{"id":388603,"date":"2020-11-25T10:48:23","date_gmt":"2020-11-25T15:48:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388603"},"modified":"2020-11-25T10:48:23","modified_gmt":"2020-11-25T15:48:23","slug":"asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/","title":{"rendered":"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline"},"content":{"rendered":"<div class=\"mw_release\">\n<p>PARSIPPANY, NJ, Nov.  25, 2020  (GLOBE NEWSWIRE) &#8212; The ASEAN region accounts for about 8% of the global finished lubricants market. In comparison to developed markets, lubricants consumers there are very price-sensitive, especially in the commercial automotive segment, where the use of monograde is still ongoing. Low-quality, mineral-oil-based lubricants are still used in the region and are being sold by local suppliers. Kline\u2019s report, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dPMOQ4B4xp4rIIaFWG2mGVtYxbHf_20-bJ-WzjNbWGE9p0qafXyTgMBpN-aikNnHoDbi4Xd08B7pc2JRDWIRs3Z6vn2HQK7YnoH04_HrmV0OQymL3-X7BwW2MIpRHpZCWXohvhHpRinR9RyfqIyz7gd6AlSMxrqzXmeOi8YjOcKOSEiDY8tINKLVocCeSU9iOBYm8xOsnBNaMGKK6x8gKQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Opportunities in Lubricants: ASEAN Market Analysis<\/a>, covers lubricants markets of eight major countries in the region: Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, the Philippines, and Vietnam. Request <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=H69bUgyK91NLADkFiwUgB476XkKWobcf-X_791BfbbH5uADDnviyqX_7AD-IUFOtRPnwaJO-SkbMBgps6eASqasz1DTTrb-4_qMVtAO1OLo9tbXvaN1Ht8lY2QJPyZezBKlsjl6ZWzdlHktaM9kzBSG2p03m2AstPaQL92La05xcECfJmhiEHki7wTSaCk6_\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Kline infographic<\/a> for quick facts about the market.<\/p>\n<p>Indonesia has the largest vehicle population among ASEAN members as well as a large industrial sector; hence, it is the largest lubricants market in the region, accounting for about one-third of regional lubricants demand. Thailand follows with a share of slightly more than one-fifth of overall regional demand. \u201cThailand\u2019s lubricants market is very competitive, with 150 to 170 brands. While Singapore is the third-largest market due to its large marine lubricants segment, if marine lubricants are excluded, Singapore\u2019s demand will be close to that of Cambodia,\u201d comments Sushmita Dutta, project manager of the study. \u201cThe lubricants market in Lao PDR and Cambodia are based on lubricant imports, with no significant indigenous capacity for lubricants blending. Even in Myanmar, lubricants demand is mostly fulfilled by foreign suppliers.\u201d<\/p>\n<p>Two-wheelers accounted for more than three-fourths of the population of vehicles in the major countries in ASEAN in 2019. As a result, motorcycle oils (MCOs) have a higher demand than PCMOs in the region. Two-wheelers are not only used for personal use but also by businesses for providing services such as food delivery, transportation, and courier services. In most countries, the population of two-wheelers is more than that of passenger cars, except Malaysia, where the car population exceeds that of two-wheelers. Kline\u2019s recently published study, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Bx1tdMWoUu5oHlfJQLqgPKRFxxIvCO7XmZhpAJcqllVy4BBlEa-Ac-wzdLZ5AhV_qzE2Ry8l5e36ouG_BY57DQ6TqDKrjRGkNBRQZNlgXIq886HmDnWdPsroY6VKpLosFxTUvBjlsiNMCJvD64dVlJYj7fbbRc8q2jaVkAdR8FHOKiepMtaXpUk2gJzhRTmiWd3VxVP6YDOL0nD4k4IxV2-a_8O4TEJ5M1MiEX_JmE0-IoL1kPw9pdgvTmmr8Iah\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Lubricants for Motorcycles, Scooters, and Mopeds: Global Market Analysis and Opportunities<\/a>, takes a deeper dive into all key MCO-consuming countries.<\/p>\n<p>Automotive lubricants in ASEAN region accounted for a larger share than industrial lubricants because the region is not as industrialized as developed countries. Despite having a small share in the vehicle parc, commercial vehicles accounted for a high share of automotive lubricants. This is because commercial vehicles, such as trucks and buses, have larger sump sizes than personal use vehicles such as cars and two-wheelers and more frequent oil changes.<\/p>\n<p>Within the commercial segment, monogrades accounted for a significant share of total HDMO demand in the eight ASEAN countries in 2019. Old on-highway vehicles, as well as off-highway equipment, are responsible for the significant penetration of monogrades. Unlike the commercial segment, demand for multigrades accounted for a higher share than monogrades in the consumer automotive segment. However, monogrades have not been eliminated from the market.<\/p>\n<p>The demand for industrial lubricants was higher than commercial lubricants only in Indonesia and Thailand, the two largest lubricants-consuming countries among the eight ASEAN countries covered in this report. Process oil was the largest industrial oil category in the major ASEAN countries.<\/p>\n<p>In terms of supplier landscape, Shell and Pertamina are the leading suppliers, with more than one-third of the total demand in key countries. Major multinational oil companies such as Shell, BP, Chevron, and ExxonMobil collectively accounted for more than a third of the market.<\/p>\n<p>Despite a major setback due to the pandemic, the lubricants market in this region is very dynamic and presents strong growth prospects over the forecast period. The overall lubricants demand in the select countries in ASEAN is expected to grow at a moderate compound annual growth rate (CAGR) of 2.0% from 2019 to 2029. The growth rate is expected to be higher for the period 2024 to 2029 as the economies would have recovered from the negative impact of COVID-19 by 2024, and continuing industrialization and urbanization will drive growth. COVID-19, which caused prolonged lockdowns, can push the lubricants market downward by 7% to 17% in 2020 in comparison to the demand in 2019.