The Vietnam passenger vehicles lubricants market is projected to grow at a CAGR of 5.70% between 2025 and 2034.
Base Year
Historical Year
Forecast Year
As per the industry reports, the passenger car sales of the Vietnam Automobile Manufacturers' Association witnessed a growth of 8.6 per cent in May 2024, offering ample growth opportunities for passenger vehicle lubricants.
As per the data from the Vietnam Automotive Manufacturers Association (VAMA), the total vehicle sales in the country witnessed a growth of 2 per cent in April 2024 compared to the previous year, which increases the demand for lubricants.
As per Vietnam passenger vehicles lubricants industry analysis, the demand for synthetic engine oils is growing in Vietnam as they cause minimal environmental impact compared to conventional engine oils and can enhance engine lifespan.
The growing production of passenger vehicles, the shift in the Vietnamese consumer preference towards eco-efficient lubricants, and the rising demand for high-performance lubricants that enhance the operational efficiency of passenger vehicles are some of the crucial drivers propelling the demand of Vietnam passenger vehicles market. The rapid urbanization is another key factor influencing the growth of the market in the country. Growing urban areas drive up the demand for personal vehicles and, consequently, for automotive lubricants.
The burgeoning popularity of bio-based lubricants is fuelling their demand as they are non-toxic and environmentally friendly in nature and offer similar or better performance to conventional lubricants. Market players are developing lubricants with extended drain intervals to increase the oil change interval as well as the frequency of vehicle maintenance. Furthermore, due to the growing deployment of EVs in the country, there is a surge in EV lubricants which can lubricate gears, bearings, and other moving components in the EVs and hybrid vehicles. This is also positively influencing the Vietnam passenger vehicles lubricants market dynamics and trends.
Growing shift towards synthetic and semi-synthetic lubricants along with increasing technological advancements and expanding e-commerce channels are boosting the Vietnam passenger vehicles lubricants industry revenue.
Synthetic and semi-synthetic oils are outgrowing conventional oils in popularity. These advanced lubricants offer superior engine protection, fuel efficiency, and longevity. Growing consumer awareness of these benefits, coupled with longer oil change intervals, is driving a shift towards synthetic options. The trend is particularly evident and visible in the premium vehicle segment, where higher disposable incomes fuel demand for higher quality products.
As vehicle manufacturers and consumers become more focused on fuel efficiency, there is a growing demand for lubricants that contribute to better fuel economy. Advancements in lubricant formulations are improving vehicle performance attributes such as engine efficiency, protection under extreme conditions, as well as fuel economy. Innovations also include smart lubricants that can monitor their condition and notify users when a change is needed, which plays a key role in contributing to more efficient vehicle maintenance. Additionally, the rise of electric and hybrid vehicles is also impacting lubricant formulations. Although these vehicles generally require less lubrication, the development of specialized lubricants for these types of engines is expected to boom.
The rapid rise of e-commerce is positively impacting Vietnam passenger vehicles lubricants market value. With the greater availability and accessibility to these products through online platforms, consumers are increasingly purchasing lubricants online. This trend is driven by the greater convenience coupled with better prices that are offered online. Adding to this, brands are increasingly investing in digital marketing strategies to reach consumers through online platforms, social media, and targeted advertising.
Rising environmental awareness and concerns are leading to a higher demand for eco-friendly lubricants. Consumers and businesses are increasingly looking for products that minimize environmental impact and have a lower carbon-footprint. The market is also witnessing an increase in the availability of biodegradable and low-toxicity lubricants, which is driven both by consumer preferences and stringent regulations and restrictions.
“Vietnam Passenger Vehicles Lubricants Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
Market Breakup by Region
Based on product type, the market is divided into engine oils, greases, hydraulic fluids, and transmission and gear oils. Engine oils occupy a significant market share due to their rising demand for the lubrication of ICEs in automobiles. The favourable properties of engine oils such as heat resistance, wear protection, and superior viscosity make them appropriate for maintaining the mechanical parts of vehicles. The demand for grease is also anticipated to rise due to its rising usage in industrial parts such as bearings and conveyors.
The market participants are readily offering synthetic lubricants to gain a competitive edge in the market.
Vietnam Passenger Vehicles Lubricants Market Size
Vietnam Passenger Vehicles Lubricants Market Growth
*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 5.70% between 2025 and 2034.
The market is being driven due to growing production of passenger vehicles, a shift in the Vietnamese consumer preference towards eco-efficient lubricants, and rising demand for high-performance lubricants.
The key trends aiding the market include the burgeoning popularity of bio-based lubricants, the growth of lubricants with extended drain intervals, and the surge in EV lubricants.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on product type, market segmentations include engine oils, greases, hydraulic fluids, and transmission and gear oils.
The major players in the market are Shell Plc, TotalEnergies SE, Idemitsu Kosan Co., Ltd., Motul S.A., Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Eneos Holdings Inc., AP SAIGON PETRO, and MEKONG PETROCHEMICAL JSC, 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 Product 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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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
+91-723-689-1189
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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