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Growth in demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant Will boost the Thailand Lubricant Market

12-27-2022 09:20 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt .Ltd

Growth in demand for Bio-Lubricants and Major Share of Passenger

Thailand lubricant market grew at a robust CAGR of in the period 2016-2021, generating very high revenue in 2021

Increasing demand for bio-lubricants is expected to drive the Thailand Lubricants Market (https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/thailand-lubricant-market-outlook-to-2026/596128-100.html) in forthcoming years owing to continuous growth in the manufacturing sector along with the blooming metals & mining industry. Government initiatives such as emergence of EVs and B10 Diesel towards promoting bio-lubricants and other oil regulations will further drive the market further extending its reliability.

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Automotive Lubricants are expected to dominate the market share in 2026F; whereas mineral grade lubricant is expected to be preferred type of lubricant in Thailand.

Oil demand is expected to continue to expand over the period 2022-2026F in Thailand to fulfill the consumption requirements of both industrial and automotive sectors by processing mineral oils into semi-synthetic and synthetic oils. The market is expected to witness enhancing use of synthetic lubricants over long term, due to the growing awareness of people to switch to better quality lube oils for long term protection of the engines.

The Thailand Lubricants Market (https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/thailand-lubricant-market-outlook-to-2026/596128-100.html) is expected to showcase positive outlook, owing to the rising demand of lubricants and expansion of market players in upcoming years.

The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country. Majority of the automotive lubricants were consumed through Dealer network, where consumers can purchase the lubricants for their vehicles. Lubricant market players such as Castrol and Exonmobil sell oils either through their online platforms or through an e-commerce player like Alibaba.com and Shopee operating in Thailand. Hence the demand for online platforms have generated more sales in comparison to the supermarkets and hypermarkets channel.

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

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