The report titled “Vietnam Lubricants Market Outlook to 2023 - By Grade (Mineral, Semi-Synthetic and
Synthetic Lubricants), By Application (Automotive and Industrial) By Type of
Automotive and Industrial Lubricants, By End User of Automotive and Industrial
Lubricants End User, and By Distribution Channel of Automotive and Industrial
Lubricants”
provides information on overview of the
lubricants market in Vietnam, Vietnam lubricants market size by revenue and by
sales volume, Vietnam lubricants market segmentation by grade (mineral,
semi-synthetic and synthetic lubricants), by application (automotive and
industrial) by type of automotive lubricant (heavy duty diesel engine oil,
motorcycle oil, passenger car motor oil, hydraulic oil, gear oil and greases),
by automotive end user (commercial vehicles, motorcycles, passenger cars and
marine vessels), by automotive distribution channel (dealer and distributor
network, OEM workshops and service stations and supermarket and online retail),
by industrial type (hydraulic oil, metal cutting fluid, industrial gear oil,
industrial grease, turbine oil, transformer oil, compressor oil and others), by
industrial end user (manufacturing, steel projects, construction, power
generation and others), by industrial distribution channel (direct sales and
dealer and distributor network). The report also covers value chain analysis,
competition landscape, trends and developments, issues and challenges, end user
analysis and government regulations pertaining to lubricants market in Vietnam.
The report concludes with future outlook of lubricants in Vietnam and certain
recommendations highlighting the success factors for entering and expanding in
the market.
Vietnam Lubricants Market
Overview and Size
The lubricants
market in Vietnam was witnessed to be growing at a steady rate both in terms of
sales volume and revenue owing to rapid industrialization and growth in vehicle
sales across the country. Importing majority of its base oil for blending
lubricants, Vietnam market lacks refining capabilities, although there is
significant presence of blending plants for lubricants. Mineral lubricants
registered the highest popularity among all three grades of lubricants,
courtesy their low retail price.
Vietnam Lubricants Market
Segmentation
By
Origin (Mineral, Semi-Synthetic and Synthetic Lubricants)
Mineral based
lubricants dominated the market with a leading share in the overall lubricant
sales in the year 2018. Higher grade lubricants which are Semi-Synthetic and
Synthetic grew their popularity during the period 2013-2018 due to the growing
awareness among end users and the growing demand for superior quality.
By
Application (Automotive and Industrial)
Automotive
lubricants had a greater presence in Vietnam, holding a leading share out of
the sales volume in the year 2018. Motorcycles and commercial vehicles were the
dominant category in the automotive lubricants segment, while Heavy Duty Diesel
Engine Oil and Motorcycle Oil were the leading types. Distribution of
automotive lubricants took place primarily through dealer and distributor
networks of lubricant companies in the market. On the other hand, industrial
lubricant growth was driven by the end users in the manufacturing and steel
sector in Vietnam.
By
Automotive Lubricant type (Heavy Duty Diesel Engine Oil, Motorcycle Oil,
Passenger Car Motor Oil, Hydraulic Oil, Gear Oil and Greases)
Heavy Duty
Diesel Engine Oil held a leading share in the automotive lubricant sales in
Vietnam in the year 2018. High lubricant volume utilized in commercial vehicles
and a high frequency of lubricant change ensured the dominance of Heavy Duty
Diesel Engine Oil and a large circulation of motorcycles catapulted the share
of motorcycle oil to the second highest in the market.
By
Automotive End User (Commercial Vehicles, Motorcycles, Passenger Cars and
Marine Vessels)
Commercial
vehicles and Motorcycles led the market for the end users in the automotive
lubricant segment. Passenger Cars held a low share due to the lower
motorization rate in Vietnam and the high preference of motorcycles over cars
as modes of passenger transport.
By
Automotive Distribution Channel (Dealer and Distributor network, OEM Workshops
and Service Stations and Supermarket and Online Retail)
Dealer and
Distributor Network held the leading share in the distribution channels for
automotive lubricant in Vietnam. The share of supermarkets and online retail is
low due to the low trust level attributed and relatively new status of these
modes of distribution.
By
Industrial Type (Hydraulic Oil, Metal Cutting Fluid, Industrial Gear Oil,
Industrial Grease, Turbine Oil, Transformer Oil, Compressor Oil and Others)
Hydraulic Oil
segment lead the market of Industrial Lubricants in Vietnam in the year 2018.
The segment earned a high share accruing to their indispensability in varied
industrial uses and applications. In addition, Metal Cutting Fluid was the
second largest type, with hydraulic oils.
By
Industrial End User (Manufacturing, Steel Projects, Construction, Power
Generation and Others)
Manufacturing
industry which includes auto parts, paper, chemicals, food processing and
electric appliances held the largest share out of the industrial lubricant
sales in the year 2018 in Vietnam. In addition, Steel projects held the second
largest share in end users of industrial lubricants in Vietnam.