<\/p>\n<p>Read more about the market in the recently published article <i><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TJp_XX-Z-nffKZX2u1M8RK0kJHJ4dApiBVHhzI7FOgmirUmVGMlMKZ7oufYFsZAuGQ845lfL3LXfNkZe9PFvpCT21U6iiYvjkezAdc_BuFQOZy32Z-4I66HGAuzKHr5psx4kGbopLPIdW6gLPU1fAAYXjGlI0hhzKxOpJimpw2D8kPqjStyQaxxLowzMFWwImFqm4oZrqTYfg7NQjyqVMXsTLiYzA6fhKbIpCIPGnfGeqImZkCuPIi2yDnYdpCW9OmANKlruU1xHGkACH6PHYQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Urbanization and Industrialization Driving Lubricants Market of ASEAN.<\/a><\/i><\/p>\n<p>The insights from this study are sourced from Kline\u2019s report, <i><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dPMOQ4B4xp4rIIaFWG2mGVtYxbHf_20-bJ-WzjNbWGE9p0qafXyTgMBpN-aikNnHrQeuFggl_1CXZO-c8IrYpRBpTp_ykLWqWI-w2vm8zlur25X9YEcWPDFPfNyOSBpMk_bc4u2xK8FBZEP8eQzqFgpmmKlf6XekVRSSXpQxUZ2ZFWcZ2BJH1dODJV6k0bIi9jQkfMraoCuTpJ6PEfYPow==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Opportunities in Lubricants: ASEAN Market Analysis<\/a>, <\/i>published in October 2020.\u00a0 The study is a comprehensive analysis of automotive and industrial finished lubricant products, end-use industries, trade classes, major suppliers, and market trends in eight major ASEAN countries.<\/p>\n<p>\n        <b>About Kline\u00a0<\/b>\u00a0<br \/> Kline\u00a0is a worldwide consulting and research firm dedicated to providing the kind of insight and knowledge that helps companies find a clear path to success. The firm has served the management consulting and market research needs of organizations in the agrochemicals, chemicals, materials, energy, life sciences, and consumer products industries for\u00a0more than\u00a060 years. For more information, visit<b>\u00a0<\/b><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMwBOWJIg-IkLw-E8pDE9uVkc9f0jhRPtkEhtdiHBj5bN_0YoJpehcqlQq3JQUFTjXbhhFv2AcMeRPikA98N6eBzdloU8efRQFABq-pHe-c=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.KlineGroup.com<\/a>.\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MjMxOSMzODQ0MTczIzIwMTg1MDA=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2dac77c7-68f0-4b5e-a698-6fa6b123452a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Vera Sandarova\r\nKline &amp; Company\r\nVera.Sandarova@klinegroup.com\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PARSIPPANY, NJ, Nov. 25, 2020 (GLOBE NEWSWIRE) &#8212; The ASEAN region accounts for about 8% of the global finished lubricants market. In comparison to developed markets, lubricants consumers there are very price-sensitive, especially in the commercial automotive segment, where the use of monograde is still ongoing. Low-quality, mineral-oil-based lubricants are still used in the region and are being sold by local suppliers. Kline\u2019s report, Opportunities in Lubricants: ASEAN Market Analysis, covers lubricants markets of eight major countries in the region: Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, the Philippines, and Vietnam. Request Kline infographic for quick facts about the market. Indonesia has the largest vehicle population among ASEAN members as well as a large industrial sector; hence, it is the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388603","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PARSIPPANY, NJ, Nov. 25, 2020 (GLOBE NEWSWIRE) &#8212; The ASEAN region accounts for about 8% of the global finished lubricants market. In comparison to developed markets, lubricants consumers there are very price-sensitive, especially in the commercial automotive segment, where the use of monograde is still ongoing. Low-quality, mineral-oil-based lubricants are still used in the region and are being sold by local suppliers. Kline\u2019s report, Opportunities in Lubricants: ASEAN Market Analysis, covers lubricants markets of eight major countries in the region: Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, the Philippines, and Vietnam. Request Kline infographic for quick facts about the market. Indonesia has the largest vehicle population among ASEAN members as well as a large industrial sector; hence, it is the &hellip; Continue reading &quot;ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-25T15:48:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MjMxOSMzODQ0MTczIzIwMTg1MDA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline\",\"datePublished\":\"2020-11-25T15:48:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/\"},\"wordCount\":791,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5MjMxOSMzODQ0MTczIzIwMTg1MDA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\\\/\",\"name\":\"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline - 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In comparison to developed markets, lubricants consumers there are very price-sensitive, especially in the commercial automotive segment, where the use of monograde is still ongoing. Low-quality, mineral-oil-based lubricants are still used in the region and are being sold by local suppliers. Kline\u2019s report, Opportunities in Lubricants: ASEAN Market Analysis, covers lubricants markets of eight major countries in the region: Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, the Philippines, and Vietnam. Request Kline infographic for quick facts about the market. Indonesia has the largest vehicle population among ASEAN members as well as a large industrial sector; hence, it is the &hellip; Continue reading \"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-25T15:48:23+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MjMxOSMzODQ0MTczIzIwMTg1MDA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline","datePublished":"2020-11-25T15:48:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/"},"wordCount":791,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MjMxOSMzODQ0MTczIzIwMTg1MDA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/asean-lubricants-market-well-positioned-despite-pandemic-setback-sees-kline\/","name":"ASEAN Lubricants Market Well-Positioned Despite Pandemic Setback, Sees Kline - 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