Lubricating Oil Refining Market to Grow at 6.3% CAGR from 2025-2029

The Business Research Company

The Business Research Company's Lubricating Oil Refining Market to Grow at 6.3% CAGR from 2025-2029

It will grow to $24.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%.”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, August 7, 2025 /EINPresswire.com/ -- "Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

What Is The Lubricating Oil Refining Market Size And Growth?
The size of the lubricating oil refining market has seen a notable increase in the past few years. The market is projected to expand from a $18.39 billion in 2024 to $19.5 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%. The factors contributing to this growth during the historic period include a rise in demand for high-performance lubricants, an increase in requirements for lubricants in the aviation, automotive, and industrial sectors, and a surge in global commerce.

The market size of the lubricating oil refining sector is anticipated to experience robust expansion in the coming years, rising to $24.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The projected growth within this period can be ascribed to a growing requirement for more environmentally friendly fuels, a movement towards biofuels and sustainable energy options, escalating industrial activities, swift urban expansion, and a rising demand for efficient and dependable lubricants. Key trends for the forecasted period include the advent of technological innovations, breakthroughs in lubricant formulations, the shift to bio-sourced lubricants, the incorporation of digital technology into refining processes, and increased focus on implementing circular economy strategies.

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What Are The Current Leading Growth Drivers For Lubricating Oil Refining Market?
The growth of the lubricating oil refining market is projected to be driven by the rising demand for cleaner fuels. Clean fuels are energy sources that release fewer pollutants and greenhouse gases than traditional fossil fuels. Their demand is on the rise as they aid in reducing air pollution, minimizing greenhouse gas emissions, and tackling climate change, ultimately promoting a healthier and sustainable environment. Lubricating oil refining contributes to the production of clean fuels by eliminating impurities, sulfur, and non-desirable compounds, thereby boosting fuel efficiency and enhancing engine functionality. For example, in December 2022, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, predicted a 6% growth in the global demand for biofuels, resulting in an annual rise of 9,100 million liters (MLPY) from 2021 to 2022. Therefore, the escalating demand for cleaner fuels is fueling the expansion of the lubricating oil refining market.

Which Companies Are Currently Leading In The Lubricating Oil Refining Market?
Major players in the Lubricating Oil Refining Global Market Report 2025 include:
• Sinopec Group
• PetroChina Company Limited
• ExxonMobil Corporation
• Shell plc
• TotalEnergies SE
• British Petroleum
• Chevron Corporation
• Idemitsu Kosan Co. Ltd.
• Lukoil
• Neste Oyj

What Are The Main Trends, Positively Impacting The Growth Of Lubricating Oil Refining Market?
Leading firms in the lubricating oil refining market are prioritizing technological innovations such as advanced re-refining solutions. These solutions aim to boost performance, enhance product quality, and mitigate environmental implications by processing used oils into high-efficiency base oils. These progressive re-refining technologies introduce techniques to cleanse and recycle used lubricant oils, eliminating impurities and converting them back into high-quality base oils for reutilization. For instance, in September 2024, Pentas Flora, a Malaysian waste management firm, released re-refined Group II N150 base oil. This coincided with the industrial shift towards superior-grade, top-performing base oils. This transition was fueled by the need for improved fuel efficiency, prolonged drain intervals, decreased emissions, and enhanced performance within the lubricant industry. The re-refining procedure carried out by Pentas Flora incorporates distillation, solvent extraction, and lube polishing, allowing it to manufacture superior quality, low-sulfur base oils that comply with Group II and III standards.

How Is The Lubricating Oil Refining Market Segmented?
The lubricating oil refiningmarket covered in this report is segmented –

1) By Product Type: Mineral Oils, Synthetic Oils, Biolubricants, Semi-synthetic Oils
2) By Viscosity Grade: Low Viscosity, Medium Viscosity, High Viscosity
3) By Additive Type: Detergents, Antioxidants, Anti-wear Additives, Viscosity Index Improvers, Corrosion Inhibitors
4) By Application: Automotive Oils, Industrial Oils, Aerospace Oils, Marine Oils, Specialty Oils

Subsegments:

1) By Mineral Oils: Paraffinic Mineral Oils, Naphthenic Mineral Oils, Aromatic Mineral Oils
2) By Synthetic Oils: Polyalphaolefins (PAO), Polyalkylene Glycols (PAG), Esters, Silicones
3) By Biolubricants: Vegetable Oil-Based Lubricants, Animal Fat-Based Lubricants, Synthetic Ester-Based Biolubricants
4) By Semi-Synthetic Oils: Low-Synthetic Content Blends, High-Synthetic Content Blends, Ester-Enhanced Semi-Synthetic Oils

View the full lubricating oil refining market report:
https://www.thebusinessresearchcompany.com/report/lubricating-oil-refining-global-market-report

Which Is The Dominating Region For The Lubricating Oil Refining Market?
In the Lubricating Oil Refining Global Market Report 2025, North America led as the biggest region in 2024. Also included in the report are other regions like Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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