Vietnam Automotive Lubricant Market Introduction and Overview
According to SPER Market Research, the Vietnam Automotive Lubricant Market is estimated to reach USD XX million by 2033 with a CAGR 4.58%.
The report includes an in-depth analysis of the Vietnam Automotive Lubricant Market, including market size and trends, product mix, distribution channels, and supplier analysis. By minimizing friction and wear between moving parts, automotive lubricants help cars maintain their performance and longevity. This category includes a variety of products, such as engine oil, which lubricates and cools the engine while also keeping it clean; transmission fluid, which ensures smooth operation and hydraulic pressure in automatic transmissions; and grease, which is used in components such as wheel bearings and chassis for long-term protection. These lubricants can be mineral-based or synthetic, with synthetics often giving better temperature stability and performance. Regular use of the optimum automobile lubricant is critical for improving vehicle performance and avoiding costly repairs.
- In January 2022, ExxonMobil Corporation was divided into three business lines: ExxonMobil Upstream Company, ExxonMobil Product Solutions, and ExxonMobil Low Carbon Solutions.
- In April 2021, Motul launched two engine oils, CLASSIC NINETIES 10W-30 and CLASSIC EIGHTIES 10W-40, for classic cars manufactured between the 1970s and 2000s.
- In March 2021, Castrol has added Castrol ON (a Castrol e-fluid line that comprises e-gear oils, coolants, and greases) to its product portfolio. This range is specifically developed for electric vehicles.
Market Opportunities and Challenges
Opportunities: The automotive lubricant market in Vietnam offers numerous potential for expansion. With a fast developing middle class and increased disposable budgets, more people are buying personal and commercial automobiles, increasing the demand for high-quality lubricants. Furthermore, Vietnam's strategic location within ASEAN promotes trade and investment, inviting foreign lubricant producers to set up local manufacturing and distribution networks. The transition to environmentally friendly and high-performance lubricants is also offering opportunities for novel products. Furthermore, the Vietnamese government's measures to improve infrastructure and promote electric vehicles indicate the possibility for innovative lubricant formulas tailored to developing technology. As competition heats up, companies that prioritize R&D, smart marketing tactics, and the establishment of robust distribution networks will be well-positioned to profit on this developing industry.
Challenges: The Vietnamese automotive lubricant market confronts a number of difficulties that could stifle expansion. One major issue is fierce rivalry among both domestic and international brands, which leads to price wars that reduce profit margins. Furthermore, the absence of defined rules and quality control methods in the lubricant industry can result in a flood of inferior products, making it impossible for consumers to distinguish quality. Furthermore, shifting raw material costs have an impact on the market, potentially disrupting pricing strategy and production consistency. The growing emphasis on sustainability puts pressure on producers to innovate, necessitating major expenditure in R&D for environmentally friendly formulas. Finally, a lack of consumer understanding about the benefits of high-quality lubricants limits market growth.
Market Competitive Landscape
The Vietnam automotive lubricant market is characterized by intense competition among established international brands and emerging local players, each vying for market share through pricing strategies and product innovation. With increasing consumer awareness and demand for high-quality lubricants, companies are focusing on differentiation and sustainability to capture growth opportunities. Some of the leading participants in the animal feed additives industry include AP Saigon Petro JSC, BP Plc (Castro), Chevron Corporation, ENEOS Corporation, ExxonMobil Corpooration, Idemitsu Kosan Co. Ltd, Mekong Petrochemical JSC, Motul, Petrolimex (PLX), PVOIL, Royal Dutch Shell Plc, Total Energies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Vehicle Type, By Product Type, By Fluid Type |
| Regions covered | Northern Vietnam, Central Vietnam and Southern Vietnam |
| Companies Covered | AP Saigon Petro JSC, BP Plc (Castro), Chevron Corporation, ENEOS Corporation, ExxonMobil Corpooration, Idemitsu Kosan Co. Ltd, Mekong Petrochemical JSC, Motul, Petrolimex (PLX), PVOIL, Royal Dutch Shell Plc, Total Energies. |
COVID-19 Impact on Vietnam Automotive Lubricant Market
The COVID-19 epidemic had a substantial impact on the automotive lubricant market in Vietnam, causing a temporary drop in demand due to reduced vehicle usage and interrupted manufacturing activity. Lockdowns and limitations impacted supply systems, resulting in delays in raw material procurement and distribution. As automotive sales fell in 2020, so did lubricant use, particularly in areas like commercial transportation. However, as the economy progressively recovered and consumer confidence restored, car sales and maintenance activities increased, resulting in a comeback in lubricant demand. The epidemic has also expedited the shift to online sales channels, driving businesses to improve their digital presence and e-commerce strategy. Moving forward, the market is projected to gain from more maintenance and service as vehicle owners strive to improve performance after long periods of inactivity.
