Thailand: Market for Petroleum Lubricating Oil And Grease 2025

Market Size for Petroleum Lubricating Oil And Grease in Thailand

The Thai market for petroleum lubricating oil and grease shrank slightly to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Petroleum lubricating oil and grease consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Thailand

In value terms, petroleum lubricating oil and grease production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Thailand

After two years of growth, overseas shipments of petroleum lubricating oil and grease decreased by X% to X tons in 2022. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, petroleum lubricating oil and grease exports expanded modestly to $X in 2022. Over the period under review, exports, however, saw strong growth. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Indonesia (X tons), Vietnam (X tons) and China (X tons) were the main destinations of petroleum lubricating oil and grease exports from Thailand, together accounting for X% of total exports. Malaysia, Singapore, Myanmar, Lao People's Democratic Republic, Pakistan, the Philippines, Cambodia, Japan and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) were the largest markets for petroleum lubricating oil and grease exported from Thailand worldwide, together comprising X% of total exports. China, Vietnam, Pakistan, Lao People's Democratic Republic, the Philippines, Myanmar, Japan, Cambodia and Australia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Pakistan, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Thailand

In 2022, approx. X tons of petroleum lubricating oil and grease were imported into Thailand; with a decrease of X% on 2021. Overall, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports fell to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Thailand, with a combined X% share of total imports. Italy, Germany, France, Singapore, South Korea, India, Belgium, the Netherlands, the UK and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum lubricating oil and grease suppliers to Thailand were Japan ($X), the United States ($X) and China ($X), with a combined X% share of total imports. Singapore, Germany, France, Italy, Belgium, South Korea, India, the UK, the Netherlands and Canada lagged somewhat behind, together comprising a further X%.

Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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