The global lubricants market was 36.36 million tons in 2014 and in 2022 the projected to grow to 43.87 at an estimated CAGR of 2.4%
Indonesia is a major market in Southeast Asia for Automotive industry which consequently makes it a major market for automotive parts manufacturers included lubricating, greases, maintenance and technology.
As stated by the new market research report on Lubricating Oils and Greases, Asia Pacific represents the largest and the fastest growing market, with volume sales projected to grow at CAGR 5% over the analysis period. Indonesia is an attractive market for oil producers from all over the world for industrial and automotive markets.
S&P Global Ratings raised Indonesia’s rating to “investment grade”, bringing Indonesia as a stable country with decent of investment. It boosts growth and demand from all rising industrial sectors as well as automotive industry.