Gurugram, India, March 29, 2022 (GLOBE NEWSWIRE) -- Increase in income level generally in urban areas contributing towards increasing demand for Passenger Vehicles and a shift in preference to expensive synthetic and semi-synthetic lubricants have driven the market for Automotive Lubricants industry in recent years.
A Significant growth has been observed in the number of passenger vehicles on road majorly due to the fact that people prefer travelling by their own vehicle instead of the public transport. On an average, a passenger car and a motorcycle in Malaysia travels ~2,300 km and ~1,800 km respectively on a monthly basis. Major regional hubs in the Malaysia are the Kuala Lumpur, Penang, Perak, Selangor and Johor as majority of vehicles are located in these regions.
Impact of Covid-19: Demand of Lubricants for Heavy duty diesel vehicles was not affected as the major construction and manufacturing activities were permitted during the lockdown, whereas the sales volume of lubricants for passenger vehicles witnessed a double digit decline due to the travel restrictions by the lockdown and work from home introduced by various companies. The average km travelled by a vehicle in the country also declined since the non-essential movement was not permitted in the country. Major companies faced the challenge of importing raw materials and finished products because of the trade restrictions caused by the Covid Pandemic.
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Future Trends: Introduction of lubricants for electric vehicles would be a major trend for automotive lubricants market in Malaysia to cater the increasing number of EVs on road. Companies are being forced to change the formulations for their lubricants to cater the demand for the changing vehicle engine norms. Vehicle owners in Malaysia would be switching towards high performance lubricants despite their premium pricing. The automotive lubricants industry would also be supported by the Malaysian government's National Automotive Policy which tends to focus on strengthening the capabilities of the domestic automotive industry and creating a mechanism to promote investments to ramp up the domestic production which will result in the increased demand for automotive lubricants.
The report titled "Malaysia Automotive Lubricants Market outlook to FY2026" by Ken Research suggested that the Automotive Lubricants Market revenue is expected to grow at a double digit positive CAGR and the Automotive Lubricants Market sales volume is expected to grow at a single digit positive CAGR. The synthetic lubricants in Malaysia are expected to showcase the highest growth with a positive double digit CAGR and the passenger vehicle lubricants will occupy almost half of the market share in the coming years.
Key Segments Covered in the Report:-
- Market Size of Malaysia Automotive Lubricants in terms of Sales Volume in Mn L, 2020
- Market Size of Malaysia Automotive Lubricants in terms of Sales Revenue in MYR, 2020
- Market Segmentation of Malaysia Automotive Lubricants in terms of Sales Volume in Mn L, 2020
By End User Industry
- Passenger Vehicle
- Commercial Vehicle
- Motorcycles
- Marine
By Grade
- Synthetic
- Semi-Synthetic
- Mineral
By Type
- Passenger Car Engine Oil
- Heavy Duty Engine Oil
- Motorcycle Oil
- Gear oil and Transmission Oil
- Hydraulic Oil
- Grease and others
By Sales Channel
- OEMs
- Fuel Stations
- OEM Workshops and Spare Part Shops
- Service Stations and Garages
- Online
- Hypermarket/Supermarket
By Viscosity Grade
- 0W-20
- 5W-40
- 10W-40
- 15W-40
- 15W-50
- Others
Key Target Audience
- Lubricant Manufacturing Companies
- Oil Producers
- Lubricant Distributors
- Government Associations
Time Period Captured in the Report:-
- Historical Period: 2014–2020
- Forecast Period: 2021-2025
Key Topics Covered in the Report:-
- Automotive Lubricants Market Size on the Basis of Sales Volume and Revenue
- Automotive Lubricants Market Segmentation – By type of Lubricant, By Grade of Lubricant, By Viscosity, By End Users
- Target Addressable Audience – Passenger And Commercial Vehicles, Regional Analysis, Used Car Sales
- Supply Ecosystem and Competition Parameters
- Value chain analysis in the Automotive Lubricants Market in Malaysia
- Demand Scenario
- Trends and Developments in Automotive Industry in Malaysia
- Growth Drivers for Automotive Industry in Malaysia
- Marketing Strategies
- Challenges Faced by Lubricant Producers
- Porter Five Force Analysis
- Emerging Business Strategies
- Best Practises in Business
- Pricing Analysis
- Customer Buying Decision Paramaters
- Cross Comparison Between Major Players in The Industry
