Demand for Industrial Lubricants in Malaysia Driven by Mounting Foreign Investments, Increased Number of Establishments and Increased Demand in End User Industries: Ken Research

“The National Policy on Industry designed by government of Malaysia, which is also called as Industry4WRD, is aimed at making the manufacturing sector rely more on technology and less on capital and labour to increase the overall productivity. The Gross Value Added by manufacturing sector in 2018 was about MYR 334 Billion thereby recording a growth rate of about 4% during 2018 and is expected to increase to approximately MYR 455 Billion by 2023”.

Analysts at Ken Research in their latest publication “Malaysia Industrial Lubricants Market Outlook to 2023 - By Origin (Mineral Lubricants, Semi-Synthetic Lubricants and Synthetic Lubricants), By Industrial Lubricants (Hydraulic Oils, Industrial Greases, Metal Working Fluid/Cutting Oil, Industrial Gear Oil, Turbine Oil, Compressor Oil and Others), By End Users (Construction & Mining, General Manufacturing, Power Generation, Metal Production, Food Processing, Cement Industry and Others), By Distribution Channel (Direct Sales and Dealer Network)” believes that growth in manufacturing sector, increased construction projects and increase in number of establishments would lead to growth in industrial lubricants market in Malaysia by a positive growth rate of about 3%.

Boost in Foreign Investments: The new Malaysian government has focused on encouraging foreign investments and entrepreneurships into the country through various schemes and initiatives. These initiatives attracted new foreign investments in the manufacturing sector such as MYR 11.7 billion from United States, MYR 4.8 billion from China and MYR 3.1 billion from Singapore in the last 2-3 years. These investments in manufacturing sectors led to overall increase in production and capacity expansion, thereby leading to increased demand for industrial lubricants in the country.

Rising Investment in Construction Sector: With an aim to make Malaysia a developed nation by 2020, the government of Malaysia has been investing in many construction and infrastructure development projects in the country. Some of the construction projects which have been initiated and are anticipated to be completed in next 5-7 years include Kuala Lumpur to Singapore High Speed Rail, Pan-Borneo Highway, Forest City, Kuantan port expansion. These and similar other construction projects have led to increase in demand for industrial lubricants in the country and are projected to drive future growth as well.

Competition Landscape:  The players in Malaysia industrial lubricants market are highly competitive and majorly compete on parameters such as price, quality, after sales support, terms of payment, distribution network and product portfolio and specification/grade. In terms of market share, the market has been dominated by international player, Shell, followed by national oil and gas company of Malaysia PETRONAS. With an approximate number of players (manufacturers, importers etc.) to be in the range of 100-150 and there is further anticipation for emergence of new players in the market in coming years owing to positive growth potential.

Key Segments Covered:-

Malaysia Industrial Lubricants Market

By Origin

Mineral Lubricant

Semi Synthetic Lubricant

Synthetic Lubricant

By Type of Industrial Lubricants

Hydraulic Oil

Industrial Greases

Metal working Fluid/Cutting Oil

Gear Oil

Turbine Oil

Compressor Oil

Others

By Industrial End Users

Construction & Mining

General Manufacturing

Power Generation

Metal Production

Food Processing

Cement Industry

Other End Users

By Sales Channel

Direct Sales

Dealer Network

By Origin of Sales

Kuala Lumpur

Sabah

Sarawak

By Type of Packaging

Barrels & Drums

Small Packs

IBC (Intermediate Bulk Containers)

Key Target Audience:-

Industrial Lubricant Manufacturers

Industrial Lubricant Importers

Industrial Lubricant Distributors

Government and Regulatory Authority

Construction Companies

Textile Companies

Cement Companies

Mining Companies

Paper and Pulp Manufacturers

Power Generation Companies

Steel Manufacturers

Investors and VC Firms

Time Period Captured in the Report:-

Historical Period: 2013- 2018

Forecast Period: 2019E - 2023E

Companies Covered:-

Idemitsu (Malaysia) Lube Sdn. Bhd.

PETRONAS Lubricants Marketing Malaysia Sdn

Polilube Italia Sdn. Bhd.

Shell Malaysia Ltd.

Chevron Malaysia Limited

TOTAL Oil Malaysia

ExxonMobil Exploration & Production Malaysia Inc.

BP Castrol Lubricants (Malaysia) Sdn Bhd

For more information on the research report, refer to below link:-

Malaysia Industrial Lubricants Market

Related Reports:-

Uganda Lubricants Market Outlook To 2023 - By Origin (Mineral, Semi-Synthetic And Synthetic), By Automotive (Passenger Car Motor Oils And Motor Cycle Oils, Heavy Duty Diesel Engine Oils, Hydraulic Oils, Gear Oils And Transmission Fluids, Greases) And Industrial (Hydraulic Oils, Industrial Gear Oils, Turbine Oil, Compressor Oils, Greases, Transformer Oils And Grease), By End Users And By Distribution

Saudi Arabia Lubricants Market Outlook to 2023 - By Automotive (Passenger Car Motor Oil, Heavy Duty Engine oils, Hydraulic Oils, Gear Oils & transmission, and Greases), Industrial lubricants (Engine Oils, Turbine oils, Hydraulic oils, Industrial Gear oils, Transformer oils, Compressor oils, Greases) By Origin (Mineral, Synthetic and Semi-Synthetic)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249