Rising demand of personal vehicles with increasing population and future expansion strategies of market players to drive the Lubricants Market in Philippines: Ken Research

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Philippines Lubricants Market Ecosystem

The Philippines lubricants market is fragmented with too many lubricant manufacturers operating in the industry. Petron and Shell are the dominant players in Philippines lubricants market.

Key Findings

• Construction industry added major contribution (9.8%) to the overall GDP in Philippines in 2021. The average volume of production for the manufacturing sector in the Philippines was 81.5% in 2021 compared to 54.2% in 2020.
• In 2021, the total volume of motorcycles and scooters sold in the Philippines reached ~1.4 Mn units reflecting an increase of 19.1% sales in comparison to total sales volume of 1.21 Mn in 2020.
• Motor Vehicles sales in Philippines increased by 20.0% in 2021 with sales volume of 268,488 units in comparison to 223,793 units in 2020. Commercial vehicles registered higher sales volume with 183,228 units.

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Increasing Population and Rise in the Disposable Personal Income: Growing middle-class incomes, higher percentage of millennial population and the subsequent increasing demands of two-wheelers and four-wheelers is increasing the production and sales of new vehicles will fuel more to the lubricants demand in the Philippines in upcoming years.

Expansion Strategies of Market Players in future: Petron Corporation Philippines announced completion of the constructing power plant having capacity of 184 MW by 2022 end that will cater to the power requirements of its Bataan refinery. Filipinas Shell Corporation Philippines plans to open 60 to 80 mobility sites per year. Other market players are also planning to expand customer reach by investing actively in growing number of service stations providing products and maintain extensive dealership network.

Future of Philippines Lubricants Market: Philippines Lubricants Market is expected to grow at a double digit positive CAGR of 14.4% during 2021-2026F. Owing to the booming energy sector of the Philippines, the country is anticipated to witness an increase in crude oil imports to meet the growing demand various industries under both the Industrial and Automotive sectors over the long term. Dealers Network are expected to expand their business via online and in-shop channels to offer both local and branded lubricants in distinguished quantities demanded by the customers.

The report titled “Philippines Lubricants Market Outlook to 2026F– Driven by Growth in Crude Oil Import and Rising Sales of Commercial Vehicles in the Country” by Ken Research provides a comprehensive analysis of the potential of Lubricants in Philippines. 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.

Key Segments Covered: -

Philippines 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

Philippines Industrial Lubricants Market:

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

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

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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

Philippines 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
• Gear Oils

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

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

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

• Dealer Network
• OEM Workshops/Service stations/Local Workshops
• Supermarkets/ Hypermarkets
• Online

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Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• 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:

Lubricants Manufacturers

• Petron Corporation
• Pilipinas Shell Petroleum Corporation
• Caltex (Chevron Philppines)
• Phoenix Petroleum Philippines, Inc.
• SEAOIL Philippines Inc.
• Unioil Petroleum Philippines Inc.
• Liquigaz Philippines Corporation
• Castrol Philippines Inc.
• Total Energies Philippines

Key Topics Covered in the Report

• Philippines Lubricants Market Overview
• Ecosystem of Philippines Lubricants Market
• Business Cycle and Genesis of Philippines Lubricants Market
• Value Chain Analysis for Philippines Lubricants Market
• Growth Enablers in Philippines Lubricants Market
• Bottlenecks and Challenges in Philippines Lubricants Market
• Philippines Lubricants Market Regulations
• End User Analysis of Philippines Lubricants Market
• Vendor Evaluation and Selection Process in Philippines Lubricants Market
• Covid-19 Impact on Philippines Lubricants Market
• Competitive Landscape in Philippines Lubricants Market
• Product Portfolio of Major Players Philippines Automotive Lubricants Market
• Market Opportunity and Analyst Recommendations

For more insights on market intelligence, refer to the link below: -

Future Outlook of Lubricants Market in Philippines

Related Reports by Ken Research: -

Malaysia Automotive Lubricant Market Outlook To 2025

Brazil Lubricants Market Outlook To 2025

Vietnam Lubricants Market Outlook To 2023

Companies need to plan competitive strategies with a focus on extending their offerings beyond the core products to ensure business sustainability in Philippines Lubricants Market: Ken Research

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1. Commercial Vehicles accumulated for a significant demand as a major Lubricant end user industry in Philippines in 2021

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In 2021, the total volume of motorcycles and scooters sold in the Philippines reached ~1.4 Mn units reflecting an increase in sales in comparison to total sales volume of ~1.21 Mn in 2020. Moreover, an increase in the sales of commercial vehicles in the country has largely contributed to the growth in overall lubricant consumption.

