United States Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2018 - 2026

The United States Lubricants Market size is estimated at 7.08 Billion Liters in 2024, and is expected to reach 7.30 Billion Liters by 2026, growing at a CAGR of 1.54% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by End-user Industry - Automotive : Among all end-user segments, automotive was the largest end user, owing to the high proportion of engine and transmission oil usage in motor vehicles than in any application.
• Fastest Segment by End-user Industry - Automotive : Automotive is expected to be the fastest-growing lubricant end user in the country, owing to expanding passenger and commercial vehicle ownership and recovering travel rates.
• Largest Segment by Product Type - Engine Oils : Engine oil is the most consumed product type, owing to the high volume of engine oil with high replacement frequencies required to lubricate car and truck engines.
• Fastest Segment by Product Type - Engine Oils : Engine oil consumption in the US is likely to grow at a faster rate than other product types due to the rising vehicle activity rates and surge in construction activity.

US Lubricants Market Trends

Largest Segment By End User : Automotive

• In 2020, the automotive industry dominated the US lubricant market, accounting for around 46.32% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry declined by around 0.04%.
• In 2020, COVID-19-related restrictions led to a decrease in the maintenance requirments from several industries. The major impact was observed in the automotive industry, which recorded a dip of 18.05% during the year, followed by heavy equipment (13.75%).
• Automotive will likely be the fastest-growing end-user industry in the US lubricants market during 2021-2026, with a CAGR of 2.89%, followed by metallurgy and metalworking. Recovery in the average mileage of vehicles and production outputs is likely to drive the consumption of the automotive industry during the next few years.

US Lubricants Industry Overview

The United States Lubricants Market is moderately consolidated, with the top five companies occupying around 46%. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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