Engine Oil Demand in Malaysia to Reach 202,000 Metric Tons in 2021
February 21, 2018 (Investorideas.com Newswire) Demand in Malaysia for engine oil is forecast to increase 2.9% per year to 202,000 metric tons in 2021. Growth will be supported by:
- longer average annual distance traveled by light vehicles as well as by medium and heavy trucks and buses
- increasing motor vehicle ownership and usage
- consumers' tendency to follow OEM guidelines regarding oil drain intervals
Light vehicles will continue to account for about 50% of the market due to the popularity of passenger cars, though a trend toward ownership of newer vehicles and consumer preference for higher quality synthetic and semi-synthetic oils will lengthen drain intervals, thus tempering gains. This and other trends are presented in Automotive Lubricants Market in Malaysia, a new study from The Freedonia Group, a Cleveland-based industry research firm.
There is speculation that the Malaysian government may reinstitute the unpopular End of Life vehicle policy, which requires retirement of older vehicles, in an effort to bolster the car manufacturing industry and increase road safety. If re-implemented, this policy would contribute to modernization of the light vehicle fleet and the lengthening of average drain interval.
Engine oils for medium and heavy trucks and buses are expected to post the fastest sales growth. As in other developing areas, the increased shipping activity that accompanies economic expansion will drive gains. Additionally, growth will be supported by Malaysia's dedication to improving its public transportation systems to reduce traffic and pollution problems caused by the high volume of cars on the road.
Automotive Lubricants Market in Malaysia (published 1/2018, 79 pages) is available for $2400 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
#3607 Automotive Lubricants Market in the UK (January 2018)
#3583 Global Automotive Lubricants (December 2017)
About The Freedonia Group, a division of MarketResearch.com - The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Chemicals studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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