The Vietnam 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 (Litres).

The Vietnam lubricants market is relatively concentrated, with a few major players dominating the space. The entrance of new firms and the expansion of distribution networks have diversified the market, offering consumers more choices and services. Competitive Landscape in Vietnam Lubricants Market By Base Oil:Mineral oil-based lubricants dominate the market due to their cost-effectiveness and widespread use in both automotive and industrial applications. However, synthetic lubricants are gaining traction, particularly in high-performance vehicles and industrial machinery, due to their superior properties and longer service life. Bio-based lubricants, though still a niche segment, are growing in popularity as environmental awareness increases.

Market Size for Vietnam Lubricants Industry on the Basis of Volume Sales in Mn Tons, 2018-2023 In 2023, Total Vietnam introduced a new range of eco-friendly lubricants, which contributed to a 15% increase in their sales. This initiative aims to meet the growing consumer demand for sustainable and high-performance products. Ho Chi Minh City and Hanoi are key markets, contributing to over 45% of the total lubricant sales due to their high industrial activity and significant vehicle population. The Vietnam lubricants market reached a valuation of VND 35 Trillion in 2023, driven by the increasing demand across various sectors, including automotive, industrial, and marine. The automotive sector accounted for nearly 60% of the total lubricant consumption, followed by the industrial sector at 30%, and the remaining 10% attributed to marine and other niche applications. The market is characterized by major players such as Castrol BP Petco, Shell Vietnam, Petrolimex, Total Vietnam, and Motul Vietnam. These companies are recognized for their extensive distribution networks, innovative product offerings, and strong brand presence.

The Vietnam lubricants market attained a volume of 305.15 Million Liters in 2024. The industry is expected to grow at a CAGR of 5.20% during the forecast period of 2025-2034 to attain a volume of 506.61 Million Liters by 2034.

Discover the booming Vietnam lubricants market! This comprehensive analysis reveals key trends, drivers, and restraints impacting engine oils, greases, and other lubricant segments until 2033. Learn about leading players and growth opportunities in this dynamic market. Recent developments include: May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.January 2022: Effective January 21, 2022, Royal Dutch Shell plc changes its name to Shell plc.December 2021: The joint venture agreement between Castrol, BP, and the Vietnam National Petroleum Group (Petrolimex) has been extended for another 20 years, from 2022 to 2042. Castrol BP Petco Co. Ltd is the name of the joint venture company.. Notable trends are: Largest Segment By End User : Automotive.

Vietnam Lubricants Market size was valued at USD 1.9 Billion in 2024 and is projected to reach USD 3.3 Billion by 2032, growing at a CAGR of 6.8% from 2025 to 2032.

Key Market Drivers:

Rapid Automotive Industry Growth: The rapid growth of Vietnam's automobile industry will propel the lubricants market. With car sales expected to reach 404,635 units in 2023, a 20.3% rise over the previous year, the growing vehicle population immediately raises demand for engine oils and transmission fluids.

Industrial Manufacturing Expansion: The Vietnam Lubricants Market will be driven by the rise of industrial manufacturing. Vietnam's Index of Industrial Production (IIP) increased by 3.5% in 2023, indicating a strong manufacturing sector. sector received $15.47 billion in foreign direct investment (FDI) in the first 11 months of 2023, accounting for 54.5% of total FDI inflows.

By End Users: Owing to extensive infrastructure and building projects that are now underway in the nation, the construction industry has been found to be the biggest user of industrial lubricants in the nation. The manufacturing and engineering equipment sectors also made significant contributions to the industry's sales volume. By Type of Industrial Lubricant:Due to usage in all significant industries, including manufacturing, power generation, construction, and more, hydraulic oils were found to account for most of the nation's demand for industrial lubricants in 2023. Transformer and industrial gear oils were two more significant additions to the volume of sales in 2023 Vietnam Industrial Lubricant Market

