South Korea Passenger Vehicles Lubricants Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Engine Oils, Greases, Hydraulic Fluids, Transmission and Gear Oils), and South Korea Passenger Vehicles Lubricants Market Insights, Industry Trend, Forecasts to 2035

South Korea Passenger Vehicles Lubricants Market Insights Forecasts to 2035

• The South Korea Passenger Vehicles Lubricants Market Size was Estimated at USD 1.2 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.90% from 2025 to 2035
• The South Korea Passenger Vehicles Lubricants Market Size is Expected to Reach USD 2.5 Billion by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Passenger Vehicles Lubricants Market Size is anticipated to reach USD 2.5 Billion by 2035, growing at a CAGR of 6.90% from 2025 to 2035. Some of the main factors propelling the market are the rising number of vehicle ownerships, the growing demand for environmentally friendly vehicle solutions, and the growing awareness among vehicle owners of the significance of routine vehicle maintenance.

Market Overview

The industry that produces, distributes, and uses lubricants made especially for passenger cars is known as the South Korea passenger vehicles lubricants market. These lubricants are necessary to lower friction, improve engine performance, and prolong the life of car parts. Additionally, opportunities for creative packaging designs are created by the growing demand for tamper-evident and convenient packaging. Better product tracking is made possible by the creation of smart packaging with QR codes and authentication features, which also improves consumer convenience and fights counterfeiting. Furthermore, the growing emphasis on lowering emissions and enhancing boost economy opens doors for bio-based substitutes and sophisticated synthetic lubricants, fostering technological advancement and market growth.

Report Coverage

This research report categorizes the market for the South Korea passenger vehicles lubricants market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea passenger vehicles 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 South Korea passenger vehicles lubricants market.

Driving Factors

The high-performance products that satisfy strict OEM requirements and support the trend toward fuel-efficient engines and longer service intervals are made possible by South Korea's thriving automotive manufacturing sector, rising domestic vehicle sales, and rising consumer preference for premium vehicles. Moreover, the need for complex lubricant formulations is fueled by the quick uptake of hybrid powertrains and advanced engine technologies. Modern engines' growing complexity, along with demands for lower emissions and increased fuel economy, spurs lubricant innovation and the expansion of premium product segments.

Restraining Factors

There is fierce price competition and pressure on margins due to the large number of domestic and foreign manufacturers. Significant investment in R&D and marketing projects is necessary to differentiate products through innovation and service quality while preserving cost competitiveness.

Market Segmentation

The South Korea Passenger Vehicles Lubricants Market share is classified into product type.

• The engine oils segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea passenger vehicles lubricants market is segmented by product type into engine oils, greases, hydraulic fluids, and transmission and gear oils. Among these, the engine oils segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Since engine oils are used in high-temperature and high-pressure applications, they have higher volume requirements and shorter drain intervals, making them the most popular product type.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea passenger vehicles 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

• AMSOIL Inc.
• BP PLC (Castrol)
• ExxonMobil Corporation
• GS Caltex
• MICHANG OIL IND CO. LTD
• Others

Recent Developments:

• In September 2022, Renault Samsung Motors introduced Castrol synthetic motor oil, designed specifically for Renault engines, and offered it at a discounted price at 439 after-sales service (AS) locations nationwide.

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 South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Passenger Vehicles Lubricants Market based on the below-mentioned segments:

South Korea Passenger Vehicles Lubricants Market, By Product Type

• Engine Oils
• Greases
• Hydraulic Fluids
• Transmission and Gear Oils