Rising sale of passenger and commercial vehicles coupled with growing demand for synthetic lubricants have aided the demand for lubricants in Thailand.
The report titled “Thailand Lubricant Market by Type (Mineral, Semi-Synthetic and Synthetic), by Application (Automotive – Passenger, Commercial, Marine and Aviation; Industrial – Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity, Medical) – Outlook to 2021” by Ken Research suggested a robust CAGR of 4.0% in revenue of the Thailand lubricant market by 2021 with growing demand for synthetic and semi-synthetic lubricants rising sale of new vehicles driving the revenues of this market in the future.
Thailand lubricant market is in a recovery phase. Thailand has been going through political turmoil over the past couple of years due to which industrial lubricant sector observed constrained growth over the period 2014-2015. However, the market has started recovering in 2016 with ample growth projected over the coming five years.
Lubricant consumption in Thailand has enhanced in 2016. Apart from rising sales of vehicles and growth in industrial and machinery sector, growth in the market has also been led by growing use of synthetic lubes in high end cars.
In the current scenario, synthetic lubricants are mostly used in the automotive sector and have limited applications in the industrial segment. However, the market has witnessed rapid growth over the past five years as new cars and vehicles in being manufactured in the country are using synthetic based lubricants as they are known to enhance the performance and lifespan of the vehicles. Best type of synthetic lubricants available in Thailand includes PTT Performa Fully Synthetic 5W-40 and Shell Helix Ultra 5W-40.
Graphene is a new type of lubricant that is emerging in the Thailand market. Many institutes and companies have been conducting R&D on Graphene lubricants for a number of years.
Unique physical, mechanical, and chemical properties of Graphene make it an attractive product for applications where control of friction and wear is of vital importance at different length scales. Conventional lubricants often have chemical limitations when it comes to reducing friction in machinery. Graphene has properties of a newer, exceptionally wear-resistant lubricant that works in a broader range of environments. For instance, a single layer of conventional lubricant in between a steel ball and a steel disk would last only 1 wear cycle. On the other hand, the single layers of Graphene can last for more than 6,500 wear cycles.
Market for lubricants in Thailand has been led by PTT lubricants followed by Shell. The players are competing with each other on the basis of several parameters such as price, quality and innovation, product portfolio and marketing techniques such as OEM partnerships.
Key Topics Covered in the Report:
Shell Market Share Thailand
PTT Lubricant Market Share Thailand
Lubricant Import in Thailand
Thailand Lubricant Distributors
Grease Lubricant Industry Thailand
Opportunities in Lubricant Industry
Automotive Lubricant Market Growth
For more information on the market research report please refer to the below link:
Related Report by Ken Research
Ankur Gupta, Head Marketing & Communications