Press release
Increase in Lubricants demand due to growth in Industrial use and rising vehicles sales in automotive industry in the country is driving Lubricants Market in Philippines: Ken Research
Growing Industrial Sector: Surging construction and mining industry in the Philippines has resulted in enhanced application of lubrication in the construction & mining machinery being used in the country. Other industrial sectors such as manufacturing sector, metal production, power generation and more has been growing over the recent years in Philippines. This has led to the installation of more machinery and equipment required by the market players operating in construction, manufacturing, agriculture, mining, iron and steel, electricity and healthcare sector.
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Escalating Automotive Industry: The boosting sales of automobiles in the country have significantly led to the increased consumption of automotive lubricants than industrial lubricants. The increased sales were also supported by the continuous improvement in the refining process of the existing players and the upgradation of refineries by the lubricant's giants operating in the country. The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country.
Price of Lubricants and Counterfeit poses major challenges in the country: One of the biggest challenges in the market is the changing prices of finished products and raw materials, which in turn impacts the margins earned by the sellers of lubricants in the Philippines. The prevalence of counterfeit lubricants is also prevalent in Philippines as in other ASEAN countries, in both domestic as well as export market. This significantly affects the participation of players who can provide quality lubricant to end users in Lubricants Market in Philippines.
Covid-19 Impact: The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols resulted in the contraction of packaging product sales during the initial months of the pandemic in the country. While the Power and Transport Sector faced major setback during pandemic, the consumption rate of oil and lubricants remains positive in Industrial and Non-Energy Use Sectors in Philippines.
The report titled "Philippines Lubricants Market Outlook to 2026F- Driven by Growth in Crude Oil Import and Rising Sales of Commercial Vehicles in the Country" by Ken Research provides a comprehensive analysis of the potential of Lubricants in Philippines. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by type, by grade, by end use, by distribution; growth enablers and drivers, trends and developments challenges and bottlenecks; regulatory framework; end user analysis; competitive landscape including competition scenario, market shares of major players on the basis of revenue generated. The report concludes with future market projections of each product segmentation and analyst recommendations.
For more insights on market intelligence, refer to the link below: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/philippines-lubricants-market-outlook-to-2026/596247-100.html
Key Segments Covered: -
Philippines Lubricants Market:
By Type, on the Basis of Sales Volume (Mn Lts):
• Industrial Lubricant
• Automotive Lubricant
By Grade, on the Basis of Sales Volume (Mn Lts):
• Mineral
• Semi-Syntenic
• Synthetic
Philippines Industrial Lubricants Market:
By Type, on the Basis of Sales Volume (Mn Lts):
• Hydraulic Fluid
• Grease
• Gear Oil
• Metalworking Fluid
• Others (Turbine Oil, Compressor Oil, etc.)
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By End Use, on the Basis of Sales Volume (Mn Lts):
• Construction and Mining
• General Manufacturing
• Metal Production
• Power Generation
• Food Processing
• Others (Agriculture, Medical, etc.)
By Distribution Channel, on the Basis of Sales Volume (Mn Lts):
• Dealer Network
• Direct Sales
Philippines Automotive Lubricants Market:
By Type, on the Basis of Sales Volume (Mn Lts):
• Heavy-Duty Diesel Engine Oil
• Passenger Vehicle Motor Oil
• Transmission Fluids
• Hydraulic Oil
• Greases
• Gear Oils
By End Use, on the Basis of Sales Volume (Mn Lts):
• Commercial Vehicles
• Passenger Cars
• Motor Cycles
• Marine
• Others (Aviation, Railways, etc.)
By Distribution Channel, on the Basis of Sales Volume (Mn Lts):
• Dealer Network
• OEM Workshops/Service stations/Local Workshops
• Supermarkets/ Hypermarkets
• Online
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Key Target Audience
• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• Metal Production Industry
• Power Generation Industry
• Food Processing Industry
• Agriculture Industry
• Medical Industry
• Automotive OEMs
• Automotive Dealerships
• Government Agencies
• Consulting and Advisory Firms
Time Period Captured in the Report:
• Historical Period: 2016-2021
• Forecast Period: 2021-2026F
Companies Covered:
Lubricants Manufacturers
• Petron Corporation
• Pilipinas Shell Petroleum Corporation
• Caltex (Chevron Philppines)
• Phoenix Petroleum Philippines, Inc.
• SEAOIL Philippines Inc.
• Unioil Petroleum Philippines Inc.
• Liquigaz Philippines Corporation
• Castrol Philippines Inc.
• Total Energies Philippines
Key Topics Covered in the Report
• Philippines Lubricants Market Overview
• Ecosystem of Philippines Lubricants Market
• Business Cycle and Genesis of Philippines Lubricants Market
• Value Chain Analysis for Philippines Lubricants Market
• Growth Enablers in Philippines Lubricants Market
• Bottlenecks and Challenges in Philippines Lubricants Market
• Philippines Lubricants Market Regulations
• End User Analysis of Philippines Lubricants Market
• Vendor Evaluation and Selection Process in Philippines Lubricants Market
• Covid-19 Impact on Philippines Lubricants Market
• Competitive Landscape in Philippines Lubricants Market
• Product Portfolio of Major Players Philippines Automotive Lubricants Market
• Market Opportunity and Analyst Recommendations
Related Reports by Ken Research: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-automotive-lubricant-market-outlook-to-2025/484734-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/brazil-lubricants-market-outlook-to-2025/345911-100.html
Ken Research Pvt. Ltd.
Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
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