PUBLISHER: The Business Research Company | PRODUCT CODE: 1929010
PUBLISHER: The Business Research Company | PRODUCT CODE: 1929010
Asphalt is a dense, adhesive, and dark-colored liquid or semi-solid derivative of petroleum primarily employed for the surfacing of roads, flooring, and roofing. On the other hand, lubricating oil and grease pertain to a class of refined oils specifically designed to minimize wear and friction between metallic surfaces.
The primary categories encompass asphalt and various petroleum products. Asphalt, a composite composed of aggregate particles, binder, and filler, finds extensive use in the construction and upkeep of roads, parking lots, railway tracks, ports, airport runways, bike paths, pedestrian walkways, and recreational and sports facilities. This versatile substance is applied across a range of areas, including road construction, waterproofing, recreational surfacing, and other specialized applications. Moreover, these materials serve a multitude of industries, including power generation, transportation, metallurgy and metalworking, food and beverage, chemicals, and various other sectors.
Tariffs have influenced the asphalt lubricating oil and grease market by increasing costs of crude derivatives, additives, and refined petroleum inputs. These impacts are most pronounced in asphalt paving and industrial lubricant segments, especially in asia pacific and europe. Higher raw material costs have affected pricing for infrastructure and industrial users. Smaller producers face margin pressures due to import duties. Positively, tariffs are encouraging domestic refining and localized lubricant blending operations.
The asphalt, lubricating oil and grease market research report is one of a series of new reports from The Business Research Company that provides asphalt, lubricating oil and grease market statistics, including asphalt, lubricating oil and grease industry global market size, regional shares, competitors with a asphalt, lubricating oil and grease market share, detailed asphalt, lubricating oil and grease market segments, market trends and opportunities, and any further data you may need to thrive in the asphalt, lubricating oil and grease industry. This asphalt, lubricating oil and grease market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The asphalt, lubricating oil and grease market size has grown strongly in recent years. It will grow from $361.07 billion in 2025 to $380.29 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to expansion of road construction projects, growth in automotive usage, industrial machinery expansion, demand from power generation sector, urban infrastructure development.
The asphalt, lubricating oil and grease market size is expected to see strong growth in the next few years. It will grow to $479.77 billion in 2030 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to infrastructure modernization programs, rising vehicle parc, demand for long life lubricants, industrial automation growth, increased construction spending. Major trends in the forecast period include rising demand for high performance lubricants, growth in road infrastructure development, increasing use of synthetic and specialty greases, expansion of waterproofing and roofing applications, rising focus on durable asphalt formulations.
The production of petroleum-based lubricants is expected to drive the growth of the Asphalt, Lubricating Oil, and Grease Market going forward. Producers of petroleum-based lubricants refine crude oil into base oils and finished lubricant products for use in industrial, automotive, and machinery applications. This driver is strengthening as demand for lubricant products rises alongside expanding industrial and manufacturing activities, prompting producers to increase output and distribution capacity. Enhanced activity by these producers improves the availability of lubricants for downstream applications. For instance, in 2025, according to GOV.UK, a UK-based government agency, total demand for petroleum products increased by 2.0% in 2024 compared to 2023. Therefore, petroleum-based lubricant production is driving the growth of the Asphalt, Lubricating Oil, and Grease Market.
The increasing demand for lubricants is anticipated to drive the growth of the asphalt, lubricating oil, and grease market in the coming years. Lubricants, such as asphalt, lubricating oil, and grease, are substances used to reduce friction and wear between moving surfaces. For instance, in 2024, according to Trading Economics, a US-based economic indicator, the imports of fuels and lubricants in Australia averaged USD 1,034.01 million (1,510.60 AUD million), with a peak of USD 4,792.87 million (7,002.00 AUD million) in 2022. This growing demand for lubricants is driving the growth of the asphalt, lubricating oil, and grease market.
Major companies operating in the asphalt, lubricating oil, and grease market are focusing on developing technological advancements such as synthetic high-performance base fluids to improve thermal stability, oxidation resistance, and load-carrying capacity in lubricants. Synthetic high-performance base fluids use engineered molecules, such as saturated polyol esters, that offer superior chemical and physical properties compared with conventional mineral oils, enabling longer equipment life, enhanced wear protection, and improved energy efficiency. For instance, in 2025, Perstorp AB, a Sweden-based specialty chemicals company, launched the Synthetic-EF portfolio-a range of synthetic fluids designed for high-performance lubricants. These products provide improved thermal stability, oxidation resistance, and environmental compliance, supporting industrial and automotive lubricants that require durable, efficient, and sustainable formulations.
Major companies operating in the asphalt, lubricating oil and grease market are Exxon Mobil, Royal Dutch Shell, Saudi Aramco, BP plc, Suncor Energy Inc, Husky Energy Inc, Chevron Corporation, Total S.A., Valvoline Inc., Fuchs Petrolub SE, Petro-Canada Lubricants Inc., HollyFrontier Corporation, Sonneborn LLC, Red Giant Oil Company, Valero Energy Corporation, Imperial Oil Limited, Gazprom Neft, Nynas AB, Calumet Specialty Products Partners L.P., CITGO Petroleum Corporation, Phillips 66, PetroChina Company Limited, Indian Oil Corporation Limited, SK Lubricants Co. Ltd.
North America was the largest region in the asphalt, lubricating oil, and grease market in 2025. Asia-Pacific was the second largest region in the asphalt, lubricating oil, and grease market. The regions covered in the asphalt, lubricating oil and grease market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the asphalt, lubricating oil and grease market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The asphalt, lubricating oil, and grease market consists of sales block asphalt, asphalt paving mixture, asphalt shingle, coating materials. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Asphalt, Lubricating Oil And Grease Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses asphalt, lubricating oil and grease market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for asphalt, lubricating oil and grease ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The asphalt, lubricating oil and grease market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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