In addition to this, passenger vehicles have been the second largest consumers of lubricants in the Philippines 2021. The sales of passenger vehicles in the country registered significant growth. Furthermore, the presence of other vehicles in the Philippines are comparatively much more than the aircrafts and railways operating and visiting the country. Thus, these segments have a limited demand for lubricants.

2. The Philippines Lubricants Market generated high revenue in 2021 owing to the country’s high oil imports

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The boosting economy of the Philippines has been supported by the growth of revenues generated by the manufacturers offering lubricant oils to various customers across automotive and industrial sectors.

At present, the Philippines Lubricant Market is at growth stage with establishment of many national and international companies such as Phoenix, Shell, Chevron and more. It is highly dependent on crude oil import from other nations. Surprisingly crude oil prices continued to soar in May 2022 amid supply concerns and the prolonged Russia-Ukraine war.

3. Online Channel sales by companies are expected to attributed majority of share out of the total sales for automotive lubricants followed by Dealer Network in 2026F

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The global pandemic has led consumers to migrate from in-store purchasing to online which includes online purchase of industrial as well as automotive lubricants from online platforms hence online channel are expected to have comparatively more market share than dealers and distributors.

Dealers Network are expected to expand their business via online and in-shop channels to offer both local and branded lubricants in distinguished quantities demanded by the customers.

Increase in Lubricants demand due to growth in Industrial use and rising vehicles sales in automotive industry in the country is driving Lubricants Market in Philippines: Ken Research

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Focus on Consumer pain points, Growing end-user industry and Entry of Online portals in the market are major factors contributing towards development of Lubricants Market in Philippines.

Growing Industrial Sector: Surging construction and mining industry in the Philippines has resulted in enhanced application of lubrication in the construction & mining machinery being used in the country. Other industrial sectors such as manufacturing, metal production, power generation, and more have been growing in the Philippines. This has led to installing more machinery and equipment required by the market players operating in the construction, manufacturing, agriculture, mining, iron and steel, electricity and healthcare sector.

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Escalating Automotive Industry: The boosting sales of automobiles in the country have significantly led to the increased consumption of automotive lubricants than 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 lubricant’s giants operating in the country. The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country.

Price of Lubricants and Counterfeit poses major challenges in the country: One of the biggest challenges in the market is the changing prices of finished products and raw materials, which in turn impacts the margins earned by the sellers of lubricants in the Philippines. The prevalence of counterfeit lubricants is also prevalent in Philippines as in other ASEAN countries, in 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 Philippines.

Covid-19 Impact: The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols resulted in the contraction of packaging product sales during the initial months of the pandemic in the country. While the Power and Transport Sector faced major setback during pandemic, the consumption rate of oil and lubricants remains positive in Industrial and Non-Energy Use Sectors in Philippines.

The report titled “Philippines Lubricants Market Outlook to 2026F– Driven by Growth in Crude Oil Import and Rising Sales of Commercial Vehicles in the Country” by Ken Research provides a comprehensive analysis of the potential of Lubricants in Philippines. 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.

