Thursday, 08 June 2023 09:55

Lubricant Sector Expected to Grow by 15% Until 2026

The Director of PT Pertamina Lubricants (PTPL), Werry Prayogi, projects a 15% year-on-year growth in the lubricant business sector in Indonesia from 2021 to 2026, equivalent to an average annual growth of 3%. This growth is attributed to the increasing demand for lubricants, which is closely linked to the growth in production needs, including industrial and manufacturing sectors, as well as the overall increase in human activities involving motor vehicles. Despite a slight decline in demand during the Covid-19 pandemic, Werry explains that it did not significantly affect the business and the company. While disruptions caused by electric vehicles pose a challenge to the lubricant sector, Werry believes that the industry will not face extinction as certain lubricant needs in industries such as shipping, heavy vehicles, and agribusiness cannot be replaced. He also emphasizes the importance of government support in creating an environment that promotes high economic growth and encourages the use of local products.

Werry highlights that the lubricant sector's growth is closely tied to the overall economic development, such as the growth in online shopping and logistics industries. While electric vehicles may impact the demand for engine oils, other opportunities arise, and the sector remains optimistic until 2040. PT Pertamina Lubricants, with its high Domestic Component Level (TKDN), contributes to the use of domestic products and meets the requirements set by various industries. Government support plays a crucial role in fostering a conducive climate for high economic growth and promoting the utilization of local products in the country.




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