Core Insights - The global lubricants market is projected to reach $139.86 billion in 2024 and grow to $162.52 billion by 2031, with a CAGR of 2.2% [4] - Synthetic lubricants are expected to dominate high-end applications due to their high-temperature stability and longevity, while bio-based lubricants are gaining traction driven by environmental policies, particularly in Europe [4] - China is identified as an emerging market with growth rates significantly higher than the global average [4] Global Leading Companies - Royal Dutch Shell holds the largest market share globally, with approximately 12% of sales in 2024, and its "Pennzoil" synthetic lubricant series commands over 30% market share in North America [4] - Exxon Mobil focuses on the high-end market, with its "Mobil 1" fully synthetic lubricant widely used in the aerospace sector [5] - Sinopec (China Petroleum & Chemical Corporation) leads the domestic market with its "Great Wall Lubricants" brand, targeting the mid-to-low-end market, and is expected to see an 8% year-on-year sales growth in 2024 [5] Competitive Landscape - The first tier of competitors includes Shell, Exxon Mobil, and Chevron, collectively holding about 35% market share and dominating high-end market pricing [6] - The second tier consists of Total, Petrochina, and Lukoil, with a combined market share of approximately 25%, focusing on regional strategies to expand into emerging markets [6] - The third tier comprises local small and medium-sized enterprises that target specific application scenarios, such as food-grade lubricants, leveraging cost-performance advantages to capture niche markets [6]