Philippines Lubricant Market is expected to Reach USD 690 Million by 2021: Ken Research

Philippines Lubricant Market by Application (Automotive and Industrial), Philippines Lubricant Market by Type (Mineral, Semi Synthetic and Synthetic), Philippines Automotive Lubricant Market by End Users (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Automotive Lubricant Market by Distribution Channels (Commercial Vehicles, Passenger Vehicles, Marine and Aviation), Philippines Industrial Lubricant Market by End Users (Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical), Philippines Industrial Lubricant Market by Distribution (Distributors, OEM Workstations and Others, Trends and Developments, Market share of Major Players (Shell, Chevron, Petron, Exxon Mobil, Phoenix, Castrol and Others), Future Outlook and Projections

Lubricants market in the Philippines is expected to gain high revenue in the future due to continuous increase in the sales of automobiles in the country.
Boosting industrial sector with increasing number of manufacturing establishments is expected to assist market in the growth of consumption and revenues.
Growing numbers of domestic and global players in the space are anticipated to be among the major factors driving the overall lubricant market in the Philippines.

Lubricant market of the Philippines is highly competitive with few players operating in the space to cater the fluctuating demands of the customers. 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 of various sectors over the long term. The initiative of the government and tourism department with a long term view to connect all islands of the Philippines through sea route is expected to enhance the marine transportation, thereby leading to more lubricants being consumed by the ships and boats. Moreover, the growing concept of RO-RO services for intra-island trade and tourism is anticipated to boost the overall consumption of lubricants during long term.

Automotive and transport industry fleet size has been the largest consumer of lubricants in the Philippines during 2016. The overall lubricant market has grown due to the fleet of vehicles, which has been amplifying over the period 2011-2016. Rising trade due to the growing industries in the Philippines is estimated to be the major factor behind the increasing sales of commercial vehicles in the country over the recent future, there by having a positive impact on the consumption of lubricants. The growing manufacturing plants set up by both domestic and global players across various industries are also anticipated to augment the consumption of industrial lubricants in the country. Increasing number of machinery to be installed in the industrial plants is expected to boost the demand for lubricants in the country. Revenues from sales of lubricants to the automotive sector are projected to incline due to increasing number of customers switching to the use of expensive semi-synthetic and synthetic lube oils.

Ken Research announced its latest publication on “Philippines Lubricants Market by Type (Mineral, Semi-Synthetic and Synthetic), by Application (Automotive – Passenger, Commercial, Marine and Aviation and Industrial – Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity and Medical) – Outlook to 2021” suggested a rapid growth in the Philippines lubricants market, majorly driven by boosting crude oil imports, thus assisting market players to offer more lubricants in the country. Influx of foreign brands and rising demand of the population to switch to synthetic lube oils are attracting large number of potential players to enter the space.

Key Topics Covered in the Report

Philippines Lubricant Market

Industry Growth Lubricant Philippines

Opportunities in Lubricant Industry

Lubricant Consumption in Philippines

Shell Lubricant Price Philippines

Philippines Lubricant Distributors

Automotive Lubricant Market Growth

Revenue Lubricating Oil in Philippines

Synthetic Lubricant Share in Philippines

Mineral Oil Lubricant Market Philippines