Lopal Tech. Singapore Pte launched its global lubricant brand dubbed TrisonicTM yesterday in Bangkok, Thailand. Lopal Tech. Singapore is a wholly owned subsidiary of China’s Jiangsu Lopal Tech. Co. Ltd., one of China’s leading independent lube manufacturer.
The move is in line with Lopal Tech. Singapore’s expansion of its lubricant business in Southeast Asia and eventually, the world.
Shi Junfeng, chairman of Jiangsu Lopal Tech. Co., said that the company sees great potential in Thailand for its TrisonicTM lubricant brand, which aims to compete in the mid-tier to premium tier market dominated by major international oil companies such as Shell, ExxonMobil, and BP. Last night’s celebration held at the Pullman King Power Hotel in Bangkok was the culmination of nine months of grueling work to bring out a completely new brand that is now available in Thailand through a strategic partnership with Anusorn Petroleum and has actually been exported to China, to compete with Lopal’s own local brands.
“Thailand is our choice for TrisonicTM global launch for many reasons. Thailand is the second largest lubricant market in Southeast Asia with world-class lubricant manufacturing facilities,” Shi said. TrisonicTM products are currently being produced in Thailand by P.S.P. Specialties Co. Ltd., through a toll-blending arrangement.
“With business expansion, we will continue to expand our manufacturing footprint to bring us closer to our target markets and to better serve our customers,” said Winston Fong, general manager of Lopal Tech. Singapore.
Shi said that initially, the company will focus on the automotive market. Thailand’s total lubricant market is estimated at 500 million litres per annum, of which 350 million litres are automotive lubricants. He added that the lubricant market in Thailand has been dominated by PTT, as well as many global and regional lubricant players. The market also attracts many new players because of its size.
The total vehicle population in Thailand is 36 million, consisting of 20 million motorcycles, eight million passenger cars, six million pick-up trucks, and another one million trucks and buses, which require lubricants, lubricating greases, and other fluids. Thailand is also a regional vehicle production and export base for the world’s top carmakers with annual vehicle exports exceeding one million units and the second largest pick-up truck market in the world behind the U.S.A.
“Thailand is also the fifth biggest producer of motorcycles in the world after China, India, Indonesia, and Vietnam,” said Shi.
The company’s growth ambition for TrisonicTM is to expand the brand rapidly into the Asia-Pacific and Africa regions in the next five years, and to all potential markets around the world within 10 years.
“TrisonicTM represents best-in-class products and service guided by global market trends and consumers’ needs and demands. Our products are developed through on-going new product research & development to serve and meet the current and future vehicle technology. Our top-tier TrisonicTM engine oil products are registered and approved by API [American Petroleum Institute] and further supported with official approval from the Thailand Ministry of Energy, which is one of the world’s most stringent government engine oil approval system,” said Fong.
Fong said that the initial launch of TrisonicTM products in Thailand will cover a full range of automotive lubricants; from passenger car motor oils (PCMO), motorcycle engine oils, heavy-duty engine oils (HDEO), automatic transmission fluids and automotive gear oils.
He said that the initial key marketing objectives of TrisonicTM in Thailand are to focus on introducing the brand, creating brand awareness, with an emphasis on why using good quality oil is important to vehicle owners and consumers. For the next phase, the brand will focus on the rapid expansion of retail channels such as automotive parts distributors or suppliers, and workshops through close co-operation with exclusive distributors.