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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Colombia Automotive Lubricants Market Growth
Colombia is a significant automobile manufacturer, exporting vehicles to around 19 countries. Colombia’s automotive sector is specialised in the production and assembly of vehicles and motorcycles. The growth in demand for automotive lubricants in Colombia is primarily driven by the sales of lightweight vehicles in the country. Lubricants are used in automobiles to lessen wear and friction in the engine, gearbox, and other mechanical systems.
Additionally, low-conductivity coolants are gaining momentum with the rising popularity of electric vehicles, as these coolants improve the energy efficiency and general performance of EVs while also ensuring their safety and lifetime. Moreover, the increasing need for eco-friendly lubricants that are biodegradable and have a reduced environmental impact is influencing Colombia automotive lubricants market development.
Colombia Automotive Lubricants Market Report Snapshots
Colombia Automotive Lubricants Market Size
Colombia Automotive Lubricants Market Growth
Colombia Automotive Lubricants Market Trends
Colombia Automotive Lubricants Market Share
Colombia Automotive Lubricants Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Colombia automotive lubricants market attained a value of USD 574.5 million in 2023.
The market is estimated to grow at a CAGR of 6.9% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 1,510.2 million by 2032.
The factors driving the market growth are increasing vehicle sales, expansion of manufacturing, logistics, and construction sectors, and government's stringent emission standards.
Key trends aiding Colombia automotive lubricants market growth include the increasing adoption of synthetic and semi-synthetic lubricants, the rise of electric vehicles, and the growing emphasis on sustainability and environmentally friendly products.
Engine oil, gear oil, transmission fluids, brake fluids, coolants, and greases are the product types.
The vehicle types include passenger vehicles, commercial vehicles, and motorcycle.
The grades include mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants.
The demand is highest for passenger cars, followed by commercial vehicles and two-wheelers. The growth in passenger car sales has been a significant contributor to the overall market expansion.
The key players in the market include BP PLC (Castrol), Exxon Mobil Corporation, Chevron Corporation, TotalEnergies SE, Repsol, S.A, Shell plc, Motul S.A., Petroliam Nasional Berhad (PETRONAS), and Amsoil Inc, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124