Thailand Lubricant Market Outlook to 2026
Driven by Growth in demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant in the Country
November 2022
98
About the Report
About the Report
The report titled “Thailand Lubricant 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 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.
Thailand Lubricant Market Overview
Thailand Lubricantmarket sales has grown over the period 2016-2021, supported by the increase in Average Price for Lubricants per Literin 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 Overview and Segmentations
Automotive Lubricants dominated the market, whereas Mineral Grade Lubricants were the most preferred by grade type in 2021. Hydraulic Fluid occupied the largest share in the overall consumption of industrial lubricants in the Thailand in 2021, contributing majorly to market share. Construction Industry accounted for majority of the demand as major Lubricant end use industries in Thailand in 2021.
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 Lubricants Market Segmentations:
- By Type, on the Basis of Sales Volume (Mn Lts):
Automotive Lubricants have dominated the market contributing majority of share to the market against Industrial Lubricants.
- By Grade, on the Basis of Sales Volume (Mn Lts):
Majority of the share for this segment was governed by Mineral Lubricants followed by semi-synthetic and synthetic lubricants.
Detailed Analysis on Thailand industrial Lubricants Market:
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.
Thailand Industrial Lubricants Market Segmentations:
- By Type, on the Basis of Sales Volume (Mn Lts):
Hydraulic Fluid dominated the industrial lubricants market share followed by Grease, with second largest share.
- By End Use, on the Basis of Sales Volume (Mn Lts):
Construction accounted for majority of share in this segment as major end user for industrial lubricants followed by General Manufacturing.
- By Distribution, on the Basis of Sales Volume (Mn Lts):
Dealer network dominated the market share in comparison to Direct Sales.
Detailed Analysis on Thailand Automotive Lubricants Market:
An increase in the sales of commercial vehiclesin 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.
Thailand Automotive Lubricants Market Segmentations:
- By Type, on the Basis of Sales Volume (Mn Lts):
Heavy Duty Engine Oil dominated the industrial lubricants market in this segment as the major type of lubricants followed by Passenger Vehicle Motor Oil.
- By End Use, on the Basis of Sales Volume (Mn Lts):
Commercial Vehicles accounted majority of share in this segment as major end user for automotive lubricants followed by Passenger cars.
- By Distribution, on the Basis of Sales Volume (Mn Lts):
Service Stations/Local Workshops dominated the market share followed by OEMs with
second largest share.
Future Outlook and Conclusion:
Oil demand is expected to continue 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. While metalworking fluid cater to very niche market but due to high price give high profit. Construction is the largest end-user segment with XX% share for Industrial lubes followed by manufacturing holding nearly XX-XX% and then metal & mining XX% then others. The growth of greases lies in range X-X% which is less than hydraulic oil, due to increasing chances of leakages in vehicles which is prevented by hydraulic oil as it prevents seal damage. For Auto Lube sales, retail shops, service stations (i.e. retail) is a most popular distribution channel in Thailand as company such as expanding it retail network viz., Bangchak plans to add around XXX new service station in 2022.
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
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
Products
Products
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
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
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
Table of Contents
Table of Contents
1. Executive Summary
1.1 Executive Summary for Thailand Lubricants Market, 2016-2026F
2. Country Overview of Thailand
2.1. Country Demographics, 2021
2.2. Population Analysis, 2021
3. Thailand Sector (Industrial and Automotive) Overview
3.1. Thailand Trade Analysis
3.2. Analysis of Preferred Lubricants Companies in ASEAN Countries
3.3. Thailand Automotive Industry, 2021
3.4. Cross comparison of Southeast Asian Countries on the basis of Number of Motor Vehicles and Sold by Country in 2021
3.5. Cross comparison of Southeast Asian Countries on the basis of Number of Motorcycles and Scooter and Sold by Country in 2020-2021
4. Thailand Lubricants Market Overview
4.1. Ecosystem of major Entities in Thailand Lubricants Market
4.2. Business Cycle and Genesis of Thailand Lubricants Market
4.3. Timeline of major Players in Thailand Lubricants Market
4.4. Value Chain Analysis for Thailand Lubricants Market
4.5. Market Sizing Analysis of Thailand Lubricants Market, 2016-2021
4.6. Market Segmentation for Thailand Lubricants Market (by type, by end-use, by distribution channel), 2016-2021
5. Thailand Industrial Lubricants Market Segmentation, 2021
5.1. By Type of Industrial Lubricants on the basis of Sales and Volume(hydraulic fluid, grease, gear oil, metal working fluid and others), 2021
5.2. By End Use of Industrial Lubricants on the basis of Sales and Volume (construction, general manufacturing, metal & mining, power generation and others), 2021
5.3. By Distribution Channel of Industrial Lubricants on the basis of Sales and Volume (direct sales and distributor network), 2021
