The lubricants market in SAM is expected to grow from US$ 14.79 billion in 2021 to US$ 16.41 billion by 2028; it is estimated to grow at a CAGR of 1.5% from 2021 to 2028.
Lubricant is one of the key components used in the industrial sector, which helps keep the equipment running at peak efficiency and with maximum reliability. There are numerous types of lubricants such as mineral and synthetic lubricants, greases, compressor oils, and cutting fluids used across vertical applications in the industrial sector. It is used in various industries, such as automotive, oil & gas, textile, glass, power generation, paper & pulp, chemicals and petrochemicals, agriculture, manufacturing, food and beverages, pharmaceuticals, and several others. The extensive application of lubricants in various industries and the rapid growth in the industrial sector are the key factors driving the lubricants market. Significant investment prospects and restructured business models in post-pandemic scenarios are the main factors that augment the consumption of lubricants, driving the market growth.
Brazil reported the highest number of COVID-19 cases in SAM, followed by Argentina, Peru, Chile, and Ecuador. Governments in SAM have taken an array of actions to protect their citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. These measures have negatively reflected the SAM lubricants market due to considerable disruptions in sourcing raw materials from suppliers and temporary closures of the manufacturing base, caused by indefinite lockdowns and temporary quarantines. However, with recovering industries, the demand for lubricants is expected to increase in the region over the next couple of years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM lubricants market. The SAM lubricants market is expected to grow at a good CAGR during the forecast period.
SAM LubricantsMarket Revenue and Forecast to 2028 (US$ Billion)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
SAM Lubricants Market Segmentation
SAM Lubricants Market – By Base Oil
- Mineral Oil
- Synthetic
- Bio-Based Lubricants
- Others
SAM Lubricants Market – By Product Type
- Engine Oil
- Hydraulic Oil
- Gear Oil
- Grease
- Compressor Oil
- Others
SAM Lubricants Market – By End Use
- Oil and Gas
- Industrial
- Chemical
- Automotive
- Marine
- Others
SAM Lubricants Market, by Country
- Brazil
- Argentina
- Rest of SAM
SAM Lubricants Market - Companies Mentioned
- BP plc
- Chevron Corporation
- China Petrochemical Corporation (Sinopec)
- Exxon Mobil Corporation
- Fuchs
- Royal Dutch shell plc
- Total
- Valvoline LL
South America Lubricants Report Scope
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 14.79 Billion |
Market Size by 2028 | US$ 16.41 Billion |
Global CAGR (2021 - 2028) | 1.5% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Base Oil
|
Regions and Countries Covered | South and Central America
|
Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- BP plc
- Chevron Corporation
- China Petrochemical Corporation (Sinopec)
- Exxon Mobil Corporation
- Fuchs
- Royal Dutch shell plc
- Total
- Valvoline LLC


