Thailand Lubricant Market Outlook to 2026 - Driven by Growth in Demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant in the Country

The report titled “Thailand Lubricant Market Outlook to 2026- Driven by Growth in demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant in the Country”, provides an exhaustive analysis of the Lubricant market in Thailand. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by type, by grade, by end use, by distribution; growth enablers and drivers, trends and developments challenges and bottlenecks; regulatory framework; end user analysis; competitive landscape including competition scenario, market shares of major players on the basis of revenue generated. The report concludes with future market projections of each product segmentation and analyst recommendations.

Thailand Lubricant Market Overview

Thailand Lubricantmarket sales has grown over the period 2016-2021, supported by the increase in Average Price for Lubricants per Literin the country. Players in Thailand Lubricant Market are primarily engaged in marketing and distribution of petroleum products to end users’ customers; provide storage facilities, and other allied services. Many market players have Retail Station Dealerships to deliver long-term value to their retailers and other stakeholders. A wide network of OEM workshops, dealers and distributors, supermarkets and online stores used to sell the lubricants to the end users with varied margins

Thailand Lubricant Market Overview and Segmentations

Automotive Lubricants dominated the market, whereas Mineral Grade Lubricants were the most preferred by grade type in 2021. Hydraulic Fluid occupied the largest share in the overall consumption of industrial lubricants in the Thailand in 2021, contributing majorly to market share. Construction Industry accounted for majority of the demand as major Lubricant end use industries in Thailand in 2021.

The COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip. COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry.

The competition was observed to be concentrated in Lubricant with PTT Oil and Retail and The Shell company of Thailand contributing the maximum market share. Key competitive parameters include price, USP (Unique Selling Point), product portfolio, customer acquisition and promotional strategies, future plans and major clients.

Thailand Lubricants Market Segmentations:

By Type, on the Basis of Sales Volume (Mn Lts):

Automotive Lubricants have dominated the market contributing majority of share to the market against Industrial Lubricants.

By Grade, on the Basis of Sales Volume (Mn Lts):

Majority of the share for this segment was governed by Mineral Lubricants followed by semi-synthetic and synthetic lubricants.

Detailed Analysis on Thailand industrial Lubricants Market:

The harsh condition of handling equipment in both industries has triggered the demand for lubricants by the operators. Thailand’s manufacturing output for 2021 has seen a significant growth from 2020. Lubricants have important application in manufacturing sector as it ensures durability and efficiency of machines.

Thailand Industrial Lubricants Market Segmentations:

By Type, on the Basis of Sales Volume (Mn Lts):

Hydraulic Fluid dominated the industrial lubricants market share followed by Grease, with second largest share.

By End Use, on the Basis of Sales Volume (Mn Lts):

Construction accounted for majority of share in this segment as major end user for industrial lubricants followed by General Manufacturing.

By Distribution, on the Basis of Sales Volume (Mn Lts):

Dealer network dominated the market share in comparison to Direct Sales.

Detailed Analysis on Thailand Automotive Lubricants Market:

An increase in the sales of commercial vehiclesin the country has largely contributed to the growth in overall lubricant consumption. The increasing number of ships and boats being visiting the country has thus led to the growth in consumption of automotive lubricant recently.

Thailand Automotive Lubricants Market Segmentations:

By Type, on the Basis of Sales Volume (Mn Lts):

Heavy Duty Engine Oil dominated the industrial lubricants market in this segment as the major type of lubricants followed by Passenger Vehicle Motor Oil.

By End Use, on the Basis of Sales Volume (Mn Lts):

Commercial Vehicles accounted majority of share in this segment as major end user for automotive lubricants followed by Passenger cars.

By Distribution, on the Basis of Sales Volume (Mn Lts):

Service Stations/Local Workshops dominated the market share followed by OEMs with

second largest share.