The Vietnam automotive lubricants market is experiencing robust growth, projected to reach a substantial market size in 2025. A Compound Annual Growth Rate (CAGR) of 4.33% from 2019-2033 signifies a consistently expanding market driven by several factors. The burgeoning automotive sector in Vietnam, fueled by increasing vehicle ownership and a growing middle class, significantly boosts demand for lubricants. Furthermore, rising government investments in infrastructure development and the expansion of the manufacturing and logistics sectors contribute to the heightened demand. Stringent emission regulations and a growing awareness of fuel efficiency are also pushing the adoption of higher-quality, advanced lubricants. Leading players like Mekong Petrochemical JSC, AP Saigon Petro JSC, ExxonMobil, and Petrolimex are key contributors to the market's dynamism, leveraging their established distribution networks and brand recognition. Competitive pressures are anticipated to remain strong, particularly given the presence of global giants like ExxonMobil and Shell, who continue to invest in R&D and market penetration strategies. The market is segmented by lubricant type (engine oil, transmission oil, etc.), vehicle type (passenger cars, commercial vehicles), and distribution channel (OEMs, aftermarket). While opportunities abound, the market faces certain challenges. Fluctuations in crude oil prices directly impact production costs and profitability, impacting market stability. Furthermore, competition from both domestic and international players necessitates continuous innovation and strategic differentiation to maintain market share. The ongoing evolution of automotive technology, particularly the rise of electric vehicles, presents both opportunities and threats. While electric vehicles reduce the need for traditional engine lubricants, the demand for specialized lubricants for EV components is emerging as a new avenue for growth. Successfully navigating these challenges and capitalizing on emerging trends will be crucial for sustained success within the dynamic Vietnamese automotive lubricants market. The forecast period from 2025 to 2033 promises sustained growth, with continued expansion in market size and heightened competition. Adaptability to evolving consumer preferences and technological advancements will be vital for players aiming for a strong market position. Key drivers for this market are: Increasing Demand for New Automotive Vehicles, Active Ship Building and Repair Industry. Potential restraints include: Growing Adoption of Electric Vehicles, Other Restraints. Notable trends are: Largest Segment By Vehicle Type : Motorcycles.

Discover the booming Vietnam automotive lubricants market! Our comprehensive analysis reveals a CAGR of 4.33% to 2033, driven by rising vehicle ownership and economic growth. Explore market segments, key players (Castrol, Chevron, ExxonMobil), and future trends. Get your insights now! 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.April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.. Notable trends are: Largest Segment By Vehicle Type : Motorcycles.

The Vietnam Passenger Vehicles Lubricants Market is segmented by Product Type (Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils)

The Vietnam Automotive Lubricants market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

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

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

The Vietnam passenger vehicle lubricants market, valued at approximately $150 million in 2025, is projected to experience steady growth, driven by a rising number of passenger vehicles on the road and increasing vehicle ownership rates. A compound annual growth rate (CAGR) of 3.07% from 2025 to 2033 suggests a market size exceeding $200 million by the end of the forecast period. This growth is fueled by several key factors. The expanding Vietnamese economy is leading to increased disposable incomes, enabling more people to purchase vehicles. Furthermore, government infrastructure investments are improving road networks, supporting greater vehicle usage and consequently, higher lubricant demand. The market is segmented by product type, with engine oils representing the largest share, followed by greases, hydraulic fluids, and transmission & gear oils. Competition is fierce, with both international giants like BP (Castrol), Chevron, Shell, and TotalEnergies, and domestic players such as AP Saigon Petro JSC and Mekong Petrochemical JSC vying for market share. However, challenges remain. Fluctuations in crude oil prices directly impact lubricant production costs and pricing, potentially affecting market growth. The adoption of electric vehicles (EVs) in the longer term may also present a gradual shift in demand for traditional lubricants. The competitive landscape is characterized by a blend of established international brands leveraging their extensive distribution networks and advanced product formulations, and local companies focusing on cost-competitive offerings and catering to specific market needs. The market demonstrates a clear preference for high-quality lubricants, particularly in the premium segment. This is evident in the success of international brands that offer superior performance and longer-lasting protection. Ongoing efforts by the government to enhance vehicle maintenance standards and safety regulations will further contribute to the demand for high-quality lubricants, benefiting manufacturers that can meet these evolving requirements. Future growth will likely be influenced by the pace of economic expansion, infrastructure development, and the rate of EV adoption, which will influence the long-term outlook for the market. Recent developments include: April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.. Notable trends are: Largest Segment By Product Type : Engine Oils.

