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Indonesia – Ideal Market for Lubricants Industry

Indonesia with over 260 million of populations and becomes one of the top 10 largest manufacturing nations in the world, defined by output. Manufacturer sector has recorded 6-7% growth annually for several years and is becoming the backbone of the Indonesian economy. McKinsey predicted that Indonesia will be the 7th largest economy in the world alongside productivity improvements within sectors and urbanization by 2030.

The demand for lubricants in Indonesia has the potential to continue to grow. The development of the automotive industry and industrial activities is believed to drive consumption of petroleum derivative products. At present, the national lubricant consumption has reached over 1 billion liters per year. The largest market for lubricants in the country is still dominated by industrial segments. “About 60% is filled by industry, then 40% is for automotive.

Indonesia is a major market in Southeast Asia for Automotive Industry which consequently makes it a major market for automotive lubricants, grease, maintenance and technology. According to BPS (Statistics Indonesia) data that the number of land vehicles registered until 2017 had 138.556.559 units of vehicles including 15.493,068 unit of cars, 2.509,258 unit of buses, 7.523.550 unit of commercial vehicles (truck, box, special vehicles) and 113.030.793 units of motorbikes.

With a large population of automotive and high industrial activities. That will definitely drive huge demand for lubricants in the Indonesia market.

error: no need to do that :-)