Thailand Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up to 2026: Ken Research

How Is Lubricant Market Positioned in Thailand

Thailand Lubricant market sales has grown over the period 2016-2021, supported by the increase in Average Price for Lubricants Per Liter in the country. Players in Thailand Lubricant Market are primarily engaged in marketing and distribution of petroleum products to end users' customers, provide storage facilities, and other allied services. Many Market Players have Retail Station Dealerships to deliver long-term value to their retailers and other stakeholders. A wide network of OEM workshops, dealers and distributors, supermarkets and online stores used to sell the lubricants to the end users with varied margins.

The COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip. COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry.

The competition was observed to be concentrated in Lubricant with PTT Oil and Retail and The Shell company of Thailand contributing the maximum market share. Key competitive parameters include price, USP (Unique Selling Point), product portfolio, customer acquisition and promotional strategies, future plans and major clients.

Thailand lubricant Market Overview and Segmentation

Thailand Lubricant Market has been experienced growth with 2.1% CAGR (2016-2021) The boosting economy of Thailand has been supported by the growth of revenues generated by manufacturers offering lubricant oils to various customers across automotive and industrial sectors.

Market Segmentation of Thailand Lubricant Market

By Type: The boost in the sales of automobiles in the country has significantly led to an increase in the consumption of automotive lubricants over industrial lubricants. The increased sales were also supported by the continuous improvement in the refining.

By Grade: The Thailand Lubricant Market is dominated by Mineral as people in Thailand prefer using Mineral over other grade of lubricants.

Thailand Industrial Lubricant Market Overview and Segmentation

Market Overview:

The harsh condition of handling equipment in both industries has triggered the demand for lubricants by the operators.  Thailand's manufacturing output for 2021 has seen a significant growth from 2020. Lubricants have important application in manufacturing sector as it ensures durability and efficiency of machines.

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Market Segmentation of Industrial Lubricant Market

By Type: Hydraulic Fluid dominated the industrial lubricants market share followed by Grease, with second largest share. Hydraulic oils differ from conventional lubricants for their characteristics which include rust and corrosion inhibition, filterability, oxidation and hydrolytic stability and anti-wear performance.

By End Use: Construction accounted for majority of share in this segment as major end user for industrial lubricants followed by General Manufacturing. The harsh condition of handling equipment in both industries has triggered the demand for lubricants by the operators.

By Distribution: Dealer network dominated the market share in comparison to Direct Sales. Most of the lubricants consumed by the Thailand industrial sector have been supplied by a widespread network of authorized and local distributors across various regions of the country.

Thailand Automotive Lubricant Market Overview and Segmentation

Market Overview:

An increase in the sales of commercial vehicles in the country has largely contributed to the growth in overall lubricant consumption. The increasing number of ships and boats being visiting the country has thus led to the growth in consumption of automotive lubricant recently.

Market Segmentation of Automotive Lubricant Market

By Type: Heavy Duty Engine Oil dominated the industrial lubricants market in this segment as the major type of lubricants followed by Passenger Vehicle Motor Oil. Heavy Duty lubricants are largely needed by commercial vehicles and light trucks which need to generate enough power as they are largely used in transport and logistics.

By End Use: Commercial Vehicles accounted majority of share in this segment as major end user for automotive lubricants followed by Passenger cars. An increase in the sales of commercial vehicles in the country from 2019 to 2021 has largely contributed to the growth in overall lubricant consumption.

By Distribution: Service Stations/Local Workshops dominated the market share followed by OEMs with second largest share. Service Stations/Local Workshops dominated the market share followed by OEMs with second largest share.

Comparative Landscape in Thailand Lubricant Market

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The competition in lubricant market was observed to be Concentrated. Top players in the market are PTT Oil and Retail & The Shell Company of Thailand Limited. PTT and Shell are leaders because of their high distribution network, presence of local blending plant and high brand value. All other players such as Chevron, Idemitsu, BP-Castrol, Eneos, Siam-Pan Group and more are niche players focusing on small segment in the market. Bangchak and BP-Castrol are visionaries in the market as they have potential to become challengers in future. There are no challengers in the market as market players except PTT and Shell Thailand have comparatively low share.

Thailand Lubricant Market Outlook and Projections

The health Tech market is projected to grow at single digit CAGR (2021-2026F). Factors such Growing population, developing infrastructure, rising disposable incomes, growing middle class, and growing prevalence of chronic diseases are major factors for growth in the region. The Eastern Economic Corridor development plan for the oleochemical industry is also prominent growth driver and will drive the Thailand Lubricant Market in the near future.

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Time Period Captured in the Report:

Historical Period: 2016-2021
Forecast Period: 2021-2026F

Companies Covered:

PTT Oil and Retail
The Shell Company of Thailand
Bangchak Corporation
BP-Castrol (Thailand)
Esso (Thailand)
Idemitsu Lubricants (Thailand)
Siam Pan Group
Chevron Thailand
Thai Petroleum &Trading
Valvoline

Key Topics Covered in the Report

Thailand Lubricants Market Overview
Ecosystem of Lubricants Market
Business Cycle and Genesis of Thailand Lubricants Market Overview
Value Chain Analysis for Thailand Lubricants Market
SWOT Analysis for Thailand Lubricants Market
Porter's Five Forces Analysis Thailand Lubricants Market
Growth Drivers in Thailand Lubricants Market
Bottlenecks and Challenges in Thailand Lubricants Market
Trends and Developments in Thailand Lubricants Market
Government Regulations
End User Analysis of Thailand Lubricants Market
Covid-19 Impact on Thailand Lubricants Market
Competitive Landscape in Thailand Lubricants Market
Strengths and Weaknesses of the Major Players in Thailand Industrial Lubricant market
Strengths and Weaknesses of the Major Players in Thailand Automotive Lubricant market
Cross Comparison of Major Players in Thailand Industrial Lubricant Market
Cross Comparison of Major Players in Thailand Automotive Lubricants Market
Product Portfolio of Major Players in Thailand Industrial Lubricants Market
Product Portfolio of Major Players Thailand Automotive Lubricants Market
Detailed Analysis on Thailand Lubricants Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2022-2026F)
Detailed Analysis on Thailand Industrial Lubricants Market (Market Segmentation, 2016-2022; Future Market Segmentation, 2022-2026F)
Detailed Analysis on Thailand Automotive Lubricants Market (Market Segmentation,2016- 2022; Future Market Segmentation, 2022-2026F)
Market Opportunity and Analyst Recommendations

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/thailand-lubricant-market-outlook-to-2026/596128-100.html

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