Future Outlook and Conclusion:

Oil demand is expected to continue to expand over the period 2022-2026F in Thailand to fulfill the consumption requirements of both industrial and automotive sectors by processing mineral oils into semi-synthetic and synthetic oils. The market is expected to witness enhancing use of synthetic lubricants over long term, due to the growing awareness of people to switch to better quality lube oils for long term protection of the engines, still mineral grade lubricants are expected to be preferred end user’s choice. While metalworking fluid cater to very niche market but due to high price give high profit. Construction is the largest end-user segment with XX% share for Industrial lubes followed by manufacturing holding nearly XX-XX% and then metal & mining XX% then others. The growth of greases lies in range X-X% which is less than hydraulic oil, due to increasing chances of leakages in vehicles which is prevented by hydraulic oil as it prevents seal damage. For Auto Lube sales, retail shops, service stations (i.e. retail) is a most popular distribution channel in Thailand as company such as expanding it retail network viz., Bangchak plans to add around XXX new service station in 2022.

Key Segments Covered in the report

Thailand Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts):

• Industrial Lubricant
• Automotive Lubricant

By Grade, on the Basis of Sales Volume (Mn Lts):

• Mineral
• Semi-Syntenic
• Synthetic

Thailand Industrial Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts):

• Hydraulic Fluid
• Gear Oil
• Grease
• Metalworking Fluid
• Others (Turbine Oil, Compressor Oil, etc.)

By End Use, on the Basis of Sales Volume (Mn Lts):

• Construction and Mining
• General Manufacturing
• Metal Production
• Power Generation
• Food Processing
• Others (Agriculture, Medical, etc.)

By Distribution Channel, on the Basis of Sales Volume (Mn Lts):

• Dealer Network
• Direct Sales

Thailand Automotive Lubricants Market:

By Type, on the Basis of Sales Volume (Mn Lts):

• Heavy-Duty Diesel Engine Oil
• Passenger Vehicle Motor Oil
• Transmission Fluids
• Hydraulic Oil
• Greases
• Others

By End Use, on the Basis of Sales Volume (Mn Lts):

• Commercial Vehicles
• Passenger Cars
• Motor Cycles
• Marine
• Others (Aviation, etc.)

By Distribution Channel, on the Basis of Sales Volume (Mn Lts):

• Service stations/Local Workshops
• OEMs
• Supermarkets/ Hypermarkets
• Online

Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• Metal Production Industry Base-oil Companies
• Additive Companies
• Metal Production Industry
• Power Generation Industry
• Food Processing Industry
• Agriculture Industry
• Medical Industry
• Automotive OEMs
• Automotive Dealerships
• Government Agencies
• Consulting and Advisory Firms

Time Period Captured in the Report:

• Historical Period: 2016-2021
• Forecast Period: 2021-2026F

Companies Covered:

• PTT Oil and Retail
• The Shell Company of Thailand
• Bangchak Corporation
• BP-Castrol (Thailand)
• Esso (Thailand)
• Idemitsu Lubricants (Thailand)
• Siam Pan Group
• Chevron Thailand
• Thai Petroleum &Trading
• Valvoline

Key Topics Covered in the Report

• Thailand Lubricants Market Overview
• Ecosystem of Lubricants Market
• Business Cycle and Genesis of Thailand Lubricants Market Overview
• Value Chain Analysis for Thailand Lubricants Market
• SWOT Analysis for Thailand Lubricants Market
• Porter’s Five Forces Analysis Thailand Lubricants Market
• Growth Drivers in Thailand Lubricants Market
• Bottlenecks and Challenges in Thailand Lubricants Market
• Trends and Developments in Thailand Lubricants Market
• Government Regulations
• End User Analysis of Thailand Lubricants Market
• Covid-19 Impact on Thailand Lubricants Market
• Competitive Landscape in Thailand Lubricants Market
• Strengths and Weaknesses of the Major Players in Thailand Industrial Lubricant market
• Strengths and Weaknesses of the Major Players in Thailand Automotive Lubricant market
• Cross Comparison of Major Players in Thailand Industrial Lubricant Market
• Cross Comparison of Major Players in Thailand Automotive Lubricants Market
• Product Portfolio of Major Players in Thailand Industrial Lubricants Market
• Product Portfolio of Major Players Thailand Automotive Lubricants Market
• Detailed Analysis on Thailand Lubricants Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2022-2026F)
• Detailed Analysis on Thailand Industrial Lubricants Market (Market Segmentation, 2016-2022; Future Market Segmentation, 2022-2026F)
• Detailed Analysis on Thailand Automotive Lubricants Market (Market Segmentation,2016- 2022; Future Market Segmentation, 2022-2026F)
• Market Opportunity and Analyst Recommendations

 

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