The Vietnam automotive engine oils market is projected to grow at a CAGR of 6.90% between 2025 and 2034.
Base Year
Historical Year
Forecast Year
As per the industry reports, the total vehicle sales in Vietnam witnessed a growth of 2 per cent in April 2024 compared to the previous year, fuelling the growth of engine oils.
In Vietnam, there was a sale of around 404,294 vehicles in 2023, which maintained a steady demand for engine oils.
The emergence of low-viscosity oils due to their ability to reduce friction and enhance fuel efficiency is one of the crucial market trends.
Value in USD Million
2025-2034
Vietnam Automotive Engine Oils Market Outlook
*this image is indicative*
Growing vehicle ownership in Vietnam, expansion of the automotive sector and its production capacities in the country, and innovations in engine oil technology are some of the crucial market trends which significantly contribute to the growth of the Vietnam automotive engine oils market. The market is driven by advancements in engine oil technology, which include the development of synthetic and semi-synthetic oils. These innovations offer improved engine protection, efficiency, and performance, meeting the demands of consumers who seek high-end products for their vehicles.
The competitive landscape in the country is also changing as the competition increases with the presence of newer domestic as well as international market players. Manufacturers are placing a greater emphasis on the production of eco-friendly engine oils as they are designed to minimise emissions and adhere to strict environmental laws and regulations, meeting the rising demand for sustainability in the automotive sector. Moreover, the adoption of advanced technologies in vehicles necessitates high-performance engine oils that can meet specific performance criteria and enhance the efficiency of engines that are expected to influence the automotive engine oils demand.
Rise in the popularity of synthetic lubricants, advancements in product formulations as well as a growing shift towards the incorporation of sustainable alternatives is boosting the Vietnam automotive engine oils market value.
Synthetic oils are rapidly gaining popularity in Vietnam. These oils are thinner in consistency and thus reduce friction. This offers a big advantage over conventional engine oils which is providing a better fuel economy. Additionally, they also aid in improving overall engine protection. They are also better for colder temperatures during the winter months, thus boosting the automotive engine oils demand growth.
Oil change intervals have evolved from 3,000-mile recommendations in the 1970s to as much as 20,000 miles for modern vehicles. This is because of the improved base oil refining processes, synthetic oils, lubricant additives, and modern diagnostic systems. These advancements have led to reduced maintenance costs. Moreover, these formulations also include anti-wear agents, friction modifiers, antioxidants, and additives that protect metal surfaces within the engine from corrosion and rust.
Individuals and businesses across the globe are actively working to help protect ecosystems, reduce pollution, and promote sustainability by using biodegradable engine oils. These biodegradable engine oils appear to be a promising approach for reducing the environmental impact caused by lubricants, while also maintaining engine performance and efficiency. These eco-friendly oils are made from renewable resources and are designed in a way that they degrade quickly.
As consumer spending patterns change due to the rising income levels and their lifestyles become more affluent, they start to shift towards products that bring convenience. Hence, there is a growing preference for premium and high-quality engine oil in the country. This is because the end-users desire better performance from their automotive along with a longer engine life, and improved fuel efficiency.
“Vietnam Automotive Engine Oils Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Market Breakup by Vehicle Type:
Market Breakup by Engine Type:
Market Breakup by Region:
Based on vehicle type, the market is divided into passenger vehicles, motorcycles, and commercial vehicles. Passenger vehicles account for a major market share due to rapid urbanisation in Vietnam which has resulted in an increase in car ownership. Moreover, government funding for better road infrastructure and urban development is making car ownership more feasible and appealing among customers as better roads and transportation systems enable the smoother driving of passenger vehicles.
The market participants are developing advanced engine oils to gain a competitive edge in the market.
*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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The market is estimated to grow at a CAGR of 6.90% between 2025 and 2034.
The market is being driven due to growing vehicle ownership in Vietnam, expansion of the automotive sector and its production capacities in the country, and innovations in engine oil technology.
The key trends aiding the market include greater emphasis on the production of eco-friendly engine oils and the adoption of advanced technologies in vehicles which necessitates high-performance engine oils.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on type, market segmentations include mineral, semi-synthetic, and fully synthetic.
Different engine types are gasoline, diesel, and alternative fuel.
The major players in the market are Shell Plc, TotalEnergies SE, Exxon Mobil Corp., Motul S.A, Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Ap Saigon Petro JSC, Mekong Petrochemical JSC, and Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam), among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Vehicle Type |
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| Breakup by Engine Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
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
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