Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Vietnam Lubricants Market Size

The Vietnam lubricants market is projected to grow at a CAGR of 6.90% between 2024 and 2032.

 

Vietnam Lubricants Market Outlook

  • As per the industry reports, the total automobile sales in Vietnam were around 404,294 units in 2023, boosting the demand for lubricants.
  • The Vietnamese government plans to boost the production of EVs so they can account for approx. 10 per cent of the total sales of new vehicles by 2030, which can fuel the growth of specialised EV lubricants.
  • Industry 4.0 is an emerging trend in the market which can gauge the performance and function of lubricants and identify what improvements can be made.

 

Vietnam Lubricants Market Report Snapshots

Vietnam Lubricants Market Size

Vietnam Lubricants Market Growth

Vietnam Lubricants Market Share

Vietnam Lubricants Companies

 

*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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63 Fiona Drive, Tamworth, NSW

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C130 Sector 2 Noida, Uttar Pradesh 201301

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40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

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6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

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193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

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