Japan’s ENEOS motor oil and lubricant gains market share

ENEOS, which dominates at least half the market in Japan, is distributed in lower Myamnar by conglomerate Myanma Golden Star’s (MGS) subsidiary MGS Lubricant under an agreement with JXTG Nippon Oil & Energy Corporation, one of Japan’s largest oil and gas companies.

MGS chair U Thein Tun said the company will strive to widen the distribution networks for ENEOS products in the country.

The product, which first entered the market in August 2016, is now used in most of the major service workshops and spare part shops and demand is rising, he said.

“We need to educate consumers here so that they understand how a quality lubricant can help to protect their car engines,” he said.

“It is necessary to use quality products in the domestic market. Most local consumers focus more on the price. But quality is required to maintain the durability of the engines and vehicle machinery.

It has been almost one year this brand entered the market. We will aim for widespread distribution and market share,” U Thein Tun said.

Myanmar is one of the fastest-growing markets for automotive lubricants in ASEAN and Myanmar consumes around 78 million litres of finished lubricants, according to research firm Solidiance.

Since the government liberalised its vehicle import policy, there has been a steep rise in vehicle imports.

Consequently, there has been a rise in lubricant imports as well. Currently, there are more than 100 brands of lubricants imported into Myanmar.

Source: Myanmar Times

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