Market Size of Malaysia Refined Petroleum Products Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Malaysia Refined Petroleum Products Market Analysis
The Malaysian refined petroleum products market was estimated to have a value of about USD 15,078.93 million at the end of 2022. It is projected to register at a CAGR of about 2.3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the long term, the major driving factor of the market is expected to be the surging demand for refined petroleum products in the country.
- On the flip side, the increasing adoption of alternative fuel vehicles (AFVs) is expected to slow down the growth of the market during the forecast period.
- High demand for LPG from the petrochemical sector is expected to create immense opportunities for Malaysia's refined petroleum products soon.