6. Thailand Automotive Lubricants Market Segmentation, 2021
6.1. By Type of Automotive Lubricants on the basis of Sales and Volume (heavy duty diesel engine oil, passenger vehicle motor oil, hydraulic motor oil, greases and others), 2021
6.2. By End Use of Automotive Lubricants on the basis of Sales and Volume (commercial vehicle, passenger cars, motor cycle, marine and others), 2021
6.3. By Distribution Channel of Automotive Lubricants on the basis of Sales and Volume (online, supermarkets/hypermarkets, service stations, OEMs), 2021
7. Industry Analysis of Thailand Lubricants Market
7.1. SWOT Analysis for Thailand Lubricants Market
7.2. Porter’s Five Forces Analysis of Thailand Lubricants Market
7.3. Growth Drivers in Thailand Lubricants Market
7.4. Bottlenecks and Challenges in Thailand Lubricants Market
7.5. Trends and Developments in Thailand Lubricants Market
7.6. Thailand Lubricants Market Regulations
8. End User Analysis of Thailand Lubricants Market
8.1. End Users Pain Points in Thailand Lubricants Market
8.2. Vendor Evaluation and Selection process in Thailand Market
8.3. Factors Affecting Vendor Selection Process
8.4. Decision Making Parameters of Automotive Lubricant End-Users in Thailand Lubricants Market
8.5. Decision Making Parameters of Industrial Lubricant End-Users in Thailand Lubricants Market
8.6. Snapshot of Workshops in Industrial and Automotive Lubricant Sector across Thailand
9. Competitive Framework of Thailand Lubricants Market
9.1. Competitive Landscape
9.2. Market Share of Major Manufacturers in Thailand Lubricants Market, 2021
9.3. Average Price by Segmentation of Major Industrial and Automotive Lubricants Manufacturers, 2021
9.4. Company-wise Sales Analysis of Major Players in the Thailand Lubricants Market, 2021
10. Competition framework for Thailand Industrial Lubricants Market
10.1. Strengths and Weaknesses of the major Industrial Lubricant market Players(PTT, Bangchak, ESSO, Chevron).
10.2. Cross Comparison of Major Players (Shell company of Thailand, PTT, Bangchak, ESSO) in Thailand Lubricants Market in terms of inception year, geographical presence, HQ, employees, distributors, number of fuel stations, best selling grades, imported/locally produced, product portfolio, USP, customer acquisition and promotional strategies, future plans and major clients.
10.3. PTT and Esso’s Product Portfolio in Thailand Lubricant Market
10.4. Esso’s and The Shell Company of Thailand Product Portfolio in Thailand Lubricant Market
10.5. Chevron Product Portfolio in Thailand Lubricant Market
11. Competition framework for Thailand Automotive Lubricants Market
11.1. Strengths and Weaknesses of the major Automotive Lubricant market Players (PTT, Bangchak, ESSO, Chevron and Shell company of Thailand).
11.2. Cross Comparison of Major Players in Thailand Automotive Lubricants Market (Shell company of Thailand, PTT, Bangchak, ESSO and Chevron) in Thailand Lubricants Market in terms of inception year, geographical presence, HQ, employees, distributors, number of fuel stations, best-selling grades, imported/locally produced, product portfolio, USP, customer acquisition and promotional strategies, future plans and major clients.
11.3. PTT’s product Portfolio in Thailand Automotive Lubricant Market
11.4. The Shell Company of Thailand Product Portfolio in Thailand Automotive Lubricants Market
11.5. Chevron’s Product Portfolio in Thailand Automotive Lubricants Market
11.6. Esso’s Product Portfolio in Thailand’s Automotive Lubricants Market
12. Covid-19 Impact on Thailand Lubricant Market
12.1. Impact of Covid-19 on Thailand Lubricant Market
12.2.Key elements of the Recovery Phase for Companies from Pandemic
13. Future Outlook and market Size for Thailand Lubricant Market, 2021-2026F
13.1. Future Market Sizing analysis of Thailand Lubricant Market, 2022-2026F
13.2. Future Market Segmentation for Thailand Lubricant Market (by type, by end-use, by distribution channel), 2022-2026F
14. Future Segmentation for Thailand Industrial Lubricant Market, 2026
14.1. By Type of Industrial Lubricants on the basis of Sales and Volume(hydraulic fluid, grease, gear oil, metal working fluid and others), 2026F
14.2. By End Use of Industrial Lubricants on the basis of Sales and Volume (construction, general manufacturing, metal & mining, power generation and others), 2026F
14.3. By Distribution Channel of Industrial Lubricants on the basis of Sales and Volume (direct sales and distributor network), 2026F
15. Future Segmentation for Thailand Automotive Lubricant Market, 2026
15.1. By Type of Automotive Lubricants on the basis of Sales and Volume (heavy duty diesel engine oil, passenger vehicle motor oil, hydraulic motor oil, greases and others), 2026F
15.2. By End Use of Automotive Lubricants on the basis of Sales and Volume (commercial vehicle, passenger cars, motor cycle, marine and others), 2026F
15.3. By Distribution Channel of Automotive Lubricants on the basis of Sales and Volume (online, supermarkets/hypermarkets, service stations, OEMs), 2026F
16. Market Opportunity and Analyst Recommendations
16.1. Levers to be used for companies’ growth
16.2. Marketing and Sales Channel Strategies for Automotive and Industrial Lubricant Providers
17. Research Methodology
17.1. Market Definitions and Assumptions
17.2. Abbreviations used
17.3. Market Sizing Approach
17.4. Consolidated Research Approach
17.5. Sample size Inclusion
17.6. Correlation Matrix
17.7. Limitations and Future Conclusion
Disclaimer
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