United Kingdom Lubricants Market Size, Share, and COVID-19 Impact Analysis, By Base Oil (Mineral Oil, Synthetic Oil, and Biodegradable Oil), By Application (Automotive & Transportation, Industrial, Marine, and Aerospace), and United Kingdom Lubricants Market Insights, Industry Trend, Forecasts to 2033

United Kingdom Lubricants Market Insights Forecasts to 2033

• The U.K. Lubricants Market Size was valued at USD 2.75 Billion in 2023.
• The U.K. Lubricants Market is growing at a CAGR of 3.18% from 2023 to 2033
• The U.K. Lubricants Market Size is expected to reach USD 3.76 Billion by 2033

The United Kingdom Lubricants Market is anticipated to exceed USD 3.76 Billion by 2033, growing at a CAGR of 3.18% from 2023 to 2033. The growing emphasis on sustainability, preference towards synthetic lubricants, and increasing construction activity are driving the growth of the lubricants market in the UK.     

Market Overview

The lubricants market refers to the production, distribution, and sale of lubrication oils and greases that are essential for reducing friction, heat, and wear in machinery and equipment in diverse sectors, including automotive, industrial, and marine. Lubricants are substances used to reduce friction and wear between moving surfaces and are essential for the smooth and efficient operation of machinery and vehicles. They are ultimately required for improving the power output and fuel economy. There is an increasing need for synthetic lubricants that offer superior physical and chemical attributes as well as an increasing development of synthetic and semi-synthetic lubricants for improved performance and better temperature stability with longer shelf life. The demand for automotive lubricants including engine oils, transmission fluids, and greases, is increasing owing to the increasing vehicle ownership and production. Marine, agriculture, and forestry are some of the industries that are sensitive to environmental impact, thus prioritizing environmentally friendly lubricant products, thereby driving the demand for biodegradable lubricants. The momentum towards biodegradable products and commitment to sustainability is expected to drive bio-based lubricants demand, thereby escalating market opportunities.

Report Coverage

This research report categorizes the market for the UK lubricants market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom lubricants market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the UK lubricants market.

Driving Factors

The growing emphasis on sustainability and environmental protection with the increasing regulatory compliance guidelines, consumer awareness about environmental issues, and oil price volatility leads to drive the preference for environmentally acceptable lubricants, thereby driving the lubricants market. The increased use of synthetic lubricants for enhancing the efficiency of the equipment due to their oxygen resistance, thermal stability, and viscosity stability is propelling the lubricant market growth. The growing automation in the construction equipment and technology leads to a rising need for lubrication for efficient and proper work of equipment, driving market demand for lubricants.

 Restraining Factors

The fluctuation in the price of raw materials like crude oil is responsible for hampering the lubricant market as the majority of lubricants products are mineral oil based. Further, the market competition with the unorganized and fragmented manufacturers may restrain the market growth.

Market Segmentation

The United Kingdom lubricants market share is classified into base oil and application. 

• The mineral oil segment dominates the market with the largest market share and is expected to grow at a significant CAGR during the projected period.

The United Kingdom lubricants market is segmented by base oil into mineral oil, synthetic oil, and biodegradable oil. Among these, the mineral oil segment dominates the market with the largest market share and is expected to grow at a significant CAGR during the projected period. Mineral oil is used as a food-grade lubricant in food processing machinery and agricultural machinery. Further, it is used for preventing metals from overheating during cutting operations. The high standards of performance and environmental responsibility of mineral oil are propelling the market demand.

• The automotive & transportation segment accounted for the largest market share and is expected to grow at a significant CAGR during the projected period.

The United Kingdom lubricants market is segmented by application into automotive & transportation, industrial, marine, and aerospace. Among these, the automotive & transportation segment accounted for the largest market share and is expected to grow at a significant CAGR during the projected period. Lubricants are used in engines, transmissions, differentials, and steering mechanisms in the automotive & transportation sectors. Gear oil, transmission fluid, and hydraulic fluid are some of the essential lubricants used for the smooth operation of vehicle components. The rising sales of consumer automobiles, including heavy-duty trucks and construction automotive, is propelling the market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. lubricants market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BP Plc (Castrol)
• Chevron Corporation
• Exol Lubricants Limited
• ExxonMobil Corporation
• FUCHS
• Morris Lubricants
• Petronas Lubricants International
• Q8Oils
• Royal Dutch Shell Plc
• TotalEnergies
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at U.K., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Lubricants Market based on the below-mentioned segments:

UK Lubricants Market, By Base Oil

• Mineral Oil
• Synthetic Oil
• Biodegradable Oil

UK Lubricants Market, By Application

• Automotive & Transportation
• Industrial
• Marine
• Aerospace