The lubricants market in North America is expected to grow from US$ 34.47 billion in 2021 to US$ 40.03 billion by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028.
The North America Lubricants Market: Growth Drivers and Post-Pandemic Recovery
The United States, Canada, and Mexico are the major economies driving North America’s automotive sector, which has experienced significant growth over the past decade and is projected to continue expanding steadily in the coming years. The COVID-19 pandemic disrupted this growth in 2020 and 2021 due to nationwide lockdowns, reduced investments, and supply chain challenges. However, with the easing of restrictions, the resumption of transportation activities, and widespread vaccination programs in 2021, the automotive industry began recovering. By FY 2022–2023, the sector is expected to return to pre-pandemic growth levels.
Key Factors Boosting Automotive and Lubricant Demand
- Rising Automobile Sales: Increasing population, higher disposable incomes, and easier access to credit and financing have driven vehicle purchases, subsequently increasing lubricant consumption.
- Investments in Manufacturing: Automotive companies are ramping up production through heavy investments, further stimulating demand for lubricants.
- Growth of Electric Vehicles (EVs): The surge in EV adoption is creating new opportunities for specialized lubricants, contributing to market expansion.
Pandemic Impact and Recovery
The U.S., with the highest number of COVID-19 cases in the region, faced significant disruptions in production and industrial activity. However, by November 2021, around 60% of the U.S. population was fully vaccinated, aiding economic recovery. Other North American markets also rebounded strongly—for example, Canada reported a 25% increase in auto sales in the first seven months of 2021.
Future Outlook
As industries recover, the demand for lubricants is expected to rise, supported by advancements in automotive technologies and industrial growth. Manufacturers are leveraging innovation to attract customers and expand into emerging markets, further driving the lubricants sector. With these trends, the North America Lubricants Market is projected to grow at a robust compound annual growth rate (CAGR) in the forecast period.
North America Lubricants Market Segmentation
North America Lubricants Market – By Base Oil
- Mineral Oil
- Synthetic
- Bio-Based Lubricants
- Others
North America Lubricants Market – By
Product Type
- Engine Oil
- Hydraulic Oil
- Gear Oil
- Grease
- Compressor Oil
- Others
North America Lubricants Market – By End Use
- Oil and Gas
- Industrial
- Chemical
- Automotive
- Marine
- Others
North America Lubricants Market, by Country
- US
- Canada
- Mexico
North America Lubricants Market – Companies Mentioned
- BP plc
- Chevron Corporation
- China Petrochemical Corporation (Sinopec)
- Exxon Mobil Corporation
- Fuchs
- Lukoil
- Royal Dutch shell plc
- Total
- Valvoline LLC
North America Lubricants Market Strategic Insights
Strategic insights for the North America Lubricants Market provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the North America Lubricants Market.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
