The Philippines lubricants market size is projected to grow at a CAGR of 5.60% between 2024 and 2032. Rising vehicle traffic is a key market driver.
Base Year
Historical Year
Forecast Year
Lubricants are liquid and semi-solid/solid substances that are typically used to reduce the amount of friction between two parts in contact. They also perform other functions like power transmission, heat regulation, and sealing against dust or dirt, apart from preventing corrosion. The increasing sale of automotives in the Philippines is expected to serve as a key market driver for lubricants over the forecast period. Moreover, the expansion of the construction sector is expected to drive the demand for metalworking, thereby enhancing Philippines lubricants market value. The expansion of renewable energy production, especially solar power is expected to accelerate the demand for lubricants for ensuring safety of electricity grids and ensuring optimum delivery of power to households.
Value in USD Million
2024-2032
Philippines Lubricants Market Outlook
*this image is indicative*
Increasing reliance on Gen AI applications; development of unique marketing strategies; rising focus on value-pool expansion; and the increasing demand for synthetic lubricants are factors impacting the Philippines lubricants market growth.
Major lubricant manufacturers are building their brand image by focusing on providing 24/7 lubricant advisory services to businesses through AI-powered tools. This is favourably shaping the Philippines lubricants market outlook.
The rising appeal for gymkhanas (motor sporting events) has helped lubricant manufacturers to enhance their brand image and drive sales growth.
The global value pool of lubricants is expected to reach 44% by 2035, due to the rising penetration of higher-margin products. This is expected to positively impact the Philippines lubricants market dynamics.
This can be attributed to the development of advanced chemicals that enhance the performance of machinery in the industrial sector.
Unique marketing strategies that drive customer engagement are crucial for driving sales growth. Major lubricant manufacturers are adopting new technologies that facilitate stock monitoring and remote equipment maintenance via IoT. This is enabling them to optimise sales and operations planning and achieving greater customer intimacy. Moreover, increasing investments in advanced-analytics solutions is enabling lubricant manufacturers to enhance the efficiency of industrial fluid-management system, thereby enhancing lube quality.
Though electric vehicles are expected to witness a surge in adoption, the demand for lubricants is expected to persist, especially from the FMCG and non-road transportation sector (railway, seaways, and airways). Branded products are expected to earn high premiums, and the increasing demand for synthetic lubricants is expected to drive market growth over the forecast period.
The EMR’s report titled “Philippines Lubricants Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Base Oil
Breakup by Product Type
Breakup by End Use
Based on product type, the market is segmented into engine oils, greases, hydraulic fluids, metalworking fluids, and transmission and gear oils, among others. Engine oils is projected to dominate the market, representing 85% of the overall market share. Over the forecast period, transmission and gear oil is expected to grow at a CAGR of 5.9% because of increasing initiatives to adapt existing versions of lubricants to suit electric vehicles, given the acceleration in its rate of adoption.
Major players are integrating IoT devices into their lubricant manufacturing facilities to improve their remote monitoring capabilities and reduce machinery downtime, thereby ensuring a significant Philippines lubricants market share.
Shell Plc was founded in 1890 in London. It is primarily engaged in the production of petrochemicals and energy, while employing 103,000 people worldwide and catering to over 1 million industrial and commercial customers daily.
TotalEnergies SE was founded in 1924 in France. It is primarily engaged in the production of biofuels and natu...
Chevron Corp. was founded in 1879 in San Francisco, USA. It is primarily engaged in the production of oil and ...
It was founded in 1909 and is based in London. It is primarily involved in oil and gas production, besides the...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the Philippines lubricants market report are PTT Public Company Limited, Eneos Holdings Inc., Petron Corporation, SEAOIL Philippines, Inc., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is assessed to grow at a CAGR of 5.60% between 2024 and 2032.
The different segments considered in the market report are mineral oil lubricants, synthetic lubricants, and bio-based lubricants.
The different types of products in the market are engine oils, greases, hydraulic fluids, metalworking fluids, and transmission and gear oils, among others.
The different end uses of lubricants are automotive, metallurgy and metalworking, power generation, and textile, among others.
Key players in the market are Shell Plc, TotalEnergies SE, Chevron Corp., BP Plc, PTT Public Company Limited, Eneos Holdings Inc., Petron Corporation, SEAOIL Philippines, Inc., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Base Oil |
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| Breakup by Product Type |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Australia
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+61 448 06 17 27
India
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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