Forecasted production of blended lubricating oil in Malaysia shows a declining trend from 2024 to 2028. In 2023, the production stood at 106.21 thousand metric tons. The forecast for 2024 is 102.89 thousand metric tons, representing a year-on-year decrease of 3.13%. This downward trend continues into 2025 with production expected to fall to 99.64 thousand metric tons, marking a 3.16% decrease from 2024. The subsequent years show similar declines, with 2026 at 96.42 thousand metric tons (3.23% decrease), 2027 at 93.23 thousand metric tons (3.31% decrease), and 2028 at 90.08 thousand metric tons (3.37% decrease). The compound annual growth rate (CAGR) over the five-year period is approximately -3.24%, indicating a consistent average annual decrease in production.
Future trends to watch for include advancements in synthetic lubricants, changes in regulatory standards impacting production processes, shifts in the global energy market, and potential increases in electric vehicle adoption, which could further influence demand and production patterns for blended lubricating oils.
