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Analysts’ Viewpoint on Malaysia Chemical and Petrochemical Market Scenario
“Companies in the Malaysia chemical and petrochemical market are investigating possible new acquisitions to boost slumping profits post coronavirus period. The market is undergoing a significant change with the growing demand for diesel in construction equipment. Although diesel contributes for high economic growth of Malaysia’s energy mix, it is associated with greenhouse gas (GHG) emissions that affect the environment. Hence, chemical and petrochemical companies should diversify production in biofuels, natural gas, and electricity whilst end users gradually shift to cleaner energy solutions in the upcoming years. Apart from balancing production of diesel and biofuels, manufacturers should leverage revenue opportunities in increasing commercial and industrial activities in Malaysia.”
The rich oil & gas reserves of Malaysia are translating into revenue opportunities for market stakeholders. Large reserves of crude oil and condensates are gaining the attention of stakeholders in the Malaysia chemical and petrochemical market.
Companies are investing in the set-up of new refinery facilities that would produce a range of refined petroleum products. They are harnessing oil & gas reserves and entering into smart partnerships with large petroleum companies to expand their revenue streams.
An increasing number of domestic and foreign companies are unlocking growth opportunities in the Malaysia chemical and petrochemical market. They are upgrading their manufacturing plant capacities to increase availability of chemical and petrochemical products.
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The coronavirus pandemic has adversely affected business activities in the Malaysia chemical and petrochemical market. It was estimated by the United Nations Conference on Trade and Development (UNCTAD) that the pandemic would cause foreign direct investment (FDI) in Malaysia to shrink by 5% to 15% in 2020, due to the obvious contraction in the manufacturing sector and staggered rise in factory operations.
In order to revive market growth, stakeholders are preparing and embracing opportunities during the pandemic by focusing on positive or limited negative impact industries.
Companies in the Malaysia chemical and petrochemical market are taking steps to redesign their workflow processes at manufacturing plants to tide over challenges of the pandemic.
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Alternatives such as biofuels, natural gas, and electric energy are anticipated to reduce the demand for petroleum fuels such as gasoline in the long term. Moreover, fuels such as CNG are more cost efficient than gasoline, and the former can be bought in Malaysia for almost half the price. Nevertheless, manufacturers are tapping revenue opportunities in national and international transportation activities to boost the sales of gasoline apart from diversifying production in biofuels and natural gas.
While manufacturers are being future-ready by diversifying the production of biofuels, they are currently capitalizing on Malaysia’s high import capacity. Malaysia is presently on the list of China’s most important gasoline importers.
Apart from petroleum products, manufacturers are boosting the production of gasoline and diesel products. Companies are building their product portfolio by rapidly innovating in olefins, polymers, and fertilizers, among others.
Companies in the Malaysia chemical and petrochemical market are entering into partnerships to build nitrile butadiene latex manufacturing plants. The high demand for nitrile gloves is generating value-grab opportunities for market stakeholders. Thus, manufacturers are tapping into high growth sectors such as personal care, construction, and healthcare to generate additional income sources.
Palm oil holds promising potential as a feasible bio-based feedstock that can be used in the production of 1,3-PDO (1,3-propanediol) and bio-lubricants. Since palm oil is abundantly available in Malaysia, manufacturers can use it for the development of sustainable business in bio-based chemicals. As such, there is a need for relevant government policies to support sustainable business practices.
Since vegetable oils are linked to setbacks such as process complexity and unrecyclable catalysts, manufacturers in the Malaysia chemical and petrochemical market are increasing research in palm oil for the production of bio-lubricants.
Moreover, stakeholders are increasing their focus on sustainable agronomic and manufacturing practices for the cultivation and processing of palm oil.
Market Size Volume in 2020 (Base Year)
Market Forecast Volume in 2025
Growth Rate (CAGR)
Tons for Volume
This segment includes cross segment analysis at Malaysia level. Qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, supply chain analysis, and parent industry overview.
