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); by domestic manufacturing and imports; by distribution channel (OEM Workshops, Dealer Network, Supermarkets, Local Workshops and Online); Industrial lubricant by type (Hydraulic Fluids, Gear Oils, Greases, Metal Working Fluid and Others), Market share by companies (PTT Lubricant, Shell, Castrol (BP), Chevron)
The lubricants market in Thailand has grown at a considerable pace over the period 2011-2016. However, the growth was slightly constrained over the year 2014-2015 mainly due to the political turmoil in the country that affected the country’s entire manufacturing operations. This market has been anticipated to pick up from 2017, enhance at a CAGR of 4.0% over the period 2017-2021.
Demand for fully synthetic lubricants has been projected to surge over the coming years as people in Thailand are demanding them for new cars as they extend the life of the engine significantly and also increase the oil change time.
5 players dominate the market and accounted for a share of around 80.0% in the total sales of lubricants in 2016.
The lubricants market in Thailand has grown at a positive pace over the period 2011-2016. Thailand has been going though 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 anticipated growth projected over the coming five years. As of 2016, majority of the market for lubricants in Thailand is covered by 5 companies. Remaining market is shared by number of players. Some of the companies including JX Nippon Oil & Energy are some of the upcoming players in the market. JX Nippon Oil & Energy are expecting to double its lubricant sales in 2016. Petronas is another player that has been expected to do well over the coming years in Thailand. In the current scenario, synthetic lubricants cater to a niche market in Thailand. They 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 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.
Ken Research in its latest study, 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 suggests that PTT, Shell, Castrol, Chevron and Exxon Mobil will remain the major players in this space. However, these major players will witness rising competition from small regional players due as there are around 150-170 brands in the market.
Thailand lubricant Market is projected to register a positive CAGR during the period 2017-2021. Growing sale of vehicles (passenger + commercial), rising number of ships, and enhancing manufacturing and construction sector is expected to drive the Thailand lubricant Market in the future.
The report provides information on market size of the Thailand automotive and industrial lubricant Market, market segmentation on the basis of type of lubricants, application and distribution channels.
Key Topics Covered in the Report:
Thailand Lubricant Distributors
Opportunities in Lubricant Industry
Automotive Lubricant Market Growth
Thailand Lubricant Market
Trends Lubricant Thailand
Gear Oils Industry Thailand
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Related Report by Ken Research
Ankur Gupta, Head Marketing & Communications