With an Estimated CAGR of 4.8%, the Vietnam Lubricants Market to Reach 423.38 Million Liters by 2030

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Vietnam Lubricants Market Overview, Trends, Size and Forecast: 2025-2030

The Vietnam Lubricants Market size was valued at around 319.57 million liters in 2024 and is expected to reach 423.38 million liters by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.80% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The market growth is driven by several growth factors, including the high density of motor vehicles in the country, especially motorcycles, the infrastructural development of manufacturing & industrial sectors, the rapid shift towards greener & sustainable products, etc. One of the major growth factors is the rising e-commerce penetration in the country, which has raised the demand for automotive vehicles readily used for logistics, thus increasing the frequency of oil changes in the vehicles.

Additionally, with the rising disposable incomes and rapid urbanization in Vietnam, the fraction of car ownership has significantly increased. This has led to the high demand for lubricants, such as gear oils, engine oils, and others. Also, the robust infrastructure development in the country requires heavy machinery that ultimately increases the demand for a substantial amount of various lubricants for driving those heavy-duty machines. Consequently, these kinds of development programs are providing ample growth opportunities to this market.

Moreover, the rising adoption of green and sustainable products, including green and biodegradable lubricants, in the country is positively transforming the Vietnam Lubricants Industry. This adoption is actively supported by the Vietnamese government through various policies, such as the Environmental Strategy 2030, National Action Plan for Circular Economy, and many more, in which the government aims to encourage manufacturers to produce biodegradable products, including lubricants. These strategic efforts are uplifting the lubricants market in Vietnam. However, the limited oil-based manufacturing and the presence of counterfeit products are hampering the market growth in the country by damaging the customers’ loyalty and brand reputation, further states the research report, “Vietnam Lubricants Market Analysis, 2025.”

Vietnam Lubricants Market Segmentation Insights:

Indirect Sales is the Most Preferred Distribution Channel

Based on the distribution channel, the market is further segmented into direct sales and indirect sales. Out of these, the indirect sales are the dominating segment, which holds the largest market share of about 80%. The dominance is due to the well-expanded distribution infrastructure for products like lubricants for many industries, like automotive, industrial, mining, marine, etc., in the country. These distributors work as smooth & efficient intermediaries between the manufacturers and the end-users. For example, many companies like Castrol BP, Shell Pc, Petrolimex, etc. have hundreds of dealers and local distributors for lubricant supply across Vietnam.

Additionally, they provide cost-effective solutions, as they already have existing infrastructure and wholesale retail services. Also, the distributors have strategically positioned themselves near the industrial zones in provinces, such as Bac Ninh, Binh Duong, Dong Nai, and others, which are supporting the national supply chains of lubricants smoothly in the country; thus, they are the most preferred distribution channels in this market.

Automotive Lubricants Generating Massive Market Demand

The automotive lubricants are leading the industry with a market share of around 70%. The segment is leading due to the high dependence of the Vietnamese on motor vehicles, especially motorbikes, for daily commutation. The country has registered millions of bikes in recent years, which is increasing the demand for automotive lubricants. Also, the high disposable incomes and rapid urbanization encouraged the Vietnamese citizens to own cars, which further raised the demand for different lubricants, such as gear oils, transmission fluids, and various other lubricants.

Additionally, the rising culture of e-commerce increases the logistics department and transportation services in the country, which is significantly raising the demand for automotive lubricants. Moreover, the hot and humid climatic conditions are leading to frequent oil changes, thus contributing to the dominance of the automotive lubricants among other product types offered in this market.

Top Companies in the Vietnam Lubricants Market

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading Vietnam Lubricants Market companies, including Castrol BP Petco Ltd., Petrolimex Petrochemical Corporation (PLC), Motul Vietnam Co., Ltd., Chevron Lubricants Vietnam Ltd (Caltex), Shell Vietnam Ltd., TotalEnergies Marketing Vietnam Limited, Mekong Petrochemical JSC, JX Nippon Oil & Energy Vietnam, Idemitsu, Sinopec, and others are looking forward to increase their market size & share.

Key Questions Answered in the Research Report

1. What is the scope, size, value, and forecast of the Vietnam Lubricants Market?
2. What is the volume and share of each segment in the Vietnam Lubricants Market?
3. What are the key trends shaping the Vietnam Lubricants Market from 2025 to 2030?
4. What growth factors and risks impact the Vietnam Lubricants Market?
5. What are the main challenges faced by players in the Vietnam Lubricants Market?
6. What are the top opportunities in the Vietnam Lubricants Market?
7. What does competitive analysis reveal about the Vietnam Lubricants Market landscape?
8. Who are the key players and companies leading the Vietnam Lubricants Market?
9. What innovations are transforming the future dynamics of the Vietnam Lubricants Market?
10. How are partnerships and collaborations driving the Vietnam Lubricants Market growth?
11. How does the Vietnam Lubricants Market differ based on geography and segments?