The Philippines Lubricants Market is expected to generate over PHP 250 Bn revenue in 2026F owing to the rising demand of personal vehicles and future expansion strategies of market players: Ken Research

News provided by

Feb 07, 2023, 01:51 ET

GURUGRAM, India, Feb. 7, 2023 /PRNewswire/ -- The Philippines lubricants market is fragmented with too many lubricant manufacturers operating in the industry. Petron and Shell are the dominant player in Philippine's lubricants market.

Construction industry added major contribution (9.8%) to the overall GDP in Philippines in 2021. The average volume of production for the manufacturing sector in the Philippines was 81.5% in 2021 compared to 54.2% in 2020.
In 2021, the total volume of motorcycles and scooters sold in the Philippines reached ~1.4 Mn units reflecting an increase of 19.1% sales in comparison to total sales volume of 1.21 Mn in 2020.
Motor Vehicles sales in Philippines increased by 20.0% in 2021 with sales volume of 268,488 units in comparison to 223,793 units in 2020. Commercial vehicles registered higher sales volume with 183,228 units.

Increasing Population and Rise in the Disposable Personal Income: Growing middle-class incomes, higher percentage of millennial population and the subsequent increasing demands of two-wheelers and four-wheelers is increasing the production and sales of new vehicles will fuel more to the lubricants demand in the Philippines in upcoming years.

Expansion Strategies of Market Players: Petron Corporation Philippines announced completion of the constructing power plant having capacity of 184 MW by 2022 end that will cater to the power requirements of its Bataan refinery. Filipinas Shell Corporation Philippines plans to open 60 to 80 mobility sites per year. Other market players are also planning to expand customer reach by investing actively in growing number of service stations providing products and maintain extensive dealership network.

Future of Philippines Lubricants Market: Philippines Lubricants Market is expected to grow at a double digit positive CAGR of 14.4% during 2021-2026F. Owing to the booming energy sector of the Philippines, the country is anticipated to witness an increase in crude oil imports to meet the growing demand various industries under both the Industrial and Automotive sectors over the long term. Dealers Network are expected to expand their business via online and in-shop channels to offer both local and branded lubricants in distinguished quantities demanded by the customers.

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.

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.)

To learn more about this report Download a Free Sample Report

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

Visit this Link :- Request for custom report

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

For more insights on the market intelligence, refer to below link:-

Philippines Lubricants Market

Related Reports By Ken Research:-

Thailand Lubricant Market Outlook to 2026- Driven by Growth in demand for Bio-Lubricants and Major Share of Passenger Vehicle Lubricant in the Country

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, still mineral grade lubricants are expected to be preferred end user's choice. While metalworking fluid cater to very niche market but due to high price give high profit. Construction is the largest end-user segment with XX% share for Industrial lubes followed by manufacturing holding nearly XX-XX% and then metal & mining XX% then others. The growth of greases lies in range X-X% which is less than hydraulic oil, due to increasing chances of leakages in vehicles which is prevented by hydraulic oil as it prevents seal damage. For Auto Lube sales, retail shops, service stations (i.e. retail) is a most popular distribution channel in Thailand as company such as expanding it retail network viz., Bangchak plans to add around XXX new service station in 2022.

Malaysia Automotive Lubricant Market Outlook to 2025- Driven by growing adoption of high-performance lubricants, increasing vehicles on road coupled with the availability of products on E-commerce platforms

The industry experienced a major downfall in 2020 due to coronavirus pandemic, but it is expected to gain the pace and recover the loss in the next 2-3 years. Semi-Synthetic and Synthetic grades are expected to gain prominence and favor owing to demand for superior quality and increasing lubricant quality standard awareness among consumers. Introduction of electric vehicle will dampen the demand of traditional engine oil but will drive sales of E-lubricants. Market consolidation will take place as the automotive lubricant industry is a niche space and players with better geographical presence will take over others.

Brazil Lubricants Market Outlook to 2025- By Origin (Mineral, Synthetic & Semi-Synthetic), By Lubricant Type (Automotive & Industrial), By Automotive Lubricants (By Product Type, By End-Users & By Distribution Channels) and By Industrial Lubricants (By Product Type, By End-Users & By Distribution Channels)

The increasing demand from the automotive sector and the growth of end-user industries such as construction, manufacturing, plastics, machinery & equipment & metallurgy among others are expected to drive the growth of the industry. The adoption of higher quality synthetic & semi-synthetic lubricants is also expected to increase the demand for lubricants in the future. The lubricant industry is expected to witness further investments in research & development, marketing activities, and also strategic partnerships and collaborations with other players, OEMs and vehicle insurers to increase market penetration.

Australia Lubricants Market Outlook to 2027F-By Type of automotive lubricant (Heavy duty diesel engine oil/ Motorcycle oil/ Passenger vehicle motor oil/ Grease); By Type of Industrial Lubricant (Process oil/ Hydraulic oil/ Gear oil/ Grease);By Type of end user, By Type of distribution channel

Increasing production and sales of light commercial vehicles as well as heavy duty vehicles, primarily for trade transport is expected to propel demand for automotive lubricants across Australia in the coming years. Additionally, growth in automotive repair services market across the country coupled with rising adoption of synthetic and semi-synthetic lubricants is further anticipated to fuel growth in Australia automotive lubricants market during the forecast period.

Mexico Lubricants Market Outlook to 2027F- Segmented by Origin (Mineral, Synthetic & Semi-Synthetic), By Lubricant Type (Automotive & Industrial), By Automotive Lubricants (By Product Type, By End-Users & By Distribution Channels) and By Industrial Lubricants

The Mexico Lubricant Market is projected to show a significant growth, to contribute MXN ~ Bn by 2027F with rising export of Oil & Gas and rising infrastructural projects. The growth rate is anticipated to increase over the period with surge in more substitutes in market along with government incentives and policies. The industry is anticipated to increase as a result of rising demand from the automotive sector as well as the expansion of end-user industries like metallurgy, construction, manufacturing, and plastics. The need for lubricants is also anticipated to increase in the future due to the adoption of higher-quality synthetic and semi-synthetic lubricants. The lubricant industry is anticipated to boost spending on R&D, marketing, and strategic alliances and partnerships with other participants, OEMs, and auto insurance in order to enhance market penetration.

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249

Logo : https://mma.prnewswire.com/media/1954972/Ken_Research_Logo.jpg

SOURCE Ken Research