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.
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The US, Canada, and Mexico are major economies in North America. The North America automotive sector has witnessed tremendous growth in the last decade and is expected to rise steadily during the forecast period. The COVID-19 pandemic significantly impacted the sector's growth in 2020 and 2021 due to several factors, such as nationwide lockdowns and a decline in investments. However, the industry is expected to gradually gain its pre-COVID growth rate by FY 2022–2023.
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
by Country
US
Canada
Mexico
Companies Mentioned
BP plc
Chevron Corporation
China Petrochemical Corporation (Sinopec)
Exxon Mobil Corporation
Fuchs
Lukoil
Royal Dutch shell plc
Total
Valvoline LLC
Strategic Analysis of the North America Lubricants Market
The COVID-19 pandemic significantly disrupted the automotive sector, but recovery emerged in 2021 through eased travel restrictions, revived transportation demand, and widespread vaccination efforts. These factors, combined with rising disposable incomes, population growth, and accessible financing, spurred automobile sales. This rebound directly increased lubricant consumption, as vehicle production and maintenance require consistent lubricant use. Notably, investments in electric vehicles (EVs) are further propelling the market, driven by specialized lubricant needs for EV components like batteries and electric motors.
Regional Dynamics: Challenges and Recovery
The U.S., despite being the hardest-hit by COVID-19, saw nearly 60% of its population fully vaccinated by November 2021, easing industrial constraints. In Canada, a 25% surge in auto sales during the first seven months of 2021 signals robust sectoral recovery. These trends, alongside broader industrial growth, position North America’s lubricants market for steady expansion.
Strategic Insights for Market Leadership
Data-Driven Opportunities: Leverage analytics to identify underserved segments, such as high-performance or bio-based lubricants, and craft tailored value propositions.
Innovation in EV Solutions: Capitalize on EV investments by developing advanced lubricants that meet evolving technical requirements, differentiating from competitors.
Regional Agility: Address disparities in regional recovery rates; focus on areas with strong automotive resurgence while monitoring supply chain shifts.
Future-Proofing: Anticipate regulatory and consumer trends, such as sustainability demands, to align R&D and marketing strategies proactively.
Outlook
The North America lubricants market is poised for robust growth, driven by automotive recovery, industrial expansion, and EV innovation. Companies that integrate data insights, target emerging niches, and prioritize adaptability will lead this dynamic landscape. With a projected strong CAGR, stakeholders must act strategically to harness opportunities in this evolving market.
This analysis equips industry players—manufacturers, investors, and distributors—to make informed decisions, ensuring competitiveness and long-term success in North America’s revitalized lubricants sector.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights