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

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 player in Philippine’s 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.

Philippines Lubricants Market

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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

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