
South Korea Lubricants Market Report and Forecast 2025-2034
Description
The South Korea lubricants market size was nearly 819.19 Million Liters in 2024. The market is estimated to grow at a CAGR of 2.40% during 2025-2034, to reach nearly 1038.45 Million Liters by 2034.
Key Trends in the Market
Lubricants refer to substances that are used to reduce friction between different parts and minimise the wear and tear of machines. They also decrease operational downtime while increasing the overall productivity of machinery. Lubricants are used in different end-use sectors, like automotive and chemical, among others.
The EMR’s report titled “South Korea Lubricants Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Base Oil
Gear and transmission oils represent a significant portion of the South Korea lubricants market share as these lubricants play an essential role in the automotive sector. As both transmission and gearbox oils support gears to change and control the speed, force, and direction of a vehicle, their demand is significantly increasing.
Moreover, gear and transmission oils are widely used in sectors like aerospace, automotive, and power generation, among others, to reduce friction and protect transmission. The demand for gear and transmission oil is further expected to grow in the forecast period due to rapid industrialisation, rising infrastructure projects, and advancements in technology.
Market Share by End Use
As per the South Korea lubricants market analysis, the demand for lubricants in the automotive sector is increasing. Lubrication of automotive parts is essential to reduce the friction caused by vehicles and prevent continuous wear and tear. Lubricants can also be used to clean and cool down the engine parts and prevent them from oxidation and corrosion.
Moreover, with the increasing adoption of EVs in the country, key players in the markets are attempting to develop lubricants that can be used for electric and hybrid electric vehicles.
Competitive Landscape
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 South Korea lubricants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
FUCHS SE
FUCHS SE is a German company that was founded in the year 1931 and company deals in lubricants and related specialities. It operates in six key segments, including automotive lubricants, industrial lubricants, lubricating greases, metal processing lubricants, special application lubricants, and services.
GS Caltex Corporation
GS Caltex Corporation was founded in 1967 and is headquartered in Seoul, South Korea. The company started producing lubricants in 1969. It produces engine oils for passenger and commercial cars, hydraulic fluid for industrial application and lubricating oils for automotive and industrial use. The company launched Kixx, an automotive lubricants brand in 2005.
HD Hyundai Co. Ltd.
HD Hyundai Co. Ltd., headquartered in Ulsan, South Korea, is a company that deals in four major business lines, including marine, energy, industrial, and support and service. Hyundai and Shell Base Oil is a joint venture company which produces high-quality lubricant base oil. The company supplies its high-quality products to around 30 countries throughout the world.
Other South Korea lubricants market players include BP Plc, Exxon Mobil Corporation, Shell Plc, Exolube Lubricant Corp., SK Inc. (SK Enmove Co., Ltd.), S-Oil Corp., and Michang Oil Ind. Co., Ltd., among others.
Key Trends in the Market
Lubricants refer to substances that are used to reduce friction between different parts and minimise the wear and tear of machines. They also decrease operational downtime while increasing the overall productivity of machinery. Lubricants are used in different end-use sectors, like automotive and chemical, among others.
- The South Korea lubricants market growth can be attributed to increasing investments in metal-based manufacturing in the country. As various types of machinery experience wear and tear due to continuous use over time, lubricants such as mineral oil, grease, hydraulic oils, and gear oils, among others, are used to maintain their operational efficiency and enhance their functional capabilities.
- The robust growth of the automotive sector is propelling the South Korea lubricants market demand. Due to the presence of indigenous automotive brands like Kia, Hyundai, and Genesis, among others, the demand for lubricants to ensure the smooth functioning of vehicle parts and enhance the fuel efficiency of vehicles is increasing.
- One of the South Korea lubricants market trends is the shift towards sustainable alternatives, surging the demand for eco-friendly lubricants. Non-toxic lubricants derived from raw plants, such as sunflower seeds, soybeans, and canola, among others, with anti-oxidation, anti-rust, and anti-wear properties are gaining significant popularity in the country.
