Removal of Tax on Import of Lubricants from South-East Asian Nations has Stimulated the Competition and Hence the Growth in the Lubricants Industry in Vietnam: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit “Rapid Industrialization and Rising Passenger Vehicle Sales have led to rise in demand for both Automotive and Industrial Lubricants simultaneously in Vietnam.” Analysts at Ken Research in their latest publication “Vietnam Lubricants Market Outlook to 2023 – By Grade (Mineral, Semi-Synthetic and Synthetic Lubricants), By Application (Automotive and Industrial) By Type of Automotive and Industrial Lubricants, By End User of Automotive and Industrial Lubricants End User, and By Distribution Channel of Automotive and Industrial Lubricants” believe that rising vehicle sales, increasing industrial capabilities, growing quantum of incoming FDI from ASEAN and other countries, improving sales and promotion / advertising of lubricants, introducing facilities for recycling and effective disposal of used oil will aid the lubricants market in Vietnam. The market is expected to register a positive CAGR of 9.2% in terms of revenue and 6.7% in terms of sales volume during the forecasted period 2018-2023. Key Findings The ASEAN Economic Community’s Trade in Goods Agreement (ATGI), which abolished tariffs on trade of lubricants within ASEAN nations, supplemented the re-design of the competition scenario in the market, with multiple companies from neighboring nations such as China, Taiwan, Indonesia, Singapore and Japan entering the Vietnamese market. CAGR in the automotive segment of the lubricants market in Vietnam of around 2.0% was stimulated by healthy sales growth of passenger cars owing to the rising personal disposable income of the ever expanding middle income segment of the population in Vietnam. Emergence of Vietnam as a manufacturing and production hub, as evident in the all time-high USD 39.2 billion GDP contribution of the manufacturing sector to the GDP of Vietnam in the year 2018, spearheaded growth in demand for industrial lubricants in Vietnam. Low level of customer awareness regarding lubricant quality and overt dependence on brand name and reputation for decision making puts the consumer on the back foot with respect to holding bargaining power in the market. Bio Based Lubricants are the newest product segment to be introduced in the market, with an increasing focus on sustainability and on curtailing environment degradation. Environment-friendly and made from bio-degradable substances, bio-based lubricants have been introduced by number of lubricant-providing companies in the market. For instance, Green Lube Vietnam and others introduced bio-based lubes within Vientam. Rising Passenger Car Sales were observed during the period, accruing to a rise in the personal disposable income of Vietnamese citizens and a rise in the middle income segment in Vietnam. Sales of passenger cars grew at a compounded rate of 27.0% year-on-year during the period 2013-2018. A shift in consumer’s mindset towards more comfortable mobility solutions and a perceived slowdown in the growth of the two-wheeler retail segment in the country were also behind the increasing demand for passenger cars and therefore lubricants for passenger cars. Major industrial end users such as construction, manufacturing, steel and power generation utilize machineries that require usage of lubricants to stimulate heat resistance and smooth running of machinery. Industrial growth in terms of a high value added by the industrial sector to GDP, has led to an increasing demand for industrial use lubricants in the country. The spread of Used Oil and Re-Used Lubricants has prompted the Vietnamese government to mandate the collection and proper treatment of used oil. The guidelines have encouraged lubricant companies towards developing used oil treatment and collection plants and facilities in addition to encouraging the entry of waste management companies in Vietnam. Competitive landscape within the market has evolved with increasing number of international companies entering the space. Major Players in the market include joint venture Castrol BP Petco and other international companies such as Shell, Total, Chevron, JX Nippon and Idemitsu among others. Local competitive presence includes state-run Petrolimex Petrochemical Corporation (PLC) and Mekong Lubricants primarily. Key Segments Covered:- By Grade Mineral based Lubricants Semi-Synthetic Lubricants Synthetic Lubricants By Application Automotive Lubricants Industrial Lubricants By Automotive Lubricant Type Heavy Duty Diesel Engine Oil Motorcycle Oil Passenger Car Motor Oil Hydraulic Oil Gear Oil Greases By Automotive Lubricant End User Commercial Vehicles Motorcycles Passenger Cars Marine Vessels By Automotive Lubricant Distribution Channel Dealer and Distributor Network OEM Workshops and Service Stations Supermarket and Online Retail By Industrial Lubricant Type Hydraulic Oil Metal Cutting Fluid Industrial Gear Oil Industrial Grease Turbine Oil Transformer Oil Compressor Oil Others (Anti Rust Oil and Cleaner Oil) By Industrial Lubricant End User Manufacturing Steel Projects Construction Power Generation Others (Textiles, Chemicals and Auto Parts primarily) By Industrial Lubricant Distribution Channel Direct Sales Dealer and Distributor Network Key Target Audience:- Auto And Auto Component Manufacturers Manufacturing Companies Steel Production Companies Metal Working Companies Auto And Auto Component Manufacturers Construction Companies Textile Companies Cement Companies Mining Companies Power Generation Companies Food & Beverage Companies Petroleum and Lubricant Associations Time Period Captured in the Report:- Historical Period – 2013-2018 Forecast Period – 2018-2023E Companies Covered:- Castrol BP Petco Petrolimex Petrochemical Corporation (PLC) Shell Vietnam Chevron Total Mekong Lubricants Idemitsu Lube Vietnam JX Nippon Oil and Energy ExxonMobil Vilube Motul Valvoline Honda Yamaha Lube Sinopec For more information on the research report, refer to below link:- Vietnam Lubricants Market Related Reports:- Uganda Lubricants Market Outlook to 2023 – By Origin (Mineral, Semi-Synthetic and Synthetic), By Automotive (Passenger Car Motor Oils and Motor Cycle oils, Heavy Duty Diesel Engine Oils, Hydraulic Oils, Gear Oils and Transmission Fluids, Greases) and Industrial (Hydraulic Oils, Industrial Gear Oils, Turbine Oil, Compressor Oils, Greases, Transformer Oils and Grease), By End Users and By Distribution Saudi Arabia Lubricants Market Outlook to 2023 – By Automotive (Passenger Car Motor Oil, Heavy Duty Engine oils, Hydraulic Oils, Gear Oils & transmission, and Greases), Industrial lubricants (Engine Oils, Turbine oils, Hydraulic oils, Industrial Gear oils, Transformer oils, Compressor oils, Greases) By Origin (Mineral, Synthetic and Semi-Synthetic) Ivory Coast Lubricants Market Outlook to 2023 – By Origin (Mineral, Semi-Synthetic and Synthetic), By Automotive Lubricants (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Transmission Fluids and Greases) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Turbine Oil, Compressor Oils, Greases, Transformer Oils And Industrial Greases), By Automotive and Industrial End Users and By Channels of Distribution Contact Us:- Ken Research Ankur Gupta, Head 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