Future prospects remain bright for ASEAN lubricants market despite pandemic
The ASEAN region accounts for about 8% of the global finished lubricants market. In comparison to developed markets, lubricants consumers in the Association of Southeast Asian Nations (ASEAN) member-countries are quite price sensitive, especially in the commercial automotive segment, where the use of monograde oils is still common. Low-quality, mineral-oil-based lubricants are still used in…