The Vietnam automotive lubricants market reached a size of USD 421.9 Million in 2025 and is projected to grow to USD 607.1 Million by 2034. The market is expected to expand at a CAGR of 4.13% during the forecast period 2026-2034. Growth is driven by rising vehicle ownership, increased awareness of lubricant quality, advancements in vehicle diagnostics, the preference for high-performance vehicles, and focus on routine maintenance. These factors collectively boost demand across passenger and commercial vehicle segments.
Study Assumption Years
- Base Year: 2025
- Historical Years: 2020-2025
- Forecast Period: 2026-2034
Vietnam Automotive Lubricants Market Key Takeaways
- The market size was USD 421.9 Million in 2025.
- The market is expected to grow at a CAGR of 4.13% during 2026-2034.
- Market forecast size is USD 607.1 Million by 2034.
- Rising vehicle ownership driven by rapid urbanization, increasing middle-class incomes, and better road infrastructure fuels demand.
- Expanding commercial logistics and e-commerce increase fleet activity and lubricant consumption frequency.
- Domestic automobile sales exceeded 400,000 units in 2023, with two-wheelers dominating over 3 Million units sold.
- Lubricant brands are expanding retail and service partnerships especially in Tier 2 and Tier 3 cities.
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Market Growth Factors
Automotive lubricants market in Vietnam is growing continuously with an increase in the volume of vehicles due to rapid urbanization, increasing per capita disposable income of the middle-class population, and development of road infrastructure. A market for engine oils, transmission fluids, and gear oils of two-wheelers and four-wheelers, for both OEMs and aftermarket service, exists in the region. Increased activity in the logistics industry, particularly in commercial deliveries and e-commerce, has also increased fleet activity which has driven consumption of vehicle maintenance lubricants.
The automotive industry is another emerging industry. The country's car production reached around 388,500 in 2024, a 27% increase from 2023. Additionally, the number of households with incomes above USD 5,000 yearly is expected to increase until 60% of all households in 2027, increasing purchasing power and vehicle ownership, and consequently lubricant demand. Infrastructure spending as a percentage of GDP is targeted to increase to 6% in 2025, revised to 7%, and GDP growth over 5 years to 2025 to between 7% and 8% (originally 7% to 8%) further increasing road and public transport networks.
Policies that assist the domestic manufacturing industry and the manufacture of vehicles and auto parts in Vietnam (such as reduced import duties on raw materials) also result in more "Made in Vietnam" vehicles, which in turn increase lubricant demand. Technologies for modern vehicles have also influenced lubricant demand due to the need for next generation lubricants and greases, such as synthetic oils with a broader temperature range and longer service intervals.
Market Segmentation
By Product Type:
- Engine Oils: Essential for reducing friction, improving fuel efficiency, and ensuring engine longevity. Increasing vehicle ownership and servicing ecosystem expansion are fueling demand, with a shift towards premium and synthetic engine oils for better performance.
- Greases: Vital for protecting mechanical components such as wheel bearings and chassis, especially in high-load and moist environments. Growth is boosted by rising vehicle numbers and repair network expansion, particularly for commercial vehicles and motorcycles.
- Hydraulic Fluids: Used extensively in heavy vehicles and construction transport for braking and power steering systems. Growth is supported by infrastructure projects and demand for premium fluids with better stability.
- Transmission and Gear Oils: Increasing use driven by demand for smoother drives and higher fuel efficiency. Growth attributed to advanced transmission systems and the rise in commercial transport activities.
By Vehicle Type:
- Commercial Vehicles: Key growth segment due to rising logistics, construction, and public transport usage. Heavy-duty lubricants reduce downtime and enhance fleet performance.
- Motorcycles: Dominant in personal transport with frequent maintenance needs, boosting demand for specialized engine oils and greases. Increasing shift towards synthetic lubricants is noted.
- Passenger Vehicles: Growing rapidly with rising incomes and consumer preference for personal mobility. Increased demand for high-performance and synthetic lubricants supporting fuel efficiency and environmental concerns.
Regional Insights
Southern Vietnam, including Ho Chi Minh City, is the dominant region contributing the largest share of the automotive lubricants market. This region's high vehicle density, intense commercial activity, and status as a major logistics and industrial hub drive consistent lubricant consumption. Two-wheelers are the primary transport mode, and passenger vehicle sales growth is driving demand for synthetic lubricants. The tropical climate and heavy vehicle movement require lubricants with strong thermal stability and wear protection. Extensive workshop and retail networks support product availability and partnerships.
Recent Developments & News
- March 2025: TotalEnergies Marketing Vietnam partnered with Cao Gia Quy Environment Company to recycle waste engine oil from various client service points, complying with Vietnam's Extended Producer Responsibility regulations.
- March 2025: Škoda Auto expanded operations with a new assembly plant in Quang Ninh Province, partnering with Thanh Cong Group, increasing lubricant demand.
- March 2025: Geely Auto entered the Vietnamese market with its Coolray SUV; partnered with Tasco for a USD 168 Million manufacturing plant in Thái Bình Province starting 2026.
- November 2024: Champion Lubricants (Belgium's Wolf Oil Corporation) entered the Vietnamese market via exclusive distribution with Vietsea Company.
- August 2024: MatraX Lubricants expanded into Vietnam, strengthening its presence with a range of automotive lubricants and additives.
- March 2024: Top Solutions Joint Stock Company began constructing a USD 5.5 Million lithium-based grease production plant in Ninh Thuận Province.
Key Players
- TotalEnergies Marketing Vietnam
- Škoda Auto
- Geely Auto
- Champion Lubricants (Wolf Oil Corporation)
- MatraX Lubricants
- Top Solutions Joint Stock Company
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