Vietnam Automotive Lubricants Market Outlook: Trends, Growth, and Future Opportunities 2026-2034

The Vietnam automotive lubricants market size reached USD 421.9 Million in 2025. It is projected to grow to USD 607.1 Million by 2034, with a CAGR of 4.13% over the forecast period from 2026 to 2034. The market growth is driven by rising vehicle ownership, heightened awareness of lubricant quality, advancements in diagnostic tools, and a preference for high-performance vehicles.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

Vietnam Automotive Lubricants Market Key Takeaways

• The Vietnam automotive lubricants market size was USD 421.9 Million in 2025.
• The market is expected to grow at a CAGR of 4.13% during 2026-2034.
• The forecast market size for 2034 is USD 607.1 Million.
• Rising vehicle ownership due to urbanization, expanding middle-class income, and improved infrastructure drives lubricant demand.
• Increasing commercial logistics and e-commerce activities intensify fleet operations and lubricant consumption.
• Two-wheeler sales dominate Vietnam, supporting sustained lubricant demand.
• Lubricant brands are expanding retail and service center tie-ups into Tier 2 and Tier 3 cities.

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Market Growth Factors

Vehicle ownership in Vietnam is steadily increasing, fueled by rapid urbanization, expanding middle-class incomes, and improved road infrastructure. This growth extends to both two-wheelers and four-wheelers, driving steady demand for engine oils, transmission fluids, and gear oils in OEM servicing and aftermarket segments. The rise in commercial logistics and e-commerce delivery operations further intensifies fleet activities, increasing lubricant consumption frequency and volume, which supports market expansion.

The automotive sector's growth is marked by rising domestic vehicle production, reaching about 388,500 cars in 2024, a 27% increase from the previous year. Improved disposable incomes—where 60% of households are estimated to earn over USD 5,000 annually by 2027—and increased infrastructure investments (with government infrastructure spending targets rising to 7% of GDP) are boosting vehicle ownership and thus lubricant demand. Supportive policies promoting local vehicle and auto parts manufacturing and advances in vehicle technology are steering a shift toward high-performance, synthetic lubricants that improve engine efficiency and durability.

Expansion of organized service networks is another key growth driver. Branded garages, multi-brand workshops, quick oil change outlets, and dealership service centers serve as major lubricant distribution points. Partnerships signed by lubricant brands such as Idemitsu and Motul with local workshop chains, combined with bundled oil change and maintenance packages in major cities, improve lubricant accessibility and convenience. This ecosystem expansion, supported by technician training and warranty services, increases lubricant consumption through more frequent and reliable oil change solutions.

Market Segmentation

By Product Type:

• Engine Oils: Demand rises due to increasing vehicle ownership and servicing networks. Essential for reducing friction, enhancing fuel efficiency, and engine longevity, with a growing shift towards premium and synthetic oils meeting high-temperature and extended interval requirements.
• Greases: Critical for protecting mechanical parts under high load and moisture, especially in commercial vehicles and motorcycles exposed to rough roads. Demand grows with increased vehicle numbers and repair garage networks.
• Hydraulic Fluids: Used mainly in heavy vehicles and construction transport for braking, power steering, and other hydraulic functions, with growth driven by commercial fleets and infrastructure projects adopting premium fluids with enhanced resistance properties.
• Transmission and Gear Oils: Increasing need due to demand for smoother gear operation and improved fuel efficiency. Advanced transmission systems in new vehicles and growing logistics activities drive demand for specialized oils.

By Vehicle Type:

• Commercial Vehicles: High growth from logistics, construction, and public transport sectors requiring frequent lubrication to maintain fleet performance and minimize downtime. Preference for high-efficiency lubricants for fuel cost savings is rising.
• Motorcycles: Major contributor to lubricant demand due to dominance in personal transport. Frequent maintenance and oil changes, increasing scooter use with automatic transmissions, and rising synthetic lubricant adoption support growth.
• Passenger Vehicles: Rapid growth linked to rising incomes and financing. Demand for high-performance engine and gear oils grows with the popularity of branded service centers and environmentally friendly products.

Regional Insights

Southern Vietnam, including Ho Chi Minh City, is the dominant region contributing the largest share to the automotive lubricants market due to high vehicle density and commercial activity. The tropical climate and heavy vehicle traffic create demand for lubricants with strong thermal stability and wear protection. The extensive workshop and retailer network also priorities product availability and service partnerships to serve this region effectively.

Recent Developments & News

• March 2025: TotalEnergies Marketing Vietnam partnered with Cao Gia Quy Environment Company to recycle waste engine oil from its services, complying with Extended Producer Responsibility regulations.
• March 2025: Škoda Auto expanded manufacturing with a new assembly plant in Quang Ninh Province, partnering with Thanh Cong Group.
• March 2025: Geely Auto entered the Vietnamese market with the Coolray SUV launch and plans for a USD 168 Million manufacturing plant in Thái Bình Province, production beginning in 2026.
• November 2024: Champion Lubricants (Belgium's Wolf Oil Corporation) entered Vietnam through Vietsea Company distribution.
• August 2024: MatraX Lubricants announced expansion into Vietnam aiming to meet rising demand for automotive lubricants.
• March 2024: Top Solutions Joint Stock Company began construction of a USD 5.5 Million lithium-based grease plant in Ninh Thuận Province, first of its kind in Vietnam.

Key Players

• TotalEnergies Marketing Vietnam
• Škoda Auto
• Thanh Cong Group
• Geely Auto
• Tasco
• Champion Lubricants (Wolf Oil Corporation)
• Vietsea Company
• MatraX Lubricants
• Top Solutions Joint Stock Company

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