GURUGRAM, India, February 20, 2023 /PRNewswire/ — The Thailand lubricants market is expanding as a result of increased manufacturing, infrastructure development and the development of the palm oil industry. Thailand’s lubricants market is a concentrated market with PTT Oil and Retail and The Shell Company of Thailand Limited holding a significant market share. All other players like Chevron, Idemitsu, BP-Castrol, Eneos, Siam-Pan Group and more are niche players that focus on a small segment of the market.
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Passenger vehicle lubricants have the second major share in the market as they have a lower viscosity than diesel engine oils as they require a quick response.
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from Thailand Auto-related businesses, which employ a significant number of people, are reopening after months of closures due to the coronavirus. from Thailand the shift to electric vehicles (EVs) could hit the local auto industry.
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from Thailand The central government is working to develop its palm oil industry, and the strategy includes promoting demand for biolubricants, fats and processing oils, the National Palm Oil Policy Committee recently announced.
Benefits of the association: TotalEnergies, NEXUS Automotive extend the strategic partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will expand its presence in the growing community, which has experienced rapid sales growth from 2015 to 2021. In 2022, PTT announced its partnership with Aramco to strengthen the cooperation in obtaining crude oil and the marketing of refining and petrochemical products and liquefied natural gas (LNG). Thailand.
Promotion if B10 Diesel: The government continues to promote the use of B10 diesel to support palm oil farmers and prevent oil smuggling. The government has adopted a standard for B10 diesel: diesel that contains 10% renewable ingredients. B10, a 10 percent biodiesel blend, is a standard fuel that the government says supports energy sustainability Thailand.
Appearance of electric vehicles: Appearance of the electric vehicle in the country. Commercial electric vehicles are expected to enter the Thai market by 2025. By 2036, the Thai government aims to have significant charging stations and electric vehicles throughout the country. The introduction of electric vehicles and advanced machinery will increase the use of grease, but it poses a threat to the existence of motor oil. There is still low threat of substitution.
Expanding network: The expanding network of dealers and distributors has also been considered among the most preferred distribution channels for purchasing automotive lubricants in the country. Most automotive lubricants are consumed through the dealer network, where consumers can purchase the lubricants for their vehicles. Lubricants market players sell oils through their online platforms or through an e-commerce operator operating Thailand. Hence the demand for online platforms has generated more sales compared to the Supermarts and Hypermarts channel.
The report titled “Thailand Lubricants Market Outlook to 2026: Driven by Growth in Demand for Biolubricants and major part of lubricant for passenger vehicles in the country” provides a comprehensive analysis of the lubricants market a Thailand. The market is expected to expand during the period 2022-2026F Thailand to cover the consumption needs of both the industrial and automotive sectors through the transformation of mineral oils into semi-synthetic and synthetic oils. The market is expected to witness an improvement in the use of synthetic lubricants in the long term, due to the growing awareness of people to switch to better quality lubricating oils for long-term engine protection, although mineral grade lubricants are expected to be preferred. user choice. Thailand lubricants market is expected to grow at 3.7% CAGR during the forecast period 2021-2026F.
Key Segments Covered in the Report:-
Thailand lubricants market
By Typedepending on sales volume (Mn Lts)
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Industrial lubricant
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Lubricant for automobiles
By Degreedepending on sales volume (Mn Lts)
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mineral
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Semi-synthenic
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synthetic
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Thailand industrial lubricants market
By Typedepending on sales volume (Mn Lts)
For final usedepending on sales volume (Mn Lts)
By distribution channel, based on sales volume (Mn Lts)
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Network of distributors
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Direct sale
Thailand Automotive Lubricants Market:
By Typedepending on sales volume (Mn Lts)
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For final usedepending on sales volume (Mn Lts)
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Commercial vehicles
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Passenger cars
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Engine cycles
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marine
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Others (aviation, etc.)
By distribution channel, based on sales volume (Mn Lts)
Key target audience
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Manufacturers of lubricants
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Distributors of lubricants Refining companies
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Construction and Mining Industry
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General Manufacturing Industry
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Metal production industry Base oil companies
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Additive companies
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Metal production industry
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Energy generation industry
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Food processing industry
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Agricultural Industry
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Medical industry
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Automotive OEM
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Automotive dealers
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Government agencies
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Consulting and advisory companies
Time period captured in report:-
Companies covered:-
Key topics covered in the report:-
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Thailand lubricants market overview
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Market Ecosystem of Lubricants
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Business Cycle, Value Chain and Genesis of Thailand Lubricants Market Overview
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SWOT Analysis for Thailand Lubricants Market
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Porter’s Five Forces Analysis Thailand Lubricants Market
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The drivers of growth Thailand Lubricants market
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Bottlenecks and challenges a Thailand Lubricants market
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Trends and evolution in Thailand Lubricants market
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Government regulation
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Thailand Lubricant Market End User Analysis
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Impact of Covid-19 on the lubricants market in Thailand
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Competitive landscape a Thailand Lubricants market
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Thailand Lubricants Market Detailed Analysis (Market Size & Segmentation, 2016-2022; Future Market Size & Segmentation, 2022-2026F)
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Market opportunity and analyst recommendations
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Thailand lubricants market
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SOURCE Ken Research
