Japan Lubricants Market Report and Forecast 2025-2034

Japan Lubricants Market Outlook

The Japan lubricants market size is estimated to grow at a CAGR of 2.3% in the forecast period of 2024-2032. The market is being aided by the growing demand for lubricants in the automotive sector and the development of bio-based lubricants.

Key Trends in the Market

Lubricant is a substance which is primarily utilised to reduce the friction between two surfaces when they are in contact or proximity. It can also reduce the wear and tear of components and dissipate the heat produced.

• The growing demand for EV lubricants, due to the rising adoption of electric vehicles in Japan, is one of the crucial Japan lubricants market trends. These lubricants can reduce friction, noise, and vibration in seals, gearboxes, and car battery coolants to improve the longevity and operation of an EV.

• The rising popularity of bio-based lubricants such as vegetable oils and synthetic esters, which are biodegradable in nature and do not contribute to pollution, is another significant trend aiding the market expansion.

• The Japan lubricants market growth is also being driven by increased development of advanced lubricants that can withstand high pressure and temperature and are formulated to meet the unique requirements of the automotive and metallurgy, among other sectors.

• Market players are readily launching innovative lubricants that offer a unified solution for the automotive sector. For example, in June 2023, Idemitsu Kosan, a Japan-based petroleum company, developed a cooling oil, which offers a unified cooling solution for batteries, e-axle and other electric parts of electric and hybrid vehicles.

Japan Lubricants Market Segmentation

Based on product type, the market is divided into engine oils, hydraulic fluids, greases, metalworking fluids, and transmission and gear oils, among others. The market, on the basis of base oil, is segmented into mineral oil lubricants, bio-based lubricants, and synthetic lubricants. Based on end use, the market is classified into automotive, heavy equipment, metallurgy and metalworking, power generation, and chemical, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Japan lubricants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• BP plc

• FUCHS SE 

• Shell PLC

• Exxon Mobil Corp.

• ENEOS Corp.

• Cosmo Energy Holdings Co. Ltd.

• Idemitsu Kosan Co., Ltd.

• Yushiro Chemical Industry Co., Ltd.

• Japan Sun Oil Company Ltd.

• Mitasu Oil Corporation

• Others

Market Share by Product Type

Engine oils constitute a significant portion of the Japan lubricants market share, owing to their high usage in internal combustion engines (ICEs) for reducing wear and tear on moving parts. They also prevent the engine from corrosion and rust and facilitate the smooth operation of the vehicle.

Moreover, engine oils prevent the formation of sludge on engine blocks that could lead to engine damage over time, ensuring the longevity of the engines. T the function of engine oil as a sealant to maintain leaks also offers impetus to the segment’s growth.

Market Share by End Use

As per the Japan lubricants market analysis, the automotive sector accounts for a substantial market share, due to the rising usage of oils for reducing friction and providing heat dissipation to ICEs. Growing utilisation of greases to prevent any premature wear and tear of automotive parts also provides lucrative opportunities for market growth.

Furthermore, factors such as the implementation of brake fluids in brake systems to keep them in good condition as well as the development of eco-friendly lubricants offer a positive market outlook.

Competitive Landscape

BP plc, established in 1909, is a multinational oil and gas corporation, headquartered in London, the United Kingdom. Some of its primary products in the Japanese market include engine oil, gear oil, brake fluid, and automatic transmission fluid, among others. The company offers its industrial oils and lubricant solutions in the sectors of aerospace, automobile manufacturing, iron and steel, and mining, among others.

FUCHS SE is a global lubricants and speciality products company, founded in 1931 and based in Mannheim, Germany. Some of its popular lubricant brands include Agrifarm, Anticorit, Carbaflo, MolyPaul, and Silkolene, among others. This company has a range of over 10,000 products and services in the categories of automotive and industrial lubricants, lubricating greases, and metal processing lubricants, among others.

Shell PLC is a global oil and petrochemical company, incorporated in 1907 and headquartered in London, the United Kingdom. The company aims to become a net-zero emission business by the year 2050. It has recently developed an innovative range of transmission fluids, called Shell EV Plus, for the powertrains of EVs.

Other Japan lubricants market players include Exxon Mobil Corp., ENEOS Corp., Cosmo Energy Holdings Co. Ltd., Idemitsu Kosan Co., Ltd., Yushiro Chemical Industry Co., Ltd., Japan Sun Oil Company Ltd., and Mitasu Oil Corporation, among others.

Key Highlights of the Report