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Opportunities in Lubricant Industry, Philippines Lubricant Market - Ken Research

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Philippines Lubricants Market Outlook to 2021: Ken ResearchKen Research announced its latest publication on “ Philippines Lubricants Market by Type (Mineral,…
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Philippines Lubricants Market Outlook to 2021: Ken ResearchKen Research announced its latest publication on “ Philippines Lubricants Market by Type (Mineral, Semi-Synthetic an d Synthetic), by Application (Automotive – Passenger, Commercial, Marine and Aviation and Industrial – Mining, Construction, Manuf acturing, Iron and Steel, Agriculture, Electricity and Medical) to 2021 ”Outlook suggested a rapid growth in the Philippines lubricants market, majorly driven by boosting crude oil imports, thus assisting market players to offer more lubricants in the country. The stakeholders of this report include lubricant manufacturers, dealers, companies involved in research, automotive workshop ownersin the Philippines and the new entrants and venture capitalists who wish to invest in lubricant market in future. Detailed comparative analysis of major lubricant market players has also been provided. Various marketing analysis factors such as trends and developments and SWOT analysis are also added in the study. The future analysis of the overall Philippines lubricants market has also been discussed along with recommendations from analyst view. Philippines Lubricant Market Size There has been a tremendous growth in the consumption of both automotive and industrial lubricants during 2011 to 2016. Consumption of lubricants in the Philippines has been reported at ~million liters in 2011, which witnessed a healthy growth over the subsequent five years, recording consumption of ~ million liters in 2016, at a CAGR of ~% during the same period. Increasing sales ofvehicles in the country has been the strongest factor affecting the lubricants market revenues in a positive manner. The overall revenues generated by the market players in the Philippines lubricants market augmented to USD ~ million during 2016 from USD ~ million during 2011, at a CAGR of ~% between 2011 and 2016. The increased sales were also supported by the continuous improvement in the refining process of the existing players and the up gradation of refineries by the lubricants giants operating in the country. Philippines Lubricant Market Segmentation Mineral lubricants have dominated the overall lubricant consumption in the Philippines during 2011 and 2016. Since, these lubricants need to be changed more often; the market has witnessed a decline in demand from ~% share in the consumption in 2011 to ~% share in 2016. The share of semi-synthetic lubricants in the total consumption has inclined from ~% in 2011 to ~% in 2016, owing to an increaseduse of such products by both the customers of synthetic and mineral lubricants. The share of synthetic based oils in the total consumption has inclined from ~% in 2011 to ~% in 2016, majorly due to their ability to offer superior lubrication in modern car engines as compared to mineral and semi-synthetic lubricants. Automotive lubricants have gathered the largest share in the market in terms of consumption. The share of automotive lubricants in the total consumption has inclined from ~% in 2011 to ~% in 2016. The boosting sales of automobiles in the country have significantly led to the increased consumption of automotive lubricants during 20112016. The share of industrial lubricants has declined as compared to the automotive segment from 2011 to 2016. The share of industrial lubricants in the total consumption has declined from ~% in 2011 to ~% in 2016.Automotive and Industrial Lubricant Market Size There has been a significant growth in the consumption of automotive lubricants in the Philippines over the period 2011-2016. There volume of lubricants consumed by the vehicle owners in the country inclined from ~ million liters in 2011 to ~ million liters during 2016. It has been witnessed that automobile owners started shifting to the use synthetic oils from other conventional lubricants during the same period. The industrial sector in the Philippines has been growing over the recent past. This has led to the installation of more machinery and equipments required by the market players operating in construction, manufacturing, agriculture, mining, iron and steel, electricity and healthcare sector. The overall consumption of industrial lubricants inclined to ~ million liters during 2016 from ~ million liters during 2011.Market Share of Major Players in the Philippines Lubricants Market Shell was the leading player in terms of sales volume from in the Philippines in 2016. Shell dominated the overall market with ~ million liters sale during 2016, due to the wide product range offered by the company for various automotive engines in the country. With the presence of more than ~ service stations and the increasing demand for Petron Blaze 100, which matches the European quality standards, Petron has proved to be the second largest player in the lubricants market in the Philippines in 2016, contributing ~ million liters to the overall sales volume. Chevron grabbed a significant position in terms of sales volume as it is the first American oil marketer in the country which focuses on selling imported lubricants. The player sold ~ million liters of lubricants during 2016. Exxon Mobil was also amongst the major market players and contributed ~ million liters to the market volume during the same year.Philippines Lubricant Market Future Outlook and Projections The overall consumption of lube oils in the Philippines lubricants market is projected to increase to ~ million liters during 2021 from ~ million liters during 2016, at a CAGR of ~% during the same period. The revenues generated by the lubricants market players are projected to boost from USD ~ million in 2016 to USD ~ million in 2021, recording a robust CAGR of ~% during the period 2016-2021. The economy of the Philippines is expected to witness more than ~ new manufacturing units, wherein the consumption of lube oils for machines is projected to increase during 2016-2021. The initiative of the government and tourism department with a long term view to connect all islands of the Philippines through sea route is expected to enhance the marine transportation, thereby leading to more lubricants being consumed by the ships and boats.Automotive lubricants are anticipated to dominate the overall consumption of lube oils in the Philippines with ~% in 2021. The continuous rise in the sales of vehicles due to rising per capita income of the country is expected to amplify the consumption of semi-synthetic and synthetic lubricants, which are most preferred for engines installed in new and upcoming cars. The consumption of industrial lubricants is also estimated to surge to ~ million liters due to the establishments of new manufacturing units and the installation of machinery in the plants. Key Topics Covered in the Report: •Philippines Lubricant Market Size by Consumption Volume and Revenue •Market Segmentation - By Type of Lubricants (Mineral-Based, Semisynthetic and Synthetic); By Application (Automotive and Industrial) •Philippines Automotive Lubricant Market Size by Consumption Volume•Trends Lubricant Philippines •Engine Oil Market Philippines •Lubricant Import in Philippines •Industry Growth Lubricant Philippines •PTT Lubricant Market Share Philippines •Philippines Industrial Lubricant Market Size by Consumption Volume •Brake Fluid Market Philippines •Hydraulic Oil Market Philippines •Gear Oil Industry Size Philippines •Value Chain Analysis for the Philippines Lubricants Market •SWOT Analysis for the Philippines Lubricants Market •Automotive Gear Oil Market Philippines •Metal Working Fluids Market Philippines •Market Share Lubricant Players Philippines •Trends, Developments, Growth Drivers and Restraints in the Philippines Lubricants Market•Market Share of Major Players in the Philippines Lubricants Market •Company Profiles of Major Lubricant Market Players •Future Outlook for the Philippines Lubricant Market •Macro-Economic Factors Impacting the Philippines Lubricant Market •Competition Lubricant Philippines •Opportunities in Lubricant Industry •Growth Drivers Lubricant Philippines For more information on the research report, refer to below link: https://www.kenresearch.com/automotive-transportation-and-w arehousing/automotive-and-automotive-components/philippines -lubricants-market/142268-100.htmlRelated Reports by Ken Research https://www.kenresearch.com/automotive-transportation-and-war ehousing/automotive-and-automotive-components/south-africa-lu bricant-market-report/42049-100.html https://www.kenresearch.com/automotive-transportation-and-wa rehousing/automotive-and-automotive-components/thailand-lubr icant-market/142264-100.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204
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