Thailand Lubricant Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 811.16 Million Liters |
| Market Volume (2030) | 901.30 Million Liters |
| CAGR (2025 - 2030) | 2.13 % |
| Market Concentration | High |
Thailand Lubricant Market Analysis
The Thailand Lubricants Market size is estimated at 811.16 million liters in 2025, and is expected to reach 901.30 million liters by 2030, at a CAGR of 2.13% during the forecast period (2025-2030).
- Largest Segment by End-user Industry - Automotive : Due to the huge volume of engine and gear oils used in motor vehicles compared to any other industrial application, automotive was the largest end user among all categories.
- Fastest Segment by End-user Industry - Automotive : Automotive is expected to be the fastest-growing end user segment in Thailand due to the availability of low-cost used cars and the accessibility of credit financing.
- Largest Segment by Product Type - Engine Oils : Due to the high volume of engine oil and the high replacement frequency required to lubricate gasoline engines, engine oil is the most consumed product type in Thailand.
- Fastest Segment by Product Type - Transmission & Gear Oils : As Thailand expects an increase in the usage of industrial machinery and electric cars, transmission and gear oils are predicted to rise faster than other product types.
Thailand Lubricant Market Trends
This section covers the major market trends shaping the Thailand Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the automotive industry dominated the Thai lubricants market, accounting for 54% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 4.2%.
- In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 14.26% during the year, followed by heavy equipment (10.2%).
- Automotive is likely to be the fastest-growing end-user industry of the Thai lubricants market during 2021-2026, with a CAGR of 3.14%, followed by heavy equipment (2.85%). A recovery in the average mileage of vehicles and new vehicle sales will likely drive lubricant consumption from the automotive industry during the next five years.
Thailand Lubricant Industry Overview
The Thailand Lubricants Market is fairly consolidated, with the top five companies occupying 71.56%. The major players in this market are Bangchak Corporation, Chevron Corporation, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).
Thailand Lubricant Market Leaders
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Bangchak Corporation
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Chevron Corporation
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ExxonMobil Corporation
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PTT Lubricants
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Thailand Lubricant Market News
- May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.
- March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
Thailand Lubricant Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By End User
4.1.1 Automotive
4.1.2 Heavy Equipment
4.1.3 Metallurgy & Metalworking
4.1.4 Power Generation
4.1.5 Other End-user Industries
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Metalworking Fluids
4.2.5 Transmission & Gear Oils
4.2.6 Other Product Types
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Bangchak Corporation
5.3.2 BP PLC (Castrol)
5.3.3 Chevron Corporation
5.3.4 ExxonMobil Corporation
5.3.5 PTG Energy Public Company Limited
5.3.6 PTT Lubricants
5.3.7 Royal Dutch Shell Plc
5.3.8 Siam Pan Group Public Co. Ltd
5.3.9 Thai Petroleum & Trading Co. Ltd
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Thailand Lubricant Industry Segmentation
| By End User | |
| Automotive | |
| Heavy Equipment | |
| Metallurgy & Metalworking | |
| Power Generation | |
| Other End-user Industries |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Metalworking Fluids | |
| Transmission & Gear Oils | |
| Other Product Types |
Thailand Lubricant Market Research FAQs
How big is the Thailand Lubricants Market?
The Thailand Lubricants Market size is expected to reach 811.16 million Liters in 2025 and grow at a CAGR of 2.13% to reach 901.30 million Liters by 2030.
What is the current Thailand Lubricants Market size?
In 2025, the Thailand Lubricants Market size is expected to reach 811.16 million Liters.
Who are the key players in Thailand Lubricants Market?
Bangchak Corporation, Chevron Corporation, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc are the major companies operating in the Thailand Lubricants Market.
What years does this Thailand Lubricants Market cover, and what was the market size in 2024?
In 2024, the Thailand Lubricants Market size was estimated at 793.88 million Liters. The report covers the Thailand Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Thailand Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Thailand Lubricants Industry Report
Statistics for the 2025 Thailand Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
Thailand Lubricants Market Report Snapshots