The EMR’s report titled “South Korea Lubricants Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Base Oil
- Mineral Oil
- Synthetic Oil
- Bio-Based Oil
- Engine Oils
- Greases
- Hydraulic Fluids
- Metalworking Fluids
- Transmission and Gear Oils
- Others
- Automotive
- Heavy Equipment
- Metallurgy and Metalworking
- Power Generation
- Chemical
- Others
Gear and transmission oils represent a significant portion of the South Korea lubricants market share as these lubricants play an essential role in the automotive sector. As both transmission and gearbox oils support gears to change and control the speed, force, and direction of a vehicle, their demand is significantly increasing.
Moreover, gear and transmission oils are widely used in sectors like aerospace, automotive, and power generation, among others, to reduce friction and protect transmission. The demand for gear and transmission oil is further expected to grow in the forecast period due to rapid industrialisation, rising infrastructure projects, and advancements in technology.
Market Share by End Use
As per the South Korea lubricants market analysis, the demand for lubricants in the automotive sector is increasing. Lubrication of automotive parts is essential to reduce the friction caused by vehicles and prevent continuous wear and tear. Lubricants can also be used to clean and cool down the engine parts and prevent them from oxidation and corrosion.
Moreover, with the increasing adoption of EVs in the country, key players in the markets are attempting to develop lubricants that can be used for electric and hybrid electric vehicles.
Competitive Landscape
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 South Korea lubricants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
FUCHS SE
FUCHS SE is a German company that was founded in the year 1931 and company deals in lubricants and related specialities. It operates in six key segments, including automotive lubricants, industrial lubricants, lubricating greases, metal processing lubricants, special application lubricants, and services.
GS Caltex Corporation
GS Caltex Corporation was founded in 1967 and is headquartered in Seoul, South Korea. The company started producing lubricants in 1969. It produces engine oils for passenger and commercial cars, hydraulic fluid for industrial application and lubricating oils for automotive and industrial use. The company launched Kixx, an automotive lubricants brand in 2005.
HD Hyundai Co. Ltd.
HD Hyundai Co. Ltd., headquartered in Ulsan, South Korea, is a company that deals in four major business lines, including marine, energy, industrial, and support and service. Hyundai and Shell Base Oil is a joint venture company which produces high-quality lubricant base oil. The company supplies its high-quality products to around 30 countries throughout the world.
Other South Korea lubricants market players include BP Plc, Exxon Mobil Corporation, Shell Plc, Exolube Lubricant Corp., SK Inc. (SK Enmove Co., Ltd.), S-Oil Corp., and Michang Oil Ind. Co., Ltd., among others.
Table of Contents
111 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Lubricants Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Lubricants Historical Market (2018-2024)
- 5.3 Asia Pacific Lubricants Market Forecast (2025-2034)
- 5.4 Asia Pacific Lubricants Market Breakup by Country
- 5.4.1 China
- 5.4.2 Japan
- 5.4.3 India
- 5.4.4 ASEAN
- 5.4.5 Australia
- 5.4.6 South Korea
- 5.4.7 Others
- 6 South Korea Lubricants Market Overview
- 6.1 Key Industry Highlights
- 6.2 South Korea Lubricants Historical Market (2018-2024)
- 6.3 South Korea Lubricants Market Forecast (2025-2034)
- 7 South Korea Lubricants Market by Base Oil
- 7.1 Mineral Oil
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Synthetic Oil
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Bio-Based Oil
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 8 South Korea Lubricants Market by Product Type
- 8.1 Engine Oils
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Greases
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Hydraulic Fluids
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Metalworking Fluids
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Transmission and Gear Oils
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 South Korea Lubricants Market by End Use
- 9.1 Automotive
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Heavy Equipment
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Metallurgy and Metalworking
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Power Generation
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Chemical
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 BP Plc
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 Exxon Mobil Corporation
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Shell Plc
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Exolube Lubricant Corp.
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 FUCHS SE
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 GS Caltex Corporation
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 HD Hyundai Co. Ltd.
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 SK Inc. (SK Enmove Co., Ltd.)
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 S-Oil Corp.
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Michang Oil Ind. Co., Ltd.
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
Pricing
Currency Rates
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