Philippines Lubricants Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2025-2034)
Description
The Philippines lubricants market was valued at USD 622.10 Million in 2024. The industry is expected to grow at a CAGR of 3.00% during the forecast period of 2025-2034 to attain a valuation of USD 836.05 Million by 2034.
Philippines Lubricants Market Growth
Lubricants are liquid and semi-solid/solid substances that are typically used to reduce the amount of friction between two parts in contact. They also perform other functions like power transmission, heat regulation, and sealing against dust or dirt, apart from preventing corrosion. The increasing sale of automotives in the Philippines is expected to serve as a key market driver for lubricants over the forecast period. Moreover, the expansion of the construction sector is expected to drive the demand for metalworking, thereby enhancing Philippines lubricants market value. The expansion of renewable energy production, especially solar power is expected to accelerate the demand for lubricants for ensuring safety of electricity grids and ensuring optimum delivery of power to households.
Key Trends and Developments
Increasing reliance on Gen AI applications; development of unique marketing strategies; rising focus on value-pool expansion; and the increasing demand for synthetic lubricants are factors impacting the Philippines lubricants market growth.
June 8, 2024
Shell Lubricants introduced Shell LubeAnalyst, a comprehensive service designed for checking the lubrication systems of machines and fleet engines in the Philippines.
July 3, 2024
ExxonMobil Asia Pacific Pte. Ltd. made Juliana Holdings, Inc. the official distributor of their lubricant products and associated services in the Philippines.
April 2, 2024
General Petroleum introduces a new range of innovative automotive lubricants aimed at meeting the diverse needs of consumers and businesses based in the Philippines. This is expected to facilitate the Philippines lubricants market expansion.
April 2, 2024
Honda Philippines inaugurated a new facility for solar power generation at Tanauan, Batangas to offset its carbon emissions.
Increasing reliance on Gen AI applications
Major lubricant manufacturers are building their brand image by focusing on providing 24/7 lubricant advisory services to businesses through AI-powered tools. This is favourably shaping the Philippines lubricants market outlook.
Development of unique marketing strategies
The rising appeal for gymkhanas (motor sporting events) has helped lubricant manufacturers to enhance their brand image and drive sales growth.
Rising focus on value-pool expansion
The global value pool of lubricants is expected to reach 44% by 2035, due to the rising penetration of higher-margin products. This is expected to positively impact the Philippines lubricants market dynamics.
Increasing demand for synthetic lubricants
This can be attributed to the development of advanced chemicals that enhance the performance of machinery in the industrial sector.
Philippines Lubricants Market Trends
Unique marketing strategies that drive customer engagement are crucial for driving sales growth. Major lubricant manufacturers are adopting new technologies that facilitate stock monitoring and remote equipment maintenance via IoT. This is enabling them to optimise sales and operations planning and achieving greater customer intimacy. Moreover, increasing investments in advanced-analytics solutions is enabling lubricant manufacturers to enhance the efficiency of industrial fluid-management system, thereby enhancing lube quality.
Though electric vehicles are expected to witness a surge in adoption, the demand for lubricants is expected to persist, especially from the FMCG and non-road transportation sector (railway, seaways, and airways). Branded products are expected to earn high premiums, and the increasing demand for synthetic lubricants is expected to drive market growth over the forecast period.
Philippines Lubricants Industry Segmentation
The EMR’s report titled “Philippines Lubricants Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Base Oil:
Based on product type, the market is segmented into engine oils, greases, hydraulic fluids, metalworking fluids, and transmission and gear oils, among others. Engine oils is projected to dominate the market, representing 85% of the overall market share. Over the forecast period, transmission and gear oil is expected to grow at a CAGR of 5.9% because of increasing initiatives to adapt existing versions of lubricants to suit electric vehicles, given the acceleration in its rate of adoption.
Leading Companies in the Philippines Lubricants Market
Major players are integrating IoT devices into their lubricant manufacturing facilities to improve their remote monitoring capabilities and reduce machinery downtime, thereby ensuring a significant Philippines lubricants market share.
Shell Plc
Shell Plc was founded in 1890 in London. It is primarily engaged in the production of petrochemicals and energy, while employing 103,000 people worldwide and catering to over 1 million industrial and commercial customers daily.
TotalEnergies SE
TotalEnergies SE was founded in 1924 in France. It is primarily engaged in the production of biofuels and natural gas for a sustainable future. As per Philippines lubricants market analysis, it is present in nearly 120 countries worldwide.
Chevron Corp.
Chevron Corp. was founded in 1879 in San Francisco, USA. It is primarily engaged in the production of oil and gas, petrochemicals, lubricants, fuels, and chemicals.
BP plc
It was founded in 1909 and is based in London. It is primarily involved in oil and gas production, besides the construction of EV charging stations. It is also exploring the potential of hydrogen as a fuel of the future.
Other players included in the Philippines lubricants market report are PTT Public Company Limited, Eneos Holdings Inc., Petron Corporation, SEAOIL Philippines, Inc., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
Philippines Lubricants Market Growth
Lubricants are liquid and semi-solid/solid substances that are typically used to reduce the amount of friction between two parts in contact. They also perform other functions like power transmission, heat regulation, and sealing against dust or dirt, apart from preventing corrosion. The increasing sale of automotives in the Philippines is expected to serve as a key market driver for lubricants over the forecast period. Moreover, the expansion of the construction sector is expected to drive the demand for metalworking, thereby enhancing Philippines lubricants market value. The expansion of renewable energy production, especially solar power is expected to accelerate the demand for lubricants for ensuring safety of electricity grids and ensuring optimum delivery of power to households.
