The Thailand Lubricants market is expanding as a result of the up-scaling manufacturing industry, developing infrastructure, and development in the palm oil industry. The Thailand Lubricants market is a concentrated market with PTT Oil and Retail & The Shell Company of Thailand Limited having a major share in the market. All other players such as Chevron, Idemitsu, BP-Castrol, Eneos, Siam-Pan Group and more are niche players focusing on a small segment in the market.
- Passenger Vehicle lubricants have second major share in the market as they are lower in viscosity than diesel engine oils as they required for providing swift response.
- Thailand’s auto-related businesses, which employ significant number are reopening after months of coronavirus shutdowns. Thailand’s shift toward electric vehicles (EVs) could pummel the local auto industry.
- Thailand’s central government is working to develop its palm oil industry, and the strategy includes promoting demand for bio-lubricants, -greases and -transformer oils, the National Palm Oil Policy Committee announced recently.
