Wednesday, November 8, 2017

Philippines Lubricant Market is expected to Reach USD 690 Million by 2021: Ken Research

Philippines Lubricant Market by Application (Automotive and Industrial), Philippines Lubricant Market by Type (Mineral, Semi Synthetic and Synthetic), Philippines Automotive Lubricant Market by End Users (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Automotive Lubricant Market by Distribution Channels (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Industrial Lubricant Market by End Users (Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical),  Philippines Industrial Lubricant Market by Distribution (Distributors, OEM Workstations and Others, Trends and Developments, Market share of Major Players (Shell, Chevron, Petron, Exxon Mobil, Phoenix, Castrol and Others), Future Outlook and Projections
  • Lubricants market in the Philippines is expected to gain high revenue in the future due to continuous increase in the sales of automobiles in the country.
  • Boosting industrial sector with increasing number of manufacturing establishments is expected to assist market in the growth of consumption and revenues.
  • Growing numbers of domestic and global players in the space are anticipated to be among the major factors driving the overall lubricant market in the Philippines.
Lubricant market of the Philippines is highly competitive with few players operating in the space to cater the fluctuating demands of the customers.  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 of various sectors over the long term. The initiative of the government and tourism department with a long term view to connect all islands of the Philippines through sea route is expected to enhance the marine transportation, thereby leading to more lubricants being consumed by the ships and boats. Moreover, the growing concept of RO-RO services for intra-island trade and tourism is anticipated to boost the overall consumption of lubricants during long term.
Automotive and transport industry fleet size has been the largest consumer of lubricants in the Philippines during 2016. The overall lubricant market has grown due to the fleet of vehicles, which has been amplifying over the period 2011-2016. Rising trade due to the growing industries in the Philippines is estimated to be the major factor behind the increasing sales of commercial vehicles in the country over the recent future, there by having a positive impact on the consumption of lubricants. The growing manufacturing plants set up by both domestic and global players across various industries are also anticipated to augment the consumption of industrial lubricants in the country.  Increasing number of machinery to be installed in the industrial plants is expected to boost the demand for lubricants in the country.  Revenues from sales of lubricants to the automotive sector are projected to incline due to increasing number of customers switching to the use of expensive semi-synthetic and synthetic lube oils.
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.
Key Topics Covered in the Report
Philippines Lubricant Market
Industry Growth Lubricant Philippines
Opportunities in Lubricant Industry
Opportunities in Lubricant Industry
Lubricant Consumption in Philippines
Shell Lubricant Price Philippines
Philippines Lubricant Distributors
Automotive Lubricant Market Growth
Revenue Lubricating Oil in Philippines
Synthetic Lubricant Share in Philippines
Mineral Oil Lubricant Market Philippines
Hydraulic Oil Industry Size Philippines
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Egypt Car Finance Market Size in Terms of Credit Disbursed in USD Million, 2011-2016- Ken Research

