Market Overview

Outlook on the Automotive Lubricants Market in Malaysia to 2021 by Product and Formulation - Rising Vehicle Ownership & Distance Traveled Continue to Bolster Lubricant Sales - ResearchAndMarkets.com

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The "Automotive
Lubricants Market in Malaysia by Market, Product and Formulation"

report has been added to ResearchAndMarkets.com's
offering.

This study presents historical demand data (2006, 2011, and 2016) and
forecasts for 2021 by market (light vehicles, medium & heavy vehicles,
off-highway equipment, motorcycles), by product (engine oils,
transmission & hydraulic fluids, gear oils & greases), and formulation
(conventional, synthetic, re-refined/bio-based).

The study also evaluates company market share and analyzes industry
suppliers including:

  • BP
  • Chevron
  • Exxon Mobil
  • PETRONAS
  • Shell

Expanding Motor Vehicle Use & Passenger Car Ownership Levels
Fuel Lubricant Sales

Demand will be supported by ongoing growth in the average distance
driven by motor vehicles in the country, continued increases in vehicle
ownership, a rebound in motor vehicle production, and an expanding
economy that will increase shipping activity, construction spending, and
agricultural output.

Key Findings

Rising Vehicle Ownership & Distance Traveled Continue to Bolster
Lubricant Sales

Malaysia is unique among most Southeast Asian nations in that household
vehicle ownership rates approximate those of many higher-income
countries. As such, Malaysia features a relatively large motor vehicle
park that offers significant opportunities for suppliers of engine oils
and other automotive lubricants. Malaysians are also expected to
continue driving more kilometers per year, supporting more frequent
aftermarket lubricant purchases.

However, the relatively young age and advanced state of Malaysia's motor
vehicle fleet will have a moderating effect on lubricant sales, as
modern vehicle engine technologies allow for longer drain intervals.

Performance Advantages Boost Sales of Synthetic Formulations

Synthetic formulations will continue to capture market share from
conventional lubricants, due largely to performance benefits, including
enhanced fuel economy and improved engine protection. Consumers in
Malaysia are increasingly selecting synthetics, despite their premium
price, in order to better protect what is considered a significant
household investment. In addition, marketing campaigns by lubricant
suppliers and recommendations for synthetic products by motor vehicle
OEMs are raising consumer awareness of the advantages of these
lubricants.

Highly Concentrated Industry Led by Oil Producers with Key Consumer
Brands

Malaysia's market for automotive lubricants is highly concentrated among
a few firms, all of which are major, multinational oil producers.
State-run PETRONAS is the only Malaysia-based lubricants supplier that
ranks among the global market leaders. Each of the top producers has
gained their market share primarily through the marketing of light
vehicle engine oil brands (such as BP's Castrol and Shell's Shell Helix
products).

For more information about this report visit https://www.researchandmarkets.com/research/wf9p9k/outlook_on_the?w=4

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