- Impact of Covid-19 on the Automotive Lubricants Industry in Malaysia
- Future Projections and Market Size for Malaysia Automotive Lubricants Industry
- Malaysia Automotive Lubricant Market
- Malaysia Lubricant Industry
- Malaysia Downstream Industry
- Malaysia Engine Oil Market
- Malaysia Synthetic Lubricant Market
- Malaysia Semi-Synthetic Lubricant Market
- Malaysia Mineral Lubricant Market
- Heavy Duty Engine Oil Market
- Malaysia Transmission Oil Market
- E-Fluids in Malaysia
- Bio-Lubricant in Malaysia
- Malaysia Motorcycle Oil Market
- Malaysia Marine Lubricant Market
- Malaysia Heavy Duty Engine Oil Market
- Automotive Lubricant Marketing Strategies
- Shell Clients in Malaysia
- COVID Impact on Automotive Lubricant Malaysia
- Castrol Automotive Lubricant Malaysia
- Malaysia Auto Lube Market
- Malaysia Automotive Grease Market
- Malaysia Gear Oil Market
- Commercial Vehicle Lubricant Market Malaysia
- Passenger Vehicle Lubricant Market Malaysia
- Malaysia Automotive Industry
- Caltex Malaysia Automotive Lubricants
Time Period in the Report:-
- Historical Period: 2014-2020
- Forecast Period: 2021F-2025F
Companies Covered:-
- Shell
- Petronas
- Total
- Chevron
- Castrol
- Hyrax
- Mobil
- Others
For More Information on the research report, refer to below link:-
Malaysia Automotive Lubricants Market outlook
Related Reports by Ken Research: -
Brazil is the largest consumer of finished lubricants in South America apart from being the largest automotive market in the region. The sheer size of the country and its favorable geographical location & macro-economic factors has compelled almost all major multinational companies to enter the market. The industry faced a decline due to the economic crisis in the country till 2016 but it experienced slow recovery from 2017 onwards. The robust automotive sector in the country is one of the largest growth drivers in the industry. Continuous investment in research & development and marketing activities by the lubricant manufacturers is positively impacting the industry's growth.
The lubricants market in Vietnam was witnessed to be growing at a steady rate both in terms of sales volume and revenue owing to rapid industrialization and growth in vehicle sales across the country. Importing majority of its base oil for blending lubricants, Vietnam market lacks refining capabilities, although there is significant presence of blending plants for lubricants. Mineral lubricants registered the highest popularity among all three grades of lubricants, courtesy their low retail price.
The lubricants market of Uganda was observed to be in its growth stage majorly due to rapid industrialization and growing sales volume of pre-owned vehicles thus, driving the demand for both automotive and industrial lubricants in the country. Presently, Uganda lubricants market is majorly importing base oil and finished products due to lack in terms of technology to extract base oil from crude oil. Over the review period, the market observed a healthy growth both in terms of revenues as well as sales volume. Major growth drivers include increase in sales of vehicles, expansion in manufacturing and construction sector and increase in disposable income of the people who could afford good quality lubricant type.
Saudi Arabia Lubricant market is at the maturity stage. Saudi Arabia Lubricants Market in terms of revenue has increased at a positive CAGR during the period 2008-2014, but due to the Oil slump in the year 2014-15, the growth of the market slowed down, hence the market is experiencing a negative growth during the period 2014-2018. This decline in growth was also due to other factors such as Economies such as China, Brazil, Russia and India whose rapid growth and expansion created an unquenchable thirst for oil initially, began to slow after 2010.
USA and Canada started exporting oil due to high oil prices, cut their oil imports, which further increased the supply of oil. Saudi Arabia's continued to supply crude oil after the fall of Oil prices in 2014 in a bid to maintain their market share with the rest of the world. The customers in the market highly price sensitive and lack of awareness about the advantages of synthetic-based lubricants over mineral-based lubricants leading to mineral oils having a higher market share. Saudi Arabia is dependent on import for Specialty lubricants and other preparatory raw materials as they constitute a niche share in the total lubricant market. The domestic demand is majorly fulfilled by global companies which produce the lubricants in the country.
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