Vietnam Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025

Description

The Vietnam Lubricants Market size is estimated at 324.57 million liters in 2025, and is expected to reach 420.19 million liters by 2030, at a CAGR of 5.3% during the forecast period (2025-2030).

Key Highlights

Largest Segment by End-user Industry - Automotive : Due to the huge volume of lubricants used in motor vehicles compared to any other industrial application, automotive was the largest end user among all categories.
Fastest Segment by End-user Industry - Power Generation : Due to the increasing use of natural gas reactors and wind turbines for energy generation, power generation is projected to be the fastest-growing end user in Vietnam.
Largest Segment by Product Type - Engine Oils : Engine oil is the most consumed product type in Vietnam due to the high volumes of engine oil with high replacement frequencies required to lubricate IC engines.
Fastest Segment by Product Type - Hydraulic Fluids : The expected growth in the construction, mining, steel, marine, and aviation sectors is expected to support the hydraulic fluid consumption in the coming years in Vietnam.

Vietnam Lubricants Market Trends

Largest Segment By End User : Automotive

In 2020, the Vietnamese lubricant market was dominated by the automotive industry, which accounted for around 81% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 41%.
In 2020, COVID-19-related restrictions led to decreased maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 4.9%, followed by heavy equipment (4.4%) during the year.
Power generation is expected to be the fastest-growing end-user industry of the market studied, recording a CAGR of 8.35% during 2021-2026, followed by automotive (4.48%). The increasing power generation capacity (especially renewables) in the country is anticipated to drive lubricant consumption in the coming years.

Vietnam Lubricants Industry Overview

The Vietnam Lubricants Market is fairly consolidated, with the top five companies occupying 65.03%. The major players in this market are BP Plc (Castrol), MEKONG PETROCHEMICAL JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Product Code: 90315

1 Executive Summary & Key Findings

2 Introduction

2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology

3 Key Industry Trends

3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis

4 Market Segmentation

4.1 By End User
- 4.1.1 Automotive
- 4.1.2 Heavy Equipment
- 4.1.3 Metallurgy & Metalworking
- 4.1.4 Power Generation
- 4.1.5 Other End-user Industries
4.2 By Product Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Metalworking Fluids
- 4.2.5 Transmission & Gear Oils
- 4.2.6 Other Product Types

5 Competitive Landscape

5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
- 5.3.1 AP SAIGON PETRO JSC
- 5.3.2 BP Plc (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 MEKONG PETROCHEMICAL JSC
- 5.3.5 Motul
- 5.3.6 NIKKO LUBRICANT VIETNAM
- 5.3.7 Petrolimex (PLX)
- 5.3.8 PVOIL
- 5.3.9 Royal Dutch Shell Plc
- 5.3.10 TotalEnergies

6 Appendix

6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures

Vietnam Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)