Latest News- Lubricants Market in Thailand: Mineral oil lubricants is expected to lead the Product segment during 2025-2029

The Lubricants Market in Thailand is being driven by Industrial expansion and manufacturing

The Lubricants Market in Thailand is expected to grow at a CAGR of 4.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 544.7 million. In the dynamic lubricants market of Thailand, innovation is a key trend, as consumers seek advanced products to enhance vehicle performance and cater to evolving demands. On September 5, 2024, PETRONAS Lubricants International (PLI) introduced PETRONAS Nexta, a new line of premium-quality, cost-effective engine oils. Developed at PLI's Global Research and Technology Centre in Turin, Italy, PETRONAS Nexta is designed for cost-conscious drivers. Leveraging advanced Fluid Technology Solutions from Formula One, PETRONAS Nexta promises to extend engine life, reduce maintenance costs, and improve vehicle performance. This strategic launch underscores PLI's commitment to delivering high-performance, affordable lubricants to a diverse customer base. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Mineral oil lubricants
  • Synthetic oil lubricants
  • Bio based lubricants
• Application
  • Automotive oil
  • Industrial oil
  • Metalworking fluid
  • Process oil
  • Grease
• End-user
  • Transportation
  • Industrial
• Distribution Channel
  • Direct Sales
  • Distributors
  • Online Retail
• Geography
  • Thailand

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Industrial expansion and manufacturing
• Increase in maritime and logistics operations
• Production capacity expansion by vendors

However, the market also witnesses some limitations, which are as follows:

• Fluctuating raw material costs
• Regulatory compliance
• Availability of counterfeit and low-quality products

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Market Scope in Lubricants Market in Thailand Research Report

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Research Analysis Overview

The lubricants market in Thailand encompasses various aspects such as lubricant blending, formulation, and testing for optimal lubricant performance and life. Oil analysis and degradation studies ensure lubricant quality and reliability, while contamination and disposal methods address safety concerns. Lubricant handling, storage, and distribution are crucial elements of the supply chain. Marketing, pricing, and competition drive innovation, research, and development in this sector. Trends, regulations, and regulations influence the industry's direction, focusing on cost, value, benefits, and applications for diverse industries.

Market Research Overview

The Lubricants Market in Thailand is a significant segment of the global specialty chemicals industry, encompassing engine oil, hydraulic fluid, gear oil, transmission fluid, and lubricant additives. Specialty chemicals, a subset of the global specialty chemicals market, refers to high-value-added chemicals utilized in the manufacturing of specialized products. These products include, but are not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the global specialty chemicals market's growth will be propelled by the increasing demand for specialty adhesives and sealants during the forecast period. This trend is expected to positively impact the Lubricants Market in Thailand as well, given the role of lubricant additives in enhancing the performance and longevity of these products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/