Key Target Audience
- Vehicle Owner
- Commercial Vehicle Operators
- Automotive Workshops and Service Centres
- OEMs (Original Equipment Manufacturer)
- Retailers and Distributors
Our in-depth analysis of the Vietnam Automotive Lubricant Market includes the following segments:
| By Vehicle Type: | Commercial VehicleMotorcyclesPassenger Vehicles |
| By Product Type: | Engine OilsGreasesHydraulic FluidsTransmission & Gear Oils |
| By Fluid Type: | ConventionalSyntheticSemi-Synthetic |
Key Topics Covered in the Report
- Vietnam Automotive Lubricant Market Size (FY’2024-FY’2033)
- Overview of Vietnam Automotive Lubricant Market
- Segmentation of Vietnam Automotive Lubricant Market By Vehicle Type (Commercial Vehicle, Motorcycles and Passenger Vehicles.)
- Segmentation of Vietnam Automotive Lubricant Market By Product Type (Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils)
- Segmentation of Vietnam Automotive Lubricant Market By Fluid Type (Conventional, Synthetic, Semi-Synthetic)
- Statistical Snap of Vietnam Automotive Lubricant Market
- Expansion Analysis of Vietnam Automotive Lubricant Market
- Problems and Obstacles in Vietnam Automotive Lubricant Market
- Competitive Landscape in the Vietnam Automotive Lubricant Market
- Impact of COVID-19 and Demonetization on Vietnam Automotive Lubricant Market
- Details on Current Investment in Vietnam Automotive Lubricant Market
- Competitive Analysis of Vietnam Automotive Lubricant Market
- Prominent Players in the Vietnam Automotive Lubricant Market
- SWOT Analysis of Vietnam Automotive Lubricant Market
- Vietnam Automotive Lubricant Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Vietnam Automotive Lubricant Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Vietnam Automotive Lubricant Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Automotive Lubricant Market
7. Vietnam Automotive Lubricant Market, By Vehicle Type (USD Million) 2020-2033
7.1. Vietnam Automotive Lubricant Market Size, Share and Forecast, By Vehicle Type, 2020-2026
7.2. Vietnam Automotive Lubricant Market Size, Share and Forecast, By Vehicle Type, 2027-2033
7.3. Commercial Vehicle
7.4. Motorcycles
7.5. Passenger Vehicles
8. Vietnam Automotive Lubricant Market, By Product Type (USD Million) 2020-2033
8.1. Vietnam Automotive Lubricant Market Size, Share and Forecast, By Product Type, 2020-2026
8.2. Vietnam Automotive Lubricant Market Size, Share and Forecast, By Product Type, 2027-2033
8.3. Engine Oils
8.4. Greases
8.5. Hydraulic Fluids
8.6. Transmission & Gear Oils
9. Vietnam Automotive Lubricant Market, By Fluid Type, 2020-2033 (USD Million)
9.1. Vietnam Automotive Lubricant Market Size and Market Share By Fluid Type (2020-2026)
9.2. Vietnam Automotive Lubricant Market Size and Market Share By Fluid Type (2027-2033)
9.3. Conventional
9.4. Synthetic
9.5. Semi-Synthetic
10. Vietnam Automotive Lubricant Market Forecast, 2020-2033 (USD Million)
10.1. Vietnam Automotive Lubricant Market Size and Market Share
11. Vietnam Automotive Lubricant Market, By Region, 2020-2033 (USD Million)
11.1. Vietnam Automotive Lubricant Market Size and Market Share By Region (2020-2026)
11.2. Vietnam Automotive Lubricant Market Size and Market Share By Region (2027-2033)
11.3. Northern Vietnam
11.4. Central Vietnam
11.5. Southern Vietnam
12. Company Profile
12.1. AP Saigon Petro JSC
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. BP Plc (Castrol)
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Chevron Corporation
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. ENEOS Corporation
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. ExxonMobil Corporation
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Idemitsu Kosan Co. Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Mekong Petrochemical JSC
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Motul
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Petrolimex (PLX)
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. PVOIL
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Royal Dutch Shell Plc
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Total Energies
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links