Thailand Lubricant Market Introduction and Overview
According to SPER Market Research, the Thailand Lubricant Market is estimated to reach USD 1.08 billion by 2033 with a CAGR of 3.06%.
The report includes an in-depth analysis of the Thailand Lubricant Market, including market size and trends, product mix, distribution channels, and supplier analysis.In many mechanical systems, lubricants are vital compounds that are needed for lowering friction between moving parts. They can be found in a variety of forms, including oils, greases, and solid lubricants, and are made to reduce heat generation and wear to prolong the lifespan of machinery and equipment. Lubricants enable frictionless motion by creating a shielding film or layer between surfaces. This shielding layer prevents metal-to-metal contact, which can result in wear and wasteful energy use.
- May 2022: TotalEnergies and NEXUS Automotive extend their five-year strategic partnership. TotalEnergies Lubricants will increase its market share in the rapidly growing N! community as a result of this cooperation, which will see sales jump from EUR 7.2 billion in 2015 to roughly EUR 35 billion by the end of 2021.
- ExxonMobil Corporation was divided into three business segments on April 1 of that year: ExxonMobil Upstream Company, ExxonMobil Product Solutions, and ExxonMobil Low Carbon Solutions.
Market Opportunities and Challenges
Thailand's lubricant sector offers a variety of opportunities and difficulties. The lubricant market in Thailand is huge and expanding, providing firms with exciting potential. The need for lubricants is being driven by the nation's quickly growing manufacturing and automotive industries because these products are essential for the efficient operation of equipment and automobiles. Thailand is also a good market for lubricant makers and distributors wishing to tap into the larger Southeast Asian market due to its advantageous location as a regional trade hub. A further factor supporting the use of high-performance and environmentally friendly lubricants is growing awareness of the significance of maintenance and sustainability measures.
However, the Thai lubricant business faces a number of challenges. The presence of well-established international competitors in the business is a big impediment. Because these enterprises have significant brand awareness and distribution networks, new entrants may find it difficult to win market share. Furthermore, due to the competitive nature of the market, pricing pressures might be significant. Regulatory compliance and environmental standards are changing, necessitating lubricant makers to engage in R&D to satisfy these shifting demands.
Market Competitive Landscape
Thailand's lubricants market is fairly consolidated, with the top five businesses controlling 71.56% of the market. Bangchak Corporation, Chevron Corporation, ExxonMobil Corporation, PTT Lubricants, and Royal Dutch Shell Plc are the leading participants in this market (in alphabetical order).
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By End User
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| Regions covered | Eastern, Central, Northern, Northwest, Midwest, and Southwest Saudi Arabia
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| Companies Covered | Bangchak Corporation, BP PLC (Castrol), Chevron Corporation, ExxonMobil Corporation, PTG Energy Public Company Limited, PTT Lubricants, Royal Dutch Shell Plc, Siam Pan Group Public Co. Ltd, Thai Petroleum & Trading Co. Ltd.
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COVID-19 Impact on Thailand Lubricant Market
The COVID-19 epidemic had a huge impact on Thailand's lubricant business, as it did on many industries throughout the world. One of the immediate consequences was a dramatic drop in lubricant demand, owing mostly to lockouts, lower economic activity, and interruptions in the automotive and manufacturing sectors. These limits reduced vehicle usage, caused plant shutdowns, and slowed building activity, resulting in a decline in the need for lubricants.
The pandemic, on the other hand, highlighted the necessity of maintenance and equipment reliability, resulting in a shift in attention toward critical businesses such as healthcare, logistics, and e-commerce.
Key Target Audience:
- Automotive Industry
- Manufacturing Sector
- Transportation and Logistics
- Construction Industry
- Agriculture
- Aviation and Aerospace
- Marine Sector
- Mining and Energy
- Government and Military
- Industrial Maintenance and Service Providers
Our in-depth analysis of the Thailand Lubricant Market includes the following segments:
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By Product Type:
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Engine Oils
Greases
Hydraulic Fluids
Metalworking Fluids
Transmission
Gear Oils
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By End User:
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Automotive
Heavy Equipment
Metallurgy & Metalworking
Power Generation
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Key Topics Covered in the Report:
- Thailand Lubricant Market Size (FY’2023-FY’2033)
- Overview of Thailand Lubricant Market
- Segmentation of Thailand Lubricant Market By Product Type (Engine Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Transmission, Gear Oils, Others)
- Segmentation of Thailand Lubricant Market By End User (Automotive, Heavy Equipment, Metallurgy & Metalworking, Power Generation)
- Statistical Snap of Thailand Lubricant Market
- Expansion Analysis of Thailand Lubricant Market
- Problems and Obstacles in Thailand Lubricant Market
- Competitive Landscape in the Thailand Lubricant Market
- Impact of COVID-19 and Demonetization on Thailand Lubricant Market
- Details on Current Investment in Thailand Lubricant Market
- Competitive Analysis of Thailand Lubricant Market
- Prominent Players in the Thailand Lubricant Market
- SWOT Analysis of Thailand Lubricant Market
- Thailand Lubricant Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Thailand Lubricant Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Thailand Lubricant Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Lubricant Market
7. Thailand Lubricant Market, By Product Type (USD Million)
7.1. Thailand Lubricant Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Engine Oils
7.3. Greases
7.4. Hydraulic Fluids
7.5. Metalworking Fluids
7.6. Transmission
7.7. Gear Oils
7.8. Others
8. Thailand Lubricant Market , By End User (USD Million)
8.1. Thailand Lubricant Market Value Share and Forecast, By End User, 2023-2033
8.2. Automotive
8.3. Heavy Equipment
8.4. Metallurgy & Metalworking
8.5. Power Generation
9. Thailand Lubricant Market Forecast, 2019-2033 (USD Million)
9.1. Thailand Lubricant Market Size and Market Share
10. Thailand Lubricant Market, By Product Type, 2019-2033 (USD Million)
10.1. Thailand Lubricant Market Size and Market Share By Product Type (2019-2026)
10.2. Thailand Lubricant Market Size and Market Share By Product Type (2027-2033)
11. Thailand Lubricant Market, By End User, 2019-2033 (USD Million)
11.1. Thailand Lubricant Market Size and Market Share By End User (2019-2026)
11.2. Thailand Lubricant Market Size and Market Share By End User (2027-2033)
12. Thailand Lubricant Market, By Region, 2019-2033 (USD Million)
12.1. Thailand Lubricant Market Size and Market Share By Region (2019-2026)
12.2. Thailand Lubricant Market Size and Market Share By Region (2027-2033)
12.3. Eastern Region
12.4. Southern Region
12.5. Western Region
12.6. Norther Region
13. Company Profile
13.1. Bangchak Corporation
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. BP PLC (Castrol)
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Chevron Corporation
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. ExxonMobil Corporation
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. PTG Energy Public Company Limited
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. PTT Lubricants
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Royal Dutch Shell Plc
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Siam Pan Group Public Co. Ltd
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Thai Petroleum & Trading Co. Ltd
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