The financial services system in Egypt is less developed in comparison to other countries. The local inhabitants are less aware of the financing options available for them. Financial inclusion is not practiced within the country. The state owned banks that have a considerably equal reach in both rural and urban areas dominate the banking system, possessing nearly 70% share in the market as against the private banks. Auto & Car Loans in Egypt, New Car Sales in Egypt, Interest Rate Car Loan in Egypt, Used Car Sales in Egypt, Used Car Sales in the Egypt They lag in efficiency as well as in terms of financial intermediation in comparison with the private banks that concentrates only in urban areas.
Accessibility to finance is a major factor that influences the growth of any financing market of a country. In Egypt financing segment is dominated by the banks.
The car finance market has always been dominated by banks. However, dealership financing also has a significant role in the market. People in the country are largely dependent on dealership financing in the country as the terms and conditions and the procedures of financing through a dealer is less complex.
Egypt car finance market has showcased a consistent growth trend until 2015 during the review period, 2011-2016 at a CAGR of ~%. In 2016, there was a fall in the credit disbursement for passenger and commercial cars as a result of the macro economic challenges faced by the country. The growth exhibited by the market during the initial five years of the review period was supported by factors such as increasing demand for new and used cars, rising car prices, growth in interest rates and other factors.
Which Car Is Financed The Most? New Or Used Car?
Banks and private financing sector in Egypt finances both new and used passenger and commercial cars. The major difference is in the interest rate and the minimum salary requirement based on which the customer avails the car loan. Used car finance bears a higher interest rate compared to the new car finance. The market is dominated by new car finance with a share of ~% as of 2016 on the basis of credit disbursed. The past five years’ trend displays that, though the market is dominated by new car finance, used car finance is also gaining significant rise in the share every year during the review period, 2011-2016. Major factors that influence a person to choose a financing option at the time of a car purchase are their income and the car’s price. Generally, new cars are priced higher than used cars. Average price of a new car in Egypt is EGP ~ and the average price of a used car is EGP ~. The economic and financial condition of the country clearly depicts that the average disposable income of households are considerably moderate. Thus, for buying a new car, people in the country prefer to depend on a financing option available. Moreover, due to the high value of the new car the credit disbursed for new car will also be higher in comparison with a used car. The penetration of new car finance in 2016 was recorded as ~%.
Used cars were priced much lower than a new car during the beginning of the review period due to which paying off its price in lump sum was not a huge burden for a salaried individual or a taxi driver. Furthermore, the amount lent for a used car will be smaller since the car’s value is smaller.
However, it can be observed that the credit disbursed for used cars have also increased over the years. This is due to the increase in the prices and the demand for used cars. During 2016, the credit disbursed for both new and used cars fell by ~% and ~% respectively. This was due to decline in the sales of both new and used cars due to the rise in the car prices amid the foreign reserve crisis, and devaluation of the currency. The used market had showcased a price rise of ~% in 2016 against 2015, due to the rise of new car prices. The price increase in new cars segment has forced the owners of used cars to delay the decision of selling them, expecting a further rise in the price.
Used cars attract a higher rate of interest and generally the minimum salary requirement for used cars is also high. The maximum amount of loan granted in case of used cars also usually lesser than a new car.
The credit disbursed for both new and used cars were impacted by the weakening of Egyptian pound that made the imports of components expensive. The car manufacturing in Egypt is an import driven market and as the imports becomes expensive the cost of production increases that directly raises the product’s selling price.
In Egypt, the maximum repayment period of car finance by the banks is up to seven years and private financing is extended up to five years. This applies for both new and used cars. On the basis of number of new cars financed, the market is dominated by tenure of five years with a share of ~% in 2016. Major factors that influences the choice of tenure by the customers is the ticket size of the car and the repayment capacity of the borrower. The major reason for the preference towards a longer tenure is the higher ticket size of a new car. A new car costs high and the installment amount to be paid by the customer would be higher in case of short tenure. Another major factor that has raised the share of five years tenure is the share of private financing in car loans. ~% of the car loan is processed through private financing and the maximum loan tenure offered by them is five years.
A factor that may also influence the choice of tenure will be the reselling price of the car. A car depreciates every year by ~% and the resale value of the car will drop to a much lower amount than for what it is purchased. Additionally, if the customer has plans to re-sell the car early and upgrade to a better car, a car with lesser or no loan amount is easier to sell. This is due to less paper work involved and easy transfer of ownership of the car.
Topics Covered in the Report
  • Auto & Car Loans in Egypt
  • New Car Sales in Egypt,
  • Interest Rate Car Loan in Egypt
  • Used Car Sales in Egypt,
  • Used Car Sales in the Egypt
  • Auto Loans Market in Egypt
  • Car Loans Industry in Egypt
  • Cairo Auto Loan Market
For further reading click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/egypt-car-finance-market/124560-93.html

 Related Reports by Ken Research

 UAE Car Finance Market Outlook to 2021 – Rising Car Finance Penetration and Multiple Car Finance Products Offered by Banks to Foster Growth

 India Car Finance Industry Outlook to 2020 - Driven by Spurring Car Sales and Reduction in Average Ownership Period

 Case Study-Premium Car Exchange Market in India- Focus on Audi, BMW and Mercedes with Concentration on Marketing Initiatives

 Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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Philippines Lubricants Market Research Report to 2021: Ken Research