Electronic (PDF) + Excel
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Malaysia Chemical and Petrochemical Market – Segmentation
TMR’s research study assesses the chemical and petrochemical market in Malaysia, in terms of product, as the segment includes refining products, chemical products, and coal & coal chemical products. This report presents extensive market dynamics and trends associated with different segments of the market, and how they are influencing the growth prospects of the chemical and petrochemical market in Malaysia.
Malaysia Chemical and Petrochemical Market reached 124,116.4 tons in 2020
Malaysia Chemical and Petrochemical Market is projected to reach 150,375.8 tons by the end of 2025
Malaysia Chemical and Petrochemical Market is expected to grow at a CAGR of 4.2% during 2021-2025
Increase in demand in the automotive, construction, and healthcare industries expected to drive Malaysia Chemical and Petrochemical Market
Key vendors in the Malaysia Chemical and Petrochemical Market are Petronas, ConocoPhillips, Malaysia Hengyuan International Ltd., Kemaman Bitumen Company, Vito
1. Executive Summary: Malaysia Chemical and Petrochemical Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Key Facts and Figures
1.4. Trends Impacting Market
1.5. TMR’s Growth Opportunity Wheel
2. Price Analysis, by Commodity Types, in Johor and Sarawak, 2021
2.1. Industrial Land
2.4. Natural Gas
3. Analysis of Petrochemicals and Solid Cargo Handling Charges in Bantulu, Johor, and Sarawak, by Product 2021
4. Market Overview
4.1. Market Segmentation
4.2. Key Developments/Product Timeline
4.3. Key Market Indicators/Definitions
4.4. Market Dynamics
4.5. Malaysia Chemical and Petrochemical Market Analysis and Forecasts, 2020‒2025
4.5.1. Malaysia Chemical and Petrochemical Market Volume (Kilo Tons)
4.5.2. Malaysia Chemical and Petrochemical Market Value (US$ Mn)
4.6. Porter’s Five Forces Analysis
4.7. Regulatory Landscape
4.7.1. Regulatory Framework for Refineries
4.7.2. Trade and Tax Policies of Crude Oil, Natural Gas and Coal
4.7.3. Regulatory Framework for Chemical and Petrochemical
4.7.4. Government Regulations
4.7.5. Tax Policies, by Each Product
4.7.6. Product Sales and Export Policies
4.7.7. Government Subsidies by Each Product
4.8. Value Chain Analysis
4.8.1. List of Refinery Operators/Owners
4.8.2. List of Petrochemicals Companies
4.8.3. List of Chemicals Companies
4.9. Quality Standards Followed in Malaysia and Future Outlook of the same, by Each Product
5. COVID-19 Impact Analysis for the Chemical and Petrochemical Industry in Malaysia
6. Overview of Refinery Situation in Malaysia, 2015-2025
6.1. Analysis of Refineries that are in Operation
6.1.1. Name of the Refinery
6.1.3. Commissioning Date (Age of the Refinery)
6.1.4. Capacity and Utilization Rate*
6.1.5. Device Composition and Scale*
6.1.6. Product Structure
6.2. Proposed Refineries
6.2.1. Name of the Refinery
6.2.3. Expected Commissioning Date
6.2.5. Device Composition and Scale*
6.2.6. Product Structure
7. Production Output Analysis (Kilo Tons)
7.1. Production Output Analysis in Malaysia, by Product, 2015‒2025
7.2. Production Output Analysis in Malaysia, by Company, 2019‒2020
7.2.1. Production Output by Each Product
8. Pricing Trend Analysis and Forecast, 2018‒2025
8.1. Pricing Analysis, by Each Product
9. Import-export Analysis, 2018‒2020
9.1. Import-export Analysis, by Each Product
10. Malaysia Chemical and Petrochemical Market Analysis and Forecasts, by Product
10.1. Key Findings
10.2. Market Volume (Kilo Tons) and Value (US$ Mn) Forecast by Product, 2015–2025
10.2.1. Refining products
10.2.1.1. Crude oil
10.2.1.5. Marine oil
10.2.1.11. Sulfuric Acid
10.2.2. Chemical products
10.2.2.10. Acetic Acid
10.2.4. Coal Chemical
10.2.4.2. Carbon Monoxide
10.2.4.5. Hydrogen Sulfide
10.3. Market Attractiveness, by Product
11. Competition Landscape
11.1. Market Players - Competition Matrix (by Tier and Size of Companies)
11.2. Market Share Analysis, 2020
11.3. Market Footprint Analysis
11.3.1. By Product
11.4. Competitive Benchmarking
11.5. Company Profiles
188.8.131.52. Company Revenue
184.108.40.206. Business Overview
220.127.116.11. Product Segments
18.104.22.168. Geographic Footprint
22.214.171.124. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
126.96.36.199. Company Revenue
188.8.131.52. Business Overview
184.108.40.206. Product Segments
220.127.116.11. Geographic Footprint
18.104.22.168. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.3. Malaysia Hengyuan International Ltd.