In 2022, Vietnam National Petroleum Group (also known as Petrolimex) controlled **** of the petroleum market share in Vietnam. PV Oil held the second-largest share of the Vietnamese petroleum market, followed by Thanh Le.

Vietnam Automotive Lubricants Market size was valued at USD 1.3 Million in 2024 and is projected to reach USD 1.9 Million by 2032, growing at a CAGR of 5.0% from 2025 to 2032.

Key Market Drivers: Growing Automotive Industry: The growing automobile industry is a major driver of the Vietnamese automotive lubricants market. According to the General Statistics Office of Vietnam, Vietnam's automobile output will reach 400,000 vehicles in 2022, indicating a significant increase in vehicle manufacturing and ownership. This expansion drives up lubricant consumption, both for new vehicles at first servicing and to sustain the growing base of older vehicles. As consumer preferences shift toward high-performance, fuel-efficient automobiles, the demand for sophisticated lubricants that fulfill demanding performance standards drives market expansion.

Rising Vehicle Fleet Age: The rising vehicle fleet age in Vietnam is expected to drive the automotive lubricant industry.

The size of the Vietnam Passenger Vehicles Lubricants Market was valued at USD 16 Million in 2023 and is projected to reach USD 18 Million by 2032, with an expected CAGR of 3.07% during the forecast period. Recent developments include: April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.. Key drivers for this market are: Increasing Demand for New Automotive Vehicles, Active Ship Building and Repair Industry. Potential restraints include: Growing Adoption of Electric Vehicles, Other Restraints. Notable trends are: Largest Segment By Product Type : Engine Oils.

The Vietnam passenger vehicles lubricants market attained a volume of 16.38 Million Liters in 2024. The industry is expected to grow at a CAGR of 3.20% during the forecast period of 2025-2034 to attain a volume of 22.44 Million Liters by 2034.

The Vietnam Commercial Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils )

The ASEAN lubricants market, encompassing Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam, exhibits robust growth potential, driven by expanding industrialization, burgeoning automotive sectors, and increasing demand from heavy equipment and power generation industries. A compound annual growth rate (CAGR) exceeding 4.08% signifies a consistently expanding market, projected to reach significant value over the forecast period (2025-2033). Key market drivers include rising vehicle ownership, particularly in rapidly developing economies like Indonesia and Vietnam, coupled with the increasing adoption of advanced lubricant technologies for enhanced engine performance and fuel efficiency. Furthermore, stringent government regulations promoting environmental sustainability are pushing the adoption of eco-friendly lubricants, creating a niche for specialized products. The market is segmented by product type (engine oil, transmission fluids, greases, etc.) and end-user industry, offering opportunities for tailored product development and targeted marketing strategies. Major players like Chevron, BP, ExxonMobil, and others are actively competing in this market, investing in research and development to cater to evolving customer needs. The market's dynamic landscape presents both opportunities and challenges, with competition influencing pricing and product innovation. Despite the positive outlook, challenges exist. Price fluctuations in crude oil, a major raw material, can significantly impact profitability. Competition from both established international brands and local players requires continuous product innovation and efficient supply chain management. Furthermore, maintaining consistent product quality across different ASEAN countries with varying regulatory environments presents operational complexities. However, the overall market trajectory remains optimistic, driven by sustained economic growth and infrastructure development across the region. Strategic partnerships, technological advancements, and targeted marketing initiatives will be crucial for players to capture market share and navigate the competitive landscape successfully. The future growth of the ASEAN lubricants market hinges on effectively addressing these challenges while leveraging the region’s substantial economic and industrial growth. Recent developments include: Nov 2022: Shell Indonesia ('Shell') expanded its Marunda Lubricants Oil Blending Plant (LOBP) in Bekasi to meet the growing demand for premium lubricant products in Indonesia., May 2022: PTT announced its partnership with Aramco to strengthen cooperation across crude oil sourcing, marketing refining, petrochemical products, and liquefied natural gas (LNG) in Thailand.. Key drivers for this market are: Increasing Usage for Transportation Purposes, Other Drivers. Potential restraints include: Increasing Usage for Transportation Purposes, Other Drivers. Notable trends are: Increasing Demand from Automobiles.