Malaysia: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Malaysia

The Malaysian market for petroleum lubricating oil and grease reached $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Petroleum lubricating oil and grease consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Petroleum Lubricating Oil And Grease in Malaysia

In value terms, petroleum lubricating oil and grease production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Petroleum lubricating oil and grease production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Malaysia

In 2022, the amount of petroleum lubricating oil and grease exported from Malaysia stood at X tons, picking up by X% against 2021 figures. In general, exports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports rose remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for petroleum lubricating oil and grease exports from Malaysia, with a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was held by Saudi Arabia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Saudi Arabia (X% per year).

In value terms, Singapore ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, remaining constant against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum lubricating oil and grease export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Malaysia

In 2022, petroleum lubricating oil and grease imports into Malaysia surged to X tons, jumping by X% on the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports skyrocketed to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of petroleum lubricating oil and grease to Malaysia, accounting for a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from Singapore exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Singapore ($X) constituted the largest supplier of petroleum lubricating oil and grease to Malaysia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Singapore was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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