Synthetic Lubricants Market in Asia - A New Analysis by Frost & Sullivan
Synthetic Lubricants Market in Asia – Malaysia, the rising star Recently published by the Chemicals Group of Frost & Sullivan, a new analysis of the Southeast Asian (SEA) Synthetic Lubricants Market from 1998 to 2008. The report reveals that the total synthetic lubricant market for Southeast Asia was worth $819 million in 2001 and is forecast to reach $1044.2 million in 2008, at a compound annual growth rate (CAGR) of 3.5 percent. The countries examined by the report include Thailand, Malaysia, Singapore, Indonesia and the Philippines and of these it is Malaysia that is seen to have the highest growth potential. The Malaysian population is generally more aware of synthetic lubricants owing to the aggressive promotional activities by various oil companies. PETRONAS, the leading state-owned oil company has been highly visible at various racing rallies and it has a stake in the Proton car, which is owned by most Malaysians. Malaysia represents one of the biggest automobile markets in Southeast Asia and consumers in Malaysia also desire good quality maintenance for their cars. These factors will drive the Malaysian synthetic lubricants market to reach $248.6 million by 2008. The demand for all lubricants is related to the economic health of the region. The Southeast Asian economy has slipped in recent years, automotive sales have also suffered a setback and consumers in the region have become extremely price conscious. Frost & Sullivan expects the gloom period to pass over as the region slowly recovers to its pre-crisis levels of growth. Synthetic lubricants in the region cost four to five times more than that of the cheaper mineral oil-based lubricants. This will be the major restraint for its growth, what growth there is, is expected mainly from the high-end car owners. The market for synthetic lubricants is mainly driven by the aggressive promotion by suppliers. Major oil companies control the lion’s share of this market, as they have the financial muscle to aggressively advertise and establish a wide distribution network. Following the economic crisis, the market has become highly price sensitive and it is a challenge for the suppliers of synthetic lubricants to educate the customers and grow this niche market. The oil companies have every incentive to do so as the profit margins for synthetic lubricants are very high. The Southeast Asian Synthetic Lubricants Market Report (4029-39) - This report completes our Synthetic Lubricants World Package, which comprises full reports on the US, European and SEA Markets For unlimited access to constantly updated chemical market news written exclusively by Frost & Sullivans’ team of industry experts visit chemicals.frost.com. Sales Contact The Southeast Asian Synthetic Lubricants Market Report is available to purchase from: Frost & Sullivan, 4100 Chancellor Court, Oxford Business Park, Oxford, OX4 2GX, UK. Contact: Bill Stringer +44 (0) 1865 398651,bill.stringer@frost.com Press Contact For further information or to arrange to interview the analyst please contact: Rosemary Gill, +44 (0) 1865 398660, rosemary.gill@frost.com Free executive summaries of all Frost & Sullivan reports are available to the press. Background Frost & Sullivan Chemicals and Food Group is the strategic market consultant delivering insight and understanding to support business growth internationally. We identify and analyse the critical market challenges companies must address to become successful competitors in their industry. Our work is focused on these challenges in order to provide our clients with market strategies that enable them to increase revenues, market share and profitability. The Group continuously monitors a comprehensive spectrum of chemical and food markets for trends, market measurements and strategies and delivers powerful data via research publications, bespoke market intelligence projects and customised consulting. Our team of expert analysts is structured around six key areas: Adhesives & Sealants Food Life Sciences Paints & Coatings Plastics Speciality Chemicals Background Frost & Sullivan is an international marketing consulting company that monitors a comprehensive spectrum of high-tech markets for trends, market measurements and strategies. This ongoing research is utilised to complement a series of research publications to support industry participants with customised consulting needs. Interviews and free executive summaries are available to the press. For more information contact: Kristina Menzefricke, Public Relations Department Tel. +44 (0) 20 7343 8376 Fax. +44 (0) 20 7343 8380 kristina.menzefricke@frost.com http://frost.com http://pressroom.frost.com --------------------------------------------------------------------- If you would prefer not to receive further messages from this sender: 1. Click on the Reply button. 2. Replace the Subject field with the word REMOVE. 3. Click the Send button. You will receive one additional e-mail message confirming your removal.