PASSENGER CAR
FULLY SYNTHETIC
ENGINE OIL MARKET OVERVIEW
Fully synthetic engine oil is a high-performance lubricant formulated for modern passenger car engines, offering superior protection and efficiency.
MARKET SIZE AND GROWTH
THE GLOBAL MARKET
SIZE WAS VALUED AT USD 2,351 MILLION IN 2023. IT IS PROJECTED TO REACH USD 3,375.28 MILLION BY 2032. THE MARKET IS EXPECTED TO GROW AT A CAGR OF 4.10% DURING THE FORECAST PERIOD (2025-2032)
MARKET SEGMENTATION
REGIONAL ANALYSIS
Study focuses on evaluating the market landscape, consumer trends, and competition pertinent to the new product.
ASIA-PACIFIC
Significant growth in countries like China, Japan, and India, driven by an expanding automotive sector and rising disposable income
MIDDLE EAST & AFRICA
Increasing demand due to a growing automotive industry and vehicle sales, offering lucrative opportunities
NORTH AMERICA
Estimated at USD 656.42 million in 2023, with a projected CAGR of 3.51% from 2025 to 2032
EUROPE
Characterized by stringent regulations and major oil companies, expecting steady growth due to high-performance lubricant demand
SOUTH & CENTRAL AMERICA
Poised for growth with improving economic conditions, rising vehicle sales, and increased awareness about engine maintenance
KEY PLAYERS
Lukoil
