Brazilian Lubricant Market
Brazilian Lubricant Market – The Brazilian finished lubricating oil market closed 2024 with a 2.3% growth compared to the previous year, with a total of 1,531,745 cubic meters, marking a historic sales record. Imports of base oils reached 722 thousand tons, with a disbursement of US$772 million, reaching the second-largest volume in history.
The lubricant figures in 2024 are in line with the high growth of 14.1% in sales in the automotive industry and the historic records in fuel production and sales. The highest sales volume of finished oils until last year was achieved in 2013, when the market reached the mark of 1.520 million m3.
The chart below shows the 10 largest companies of the year and their respective market shares.
Base oils:
Base oil imports in 2024 reached the second highest level in history, with a total of 722 thousand tons, equivalent to approximately 802 thousand m3, behind only 2021, when imports reached 868 thousand m3.
The United States was responsible for sending 76.2% of the base oils imported by Brazil, followed by South Korea, with 4.9% and Malaysia with 4.5%, followed by Bahrain (3.9%), Qatar (3.3%) and India (2.3%) and several other countries with smaller quantities.
The figures for the production of base oils by the re-refining industry were not presented in a consolidated manner for all months by the ANP, therefore, it is not yet possible to have a precise idea of its share in the total base oil market.
The next edition of Lubes em Foco magazine will bring a detailed analysis of the Brazilian lubricants market in 2024, with comments and perspectives for 2025.
