Advancing Technologies, Investment Incentives and Government Initiatives driving the Lubricant Market in Thailand: Ken Research
New Entrants in Thailand Lubricant industry have an opportunity to increase their sales by tying up with the industries in the untapped manufacturing clusters. Growing e-commerce industry in the Thailand is also expected to incentivize the market revenues.
Impact of boost in the sales of Automobiles: The boost in the sales of automobiles in the country has significantly led to an increase in the consumption of automotive lubricants over industrial lubricants. The increased sales were also supported by the continuous improvement in the refining process of the existing players and the upgradation of refineries by the lubricants giants operating in the country. The industrial sector in Thailand has been growing over the recent past. This has led to the installation of more machinery and equipment required by the market players operating in construction, manufacturing, agriculture, mining, iron and steel, electricity and healthcare sector.
Manufacturing Sector: Thailand’s manufacturing sector, specifically, grew significantly by double digit CAGR as exports reached pre-pandemic levels accounting for significant percent of the country’s total production. Increasing number of machineries installed in the manufacturing plants has increased the demand for lubricants in the country.
Fake Lubricants: The prevalence of counterfeit lubricants is also prevalent in Thailand as in other ASEAN countries, both domestic as well as export market.
This significantly affects the participation of players who can provide quality lubricant to end users in Lubricants Market in Thailand.
Impact of Covid-19: In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of double digit during the year, followed by heavy equipment. Industrial consumptions including Construction for Oil and Lubricants dropped from the year 2019 to 2020.
The report titled “Thailand Lubricants 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 market is expected 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.
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
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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
For more information on the research reports, refer to below link: –
Thailand Lubricant Market Outlook to 2026: Ken Research
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