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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Colombia Automotive Lubricants Market Trends
Government investments in infrastructure projects, particularly in transportation networks, stimulate demand for automobiles. For instance, by August 2026, the Colombian government aims to invest around USD 24.9 billion in its transport infrastructure to boost economic development. This includes investment in the country’s rail, port, river, and road infrastructure including the construction of 15 highway projects. As the road network is improved, consumers will invest in passenger and commercial vehicles to transport passengers and goods. This can shape the Colombia automotive lubricants market outlook positively.
Stringent environmental regulations concerning emissions and fuel efficiency in Colombia present a significant opportunity for the market. For instance, Colombia aims to reduce its greenhouse gas emissions by 51% by 2030 and achieve net zero by 2050. As vehicle manufacturers strive to meet these regulations, there is a growing demand for high-quality synthetic and bio-lubricants that can improve engine performance, enhance fuel efficiency, and reduce emissions.
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