Positive. The Automotive Engine Oil Market is projected to grow at a CAGR of 3.70%.
From GlobeNewswire: 2025-06-20 10:15:00
The Automotive Engine Oil Market was valued at USD 54.26 billion in 2024 and is projected to reach USD 72.55 billion by 2032, with a CAGR of 3.70%. Growing demand for synthetic oils, compliance with emission norms, and innovations in oil formulations are driving market growth globally.
In the U.S., the Automotive Engine Oil market is valued at USD 9.29 billion in 2024, expected to reach USD 13.12 billion by 2032, growing at a CAGR of 4.42%. Factors include stricter emission standards, increased vehicle electrification, and the introduction of eco-friendly synthetic oils by companies like Valvoline and Shell.
By Grade, Mineral Grade Segment dominated the Automotive Engine Oil Market in 2024 with a 41.0% Market Share. Mineral oils remain popular due to cost-effectiveness, extensive use in older vehicles, and API compliance. ExxonMobil and other companies continue to supply mineral oils at competitive rates, maintaining their market presence.
Asia Pacific led the Automotive Engine Oil Market in 2024 with a 41.5% Market Share, driven by rapid vehicle production, rising disposable incomes, and government policies on fuel quality and emission norms. Increasing awareness of engine maintenance and performance further support market expansion in the region.
Read more at GlobeNewswire: Automotive Engine Oil Market Anticipated to Grow at 3.70%