Automotive Engine Oil Market Product Driving Factors, Capacity and Growth Rate Analysis to 2030

Posted on 2022-12-28 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, Dec 28, 2022 — /EPR Network/ —

Automotive Engine Oil Industry Overview

The global automotive engine oil market size was valued at USD 35.7 billion in 2021 and is projected to rise at a compound annual growth rate (CAGR) of 3.2% in terms of revenue from 2022 to 2030.

This is attributed to growing automobile production and demand for synthetic and conventional products. Sales of the automotive vehicles are witnessing a constant growth over the past few years, majorly in Europe and Asia Pacific regions owing to the rising population and consumer spending capacity. The market is expected to witness substantial growth during the forecast period due to the high level of technological innovations implemented in the overall automotive industry. The emerging need for high-performance engine oils is ever-growing due to tactical vehicle mechanisms and operational blueprints being implemented by multinational automobile manufacturers.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Engine Oil Market

Raw materials such as base oil and additives are used in formulating the product. Crude oil exploration is mainly concentrated in countries such as Venezuela, Saudi Arabia, and Canada. Crude oil processing companies that are engaged in producing heavy carbon fraction and base oil are concentrated in the U.S., China, Russia, and Japan. Saudi Aramco, Marathon Petroleum, and Exxon Mobil are some of the key producers of the raw materials used in manufacturing automotive engine oil.

The global automotive engine oil market is characterized by the integration of raw material suppliers. Base oil availability is the major factor that influences the value chain consisting of the manufacturers. The starting material base oil is obtained from the fractional distillation of crude oil. Several multinationals have a well-established, integrated value chain and are engaged in manufacturing raw materials as well as supplying engine oils as the finished products. These companies are integrated across multiple stages of the value chain in order to maintain a continuous supply of raw materials and ensure low manufacturing costs.

The fully-synthetic grade type is projected to play a crucial role in the further development of vehicle engines. Across the automotive industry, consumers demand smaller engine vehicles with great fuel efficiency and high performance. Vehicle manufacturers have started using turbochargers for engines, which leads to an increase in engine temperature. In such engines, synthetic oil performs smoothly even at high temperatures.

Browse through Grand View Research’s Petrochemicals Industry Research Reports.

Silicone Surfactants Market – The global silicone surfactants market size was valued at USD 1.82 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030.
Benzene Market – The global benzene market size was estimated at USD 44.07 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.1% from 2022 to 2030.

Automotive Engine Oil Market Segmentation

Grand View Research has segmented the global automotive engine oil market report based on the grade, engine type, vehicle type, and region:

Automotive Engine Oil Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- Mineral
- Semi-Synthetic
- Fully-synthetic
Automotive Engine Oil Engine Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- Gasoline
- Diesel
- Alternative Fuels
Automotive Engine Oil Vehicle Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
- Passenger Cars
- Light Commercial Vehicles
- Heavy-Duty Vehicles
- Motorcycle
Automotive Engine Oil Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2018 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Automotive Engine Oil market include

Valvoline
Wurth Group
Castrol
ExxonMobil
Total
Eni GmbH
Amsoil Inc.
Petronas
Fuchs Petrolub
Sinopec Lubricant Company
Lotos
Motul

Order a free sample PDF of the Automotive Engine Oil Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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