Global Market Research Reports : Ken Research: Competitors in Thailand Lubricant Industry

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Wednesday, January 25, 2023

Growing Manufacturing Sector, developing infrastructure and rising disposable incomes to Drive the Lubricants Market in Thailand: Ken Research

Passenger Vehicle lubricants have second major share in the market as they are lower in viscosity than diesel engine oils as they required for providing swift response.
Thailand’s auto-related businesses, which employ significant number are reopening after months of coronavirus shutdowns. Thailand’s shift toward electric vehicles (EVs) could pummel the local auto industry.
Thailand’s central government is working to develop its palm oil industry, and the strategy includes promoting demand for bio-lubricants, -greases and -transformer oils, the National Palm Oil Policy Committee announced recently.

Benefits from Partnership: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning community, which has seen rapid growth in sales from 2015 to 2021. In 2022, PTT announced its partnership with Aramco to strengthen cooperation across crude oil sourcing and the marketing of refining and petrochemical products and liquefied natural gas (LNG) in Thailand.

Promotion if B10 Diesel: The government continues to promote the use of B10 diesel in a bid to support palm oil farmers and to prevent oil smuggling. Government has adopted a standard for B10 diesel – diesel containing 10% renewable ingredients. B10, a 10 percent biodiesel blend, is a standard fuel that the government says supports energy sustainability in Thailand.

Emergence of EVs: Emergence of Electric Vehicle in the country. Commercial EVs are expected to be launched in the Thai market by 2025. By 2036, the Thai government aims to have significant charging stations and electric vehicles nationwide. Introduction of Electric Vehicles and advanced machinery will increase the use of grease but plays a threat to existence of engine oil. There is still Low threat of Substitution.

Expanding Network: The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country. Majority of the automotive lubricants were consumed through Dealer network, where consumers can purchase the lubricants for their vehicles. Lubricant market players sell oils either through their online platforms or through an e-commerce player operating in Thailand. Hence the demand for online platforms have generated more sales in comparison to the Supermarts and Hypermarts channel.

Thailand Lubricant Market

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

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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

Brazil Lubricants Market Outlook To 2025

Malaysia Automotive Lubricant Market Outlook To 2025

Monday, November 28, 2022

Thailand Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up to 2026: Ken Research

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How Is Lubricant Market Positioned in Thailand

Thailand Lubricant market sales has grown over the period 2016-2021, supported by the increase in Average Price for Lubricants Per Liter in 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

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 lubricant Market Overview and Segmentation

Thailand Lubricant Market has been experienced growth with 2.1% CAGR (2016-2021) The boosting economy of Thailand has been supported by the growth of revenues generated by manufacturers offering lubricant oils to various customers across automotive and industrial sectors.

Market Segmentation of Thailand Lubricant Market

By Type: 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.

By Grade: The Thailand Lubricant Market is dominated by Mineral as people in Thailand prefer using Mineral over other grade of lubricants.

Thailand Industrial Lubricant Market Overview and Segmentation

Market Overview:

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.

Market Segmentation of Industrial Lubricant Market

By Type: Hydraulic Fluid dominated the industrial lubricants market share followed by Grease, with second largest share. Hydraulic oils differ from conventional lubricants for their characteristics which include rust and corrosion inhibition, filterability, oxidation and hydrolytic stability and anti-wear performance.

By End Use: Construction accounted for majority of share in this segment as major end user for industrial lubricants followed by General Manufacturing. The harsh condition of handling equipment in both industries has triggered the demand for lubricants by the operators.

By Distribution: Dealer network dominated the market share in comparison to Direct Sales. Most of the lubricants consumed by the Thailand industrial sector have been supplied by a widespread network of authorized and local distributors across various regions of the country.

Thailand Automotive Lubricant Market Overview and Segmentation

Market Overview:

An increase in the sales of commercial vehicles in 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.

Market Segmentation of Automotive Lubricant Market

By Type: Heavy Duty Engine Oil dominated the industrial lubricants market in this segment as the major type of lubricants followed by Passenger Vehicle Motor Oil. Heavy Duty lubricants are largely needed by commercial vehicles and light trucks which need to generate enough power as they are largely used in transport and logistics.

By End Use: Commercial Vehicles accounted majority of share in this segment as major end user for automotive lubricants followed by Passenger cars. An increase in the sales of commercial vehicles in the country from 2019 to 2021 has largely contributed to the growth in overall lubricant consumption.

By Distribution: Service Stations/Local Workshops dominated the market share followed by OEMs with second largest share. Service Stations/Local Workshops dominated the market share followed by OEMs with second largest share.

Comparative Landscape in Thailand Lubricant Market

The competition in lubricant market was observed to be Concentrated. Top players in the market are PTT Oil and Retail & The Shell Company of Thailand Limited. PTT and Shell are leaders because of their high distribution network, presence of local blending plant and high brand value. All other players such as Chevron, Idemitsu, BP-Castrol, Eneos, Siam-Pan Group and more are niche players focusing on small segment in the market. Bangchak and BP-Castrol are visionaries in the market as they have potential to become challengers in future. There are no challengers in the market as market players except PTT and Shell Thailand have comparatively low share.

Thailand Lubricant Market Outlook and Projections

The health Tech market is projected to grow at single digit CAGR (2021-2026F). Factors such Growing population, developing infrastructure, rising disposable incomes, growing middle class, and growing prevalence of chronic diseases are major factors for growth in the region. The Eastern Economic Corridor development plan for the oleochemical industry is also prominent growth driver and will drive the Thailand Lubricant Market in the near future.

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