4 trends driving the Netherlands Lubricants Market : Ken Research

Storyline

• Dutch government's emphasis on high-tech manufacturing and industrial automation has spurred the demand for specialized lubricants in automotive, warehousing, and semiconductor sectors.

• The sale of used vehicles in the Netherlands has surged by 16%, reaching 1.33 Mn vehicles from 2017 to 2021, driving the need for aftermarket services, including lubricants.

• The rising popularity of ride-sharing mobility is projected to increase shared car numbers by 17.7% annually, reaching around 337,000 cars by 2030, resulting in a higher demand for lubricants due to increased wear and tear.

Introduction

Foreign Direct Investment (FDI) in the industrial sector has been on the rise, with various sub-sectors attracting significant attention. Among them, food processing, electronic components, and machinery manufacturing stand out as top sectors, requiring specialized lubricants. The Netherlands, known for its thriving food industry, has over 7,300 food companies generating a substantial USD 88 Bn in revenue in 2021.

1. Growing FDI in Industrial Sector
Total value of Foreign Direct Investments (FDI) in the Netherlands from 2015 to 2021.

Top sub-sectors of FDI: Food processing, electronic components and machinery manufacturing, etc., requiring specialized lubricants. The FDI data reached an all-time high of 260.5 USD bn in Sep 2007 and a record low of -280.6 USD bn in Dec 2018. In the latest reports of Netherlands, Current Account recorded a surplus of 4.4 USD bn in Dec 2022.

Netherlands has 7,300+ food companies generating USD 88 Bn (2021).
As incoming FDI increases in electronic components, machinery manufacturing and food processing sectors, demand for lubricant automatically increases. As these industries require lubricants, therefore lubricant market expands.

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2. Rise in Complex Manufacturing Capabilities
The High-Tech Top Sector is characterized by large multinationals such as Philips, ASML, NXP, Océ and Tata Steel and international collaboration with high-tech SMEs, universities and knowledge institutes such as the Holst Centre and the Embedded Systems Institute. The High-Tech Top Sector employs 452,000 FTE in the Netherlands, which represents 6.46% of the Dutch employment market. The sector encompasses different disciplines such as materials production, automotive and the high-tech manufacturing industry and is closely interwoven with the Logistics Top Sector and the Information and Communication Technologies (ICT) services industry.

High tech & complex manufacturing is the key focus of the Dutch government. In this, industrial automation in automotive, warehousing, semiconductors, etc., are becoming key users of hydraulic systems & fluids used at high temperatures and in automated machineries, like robotic arms, joints and hinges.

3. Rising Demand for Second Hand Cars
Number of second-hand passenger cars sold in the Netherlands in 2017 and 2018, by car model

The sale of used vehicles in the Netherlands has experienced a remarkable growth trajectory in recent years, facilitated by the presence of popular classified portals like Ooyyo, Marktplaats, AutoScout24, and others. From 2017 to 2021, the number of used vehicles sold through these platforms witnessed a substantial 16% increase, reaching a significant milestone of 1.33 Mn vehicles.
This surge in the sale of used vehicles has created a ripple effect across the automotive industry, driving the demand for various aftermarket services, including lubricants. When purchasing a used vehicle, one of the key considerations for buyers is to ensure the optimal performance and longevity of the vehicle. This is where lubricants play a vital role.

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4. Increasing Demand for Ride Sharing Mobility
The number of shared cars would grow by 17.7% yearly, from ~78,000 in 2021 to ~337,000 in 2030, generating revenue of USD 30 Mn by 2030. Average daily distance travelled by shared car is 93 Km, while private car travels 46 Km. This increases the need for constant change of lubricants due to higher wear & tear in shared cars.

Conclusion

With growing FDI in the industrial sector, the Netherlands sees a rising need for specialized lubricants in sub-sectors like food processing, electronics, and machinery manufacturing. The government's emphasis on high-tech manufacturing drives lubricant demand in industrial automation. The surge in used vehicle sales and the popularity of ride-sharing contribute to the expanding lubricant market. These trends position the Netherlands' lubricant industry for sustained growth and opportunities in the future.

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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. Our Solutions are driven by qualitative and quantitative evaluation of markets across diverse Sectors and Geographies. We assist clients in their objectives related to market entry, product pricing, Product-fit evaluation, competition benchmarking, forecasting business planning and financial planning.

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