Indonesia Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2021 - 2026)

The Indonesia Lubricants Market size is estimated at 1.02 Billion Liters in 2024, and is expected to reach 1.10 Billion Liters by 2026, growing at a CAGR of 3.85% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by End-user Industry - Automotive : Automotive was the largest end user among all end-user segments due to the high proportion of active vehicle fleet and consumer activity than any industrial application.
• Fastest Segment by End-user Industry - Automotive : Due to the accessibility of low-cost used cars and the low-interest credit financing, automotive is likely to be the fastest-growing end user of lubricants in Indonesia.
• Largest Segment by Product Type - Engine Oils : Engine oil is the largest consumed product category in Indonesia due to the varying engine sizes of cars, motorcycles, trucks, and buses and high oil changing frequencies.
• Fastest Segment by Product Type - Transmission & Gear Oils : As Indonesia expects an increase in the usage of industrial machinery and electric cars, transmission and gear oils are predicted to rise faster than other product types.

Indonesia Lubricant Market Trends

Largest Segment By End User : Automotive

• In 2020, the Indonesian lubricant market was dominated by the automotive sector, which accounted for around 60% of the total lubricant consumption in the country. During 2015-2019, lubricants consumption in the automotive industry increased by around 21%.
• In 2020, COVID-19 pandemic-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 11.6%, followed by heavy equipment (8.1%), during the year.
• Automotive is likely to be the fastest-growing end-user segment of the market studied and is expected to record a CAGR of 5.2% over 2021-2026, followed by heavy equipment (4.07%). The passenger vehicle and motorcycle sales and growth in average travel rates are likely to drive the consumption of the automotive sector during 2021-26.

Indonesia Lubricant Industry Overview

The Indonesia Lubricants Market is fairly consolidated, with the top five companies occupying 81.17%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, PT Pertamina, PT Wiraswasta Gemilang Indonesia (Evalube) and Royal Dutch Shell PLC (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support