Brazil's lubricants market., June 2021: Chevron acquired Puma Energy's fuels and lubricants businesses in Latin America, which included assets in eight countries. This strategic move expanded Chevron's market presence in the region and strengthened its lubricants portfolio.. Key drivers for this market are: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Potential restraints include: Increasing Demand for High Performance Lubricants, Growing Demand Form Construction and Power Generation Industries; Increasing Usage of Lubricants in Automotive and Transportation. Notable trends are: Automotive Segment May Witness Significant Market Growth.