- Thailand lubricant market grew at a robust CAGR of in the period 2016-2021, generating very high revenue in 2021
Increasing demand for bio-lubricants is expected to drive the Thailand Lubricants Market in forthcoming years owing to continuous growth in the manufacturing sector along with the blooming metals & mining industry. Government initiatives such as emergence of EVs and B10 Diesel towards promoting bio-lubricants and other oil regulations will further drive the market further extending its reliability.
- Automotive Lubricants are expected to dominate the market share in 2026F; whereas mineral grade lubricant is expected to be preferred type of lubricant in Thailand.
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.
- The Thailand Lubricants Market is expected to showcase positive outlook, owing to the rising demand of lubricants and expansion of market players in upcoming years.
The expanding network of dealers and distributors has also been considered among the most preferred distribution channels to purchase automotive lubricants in the country. Majority of the automotive lubricants were consumed through Dealer network, where consumers can purchase the lubricants for their vehicles. Lubricant market players such as Castrol and Exonmobil sell oils either through their online platforms or through an e-commerce player like Alibaba.com and Shopee operating in Thailand. Hence the demand for online platforms have generated more sales in comparison to the supermarkets and hypermarkets channel.