Key Segments Covered: -

Philippines 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

Philippines Industrial Lubricants Market:

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

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

To Know More about industry trends, Request a free Expert call

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

Philippines 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
• Gear Oils

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

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

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

• Dealer Network
• OEM Workshops/Service stations/Local Workshops
• Supermarkets/ Hypermarkets
• Online

Visit this Link Request for a custom report

Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• 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:

Lubricants Manufacturers

• Petron Corporation
• Pilipinas Shell Petroleum Corporation
• Caltex (Chevron Philppines)
• Phoenix Petroleum Philippines, Inc.
• SEAOIL Philippines Inc.
• Unioil Petroleum Philippines Inc.
• Liquigaz Philippines Corporation
• Castrol Philippines Inc.
• Total Energies Philippines

Key Topics Covered in the Report

• Philippines Lubricants Market Overview
• Ecosystem of Philippines Lubricants Market
• Business Cycle and Genesis of Philippines Lubricants Market
• Value Chain Analysis for Philippines Lubricants Market
• Growth Enablers in Philippines Lubricants Market
• Bottlenecks and Challenges in Philippines Lubricants Market
• Philippines Lubricants Market Regulations
• End User Analysis of Philippines Lubricants Market
• Vendor Evaluation and Selection Process in Philippines Lubricants Market
• Covid-19 Impact on Philippines Lubricants Market
• Competitive Landscape in Philippines Lubricants Market
• Product Portfolio of Major Players Philippines Automotive Lubricants Market
• Market Opportunity and Analyst Recommendations

For more insights on market intelligence, refer to the link below: -

Future Outlook of Lubricants Market in Philippines

Related Reports by Ken Research: -

Malaysia Automotive Lubricant Market Outlook To 2025

Brazil Lubricants Market Outlook To 2025

Vietnam Lubricants Market Outlook To 2023

Philippines Lubricant Market is expected to be driven by Growing Manufacturing Establishments and Increasing Crude Oil Imports: Ken Research

Surging construction sector, escalating automotive industry, entrance of foreign players, growing marine industry and increasing Ro-Ro services are the major factors which are expected to fuel the Philippines lubricants market in future.

Ken Research announced its latest publication on “Philippines Lubricants Market by Type (Mineral, Semi-Synthetic and Synthetic), by Application (Automotive – Passenger, Commercial, Marine and Aviation and Industrial – Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical) - Outlook to 2021” suggested a rapid growth in the Philippines lubricants market, majorly driven by boosting crude oil imports, thus assisting market players to offer more lubricants in the country. Influx of foreign brands and rising demand of the population to switch to synthetic lube oils are attracting large number of potential players to enter the space. The market is further expected to witness an incline in revenues and consumption due to the anticipated increase in the sales of automobiles and the expansion of industrial sector in the Philippines, thus leading to augmented demand for automotive and industrial lubricants.

The boosting economy of the Philippines has been supported by the growth of revenues generated by the manufacturers offering lubricant oils to various customers across automotive and industrial sectors. Lubricant market of the Philippines is highly competitive with few players operating in the space to cater the fluctuating demands of the customers.  The market has been dominated by the sales of products offered by global lubricant manufacturers including Shell and Exxon Mobil. The rising demand for energy resources led to the increase use of lubricants across automotive and industrial sectors of the country.

Increasing number of machinery installed in the industrial plants to boost the operations has increased the demand for lubricants in the country.  Assembly lines and other machines used in the manufacturing industry need lubrication to work with precision and last long. Demand for lubricants by the manufacturing sector has witnessed an increase as shortage of oils and greasing in machines can cause them to malfunction, resulting in losses and delay in project deliveries. The growth in imports of crude oil has further led to an increase in the quantities of lubricants being refined by the manufacturers in the Philippines. This has boosted the overall revenues of the market by offering more lubricants to fulfill the growing demand in the country overtime. Lubricant manufacturers and importers not only compete in terms of price, but also on the quality that should conform to the European standards. Market players faced stiff competition in expanding their dealership networks across the islands of the Philippines, where goods were to be transported through ships.

Key Topics Covered in the Report

Philippines Lubricant Distributors

Opportunities in Lubricant Industry

Gear Oils Industry Philippines

Shell Market Share Philippines

Shell Lubricant Price Philippines

Brake Fluid Market Philippines

Lubricating Oil Sales in Philippines

Automotive Lubricant Market Growth

Chevron Lubricant Best Selling Philippines

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/philippines-lubricants-market/142268-100.html

Related Reports by Ken Research   

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/south-africa-lubricant-market-report/42049-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/thailand-lubricant-market/142264-100.html

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Ken Research

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