Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2021 |
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Market Overview
The Singaporean market for lubricants is expected to witness a CAGR over 3% during the forecast period (2019 – 2024). One of the major factors driving the market studied is the growing demand for new automotive vehicles. Reducing chemical production is expected to hinder the growth of the market studied.
- The automotive and other transportation industry dominated the market in 2018, and it is expected to grow during the forecast period.
- Increasing adoption of synthetic lubricants is likely to act as an opportunity in the future.
Scope of the Report
The Singapore lubricants market report includes:
| Product Type | |
| Engine Oil | |
| Transmission and Hydraulic Fluid | |
| Metalworking Fluid | |
| General Industrial Oil | |
| Gear Oil | |
| Grease | |
| Other Product Types |
| End-user Industry | |
| Power Generation | |
| Automotive and Other Transportation | |
| Heavy Equipment | |
| Food and Beverage | |
| Metallurgy and Metalworking | |
| Chemical Manufacturing | |
| Other End-user Industries |
Key Market Trends
Increasing Demand for Automotive and Other Transportation Sector
- Automotive and other transportation sector is the largest consumer of lubricants in Singapore. The lubricants are majorly used in automobiles in the form of engine oil, coolants, brake oil, and other transmission oils.
- The sales of the new motor vehicles increased rapidly over the period of 2013-2017. The reason was the rising standard of living of the middle-class population. Singapore currently has one of the highest per capita incomes.
- The Government of Singapore issues the Certificate of Entitlement (COE) to its citizens, to state the right to the ownership of a vehicle. In recent years, the government has issued a large number of COEs to the citizens, in turn, leading to the higher sales of vehicles.
- Additionally, Singapore is considered the gateway for trade in the Asia-Pacific region, owing to the infrastructure and the logistic facilities available. Also, Singapore has one of the largest ship repairing and manufacturing facilities inbound around the world.
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Growing Demand for Industrial Grease
- Grease is the thicker product formed by the suspension of oil in thickening agent and additives. It is the gel form of lubricants having multiple applications in the different end-user industries.
- Grease is majorly used for clean lubrication purposes, can provide better protection from contaminants, and also simplifies the maintenance, and reduces leaks. Grease is used as lubricating material where the internal heat generation or the external heat transfer is lower.
- In Singapore, the manufacturing activities have been gaining pace in the recent past. A downfall of industrial manufacturing was observed in the year 2016 due to the global economic crisis. However, after that, manufacturing activities have been regaining pace and further growth is expected in the near future.
- Increasing manufacturing activities and operating cycles in different industries are expected to propel the demand for grease through the study period.
Competitive Landscape
The Singapore lubricants market is fragmented. The major companies include Chevron Singapore Pte Ltd, Exxon Mobil Corporation, Royal Dutch Shell PLC, Total and Sinopec Lubricant (Singapore) Pte Ltd.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand for New Automotive Vehicles
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4.1.2 Active Ship Building and Repair Industry
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4.2 Restraints
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4.2.1 Declining Service Intervals in Industrial and Automotive Sectors
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4.2.2 Reducing Chemical Production
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4.3 Value Chain / Supply Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Engine Oil
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5.1.2 Transmission and Hydraulic Fluid
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5.1.3 Metalworking Fluid
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5.1.4 General Industrial Oil
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5.1.5 Gear Oil
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5.1.6 Grease
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5.1.7 Other Product Types
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5.2 End-user Industry
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5.2.1 Power Generation
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5.2.2 Automotive and Other Transportation
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5.2.3 Heavy Equipment
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5.2.4 Food and Beverage
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5.2.5 Metallurgy and Metalworking
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5.2.6 Chemical Manufacturing
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5.2.7 Other End-user Industries
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 AP Oil
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6.4.2 Caltex Lubricants (Chevron Singapore Pte Ltd)
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6.4.3 Castrol Limited
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6.4.4 Exxon Mobil Corporation
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6.4.5 INNOCO OIL PTE LTD
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6.4.6 Lubriplate Lubricants Company
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6.4.7 Royal Dutch Shell PLC
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6.4.8 NCH Asia
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6.4.9 Sinopec Lubricant (Singapore) Pte Ltd
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6.4.10 Texas Petrochemical Asia Pacific Pte Ltd
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6.4.11 Total
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6.4.12 Unicorn Oil Company
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Adoption of Synthetic Lubricants
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Frequently Asked Questions
What is the study period of this market?
The Singapore Lubricants Market market is studied from 2016 - 2026.
Who are the key players in Singapore Lubricants Market?
Caltex Lubricants (Chevron Singapore Pte Ltd), Exxon Mobil Corporation, Royal Dutch Shell PLC, Total, Sinopec Lubricant (Singapore) Pte Ltd are the major companies operating in Singapore Lubricants Market.
