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

The Malaysia Lubricants Market size is estimated at 504.32 Million Liters in 2024, and is expected to reach 534.03 Million Liters by 2026, growing at a CAGR of 2.9% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by End-user Industry - Automotive : Automotive was the largest end-user segment among all segments in Malaysia due to the higher amount of lubricants used in vehicles compared to industrial applications.
• Fastest Segment by End-user Industry - Power Generation : Power generation is expected to be the fastest-growing end user in Malaysia due to the rising usage of natural gas reactors and wind turbines for energy generation.
• Largest Segment by Product Type - Engine Oils : Due to the varying engine sizes of cars, trucks, and buses, and their high oil changing frequencies, engine oil is the majorly used product category in Malaysia.
• Fastest Segment by Product Type - Transmission & Gear Oils : Increasing adoption of automatic transmission cars and recovery in manufacturing activities are likely to augment the demand for transmission and gear oils at a healthy rate.

Malaysia Lubricants Market Trends

Largest Segment By End User : Automotive

• In 2020, the Malaysian lubricant market was dominated by the automotive industry, which accounted for around 70% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 25%.
• In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 9.3% during the year over 2019, followed by heavy equipment (7.4%).
• Power generation is likely to be the fastest-growing end-user industry of the market studied, with a CAGR of 3.92% during 2021-2026, followed by automotive (3.77%). The expanding power generation capacity in the country is likely to drive the consumption of lubricants in the sector.

Malaysia Lubricants Industry Overview

The Malaysia Lubricants Market is fairly consolidated, with the top five companies occupying 81.80%. The major players in this market are BP PLC (Castrol), Chevron Corporation, PETRONAS Lubricants International, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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