Vietnam Lubricants Market Size & Insights
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. The Vietnam Lubricants Market is significantly growing due to several growth factors, including the high vehicle density, especially the motorbikes across the country, the continuous development of the industrial and manufacturing sector, the rising adoption of green and bio-based lubricants, etc. One of the most prominent growth factors is the rising demand by the automotive industry due to rapid urbanization and transportation. In Vietnam, motorbike and car ownership is substantially rising, which is significantly increasing the demand for lubricants, such as gear oils, engine oils, and others. Additionally, the growing infrastructure development in the country, including logistics, electronics, and textiles, is increasing the use of heavy machinery, which further increases the demand for various lubricants, thus offering ample growth opportunities for the market players to grow significantly.
What are the Key Driver in the Vietnam Lubricants Market??
Rising Motorcycle Density in Vietnam – The market growth is driven by the rising motorbike registration in Vietnam, which is significantly increasing the demand for lubricants. For instance, about 60 million bikes have been registered in the country, for a population of about 100 million people, as of 2025. This is leading to frequent maintenance of these motorbikes, including frequent oil refills for their smooth running.
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What are the Key Segments in the Vietnam Lubricants Market?
The Vietnam Lubricants is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Product Type
- Automotive Lubricants
- Engine Oils
- Transmission Fluids
- Gear Oils
- Greases
- Industrial Lubricants
- Hydraulic Fluids
- Metalworking Fluids
- Industrial Gear Oils
- Compressor Oils
- Marine Lubricants
- Others (Turbine Oils, Specialty Lubricants)
Between the two, the automotive lubricants hold the largest market share of about 70%.
By Distribution Channel
- Direct Sales
- Indirect Sales
- Distributors/Dealers
- Online Retail
- Service Stations
- Supermarkets & Hypermarkets
Among these, the indirect sales hold the largest market share of about 80%.
By End-User
- Automotive
- Passenger Vehicles
- Commercial Vehicles
- Two-Wheelers
- Off-Highway Vehicles
- Industrial– Market Size & Forecast 2025–2030, USD Million
- Manufacturing
- Power Generation
- Mining
- Marine
- Others
How does geographical analysis highlight in the Vietnam Lubricants market?
By Region
- Northern
- Central
- Southeast
- Mekong Delta.
Who are the Key Players in Vietnam Lubricants Market?
- 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
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Vietnam Lubricants Market News
- 2025: TotalEnergies started a partnership with Cao Gia Quy Environment to recycle used engine oil in Vietnam. This step supports the country’s new EPR (Extended Producer Responsibility) rule, which requires oil companies to recycle at least 15% of their used products. The aim is to protect the environment and promote responsible oil use and disposal across Vietnam.
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