Key Trends and Developments
Increasing reliance on Gen AI applications; development of unique marketing strategies; rising focus on value-pool expansion; and the increasing demand for synthetic lubricants are factors impacting the Philippines lubricants market growth.
June 8, 2024
Shell Lubricants introduced Shell LubeAnalyst, a comprehensive service designed for checking the lubrication systems of machines and fleet engines in the Philippines.
July 3, 2024
ExxonMobil Asia Pacific Pte. Ltd. made Juliana Holdings, Inc. the official distributor of their lubricant products and associated services in the Philippines.
April 2, 2024
General Petroleum introduces a new range of innovative automotive lubricants aimed at meeting the diverse needs of consumers and businesses based in the Philippines. This is expected to facilitate the Philippines lubricants market expansion.
April 2, 2024
Honda Philippines inaugurated a new facility for solar power generation at Tanauan, Batangas to offset its carbon emissions.
Increasing reliance on Gen AI applications
Major lubricant manufacturers are building their brand image by focusing on providing 24/7 lubricant advisory services to businesses through AI-powered tools. This is favourably shaping the Philippines lubricants market outlook.
Development of unique marketing strategies
The rising appeal for gymkhanas (motor sporting events) has helped lubricant manufacturers to enhance their brand image and drive sales growth.
Rising focus on value-pool expansion
The global value pool of lubricants is expected to reach 44% by 2035, due to the rising penetration of higher-margin products. This is expected to positively impact the Philippines lubricants market dynamics.
Increasing demand for synthetic lubricants
This can be attributed to the development of advanced chemicals that enhance the performance of machinery in the industrial sector.
Philippines Lubricants Market Trends
Unique marketing strategies that drive customer engagement are crucial for driving sales growth. Major lubricant manufacturers are adopting new technologies that facilitate stock monitoring and remote equipment maintenance via IoT. This is enabling them to optimise sales and operations planning and achieving greater customer intimacy. Moreover, increasing investments in advanced-analytics solutions is enabling lubricant manufacturers to enhance the efficiency of industrial fluid-management system, thereby enhancing lube quality.
Though electric vehicles are expected to witness a surge in adoption, the demand for lubricants is expected to persist, especially from the FMCG and non-road transportation sector (railway, seaways, and airways). Branded products are expected to earn high premiums, and the increasing demand for synthetic lubricants is expected to drive market growth over the forecast period.
Philippines Lubricants Industry Segmentation
The EMR’s report titled “Philippines Lubricants Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Base Oil:
- Mineral Oil Lubricants
- Synthetic Lubricants
- Bio-Based Lubricants
- Engine Oils
- Greases
- Hydraulic Fluids
- Metalworking Fluids
- Transmission and Gear Oils
- Others
- Automotive
- Metallurgy and Metalworking
- Power Generation
- Textile
- Others
Based on product type, the market is segmented into engine oils, greases, hydraulic fluids, metalworking fluids, and transmission and gear oils, among others. Engine oils is projected to dominate the market, representing 85% of the overall market share. Over the forecast period, transmission and gear oil is expected to grow at a CAGR of 5.9% because of increasing initiatives to adapt existing versions of lubricants to suit electric vehicles, given the acceleration in its rate of adoption.
Leading Companies in the Philippines Lubricants Market
Major players are integrating IoT devices into their lubricant manufacturing facilities to improve their remote monitoring capabilities and reduce machinery downtime, thereby ensuring a significant Philippines lubricants market share.
Shell Plc
Shell Plc was founded in 1890 in London. It is primarily engaged in the production of petrochemicals and energy, while employing 103,000 people worldwide and catering to over 1 million industrial and commercial customers daily.
TotalEnergies SE
TotalEnergies SE was founded in 1924 in France. It is primarily engaged in the production of biofuels and natural gas for a sustainable future. As per Philippines lubricants market analysis, it is present in nearly 120 countries worldwide.
Chevron Corp.
Chevron Corp. was founded in 1879 in San Francisco, USA. It is primarily engaged in the production of oil and gas, petrochemicals, lubricants, fuels, and chemicals.
BP plc
It was founded in 1909 and is based in London. It is primarily involved in oil and gas production, besides the construction of EV charging stations. It is also exploring the potential of hydrogen as a fuel of the future.
Other players included in the Philippines lubricants market report are PTT Public Company Limited, Eneos Holdings Inc., Petron Corporation, SEAOIL Philippines, Inc., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
Table of Contents
126 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Lubricants Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Lubricants Historical Market (2018-2024)
- 5.3 Asia Pacific Lubricants Market Forecast (2025-2034)
- 6 Philippines Lubricants Market Overview
- 6.1 Key Industry Highlights
- 6.2 Philippines Lubricants Historical Market (2018-2024)
- 6.3 Philippines Lubricants Market Forecast (2025-2034)
- 7 Philippines Lubricants Market by Base Oil
- 7.1 Mineral Oil Lubricants
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Synthetic Lubricants
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Bio-Based Lubricants
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 8 Philippines Lubricants Market by Product Type
- 8.1 Engine Oils
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Greases
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Hydraulic Fluids
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Metalworking Fluids
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Transmission and Gear Oils
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Philippines Lubricants Market by End Use
- 9.1 Automotive
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Metallurgy and Metalworking
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Power Generation
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Textile
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators of Demand
- 10.4 Key Indicators of Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 Shell Plc
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 TotalEnergies SE
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Chevron Corp.
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 BP Plc
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 PTT Public Company Limited
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Eneos Holdings Inc.
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Petron Corp.
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 SEAOIL Philippines, Inc.
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 Hinduja Group Ltd. (Gulf Oil International Ltd.)
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
Pricing
Currency Rates
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