South Korea Automotive Lubricants Market Size & Outlook
South Korea automotive lubricants market, 2018-2030 (US$M)
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South Korea automotive lubricants market highlights
- The South Korea automotive lubricants market generated a revenue of USD 3,127.2 million in 2022 and is expected to reach USD 4,091.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.4% from 2023 to 2030.
- In terms of segment, engine oil was the largest revenue generating product in 2022.
- Brake Fluids is the most lucrative product segment registering the fastest growth during the forecast period.
Automotive lubricants market data book summary
| Market revenue in 2022 | USD 3,127.2 million |
| Market revenue in 2030 | USD 4,091.3 million |
| Growth rate | 3.4% (CAGR from 2022 to 2030) |
| Largest segment | Engine oil |
| Fastest growing segment | Brake Fluids |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Greases, Engine oil, Gear oil, Transmission Fluids, Brake Fluids, Coolants |
| Key market players worldwide | Exxon Mobil Corp, BP Castrol KK, Shell PLC, Repsol SA, Sasol, Cepsa, Fuchs SE Registered Shares, LUKOIL, Indian Oil Corporation, Hindustan Petroleum Corporation Limited, Phillips 66 |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.3% of the global automotive lubricants market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China automotive lubricants market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 31,089.9 million by 2030.
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Automotive Lubricants Market Scope
Automotive Lubricants Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea automotive lubricants market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive lubricants market will help companies and investors design strategic landscapes.
Engine oil was the largest segment with a revenue share of 55.37% in 2022. Horizon Databook has segmented the South Korea automotive lubricants market based on greases, engine oil, gear oil, transmission fluids, brake fluids, coolants covering the revenue growth of each sub-segment from 2018 to 2030.
The economic slowdown of Korea has led to a decrease in domestic sales of vehicles in the country. Major automobile companies such as Hyundai and Kia have witnessed significant decline in sales. Automobile manufacturing also decreased due to labour strikes, increasing preferences for high mileage small cars along with the growing competition resulting from Korea EU-FTA. Exports of automobiles had decreased by 2.6 % in 2014.
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Target buyers of South Korea automotive lubricants market databook
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Our clientele includes a mix of automotive lubricants market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea automotive lubricants market , including forecasts for subscribers. This country databook contains high-level insights into South Korea automotive lubricants market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea automotive lubricants market size, by product, 2018-2030 (US$M)
South Korea Automotive Lubricants Market Outlook Share, 2022 & 2030 (US$M)
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