How Lubricant Market is Positioned in Philippines?
The Philippines has witnessed a robust growth in the consumption of both automotive and industrial lubricants during 2011 – 2013. Consumption of lubricants in the Philippines has been reported at ~ in 2011, which witnessed a healthy growth over the subsequent two years and reached ~ during 2013. The increasing sales of passenger cars during the review period had a positive impact on the demand for lubricants in the country. Sales of new cars in the country augmented from ~ in 2011 to ~ in 2012 and ~ in 2013. The continuous increase in the sales of lubricants amplified the overall market revenues during the review period. The revenues generated by market players augmented to ~ in 2013 from ~ in 2012 and ~ during 2011. Rapid growth of the lubricant industry was further supported by the installation Increased installation of machinery used for manufacturing, construction and mining marked a significant rise in the demand for industrial lube oils during 2011-2013.
The consumption of lubricants in the Philippines increased from ~ in 2014 to ~ during 2016 at a CAGR of ~ during 2011-2016. The overall revenues generated by the market players augmented to ~ during 2016 from ~ during 2014. The increased sales were also supported by the continuous improvement in the refining process by the existing players and the upgradation of refineries by the lubricants giants. Strong delivery network of authorized distributors to reach out to customers through both online and offline modes led to an increase in the overall sales of lubricants in the Philippines during 2014-2016.
Which Among Various Types of Lubricants is Mostly Consumed in the Philippines?
Mineral lubricants have dominated the overall lubricant consumption in the Philippines during 2011 and 2016. This is primarily due to the cheap price of such products over semi-synthetic and synthetic lubricants. The share of semi-synthetic lubricants in the total consumption has inclined from ~ in 2011 to ~ in 2016, owing to an increased use of such products by both the customers of synthetic and mineral lubricants. Customers across automotive and industrial sector have been shifting from mineral lubricants to semi synthetic lubricants due to their well refined nature, which makes them lasts much longer than mineral oil.
Synthetic lube oils provide the highest level of protection to engine components, thus leading to the least wear-and-tear of vehicles and machinery. The share of synthetic based oils in the total consumption has inclined from ~ in 2011 to ~ in 2016, majorly due to their ability to offer superior lubrication in modern car engines as compared to mineral and semi-synthetic lubricants. The consumption of synthetic lubricants has increased despite of the high price in the Philippines market because such lubricants are blended with various different additives to obtain the required characteristics of usage by automotive and industrial users.
Which Among Automotive and Industrial Sector Consumes the Maximum Lube Oil?
Automotive lubricants have gathered the largest share in the market in terms of consumption. The share of automotive lubricants in the total consumption has inclined from ~ in 2011 to ~ in 2016. The combined sales of the numbers of commercial vehicles, passenger cars and motorcycles in the Philippines have augmented from ~ in 2011 to ~ in 2016. The boosting sales of automobiles in the country have significantly led to the increased demand for automotive lubricants during 2011-2016. The growth in share of automotive segment has also been supported by growing consumption of high quality synthetic lubricants, which were majorly being demanded by the automotive sector of the country over the period 2011-2016.
The share of industrial lubricants has declined slightly relative to the automotive segment from 2011 to 2016. The share of industrial lubricants in the total consumption has declined from ~ in 2011 to ~ in 2016. The value of industrial & machinery lubricant has increased in absolute terms.
Which Distribution Channels have Boosted the Sales of Automotive Lubricants in the Philippines?
OEM workshops, service stations and local workshops contributed the largest share of ~ to the overall automotive lubricants being consumed through various distribution channels in the Philippines during 2016.
The automotive lubricants purchased from dealers during 2016, constituted ~ of the overall lubricants consumed by automobile customers from varied distribution channels.
Supermarkets offer a one-stop-shop for a wide range of automotive lubricants with various qualities and prices to the customers. The consumption of automotive lube oils from supermarkets was ~ of the overall lubricants consumed by automobile customers through available distribution channels in the Philippines in 2016. All online portals selling lubricants collectively led to ~ of the overall consumption of automotive lubricants in the Philippines in 2016.
The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country.
Which Are the Most Consumed Lubricants by the Industrial Customers in the Philippines?
Hydraulic oils occupied the largest share in the overall consumption of industrial lubricants in the Philippines in 2016, contributing ~ to the pie during the same year. Gear oils contributed ~ to the overall consumption of industrial lubricants in the Philippines during 2016.
The growing installation of machinery in the Philippines has contributed to the increased consumption of grease by the industrial customers. Grease had a significant share of ~ in the total consumption of industrial lubricants in the Philippines during 2016.
The lowest share to the consumption of industrial lubricants in the Philippines in 2016 was contributed by metal working fluids, adding a share of ~ in the market. Metal working fluids (MWF) are used to lubricate grounded and milled metal pieces by reducing heat and friction between the cutting tool and metal.
Most of the lubricants available for the industrial sector were being consumed by the mining sector, which contributed ~% of the overall consumption of lubricants followed by construction, manufacturing and other industry in the Philippines in 2016.
Trends, Developments, Growth Drivers and Restraints in the Philippines Lubricant Market
