The total number of vehicles in the world, including passenger cars and commercial vehicles stood at an estimated 1.28 bln in 2015. It is projected to cross the 2 bln mark by 2035 and 2.5 bln by 2035. The global increase in the demand for vehicle fleets also raises the demand for automotive lubricants that are vital for the good functioning of an automobile. The global lubricants market size was estimated at USD 139.44 bln in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2030.
Automotive lubricants play a crucial part in the smooth function and longevity of automotive parts. Lubricants are substances that are used to control friction and wear between surfaces that are in touch with a relative motion. A lubricant typically consists of 80-90% base oil and the rest is additives. A good oil should have many characteristics like high boiling point, high viscosity index, corrosion retardation, thermal stability, low freezing point, and resistance to oxidation. Lubricants help in extending the lifespan of mechanical parts.
Different Types and Importance
Automotive lubricants aftermarket can be split majorly into engine oil, gear oil, transmission fluids, greases, coolants and many more. Lubricants not only increase the lifespan of a vehicle but also help to achieve better fuel efficiency. Fluids like engine oil have always dominated the aftermarket segment and it is important to change them frequently. The increase in the age of vehicles also impacts the lubricant market as older vehicles require more frequent lubricant change and maintenance. Considering the past, the car owners of the present are more concerned and aware of the importance of lubricant changes and regular service. This awareness too is helping the growth of the aftermarket industry.
The 21st century witnesses a higher mobility of vehicles which has increased the traveling time and distance of a vehicle. This has also increased the use of aftermarket products.
Major Players and Challenges
The key players in the Automotive Lubricants Aftermarket include Royal Dutch Shell plc, ExxonMobil Corporation, BP p.l.c., Chevron Corporation, Total S.A., Sinopec Corporation, Fuchs Lubricants Co., LUKOIL Oil Company, Valvoline, Phillips 66, Bharat Petroleum Corporation Limited, JX Nippon Oil & Energy Corporation, Repsol S.A., Petrobras, Petronas, and Indian Oil Corporation Limited.
With descending crude oil reserves, the global lubricant market is facing a chummy supply of raw materials. Major oil companies are turning their focus on the development of new refining techniques and sources to overcome this crisis. This trend has resulted in the installation of new refining technologies that are patented by designated players to produce high-performance automotive lubricating oil. Despite this, there is also a surge of counterfeit products that stand as a threat to the aftermarket industry. These products are sub-standard and can simply harm the vehicle. They also steal consumer’s trust.
Synthetic and Semi-Synthetic Oil- The Way to Future
Mineral engine oils currently dominate the global automotive lubricant industry. However, there is a shift happening towards synthetic and semi-synthetic oils as the automotive industry undergoes quick evolutions. Automakers worldwide are shifting towards lubricant grades with less viscosity to achieve the higher required fuel efficiency norms and emission requirements. Synthetic engine oils are made with a variety of performance additives and synthetic base oils. These are engineered with molecules of uniform size and shape that constantly offer better performance and durability than mineral-based oils. They don’t break down as easily as mineral oils. So, they offer longer protection for engines from wear caused by excessive friction.
These lab-engineered lubricants also offer several advantages over conventional fluids like, higher temperature stability. reduced friction, and enhanced wear protection. The benefits of synthetic lubricants expand beyond performance.
Nanotechnology in Lubricants
Nanotechnology has brought about a new era of revolution in lubricants. At its core, nanotechnology involves the manipulation and utilisation of minuscule particles on a nanoscale. This has had a profound impact on lubrication technology. Nanoparticles, which typically measure less than 100 nanometers, are being ingeniously incorporated into lubricants to revolutionise their performance. These tiny wonders serve as active additives that form a protective layer between moving parts within the engine. In essence, nanotechnology’s precision engineering has paved the way for lubricants that are not only incredibly effective but also tailored to meet the increasingly demanding needs of modern automobiles. This has pushed the boundaries of what was once thought possible in automotive lubrication.
Biodegradable Lubricants and Environmental Sustainability
Biodegradable lubricants have emerged as a viable solution to growing environmental concerns in the automotive industry. The primary concern in lubrication is the potential harm caused by the disposal of traditional lubricants, which contain non-biodegradable components. In contrast, biodegradable lubricant formulations are designed with eco-friendliness in mind. These formulations are typically derived from renewable resources or synthesised with biodegradable base oils, making them less harmful to the environment during production and disposal.
Using biodegradable lubricants has many benefits, including a reduced ecological impact. They break down more easily in natural environments, minimising soil and water pollution. This green approach aligns with the industry’s commitment to environmental responsibility and supports a cleaner, more sustainable future for automobiles. As a result, biodegradable lubricants are an appealing choice for environmentally conscious consumers and manufacturers alike.
Impact of Electric Vehicles
Electric vehicle lubricants are different from that of internal combustion engine vehicles. As electric vehicles have various power electronics components, the fluids must ensure their safety. They must flow easily through various parts with low viscosity. Major types of lubricants in EVs are greases, heat transfer fluids, driver system fluids, and brake fluids. These are applied in various components such as e-motors, battery systems, bearings, constant velocity joints, power electronics, gears, and braking systems. The EV lubricant market is under development process.
The electric motors and power electronics of electric vehicles are located closer to the lubricants, and in some cases, the electronics portions can also be submerged in lubricants. Therefore, the lubricants and fluids used must possess highly effective thermal management properties to regulate the functions of an electric vehicle. Additionally, modern EV designs incorporate more copper, power electronics, and plastics for insulation or to replace metal sections of the car. All of these have not been a part of conventional vehicle architecture. This means that chemical compatibility is now crucial for lubricant and fluid makers in order to prevent corrosion and other equipment problems.
Compared to conventional engines, EVs usually have inconsistent temperature differentials. This puts forth a challenge in front of lubricant manufacturers to focus more on dynamic viscosity, density, specific heat capacity, thermal stability and oxidative stability.
The electric vehicle fluids market is growing due to investments by governments and federal agencies in subsidies and infrastructure development. These efforts promote the use of electric vehicles as a means of reducing carbon dioxide emissions.
Conclusion
Despite the challenges, Automotive lubricant aftermarket is sure to prosper and progress in the coming decade. Some revolutionary changes are to happen in the lubricant market to cop up with the rapid changes happening in the automotive sector. Whatever the changes and challenges are, lubricants aftermarket still continues to ease the operation of automotive parts and simplify the life of automobile owners.
Vaishnav Satheesh