Thailand Automotive Lubricants Industry

Thailand Automotive Lubricants Market Analysis

The Thailand Automotive Lubricants Market size is estimated at 450.28 million liters in 2025, and is expected to reach 502.53 million liters by 2030, at a CAGR of 2.22% during the forecast period (2025-2030).

• Largest Segment by Vehicle Type - Commercial Vehicles : Thailand has a large active passenger vehicle parc. As a result, the lubricant consumption of this sector occupies the highest share in the overall lubricant market.
• Fastest Segment by Vehicle Type - Passenger Vehicles : The recovery in motorcycle production, usage, and sales in Thailand from 2021 are likely to support the motorcycle lubricant market's healthy growth over the coming years.
• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales and production in Thailand from 2021 is likely to drive the demand for hydraulic fluids in the country during the forecast period.

Thailand Automotive Lubricants Market Trends

Largest Segment By Vehicle Type : Commercial Vehicles

• In Thailand, motorcycles accounted for the largest share of 52.9% among the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 26.97% and 20.12%, respectively.
• The CV segment accounted for the highest share of 79% in total automotive lubricants consumption in 2020, followed by passenger vehicles (13%) and motorcycles (8%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip of 16.06%, followed by passenger vehicles (15.7%).
• The PV segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.6% during 2021-2026. The expected initiation in sales of electric vehicles and recovery in average distance traveled by existing fleets are expected to drive the PV lubricant consumption during this period.

Thailand Automotive Lubricants Industry Overview

The Thailand Automotive Lubricants Market is moderately consolidated, with the top five companies occupying around 53%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).

Thailand Automotive Lubricants Market Leaders

Thailand Automotive Lubricants Market News

• January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
• September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
• June 2021: Shell and Ezyhaul (a digital road freight platform) were working closely to transform Thailand's freight market further. The partnership is expected to provide Thai business owners with immediate access to Shell and Ezyhaul offerings and prospects to expand their operations.