South Korea Automotive Lubricants Market Size & Outlook

The automotive lubricants market in South Korea is expected to reach a projected revenue of US$ 4,091.3 million by 2030. A compound annual growth rate of 3.4% is expected of South Korea automotive lubricants market from 2023 to 2030.
Revenue, 2022 (US$M)
$3,127.2
Forecast, 2030 (US$M)
$4,091.3
CAGR, 2023 - 2030
3.4%
Report Coverage
South Korea

South Korea automotive lubricants market, 2018-2030 (US$M)

South

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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 2022USD 3,127.2 million
Market revenue in 2030USD 4,091.3 million
Growth rate3.4% (CAGR from 2022 to 2030)
Largest segmentEngine oil
Fastest growing segmentBrake Fluids
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationGreases, Engine oil, Gear oil, Transmission Fluids, Brake Fluids, Coolants
Key market players worldwideExxon 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 segmentation & scope
Gas turbine oils
Piston engine oils
Hydraulic fluids
Others
Process Oils
General Industrial Oils
Metalworking Fluids
Industrial Engine Oils
Greases
Engine oil
Hydraulic oil
Gear oil
Turbine oil
Transmission Fluids
Brake Fluids
Coolants

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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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)

South Korea automotive lubricants market size, by product, 2018-2030 (US$M)

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