The LATAM Automotive Lubricants Market is to Touch $7.7 Billion by 2030; advancements in lubricant formulations and the rising demand for fuel-efficient vehicles propels market growth.

The LATAM Automotive Lubricants Market size is estimated to reach $7.7 billion by 2030, growing at a CAGR of 2.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “LATAM Automotive Lubricants Market – By Product (Engine Oil, Gear and Brake Oil, Transmission Fluids, Greases, Others), By Base Oil (Mineral Oil, Synthetic Lubricants, Semi-Synthetic Lubricants, Bio-based Lubricants, Others), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Medium and Heavy-Duty Vehicles), By Country - Opportunity Analysis & Industry Forecast, 2024-2030”

Growing vehicle ownership rates and the increasing adoption of synthetic lubricants are fueling the growth of the LATAM Automotive Lubricants industry during the forecast period.

Brazil led the LATAM automotive lubricants market, accounting for over 40% of the market share during the forecast period. The country's automotive industry is poised for robust growth, fueled by large-scale construction projects and overall economic expansion. Vehicle production in Brazil rose by 5.1% in 2023, reflecting this positive trend. Additionally, Brazil is a major oil producer, with an average daily crude output of 3.02 million barrels in 2022, according to the International Association of Oil & Gas Producers (IOGP). This substantial oil production supports the availability of base oils, strengthening the country’s position in the regional automotive lubricants market. 

The rising global demand for vehicles directly impacts the growth of the automotive accessory industries, including the automotive lubricants market. As individuals seek personalized transportation options and experience higher disposable incomes, car sales have surged in numerous regions. To meet both domestic and international demand, Original Equipment Manufacturers (OEMs) are expanding production capacity. OEMs strongly recommend using high-quality lubricants to optimize vehicle performance, ensuring engines run efficiently with specified automotive lubricants. This trend is particularly evident in LATAM, where the increasing need for transportation has led to a corresponding rise in vehicle production. As vehicle ownership and production continue to grow, the demand for premium automotive lubricants is expected to drive the LATAM automotive lubricants market forward during the forecast period.

Growing consumer awareness regarding the importance of regular vehicle maintenance is a significant driver in the LATAM automotive lubricants market. As more consumers recognize the benefits of routine servicing, including the use of high-grade lubricants, the demand for automotive lubricants has increased. Regular use of quality lubricants reduces engine wear, enhances fuel efficiency, and extends the lifespan of vehicles. With OEMs and aftermarket service providers emphasizing the use of certified lubricants for optimal performance, car owners are prioritizing proper lubrication to maintain their vehicles. This rising awareness is particularly strong in urban areas, where vehicle longevity and performance are key considerations for both individual owners and fleet operators, fueling market growth across LATAM.