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Colombia Automotive Lubricants Market Size, Share, Trends: By Product Type: Engine Oil, Gear Oil, Transmission Fluids, Brake Fluids, Coolants, Greases; By Grade: Mineral Oil Lubricants, Synthetic Lubricants, Semi-Synthetic Lubricants, Bio-Based Lubricants; By Vehicle Type: Passenger Vehicles, Others; Competitive Landscape; 2024-2032
Colombia Automotive Lubricants Market Outlook
The Colombia automotive lubricants market size is projected to grow at a CAGR of 4.70% between 2024 and 2032.
Key Takeaways
- In 2022, Colombia imported cars worth $2.73B, making it the 44th largest global importer. This boosted the demand for automotive lubricants as cars became the second most imported product in Colombia.
- The increasing need for eco-friendly lubricants that are biodegradable and have a reduced environmental impact is gaining traction.
- The emergence of electric vehicles is reshaping the lubricants market. Although electric vehicles demand less lubrication, there is a growing necessity for specialised lubricants tailored for components like bearings and seals.
High performance automotive lubricants are crucial in decreasing emissions and enhancing fuel efficiency, leading to a rise in market demand. The Colombia automotive lubricants market growth is propelled by government regulations and programs that promote sustainable transportation and the use of environmental friendly solutions like bio-based lubricants. With the rising awareness among consumers regarding the significance of regular vehicle maintenance, there is a higher probability of them opting for high-quality lubricants.
Colombia witnessed a significant surge in vehicle sales in 2021, with a total of 250,497 units sold. This represents a remarkable 33% increase compared to the previous year. Additionally, it is projected that sales will continue to rise steadily between 2022 and 2025, with an average annual growth rate of 4%. Among different vehicle types, passenger vehicles dominate the market. This robust expansion of the automotive sector is expected to drive up the Colombia automotive lubricants market share.
Moreover, with an increase in the adoption of electric vehicles, manufacturers are now focusing on developing lubricants that are not only more environmentally friendly but also more efficient in reducing friction and wear in electric vehicles. These specialised lubricants are formulated to provide improved protection to sensitive electrical systems and high-tech components found in electric vehicles.
Market Segmentation
Colombia Automotive Lubricants Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Engine Oil
- Gear Oil
- Transmission Fluids
- Brake Fluids
- Coolants
- Greases
Market Breakup by Grade
- Mineral Oil Lubricants
- Synthetic Lubricants
- Semi-Synthetic Lubricants
- Bio-Based Lubricants
Market Breakup by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Motorcycle
Competitive Landscape
The market participants are focusing on the production of efficient and eco-friendly automotive lubricants to meet the evolving demands of customers.
- BP PLC (Castrol)
- Exxon Mobil Corporation
- Chevron Corporation
- TotalEnergies SE
- Repsol, S.A.
- MOTUL S.A.
- PETRONAS Lubricants International Sdn. Bhd.
- Amsoil Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Grade |
|
| Breakup by Vehicle Type |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Automotive Lubricants Market Overview
8.1 Key Industry Highlights
8.2 Latin America Automotive Lubricants Historical Market (2018-2023)
8.3 Latin America Automotive Lubricants Market Forecast (2024-2032)
8.4 Latin America Automotive Lubricants Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Automotive Lubricants Market Overview
9.1 Key Industry Highlights
9.2 Colombia Automotive Lubricants Historical Market (2018-2023)
9.3 Colombia Automotive Lubricants Market Forecast (2024-2032)
10 Colombia Automotive Lubricants Market by Product Type
10.1 Engine Oil
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Gear Oil
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Transmission Fluids
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Brake Fluids
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Coolants
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Greases
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
11 Colombia Automotive Lubricants Market by Grade
11.1 Mineral Oil Lubricants
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Synthetic Lubricants
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Semi-Synthetic Lubricants
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Bio-Based Lubricants
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Colombia Automotive Lubricants Market by Vehicle Type
12.1 Passenger Vehicles
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial Vehicles
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Motorcycle
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BP PLC (Castrol)
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Exxon Mobil Corporation
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Chevron Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 TotalEnergies SE
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Repsol, S.A.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 MOTUL S.A.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 PETRONAS Lubricants International Sdn. Bhd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Amsoil Inc.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Automotive Lubricants Market: Key Industry Highlights, 2018 and 2032
2. Colombia Automotive Lubricants Market: Key Industry Highlights, 2018 and 2032
3. Colombia Automotive Lubricants Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Colombia Automotive Lubricants Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Colombia Automotive Lubricants Historical Market: Breakup by Grade (USD Million), 2018-2023
6. Colombia Automotive Lubricants Market Forecast: Breakup by Grade (USD Million), 2024-2032
7. Colombia Automotive Lubricants Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
8. Colombia Automotive Lubricants Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
9. Colombia Automotive Lubricants Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.70% between 2024 and 2032.
The growing car sales in the region and the increasing adoption of electric vehicles are driving the market demand.
The key trends aiding the market expansion include the rising demand for eco-friendly lubricants and stringent government regulations to promote fuel efficient vehicles.
The major grades of automotive lubricants are mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants.
The different vehicle types in the market are passenger vehicles, commercial vehicles, and motorcycles.
The major players in the market are BP PLC (Castrol), Exxon Mobil Corporation, Chevron Corporation, TotalEnergies SE, Repsol, S.A., MOTUL S.A., PETRONAS Lubricants International Sdn. Bhd., and Amsoil Inc., among others.
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