By
Industrial Distribution Channel (Direct Sales and Dealer and Distributor
Network)
Direct Sales
dominated the distribution channels of industrial lubricant in Vietnam in the
year 2018. Preferring to sign long term contracts with lubricant providers,
industrial players generally prefer the direct sales avenue to reduce margins
and middlemen.
Competitive
Landscape in Vietnam Lubricants Market
Competition
stage in the Vietnam Lubricants Market was observed to be moderately
concentrated in the year 2018. The market contains an amalgamation of foreign
and local firms with foreign firms dominating the market, holding more than
half of the share in the market as of 2018. The market is led by Castrol BP
Petco, a joint venture of English petroleum giant BP and local company
Petrolimex in terms of sales volume. Other major players of the market include
PLC (Petrolimex Petrochemical Corporation), Shell, Total, Chevron and Mekong
Lubricants. Competition driving factors in the market include lubricant price,
distribution network and brand reputation.
Vietnam
Lubricants Market Future Outlook and Projections
The lubricants
market in Vietnam is expected to grow at a steady rate with Sales Volume of
lubricants forecasted to grow at a healthy rate year on year over till the year
2023. Growth is expected to be driven by increasing automotive sales with
passenger car sales and commercial vehicle sales expected to rise. However, the
growth in sale of motorcycles is expected to stabilize accruing to the ban on
motorcycles in Hanoi, projected to be implemented full till 2030. The forecast
for Industrial Lubricant growth in Vietnam is positive, with inflow of steel
projects, rise in manufacturing projects and increasing power generation
abilities expected to elevate the share of industrial lubricants in the overall
lubricant sales volume by 2023. Semi-Synthetic and Synthetic grades are
expected to gain prominence and favor among the consumer segment of the market
owing to demand for superior quality and increasing lubricant quality standard
awareness among consumers. Their combined share is expected to rise by 2023.
Key
Segments Covered:-
By Grade
Mineral based
Lubricants
Semi-Synthetic
Lubricants
Synthetic
Lubricants
By
Application
Automotive
Lubricants
Industrial
Lubricants
By
Automotive Lubricant Type
Heavy Duty
Diesel Engine Oil
Motorcycle Oil
Passenger Car
Motor Oil
Hydraulic Oil
Gear Oil
Greases
By
Automotive Lubricant End User
Commercial
Vehicles
Motorcycles
Passenger Cars
Marine Vessels
By
Automotive Lubricant Distribution Channel
Dealer and
Distributor Network
OEM Workshops
and Service Stations
Supermarket and
Online Retail
By
Industrial Lubricant Type
Hydraulic Oil
Metal Cutting
Fluid
Industrial Gear
Oil
Industrial
Grease
Turbine Oil
Transformer Oil
Compressor Oil
Others (Anti
Rust Oil and Cleaner Oil)
By
Industrial Lubricant End User
Manufacturing
Steel Projects
Construction
Power Generation
Others
(Textiles, Chemicals and Auto Parts primarily)
By
Industrial Lubricant Distribution Channel
Direct Sales
Dealer and
Distributor Network
Key
Target Audience:-
Auto And Auto
Component Manufacturers
Manufacturing
Companies
Steel Production
Companies
Metal Working
Companies
Auto And Auto
Component Manufacturers
Construction
Companies
Textile
Companies
Cement Companies
Mining Companies
Power Generation
Companies
Food &
Beverage Companies
Petroleum and
Lubricant Associations
Time
Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2018-2023E
Companies Covered:-
Castrol BP Petco
Petrolimex Petrochemical Corporation (PLC)
Shell Vietnam
Chevron
Total
Mekong Lubricants
Idemitsu Lube Vietnam
JX Nippon Oil and Energy
ExxonMobil
Vilube Motul
Valvoline
Honda
Yamaha Lube
Sinopec
Key Topics Covered in the Report:-
Value Chain in
Vietnam Lubricants Market
Vietnam
Lubricants Market Genesis and Overview
Stakeholders in
Vietnam Lubricants Market
Vietnam
Lubricants Market Size, 2013-2018
Vietnam
Lubricants Market Segmentation, 2018
Regulatory
Landscape in Vietnam Lubricants Market
End User Analysis
in Vietnam Lubricants Market
Trends and
Developments in Vietnam Lubricants Market
Issues and
Challenges in Vietnam Lubricants Market
Porter’s Five
Forces Analysis of Competition in Vietnam Lubricants Market
Competitive
Landscape in Vietnam Lubricants Market
Company Profiles
of Major Players in Vietnam Lubricants Market
Product
Portfolio of Major Players in Vietnam Lubricants Market
Vietnam
Lubricants Market Future Outlook and Projections, 2018-2023E
Analyst
Recommendation for Vietnam Lubricants Market
For more information on the research report, refer to below
link:-
Related Reports:-
Nice articles and your information valuable and good articles thank for the sharing information Oil Blending Plant
ReplyDelete