Mineral-Oil-Based Lubricants Market Global Report 2026

The mineral-oil-based lubricants market size has grown steadily in recent years. It will grow from $33.66 billion in 2025 to $35.34 billion in 2026 at a compound annual growth rate (CAGR) of 5.0%. The historic growth was driven by increasing automotive production and vehicle ownership, rising deployment of industrial machinery, growing demand for equipment maintenance and lubrication solutions, expanding manufacturing and heavy industry activities, and increasing adoption of mineral-oil-based lubricants across industrial applications.

The mineral-oil-based lubricants market size is expected to see steady growth in the next few years. It will grow to $42.25 billion in 2030 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to rising demand for high-efficiency lubrication systems, increasing need for improved equipment lifespan and reliability, growing adoption of advanced additive technologies, expanding industrial automation and machinery usage, and increasing demand for specialized lubricants for extreme operating conditions. Major trends in the forecast period include growing demand for high-performance mineral oil lubricant formulations, increasing adoption of advanced lubricant additive technologies, rising focus on extended drain interval lubricant solutions, increasing development of low-viscosity and fuel-efficient lubricants, and growing demand for enhanced thermal and oxidation stability in lubricants.

The growth in vehicle ownership and automotive production is expected to propel the growth of the mineral-oil-based lubricants market going forward. Vehicle ownership refers to the number of privately and commercially operated vehicles in use, while automotive production refers to the manufacturing of passenger and commercial vehicles that require lubrication for engines, transmissions, and other mechanical systems. The growth in vehicle ownership and automotive production is driven by increasing demand for urban mobility and expanding logistics activities, supported by rising disposable incomes and industrialization. Mineral-oil-based lubricants are used in vehicle ownership and automotive production to reduce friction, minimize engine and component wear, improve operational efficiency, and extend the service life of vehicles and manufacturing equipment. For instance, in April 2026, according to the Department for Transport, a UK-based government department responsible for transport policy and infrastructure, the number of licensed vehicles in the United Kingdom reached 42.3 million at the end of 2025, reflecting a 1% increase compared to 2024. Therefore, the growth in vehicle ownership and automotive production is driving the growth of the mineral-oil-based lubricants market.

Major companies operating in the mineral-oil-based lubricants market are focusing on technological advancements, such as eco-friendly packaging, to strengthen sustainability and reduce environmental impact. Eco-friendly packaging refers to packaging materials and systems designed to minimize environmental impact through the use of recyclable, biodegradable, or reusable materials while reducing waste, pollution, and dependence on non-renewable resources. For instance, in March 2023, Uno Minda, an India-based automotive components company, introduced a range of BS-VI-compliant automotive engine oils for two-wheelers, expanding its aftermarket lubricants portfolio with mineral, semi-synthetic, and fully synthetic variants. The product range is designed to enhance engine performance, provide superior wear protection, and improve fuel efficiency while meeting BS-VI emission standards. It also follows a tiered formulation strategy for different engine capacities and incorporates eco-friendly packaging to reduce environmental impact.

In March 2024, Saudi Aramco, a Saudi Arabia-based integrated energy and chemicals company, acquired a 100% equity stake in Esmax Distribución SpA for an undisclosed amount. Through this acquisition, Aramco aims to strengthen its downstream value chain, expand its global retail footprint, and establish its first downstream retail investment in South America. Esmax Distribución SpA is a Chile-based company that operates retail fuel stations, airport fuel operations, fuel distribution terminals, and a lubricant blending plant across the country.

Major companies operating in the mineral-oil-based lubricants market are China Petroleum & Chemical Corporation, Shell plc, Exxon Mobil Corporation, BP plc, TotalEnergies SE, Chevron Corporation, PJSC LUKOIL, Petróleo Brasileiro S.A., Indian Oil Corporation Limited, Fuchs Petrolub SE, Phillips 66 Company, Eni S.p.A., ENEOS Corporation, Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad, PTT Public Company Limited, Repsol S.A., SK Enmove, GS Caltex, Cosmo Energy Holdings Co. Ltd., Quaker Houghton, PT Pertamina Lubricants, Motul S.A., Oman Oil Marketing Company SAOG, Bangchak Corporation Public Company Limited.

Asia-Pacific was the dominating region in the mineral-oil-based lubricants market in 2025. Asia-Pacific is expected to be the rapidly growing region in the forecast period. The regions covered in the mineral-oil-based lubricants market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the mineral-oil-based lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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