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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Vietnam Lubricants Market Growth
The rising demand for synthetic lubricants which offer superior fuel efficiency compared to conventional lubricants, the growing demand for EV lubricants, and the increased adoption of bio-based lubricants, amid rising environmental concerns are a few of the influential market drivers that are aiding in influencing the Vietnam lubricants market dynamics and trends. Bio-based lubricants are mainly made of animal fats or plant oils and offer a low carbon footprint and reduced toxicity which makes them an attractive option among Vietnamese customers.
Another set of key drivers boosting the Vietnam lubricants market revenue is the rapid adoption of IoT-enabled sensors and telematic systems to monitor the condition of engine health and lubricant operations by automakers. Moreover, with the aid of these systems, they can analyse the data and identify the most appropriate lubricant for the proper functioning of the vehicles. Additionally, there is rising interest in customised lubricants that are tailor-made to meet specific requirements for various vehicles and their operating conditions to deliver optimal performance which boosts the growth of the Vietnam lubricants industry.
Vietnam Lubricants Market Report Snapshots
Vietnam Lubricants Market Size
Vietnam Lubricants Market Growth
Vietnam Lubricants Market Share
*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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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 6.90% between 2024 and 2032.
The market is being driven due to rising demand for synthetic lubricants which offer superior fuel efficiency compared to conventional lubricants, the growing demand for EV lubricants, and the increased adoption of bio-based lubricants, amid rising environmental concerns.
The key trends aiding the Vietnam lubricants market include the adoption of IoT-enabled sensors and telematic systems and rising interest in customised lubricants.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on base oil, market segmentations include mineral oil lubricants, synthetic lubricants, and bio-based lubricants.
Various end uses are automotive, metallurgy and metalworking, power generation, and textile, among others.
The major players in the market are Shell Plc, TotalEnergies SE, Motul S.A., Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Eneos Holdings Inc., AP SAIGON PETRO, MEKONG PETROCHEMICAL JSC, and Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam), among others.
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Australia
63 Fiona Drive, Tamworth, NSW
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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