Vietnam automobile lubricant market beckonsWith automotive lubricant demand rising from 2.6 million liters (in 2015) to 4.1 million liters (in 2021), global and regional manufacturers are taking notice of the Vietnam market. How can brands win in this market? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights on key trends in the Lube Report Asia magazine.
With many players competing in the Southeast Asia market for motorcycle lubricants, leaders will be determined by their success in the large and fast-rising markets of Indonesia and Vietnam. These two countries account for over 80% of the region’s total motorcycle population. A few brands that stand out are Petronas, Shell, BP Castrol and Pertamina.
Leon commented that while Vietnam’s short-term growth is driven by motorcycle lubricants, long-term growth is expected to come from car lubricants as middle-class Vietnamese trade up to cars.
Vietnam’s attractive lucrative market is dominated by mineral engine oil due to price. However, synthetic and semi-synthetic engine oil saw rapid growth with a combined market share of 41% (in 2015), which is expected to rise to 56% by 2021. In early 2016, Vietnam ceased tariffs on lubricants from Association of Southeast Asian Nations member states, making the market much more competitive but also fueling growth.
Find out more here: bit.ly/2F7XTmt
Spire Research and Consulting was established in 2000 to address a gap in the research and consulting industry in global emerging markets. Unlike most agencies that focus on traditional consumer research, our founders saw a profound need for holistic research projects.
Unit 501-502, DLF City Court,
DLF Phase III, Sector 24, Gurugram – 122002, India
Telephone: (91) 124 421 6144
Fax: (91) 124 422 1934
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Vietnam automobile lubricant market beckons here
News-ID: 1056595 • Views: 118
More Releases from Spire Research and Consulting
Digital banking in Singapore
What will be the impact of digital banks in Singapore? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in Business Times – Singapore. More and more countries worldwide are issuing full bank licenses to digital-only banks. The competition from digital banks is being seen as a favorable development for the consumer. Digital banks with fewer physical branches and Automated Teller Machines to maintain could incur lower costs
Spire talks about political risks facing business in ASEAN
On 25th April, Spire, Yamada Consulting Group (YCG) and SPEEDA jointly organized a breakfast seminar in Singapore to share insights about the political risks that businesses face in ASEAN in a year of multiple elections. The panelists were Leon Perera, Chief Executive Officer of Spire Research and Consulting, MS. Khor YU Leng, Research Director, Southeast Asia Segi Enam Advisors Pte. Ltd and Mr. Takashi Kawabata, Lead Asia Economist, Uzabase Asia
Will Indonesia’s new government be favorable for Economic growth?
Mr. Joko’s likely victory in the Presidential elections of Indonesia would mean improved competitiveness through continued economic reforms. He would probably continue working on attracting direct foreign investment, build infrastructure, continue civil service reform, promote special economic zones and for locally sourced commodities nurture value added processing. Mr. Joko’s second term would also be beneficial for Indonesia’s ICT startup sector. However the pace of the economic reforms may be slow, owing to the
Will the tech sector create new employment opportunities for persons with disabi …
One billion people, or 15 per cent of the world’s population, are people with disabilities. The employment rate of working age Americans with disabilities in 2016 was 36 per cent, versus 79 per cent for those without disabilities. Tech giants are in favor of employing people with autism because of their ability to focus on details and identify patterns useful for cyber-security. Will the tech sector create new employment opportunities for persons with
More Releases for Vietnam
Agrochemicals Market in Vietnam
ReportsWorldwide has announced the addition of a new report title Vietnam: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Vietnam: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Environmental disaster in Vietnam
In Vietnam occurred the biggest environmental disaster since the deployment of Agent Orange by the Americans during the Vietnam War. It happened almost unnoticed by the world while Europe was busy with the refugee crisis and America with the forthcoming presidential elections of the USA. The perpetrators of the environmental disaster come from abroad and are supported by the Vietnamese politicians, similar as it was happen at the Vietnam War. "
Tourists killed in Vietnam
Vietnam belongs for tourists to the most popular and safest travel destinations in the world, as long as one can believe officially widespread reports. However, this information may not been longer current since a long time. More and more tourists in Vietnam were killed at criminal offenses as well by tragic accidents. These accidents occur mostly due to insufficient checking for compliance with statutory safety regulations by the Vietnamese authorities.
Booming Tourism Sector in Vietnam
RNCOS has recently added a new Market Research Report titled, “Booming Tourism Sector in Vietnam” to its report gallery. Vietnam has become one of the most popular tourist destinations in the South-east region. The country’s tourism industry has been growing unprecedentedly over the past few years with rising domestic as well as international tourists. The travel & tourism industry accounted for 10% of the GDP in the Vietnamese economy during
35 Years Service in Vietnam
Vietnam’s leading mutual marine insurer, the West of England, in conjunction with VINARE, held a conference for an unprecedented gathering of 130 senior members of the country’s shipping and insurance industries to celebrate its 35th anniversary of providing services to Vietnam’s shipowners last month in Nha Trang. The event featured updates on market conditions and industry developments by several members of the West of England’s management and by leading members of
Asian Insurance Focus: Vietnam & Thailand
Asian Insurance Focus: Vietnam & Thailand New Delhi, 4th September 2008: Globalization is the key source which is bringing about an "irreversible transformation" in the Asian insurance market. Asia is becoming an important growth engine for global insurers due to the changing socio-economic dynamics. According to a latest research report from HSBC, in order to be long-term winners, life insurance companies in Asia need to diversify their income streams such that