Global Multi Purpose Lubricants Analysis 2025, Forecast To 2034
19 Mar, 2025
What Is The Current and Historic Market Size Analysis Of The Multi Purpose Lubricants Market?
The multi purpose lubricants market has seen considerable growth due to a variety of factors.
• The market for multi-purpose lubricants has seen robust growth over the past few years. The market, which stood at $19.3 billion in 2024, will reach $20.8 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.8%.
The surge in growth during the historical period is linked to the rise in the automotive sector, demand for industrial machinery, an increase in vehicle ownership, heightened maintenance requirements, and the need for improved fuel efficiency.
What are the Market Size and Expected Growth Rates for the Multi Purpose Lubricants Market?
The multi purpose lubricants market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next several years, it is anticipated that the multi purpose lubricants market will witness significant growth, reaching $27.76 billion by 2029 with a compound annual growth rate (CAGR) of 7.5%.
Several factors contribute to this projected increase during the forecast period, including the impact of environmental regulations, the burgeoning demand for eco-friendly products, an expansion in industrial applications, growing consumer knowledge, and a surge in auto manufacturing. The forecast period will also see key trends like a move toward synthetic lubricants, an intensifying focus on environmental sustainability, a rise in ecommerce, advances in packaging, and IoT application for monitoring lubricant usage.
Which Key Drivers Are Propelling The Multi Purpose Lubricants Market's Growth?
The expansion of the automotive sector is projected to fuel the growth of the multi-purpose lubricant industry in the future. The term automotive industry encompasses the sector engaged in creating, developing, manufacturing, and selling motor vehicles. The escalating automotive industry is being propelled by rising consumer demand, technological progress, and increasing global transport requirements. Multi-purpose lubricants are utilized within the automotive industry to decrease friction, prevent damage and shield components like engines, gears, and hinges against rust. For example, a report from Statistics Canada, a Canadian national statistics agency, stated that in June 2024, the total number of registered road motor vehicles in Canada was 26.3 million, a marginal increase of 0.3% from 2021. Consequently, the expanding automotive industry is leading to the growth of the multi-purpose lubricants market.
What Are The Key Segments Within The Global Multi Purpose Lubricants Market?
The multi purpose lubricantsmarket covered in this report is segmented –
1) By Grade: Industrial Grade, Technical Grade, Food Grade, Other Grades
2) By Packaging Type: Aerosol Spray, Squeeze Bottles, Other Packaging Types
3) By End Use Industry: Agriculture, Automotive And Transportation, Sport And Leisure, Construction, Food And Beverages, Metallurgy, Electrical And Electronics, Marine, Other End Use Industries
Subsegments:
1) By Industrial Grade: Heavy-Duty Industrial Lubricants, General-Purpose Industrial Lubricants, High-Temperature Industrial Lubricants, Anti-Wear Industrial Lubricants
2) By Technical Grade: Precision Machinery Lubricants, High-Performance Technical Lubricants, Chemical Processing Lubricants, Greases and Oils For Technical Applications
3) By Food Grade: H1 Registered Food-Grade Lubricants, H2 Registered Food-Grade Lubricants, Food-Grade Greases and Oils, Non-Toxic and Biodegradable Food-Grade Lubricants
4) By Other Grades: Automotive Lubricants, Marine Lubricants, Aerospace Lubricants, Environmental-Friendly Lubricants, Specialty Lubricants For Specific Applications
How Are New Trends Impacting The Size Of The Multi Purpose Lubricants Market?
Key players in the multi purpose lubricants market are concentrating their efforts on the creation of innovative products such as multilub synthetic high-performance grease, geared towards improving efficiency and compliance with changing industry standards. Multilub synthetic high-performance grease is an advanced type of lubricant crafted for exceptional performance and longevity in severe conditions, utilizing synthetic base oils and additives. An example of this occurred in May 2022, when DuPont de Nemours Inc., an American chemical firm, introduced MOLYKOTE multilub synthetic high-performance grease. This newly launched grease outperforms traditional mineral-oil-based greases in terms of performance and durability and continues to work effectively at temperatures as low as -58°F (-50°C), demonstrating its adaptability to different settings. Its versatile nature makes it an appropriate choice for gears, centrifuge pump slides, blending tank agitators, spindles, gearboxes, bushings, actuators, and springs.
Who Are the Key Players In The Multi Purpose Lubricants Market?
Major companies operating in the multi purpose lubricants market are:
• Exxon Mobil Corporation
• Royal Dutch Shell plc
• TotalEnergies SE
• BP p.l.c.
• Chevron Corporation
• Eni S.p.A.
• Indian Oil Corporation Limited
• Idemitsu Kosan Co. Ltd.
• Lukoil Oil Company
• Suncor Energy Inc.
• Phillips 66 Company
• Lubrizol Corporation
• Clariant International Ltd.
• MOL Hungarian Oil and Gas Public Limited Company
• Fuchs Petrolub SE
• Kraton Corporation
• Houghton International Inc.
• Nynas AB
• Valvoline Inc.
• Castrol Limited
• Raven Industries Inc.
• Hunt Refining Company
What Are The Regional Insights Into The Multi Purpose Lubricants Market?
Asia-Pacific was the largest region in the multi purpose lubricants market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the multi purpose lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.