Emerging Companies in Vietnam Lubricants Market: Ken Research

Vietnam’s population is anticipated to grow to 98.5 Mn with 49.9% male population and 50.7% female population. About 62.9% population is urban and the rest lives in rural area.Manufacturing sector contribute majority of 25% to the country’s GDP, with wholesale and retail at second spot (9.3%) and construction at third (5.9%).Electrical machinery & equipment, clothing & accessories are the major items exported and Electrical Machinery & Equipment, machinery including computers, and plastics are the items imported to Vietnam which stand at 400 Bn. VND and 300 Bn. VND respectively.

Market size of Vietnam lubricants: More market players are expected to enter into lubricant industry independently or with collaboration to cater rising demand from end users. Also, the direct sales of lubricants in Vietnam are expected to grow at a faster rate as companies started focusing on increasing margins and overall profits by reducing middleman. The demand of lubricants in construction industry accounts nearly several million liters in 2021 which is further expected to increase in coming years. The construction industry projected to grow by over ~% CAGR in coming years.

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Segmentation in lubricant market: The lubricant market in Vietnam in basically divided into automotive & industrial lubricants. The market for synthetic grade lubricants is projected to increase faster at ~% CAGR as compared to other grades by 2026 owing to increasing lubricant quality standard awareness among consumers and high-performance machinery are driving the growth of synthetic oils. Increasing demand for raw material such as Process Oil, used in various industries which are expanding viz., polymer industry, agriculture etc., is further pushing the demand forward.

Future Trends in Vietnam lubricant Market: The automotive segment anticipated to maintain its dominance in the Vietnam Lubricants market during forecast period 2026 owing to increasing automobiles sales whereas the growth in Industrial lubricants market is expected to increase at a faster pace during 2021-2026. With fluctuations in prices of crude oil, the prices for Automotive as well as Industrial lubricants will increase in the forthcoming years. Increasing sales of vehicles in the country further expected to increase lubricants demand by 2026.

Analysts at Ken Research in their latest publication “Vietnam Lubricant Market Outlook to 2026F-Driven by Growth in Crude Oil Import and Rising Sales of Motorcycles in the Country” by Ken Research observed that lubricant market is at rise in Vietnam at a rebounding stage from the economic crisis after pandemic. The increase in the demand of bio lubricant and increasing awareness of lubricant quality standard will further drive the market in the coming years. The Vietnam Lubricant Market is expected to grow at ~% CAGR over the forecasted period 2021-2026F.

Key Segments Covered:-

Vietnam Lubricant Market

By Type of Automotive Lubricant

Heavy duty diesel engine oilMotorcycle oilPassenger vehicle motor oilGrease

By Type of Industrial Lubricant

Process oilHydraulic oilGear oilGrease

By Type of end use of automotive lubricant

Commercial vehiclesMotor cyclePassenger carsMarineAviation

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By Type of distribution channel in automotive lubricant

Dealers and distributers networkOEM workshops and service stationOnline retail

By Type of end use of industrial lubricant

General manufacturingMetal & miningConstructionPower generation

By Type of distribution channel in industrial lubricant

Dealers and distributorsDirect sales

Key Target Audience

Lubricant companies aiming to establish into VietnamVietnam lubricant industriesGovernment Bodies & Regulating AuthoritiesAutomotive IndustryIndustrial industryMotorcycle companyLubricant dealer and users

Time Period Captured in the Report:-

Historical Year: 2016-2021Base Year: 2021Forecast Period: 2021– 2026F

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Companies Covered:-

Castrol BP Petco Co LtdShell VietnamPetrolimexTotal Vietnam Company LtdMekong Petrochemicals JSCCaltex Lubricants Vietnam LtdJX Nippon Oil & Energy Vietnam Co LtdAP Saigon Petro JSCENSOS Vietnam Co LtdKatsum Trading & Service JSCPTT Lubricants

Key Topics Covered in the Report

Country Overview of VietnamVietnam Trade AnalysisLubricants Supply and Demand Statistics, 2020Harvey Ball Analysis of Preferred Lubricants Companies in ASEAN CountriesVietnam Automotive Industry, 2021Region wise Cars and motorcycles Registration in Vietnam, 2021Cross comparison of Southeast Asian Countries on the basis of Number of Motor Vehicles and Sold by Country in 2021Ecosystem of major Entities in Vietnam Lubricants MarketBusiness Cycle and Genesis of Vietnam Lubricants MarketTimeline of major Players in Vietnam Lubricants MarketValue Chain Analysis for Vietnam Lubricants MarketVietnam Automotive & Industrial Lubricants Market Segmentation, 2021SWOT Analysis for Vietnam Lubricants MarketPorter’s Five Forces Analysis of Vietnam Lubricants MarketGrowth Enablers in Vietnam Lubricants MarketBottlenecks and Challenges in Vietnam Lubricants MarketTrends and Developments in Vietnam Lubricants MarketVietnam Lubricants Market RegulationsTax Rates for Lubricants in Vietnam, 2018-2020End User Analysis of Vietnam Lubricants MarketPricing Analysis of Automotive and Industrial Lubricants, 2021Strengths and Weaknesses of the major Industrial & Automotive Lubricant market PlayersCross Comparison of Major Players in Vietnam Lubricants MarketCovid-19 Impact on Vietnam Lubricant MarketFuture Outlook and market Size for Vietnam Lubricant Market, 2021-2026FFuture Segmentation for Vietnam Industrial Lubricant Market, 2026FFuture Segmentation for Vietnam Automotive Lubricant Market, 2026FMarket Opportunities and Analyst RecommendationsAnalyst RecommendationsResearch Methodology

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

Business opportunities in Vietnam Lubricant Market

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