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South America Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

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  • September 2022
  • Mordor Intelligence
  • ID: 5656728
UP TO OFF until Dec 31st 2023
The South America Lubricants Market stood at 2.45 billion liters in 2021 and is projected to register a CAGR of 3.37% to reach 2.89 billion liters in 2026.

Key Highlights

  • 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 rising regional demand for low-cost energy from natural-gas-fueled power plants, power generation is the fastest-growing end user of lubricants in South America.
  • Largest Country Market - Brazil: Brazil is the largest lubricant user in South America, with a higher number of motor vehicles, natural gas power plants, and industrial machinery than any other country.
  • Fastest Growing Country Market - Argentina: Argentina is the fastest-growing country in terms of lubricant usage among all South American countries due to expanding vehicle ownership and growing gas-fired power plants.

Key Market Trends

Largest Segment By End User: Automotive

  • In 2020, the South American lubricants market was dominated by the automotive industry, which accounted for around 60.7% of the total lubricant consumption in the region. During 2015-2019, lubricant consumption in the automotive industry increased by around 8.2%.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the metallurgy and metalworking industry, which recorded a dip of 11.99%, followed by automotive (7.36%), during the year.
  • Power generation is likely to be the fastest-growing end-user industry of the market studied, with a CAGR of 3.53% during 2021-2026, followed by automotive (3.20%). The increasing vehicle population in the region is likely to drive the consumption of lubricants in the automotive industry in the coming years.

Largest Country: Brazil

  • In 2020, Brazil was the leading consumer of lubricants in South America, accounting for over 57% of the total lubricant consumption. During 2015-2019, lubricant consumption in Brazil increased by around 8.2%.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the metallurgy and metalworking industry, which recorded an 11.99% dip in its lubricant consumption during 2019-2020, followed by automotive (7.36%).
  • Argentina will likely be the fastest-growing lubricant market during 2021-2026, at a CAGR of 3.8%, followed by Brazil (3.5%). The expected recovery in automotive production and sales in Argentina is likely to drive the growth of lubricant consumption in the future.

Competitive Landscape

The South America Lubricants Market is moderately consolidated, with the top five companies occupying 58.57%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).

Additional Benefits:

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

Table of Contents

1 Executive Summary & Key Findings
2 Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study?
2.3 Research Methodology
3 Key Industry Trends
3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis
4 Market Segmentation
4.1 By End User
4.1.1 Automotive
4.1.2 Heavy Equipment
4.1.3 Metallurgy & Metalworking
4.1.4 Power Generation
4.1.5 Other End-user Industries
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Metalworking Fluids
4.2.5 Transmission & Gear Oils
4.2.6 Other Product Types
4.3 By Country
4.3.1 Argentina
4.3.2 Brazil
4.3.3 Rest of South America
5 Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP Plc (Castrol)
5.3.2 ExxonMobil Corporation
5.3.3 Gulf Oil International
5.3.4 Iconic Lubrificantes
5.3.5 Petrobras
5.3.6 Petronas Lubricants International
5.3.7 Royal Dutch Shell Plc
5.3.8 Terpel
5.3.9 TotalEnergies
5.3.10 YPF
6 Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7 Key Strategic Questions for Lubricants CEOs

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BP Plc (Castrol)
  • ExxonMobil Corporation
  • Gulf Oil International
  • Iconic Lubrificantes
  • Petrobras
  • Petronas Lubricants International
  • Royal Dutch Shell Plc
  • Terpel
  • TotalEnergies
  • YPF