Vietnam Lubricant Market Outlook to 2026F - Driven By Growth in Crude Oil Import and Rising Sales of Motorcycles in the Country

The report “Vietnam Lubricant Market Outlook to 2026F- Driven By Growth in Crude Oil Import and Rising Sales of Motorcycles in the Country” provides a comprehensive analysis of the potential of lubricant Industry in Vietnam. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by types of lubricants, by end users, by distribution channel; growth enablers and drivers, challenges and bottlenecks, trends and development in Vietnam Lubricant market; regulatory framework; end user analysis, industry analysis, competitive landscape including competition scenario, strength and weaknesses of major players in the market. The report concludes with future market projections of lubricants segmentation and analyst recommendations.

Detailed Analysis on the Vietnam Lubricant Market:

Vietnam has 50+ Lubricants Manufacturers. At present, the Vietnam Lubricant Market is at growth stage with establishment of many foreign players in the country such as Shell, Total &others. More market players are expected to enter into lubricant industry independently or with collaboration to cater rising demand from end users.

Government policies such as removal in import tax for cars imported from ASEAN region resulted in reduction of new car prices, and increasing car sales, which has further driven the growth of Automotive Lubricant industry post 2018.

The growth of revenue generated by the manufacturers offering lubricant oils to various customers across automotive and industrial sectors has been supported by the boosting economy of the Vietnam especially after pandemic.

Vietnam Lubricants Market Segmentations:

By Types of lubricants:

Automotive lubricant have dominated the market contributing majority of share to the market against the industrial lubricant.

By grade of lubricant:

Mineral oil contributed more to the market contributing majority of share in comparison to semi synthetic and synthetic oil for lubricant as industry mostly prefer mineral for lubrication.

By end use in automotive & industrial lubricant:

Manufacturing industry added major contribution to overall GDP in Vietnam. Lubricants play major application in Metal Production in Vietnam. The growth in the industry is due to sharply rising manufacturing projects & Inflow of steel projects in the country.

By distribution channel in automotive & industrial lubricant:

Most of the lubricants consumed by the industrial sector of the Vietnam have been supplied by the widespread network of authorized and local distributors across various regions of the Vietnam. However, the direct sales of lubricants in Vietnam is expected to grow at a faster rate as companies started focusing on increasing margins and overall profits by reducing middleman.

Competitive Landscape in Vietnam Lubricants Market:

Vietnam lubricant market is moderately consolidated market with Castrol BP as the sole market leader in the market owing to their highest share in lubricant market across Indonesia. Other players in the market includes Shell Vietnam, Petrolimex, Total Vietnam Company Ltd, Mekong Petrochemical JSC, Motul Vietnam JSC, AP Saigon Petro JSC, PTT Lubricants, and more. Companies in lubricant market in Vietnam are competing based product price, brand value and Marketing, Product portfolio and distribution network.

Vietnam Lubricants Market Future Outlook and Projections:

With fluctuations in prices of crude oil, the prices for Automotive as well as Industrial lubricants will increase in the forthcoming years. Increasing sales of vehicles in the country further expected to increase lubricants demand by 2026. In addition, the overall market share of automotive lubricants seems to decline due to fast moving industrial sector in the country mainly manufacturing and construction industry as country is focusing on developing its infrastructure in coming years.

Key Segments Covered

Vietnam Lubricant Market:

By Type of automotive lubricant

• Heavy duty diesel engine oil
• Motorcycle oil
• Passenger vehicle motor oil
• Grease

By Type of Industrial Lubricant:

• Process oil
• Hydraulic oil
• Gear oil
• Grease

By Type of end use of automotive lubricant:

• Commercial vehicles
• Motor cycle
• Passenger cars
• Marine
• Aviation

By Type of distribution channel in automotive lubricant:

• Dealers and distributers network
• OEM workshops and service station
• Online retail

By Type of end use of industrial lubricant:

• General manufacturing
• Metal & mining
• Construction
• Power generation

By Type of distribution channel in industrial lubricant:

• Dealers and distributors
• Direct sales

Key Target Audience

• Lubricant companies aiming to establish into Vietnam
• Vietnam lubricant industries
• Government Bodies & Regulating Authorities
• Automotive Industry
• Industrial industry
• Motorcycle company
• Lubricant dealer and users

Time Period Captured in the Report:

• Historical Year: 2016-2021
• Base Year: 2021
• Forecast Period: 2021- 2026F
• Companies Covered:

• Castrol BP Petco Co Ltd
• Shell Vietnam
• Petrolimex
• Total Vietnam Company Ltd
• Mekong Petrochemicals JSC
• Caltex Lubricants Vietnam Ltd
• JX Nippon Oil & Energy Vietnam Co Ltd
• AP Saigon Petro JSC
• ENSOS Vietnam Co Ltd
• Katsum Trading & Service JSC
• PTT Lubricants

Key Topics Covered in the Report

• Country Overview of Vietnam
• Vietnam Trade Analysis
• Lubricant Supply and Demand Statistics, 2020
• Harvey Ball Analysis of Preferred Lubricants Companies in ASEAN Countries
• Vietnam Automotive Industry, 2021
• Region wise Cars and motorcycles Registration in Vietnam, 2021
• Cross comparison of Southeast Asian Countries on the basis of Number of Motor Vehicles and Sold by Country in 2021
• Ecosystem of major Entities in Vietnam Lubricants Market
• Business Cycle and Genesis of Vietnam Lubricants Market
• Timeline of major Players in Vietnam Lubricants Market
• Value Chain Analysis for Vietnam Lubricants Market
• Vietnam Automotive & Industrial Lubricants Market Segmentation, 2021
• SWOT Analysis for Vietnam Lubricants Market
• Porter’s Five Forces Analysis of Vietnam Lubricants Market
• Growth Enablers in Vietnam Lubricants Market
• Bottlenecks and Challenges in Vietnam Lubricants Market
• Trends and Developments in Vietnam Lubricants Market
• Vietnam Lubricants Market Regulations
• Tax Rates for Lubricants in Vietnam, 2018-2020
• End User Analysis of Vietnam Lubricants Market
• Pricing Analysis of Automotive and Industrial Lubricants, 2021
• Strengths and Weaknesses of the major Industrial & Automotive Lubricant market Players
• Cross Comparison of Major Players in Vietnam Lubricants Market
• Covid-19 Impact on Vietnam Lubricant Market
• Future Outlook and market Size for Vietnam Lubricant Market, 2021-2026F
• Future Segmentation for Vietnam Industrial Lubricant Market, 2026F
• Future Segmentation for Vietnam Automotive Lubricant Market, 2026F
• Market Opportunities and Analyst Recommendations
• Analyst Recommendations
• Research Methodology

 

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