Shift from Usage of Mineral Oil to Synthetic Oil: The market has witnessed a shift in demand from low quality mineral oil to synthetic oil. This is due to the ability of synthetic engine oil to offer superior lubrication in modern car engines as compared to conventional mineral oils available in the market.
Growth in Manufacturing Sector of the Philippines: Setting up of new manufacturing plants and the expansion of existing plants has added to the growth of overall industrial sector.  Increasing number of machinery installed in the industrial plants to boost the operations has increased the demand for lubricants in the country. 
Surging Construction Sector: The construction industry of the Philippines has witnessed prodigious growth, especially over past few years. Government infrastructure projects went up ~ to ~, while private construction activities rose ~ to ~ during 2016.
Escalating Automotive Industry: The overall lubricant market has grown due to the fleet of vehicles, which has been amplifying over the period 2011-2016.
The overall automotive industry of the Philippines marked ~ growth during 2016, thereby expanding the customer base for the lubricant market players operating in the country.
Entrance of Foreign Brands: The lubricants market of the Philippines is growing at a rapid pace due to more number of products being offered by global manufacturers through their network of retailers, dealers and distributors in the Philippines.
Competative Scenario in Philipiines Lubricant Market
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. Petron is the only Philippines’ company which posed a tough competition to the international lube oil manufacturers. Major players in the market focused on processing crude oil in their own refineries, whereas Chevron offered imported lubricants at the cut-throat prices and was the only marketer of Caltex products in the Philippines.
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.
High competition led to the introduction of new products for various types of engines, including the innovation of the companies to produce the lubricants that best suited a particular vehicle model. Manufacturers also focused on offering improved quality of synthetic lubricants at affordable prices to make the customers switch to the new products, thus having an anticipation to increase the revenues over the future.
Market Share of Major Players in Philippines Lubricant market
Shell was the leading player in terms of sales volume in the Philippines in 2016. Shell dominated the overall market with ~ million liters sale during 2016, due to the wide product range offered by the company for various automotive engines in the country. With the presence of more than ~ service stations and the increasing demand for Petron Blaze 100, which matches the European quality standards, Petron has proved to be the second largest player in the lubricants market in the Philippines in 2016, contributing ~ million liters to the overall sales volume. Chevron grabbed a significant position in terms of sales volume as it is the first American oil marketer in the country which focuses on selling imported lubricants. The player sold ~ million liters of lubricants during 2016. Exxon Mobil was also amongst the major market players and contributed ~ million liters to the market volume during the same year.
Future Outlook for the Philippines Lubricant Market
The revenues generated by the lubricants market players are projected to boost from ~ in 2016 to ~ in 2021, recording a robust CAGR of ~ during the period 2016-2021.
Anticipation of robust increase in the sales of passenger cars and commercial vehicles from ~ in 2016 to ~ during 2021 is projected to be the major reason for the increasing consumption of lubricants during the outlook period. The growing manufacturing plants set up by both domestic and global players across various industries are also anticipated to augment the consumption of industrial lubricants in the country. This is expected to make automotive lubricants dominate the overall consumption of lube oils in the Philippines.
The continuous growth in the consumption volumes is projected to incline the market revenues from ~ in 2016 to ~ in 2019, at a CAGR of ~ during the same period.
Owing to the booming energy sector of the Philippines, the country is anticipated to witness an increase in crude oil to meet the growing demand of various sectors over the long term.
Companies Cited in the Report
List of Companies                          Companies Covered in the Report
Shell
Chevron
Petron                                              Major Players
ExxonMobil
Phoenix
Castrol
Key Factors Considered in the Report
Philippines Lubricant Market Size by Consumption Volume and Revenue
Market Segmentation - By Type of Lubricants (Mineral-Based, Semi-synthetic and Synthetic); By Application (Automotive and Industrial)
Philippines Automotive Lubricant Market Size by Consumption Volume
Automotive Lubricant Market Segmentation – By End Users (Commercial Vehicles, Passenger Vehicles, Marine and Aviation); By Distribution Channels (OEM Workshops/Service Stations/Local Workshops, Dealer Network, Supermarkets And Online)
Philippines Industrial Lubricant Market Size by Consumption Volume
Industrial Lubricant Market Segmentation – By Type (Hydraulic Oil, Gear Oil, Grease, Metal Working Fluids And Others); By End Users (Mining, Construction, Manufacturing, Iron And Steel, Agriculture, Electricity And Medical); By Distribution Channels (Distributors, Workshops And Others)
Value Chain Analysis for the Philippines Lubricants Market
SWOT Analysis for the Philippines Lubricants Market
Trends, Developments, Growth Drivers and Restraints in the Philippines Lubricants Market
Market Share of Major Players in the Philippines Lubricants Market
Company Profiles of Major Lubricant Market Players               
Future Outlook for the Philippines Lubricant Market 
Analyst Recommendation
Macro-Economic Factors Impacting the Philippines Lubricant Market
For more information on the research report, refer to below link:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Tuesday, November 7, 2017

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:
Related Reports by Ken Research   
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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