Episode 38: TotalEnergies’ Vincent Minard on Asia’s lubricants market outlook
Vincent Minard is a seasoned veteran with two decades of experience within TotalEnergies’ Marketing & Services. His journey with TotalEnergies has taken him across continents, from the bustling cities of Europe to the dynamic markets of Asia, shaping his expertise in lubricants, OEM partnerships, and retail management. He is currently vice president of Lubricants, Specialties & BtoB, responsible for Asia Pacific and the Middle East based in Singapore.
One of the crown jewels in TotalEnergies’ portfolio is their state-of-the-art lubricant blending plant in Singapore. As the largest of its kind within the company, this facility serves as a central hub for the Asia Pacific and Middle Eastern markets. The strategic choice of Singapore as its location was influenced by the city-state’s existing infrastructure and its pivotal position for accessing surrounding markets.
The COVID-19 pandemic tested the resilience of industries worldwide, and the lubricants sector was no exception. Minard recounts the challenges faced during this period, from supply chain disruptions to demand fluctuations. However, TotalEnergies’ centralized production in Singapore proved to be a competitive advantage, allowing them to maintain a steady supply to their customers despite global uncertainties.
In the global arena, TotalEnergies holds the fourth position among lubricant players, with leadership in regions such as Europe, Africa, and the Middle East. The company’s brand strategy has been a key factor in this success. By leveraging its Total and Elf brands, TotalEnergies continues to cater to a wide range of market needs, from high-end automotive products to specialized industrial applications.
The Asian market, with its contrasting mature and rapidly developing economies, presents unique challenges and opportunities. Minard observes a trend towards premiumization, as consumers gradually recognize the value of higher-quality lubricants. Minard emphasizes the importance of innovation, customer education, and sustainability in driving TotalEnergies’ success in the lubricants market. Despite the challenges posed by market dynamics and the shift towards electric vehicles, the company remains committed to delivering high-quality products and services while contributing to a greener future.
