Philippines Automotive Engine Oils Forecast Trends - Market Size, Share, Growth Analysis Report (2024-2032)

Philippines Automotive Engine Oils Market Growth

The growth of the automotive sector, rising awareness among vehicle owners regarding engine efficiency, choosing eco-efficient engine oils, and the gradual shift towards adoption of synthetic oils are some of the major drivers for automotive engine oils demand in Philippines.

There is a noticeable shift in the country from traditional mineral oils to synthetic oils which offer improved performance, greater engine protection in difficult conditions, and longer intervals between oil changes. This transition is especially gaining popularity among owners of new vehicles or high-performance cars.

According to the Philippines automotive engine oils industry analysis, advancements in engine oil technology such as the development of multi-grade oils and additives that improve oil efficiency and engine protection, are influencing consumer preferences and patterns of usage in the market. For instance, unlike traditional single-grade oils, which are only suitable for specific temperature ranges, multi-grade oils can adapt to different conditions, which has made them highly popular among customers.

Key Trends and Recent Developments

Increased passenger transport, rising automobile sales, adoption of electric vehicles, and preference for sustainable engine oils are key trends accelerating the Philippines engine oils market value.

May 2023

Motul Philippines launched the new 8100-Power ester engine oils with its regional distributor Infiniteserv International at the Philippines Trans Sport Show 2023. The engine oils are 100% synthetic, formulated with high-performance lubricant using the Ester technology. They are ideal for high-performance vehicles requiring API SP-grade lubricants and have been tested extensively for the same.

April 2023

Japanese motor oil company Idemitsu launched a series of its latest engine oil brands in the Philippines through its subsidiary Idemitsu Lubricants Philippines, Inc. The series includes IFG (Idemitsu Four-wheelers’ Gasoline), IFD (Idemitsu Four-wheelers’ Dual), and IRG (Idemitsu Riders’ Gasoline). While IFG and IFD series engine oils are best suited for car owners who are quite particular with their engine oil preferences, the IRG series is known to offer high performance at high temperatures for bike owners.

October 2022

Japan’s leading motor oil company ENEOS launched its fully synthetic and mineral-based engine oils in the Philippines known to deliver exceptional performance, long-term protection, and reduced fuel consumption. Additionally, the engine oils are ecologically sustainable for both gasoline as well as diesel engines. ENEOS claimed that it sees huge growth potential in the Philippines automotive engine oils market owing to its positive economic outlook and preference for Japanese brands.

March 2021

Suzuki Philippines launched their engine oil brand, Ecstar for automobiles, motorcycles, and marine outboard doors. It comes in two distinct formulations: semi-synthetic 5W-30, and fully synthetic 0W-20. Both formulations provide strong engine protection, high performance and optimal efficiency for Suzuki automobile gasoline engines.

Increasing Passenger Transport Will Drive Automotive Engine Oils Demand Growth

The growing population in the Philippines is increasing the demand for passenger transport. According to the Philippine Statistics Authority, the country’s population is expected to grow for the next 35 years and will reach around 114.2 million by 2025. The increasing population will raise the sales volume of passenger vehicles and thus have a positive impact on the growth of the market.

Growing Automobile Sales Will Positively Impact Industry Growth

According to the International Trade Administration, the Philippines witnessed a 27% rise in automobile sales between 2021 and 2022 owing to favourable prices and financial packages offered by industry players. These trends are expected to remain consistent throughout the forecast period making it easier to purchase vehicles, thereby leading to the growth of the Philippines automotive engine oils market.

Adoption of Electric Vehicles Will Create New Market Opportunities for the Industry

Electric vehicles are in high demand among the Filipino population owing to growing concerns about environmental sustainability. According to the Electric Vehicle Association of the Philippines (EVAP), EV adoption in the country will increase to 6.6 million by 2030, out of which 3.6 million are estimated to be e-bikes and the rest are estimated to be private electric cars. This will create new market opportunities for the industry players, thereby increasing the Philippines automotive engine oils market revenue.

Ecological Concerns Leading to Increased Preference for Sustainable Engine Oils

Conventional engine oils are known to contaminate the environment and cause harmful effects. This has led to the growth of sustainable automotive engine oils. Industry players are investing in the research and development of environment-friendly synthetic and mineral-based alternatives eyeing future growth and sustainability.

Philippines Automotive Engine Oils Industry Segmentation

“Philippines Automotive Engine Oils Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Mineral
• Semi-Synthetic
• Fully Synthetic

Market Breakup by Vehicle Type

• Passenger Vehicles
• Motorcycles
• Commercial Vehicles 

Market Breakup by Engine Type

• Gasoline
• Diesel
• Alternative Fuel

Philippines Automotive Engine Oils Market Share

Based on engine type, the market is divided into gasoline, diesel, and alternative fuel. Gasoline holds the largest market share due to the abundance of cars, motorcycles, and scooters running on gasoline in the country which has resulted in an increased need for engine oils specifically designed for gasoline engines. Additionally, regular oil changes are necessary for gasoline engines to ensure optimal performance and longevity of vehicles, thereby creating a consistent demand for gasoline-based engine oils.

Leading Companies in the Philippines Automotive Engine Oils Market

The market players are readily developing bio-based engine oils amid the rising environmental concerns in the country.

• Shell Plc
• TotalEnergies SE
• Chevron Corp.
• BP Plc
• Eneos Holdings Inc.
• Petron Corporation
• Idemitsu Kosan Co., Ltd.
• Hinduja Group Ltd.  (Gulf Oil International Ltd.)
• Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
• Others