22.214.171.124. Company Revenue
126.96.36.199. Business Overview
188.8.131.52. Product Segments
184.108.40.206. Geographic Footprint
220.127.116.11. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.4. Kemaman Bitumen Company
18.104.22.168. Company Revenue
22.214.171.124. Business Overview
126.96.36.199. Product Segments
188.8.131.52. Geographic Footprint
184.108.40.206. Company Revenue
220.127.116.11. Business Overview
18.104.22.168. Product Segments
22.214.171.124. Geographic Footprint
126.96.36.199. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.6. Pengerang Energy
188.8.131.52. Company Revenue
184.108.40.206. Business Overview
220.127.116.11. Product Segments
18.104.22.168. Geographic Footprint
22.214.171.124. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
126.96.36.199. Company Revenue
188.8.131.52. Business Overview
184.108.40.206. Product Segments
220.127.116.11. Geographic Footprint
18.104.22.168. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.8. San Miguel
22.214.171.124. Company Revenue
126.96.36.199. Business Overview
188.8.131.52. Product Segments
184.108.40.206. Geographic Footprint
220.127.116.11. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.9. BASF Malaysia
18.104.22.168. Company Revenue
22.214.171.124. Business Overview
126.96.36.199. Product Segments
188.8.131.52. Geographic Footprint
184.108.40.206. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.10. Eastman Malaysia
220.127.116.11. Company Revenue
18.104.22.168. Business Overview
22.214.171.124. Product Segments
126.96.36.199. Geographic Footprint
188.8.131.52. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.11. Suka Chemicals
184.108.40.206. Company Revenue
220.127.116.11. Business Overview
18.104.22.168. Product Segments
22.214.171.124. Geographic Footprint
126.96.36.199. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
11.5.12. Mapei Malaysia
188.8.131.52. Company Revenue
184.108.40.206. Business Overview
220.127.116.11. Product Segments
18.104.22.168. Geographic Footprint
22.214.171.124. Strategic Partnership, Production Method Expansion, New Product Innovation etc.
List of Tables
Table 1: Overview of Refinery Situation in Malaysia – Operational Refineries
Table 2: Overview of Refinery Situation in Malaysia – Proposed Refineries
Table 3: Production Output Analysis (Tons), 2015-2020, by Refining Products
Table 4: Production Output Analysis (Tons), 2015-2020, by Chemical Products
Table 5: Production Output Analysis (Tons), 2015-2020, by Coal and Coal Product
Table 6: Price Trend Analysis (US$/Ton), 2017-2031, by Refining Products
Table 7: Price Trend Analysis (US$/Ton), 2018-2025, by Chemical Products
Table 8: Price Trend Analysis (US$/Ton), 2017-2031, by Coal and Coal Product
Table 9: Import-Export Analysis (Tons), by Refining Products
Table 10: Import-Export Analysis (Tons), by Chemical Products
Table 11: Import-Export Analysis (Tons), by Coal and Coal Products
Table 12: Market Size (Tons) Forecast, by Refining Products
Table 13: Market Size (Tons) Forecast, by Chemical Products
Table 14: Market Size (Tons) Forecast, by Coal and Coal Products
List of Figures
Figure 1: Malaysia Chemicals and Petrochemicals Market Analysis and Forecasts, 2020-2031