Indonesia Automotive Engine Oil Market to Reach USD 720.36 Million by 2030, Growing at 4.7% CAGR

Indonesia Automotive Engine Oil Market Overview

The Indonesian automotive engine oil market is on a trajectory of significant growth, with projections estimating an increase from USD 522.30 million in 2023 to approximately USD 720.36 million by 2030, reflecting a compound annual growth rate (CAGR) of 4.70% during the forecast period.

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Market Estimation, Growth Drivers, and Opportunities

The anticipated expansion of Indonesia's automotive engine oil market is primarily driven by the escalating vehicle population within the country. As of January 2023, registered vehicles reached 152.5 million, up from 137.1 million in 2022. This surge necessitates regular engine maintenance, thereby amplifying the demand for engine oils. Additionally, economic growth has led consumers to prefer premium engine oil variants, such as synthetic and semi-synthetic oils, which offer enhanced engine performance and protection. The diversification of Indonesia's vehicle fleet, including the rise of automatic scooters, further propels the need for specialized engine oil formulations tailored to specific engine requirements.

Market Segmentation

In 2023, the gasoline engine oil segment dominated the market, accounting for approximately 52% of the total market share. This segment is projected to grow at a CAGR of 4.72% during the forecast period. The prominence of this segment is attributed to the widespread use of gasoline-powered vehicles across Indonesia, necessitating consistent demand for gasoline engine oils.

By Grade
Mineral
Semi-Synthetic
Fully-synthetic

By Engine Type
Gasoline
Diesel
Alternative Fuels

By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy-Duty Vehicles
Motorcycle

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Competitive Analysis

The Indonesian automotive engine oil market features several key players:

BP PLC (Castrol): Castrol, a subsidiary of BP PLC, is renowned for its high-performance lubricants and continues to innovate in response to evolving engine technologies.

ExxonMobil Corporation: ExxonMobil offers a comprehensive range of engine oils under the Mobil brand, focusing on enhancing engine efficiency and longevity.

PT Pertamina: As a state-owned enterprise, PT Pertamina plays a pivotal role in Indonesia's energy sector, providing a variety of engine oils tailored to local market needs.

PT Wiraswasta Gemilang Indonesia (Evalube): Evalube specializes in producing high-quality lubricants, emphasizing research and development to meet international standards.

Royal Dutch Shell Plc: Shell offers a diverse portfolio of engine oils, investing in technological advancements to cater to modern engine requirements.

These companies are actively investing in research and development to introduce innovative products that align with stringent environmental regulations and evolving consumer preferences.

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Government Policies and Industry Trends

The Indonesian government is implementing policies to promote cleaner energy and reduce reliance on fossil fuels. Initiatives include plans to increase the biodiesel blending mandate to 40% (B40) in 2025, aiming to decrease fuel imports and lower emissions. Additionally, the government intends to upgrade the quality of subsidized fuels and limit their sales to reduce pollution, which may influence the types of engine oils required for newer, more efficient engines.

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