Press release
Malaysia Industrial Lubricants Market Sales Volume is Expected to reach about 134 Million Liters by 2023: Ken Research
• Mining and Construction industry are expected to dominate the market in terms of demand for industrial lubricants in Malaysia in 2023. Major factors contributing to the growth include revival of tin mining in Malaysia and upcoming construction projects in Malaysia such as East Coast Rail Line, Melaka Gateway, Pan-Borneo Highway and others.
Industry 4.0 Policy to Drive the Manufacturing Sector: The Fourth Industrial Revolution or Industry 4.0 is mainly focused on transforming the manufacturing sector in Malaysia, thereby, making it more mechanized and reducing the usage of labour as much as possible. The policy envisions Malaysia as a strategic partner for smart manufacturing and a primary destination for high technology industries. With adaption of more mechanization in manufacturing sector, it can be anticipated that demand for industrial lubricants will grow in future.
Increased Consumption of Synthetic and Semi Synthetic Lubricants: The demand for both synthetic and semi synthetic lubricants is anticipated to increase owing to their wide capability to improve productivity, wide availability in liquid, semi-fluid and solid state and presence of characteristics such as high Viscosity Index (VI), high level of thermal stability, low freezing point, high boiling point and others.
Significance of ASEAN Community: With the formation of ASEAN Community in 2015, there has been emergence of various multinational companies and increase in international demand for Malaysian goods and services. This has also led to increase in FDI, increased competitiveness, Malaysian integration with world economy. Another major trend brought in by ASEAN Economic Community (AEC) was the removal and reduction of various tariffs. Therefore, a combination of these factors is estimated to increase further the demand for Malaysian goods worldwide, leading to increased production within Malaysia and indirectly increasing demand for industrial lubricants.
Revival of Tin Mining: Decades ago, Malaysia was considered to be one of the largest producers of tin in world. With sudden fall in prices of tin in both domestic and international markets, the mining of tin in Malaysia reduced. But now, with initiatives by Malaysian government, there has been an effort to revive tin mining industry in the country. This revival is expected to generate demand for industrial lubricants such as hydraulic oil, industrial greases, compressor oil and others in Malaysia.
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)” believe that the market is expected to register positive CAGR of close to 3% in terms of sales volume during the forecasted period 2018-2023E.
For more information on the research report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-industrial-lubricants-market/264294-100.html
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
• Others
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
Key Topics Covered in the Report
• Executive Summary
• Research Methodology
• Malaysia Industrial Lubricants Market Overview and Genesis
• Malaysia Industrial Lubricants Market Ecosystem
• Value Chain Analysis in Malaysia Industrial Lubricants Market
• Malaysia Industrial Lubricants Market Size, 2013-2018
• Malaysia Industrial Lubricants Market Segmentation
• Regulatory Landscape In Malaysia Industrial Lubricants Market
• Trends And Developments In Malaysia Industrial Lubricants Market
• Issues And Challenges In Malaysia Industrial Lubricants Market
• End User Analysis In Malaysia Industrial Lubricants Market
• Competitive Landscape In Malaysia Industrial Lubricants Market
• Malaysia Industrial Lubricants Market Future Outlook And Projections, 2018-2023E
• Analyst Recommendations
Related Reports:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/uganda-lubricants-market/205239-100.html
https://www.kenresearch.ae/automotive-transportation-and-warehousing/automotive-and-automotive-components/saudi-arabia-lubricants-market/189129-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-industrial-lubricants-market/177073-100.html
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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