Middle East and Africa Lubricants Market to Grow at a CAGR of 1.9% to reach US$ 11.25 billion from 2021 to 2028

Middle East and Africa Lubricants Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Base Oil (Mineral Oil, Synthetic, Bio-Based Lubricants, and Others), Product Type (Engine Oil, Hydraulic Oil, Gear Oil, Grease, Compressor Oil, and Others), and End Use (Oil & Gas, Industrial, Chemical, Automotive, Marine, and Others)

  • Report Code : TIPRE00027449
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 153

Middle East and Africa Lubricants Market to Grow at a CAGR of 1.9% to reach US$ 11.25 billion from 2021 to 2028

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The lubricants market in MEA is expected to grow from US$ 9.85 billion in 2021 to US$ 11.25 billion by 2028; it is estimated to grow at a CAGR of 1.9% from 2021 to 2028.

Synthetic lubricants are most widely used in industrial operations and the automotive sector due to their beneficial advantages. Thus, growth prospects in industrial applications and the automotive industry are fueling the demand for synthetic lubricants. Synthetic lubricants are most widely preferred due to their superior characteristics to natural mineral oil. It is used across vertical industries, which requires a high level of consistency. Polyalphaolefin lubricant is the most common synthetic oil widely used in the automotive and industrial sectors. It has excellent physical and chemical properties, such as higher viscosity index, lower volatility, lower pour point, and greater thermal stability. Due to these properties, it is widely preferred among consumers and is expected to trend in the market over the coming years.

Group III and IV base oils are high-quality oils used for high-performance application and low viscosity motor oils in technically advanced automotive engines. Stringent emission norms, better blending flexibility due to advancement in additive technology, and growing fuel efficiency standards are some of the key factors that will boost sales of high-quality group III base synthetic lubricants. It is a premium base oil that caters the complex application.

South Africa witnessed the highest number of COVID-19 cases in the MEA, followed by Saudi Arabia and UAE. The UAE was the first country in MEA to report a confirmed case of COVID-19. Various chemicals & materials companies remained closed due to the pandemic, which led to the reduced sale of products, hampering the MEA lubricants market. However, the current surge in demand for oil & gas across various industry verticals is fueling the demand for lubricants.The pandemic has significantly slowed down the production of lubricants as well.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA lubricants market. The MEA lubricants market is expected to grow at a good CAGR during the forecast period.

MEA LubricantsMarket Revenue and Forecast to 2028 (US$ Billion)

RD Description
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

MEA Lubricants Market Segmentation

MEA Lubricants Market – By Base Oil

  • Mineral Oil
  • Synthetic
  • Bio-Based Lubricants
  • Others

MEA Lubricants Market – By Product Type

  • Engine Oil
  • Hydraulic Oil
  • Gear Oil
  • Grease
  • Compressor Oil
  • Others

MEA Lubricants Market – By End Use

  • Oil and Gas
  • Industrial
  • Chemical
  • Automotive
  • Marine
  • Others

MEA Lubricants Market, by Country

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA

MEA Lubricants Market - Companies Mentioned

  • BP plc
  • Chevron Corporation
  • China Petrochemical Corporation (Sinopec)
  • Exxon Mobil Corporation
  • Fuchs
  • Indian Oil Corporation Ltd
  • Lukoil
  • Royal Dutch shell plc
  • Total
  • Valvoline LLC
 

Middle East and Africa Lubricants Market Report Scope

Report Attribute Details
Market size in 2021 US$ 9.85 Billion
Market Size by 2028 US$ 11.25 Billion
Global CAGR (2021 - 2028) 1.9%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Base Oil
  • Mineral Oil
  • Synthetic
  • Bio-Based Lubricants
By Product Type
  • Engine Oil
  • Hydraulic Oil
  • Gear Oil
  • Grease
  • Compressor Oil
By End Use
  • Oil & Gas
  • Industrial
  • Chemical
  • Automotive
  • Marine
Regions and Countries Covered Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BP plc
  • Chevron Corporation
  • China Petrochemical Corporation Sinopec
  • Exxon Mobil Corporation
  • Fuchs
  • Indian Oil Corporation Ltd
  • Lukoil
  • Royal Dutch shell plc
  • Total
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

This text is related
to segments covered.

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

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to country scope.

  1. BP plc
  2. Chevron Corporation
  3. China Petrochemical Corporation (Sinopec)
  4. Exxon Mobil Corporation
  5. Fuchs
  6. Indian Oil Corporation Ltd
  7. Lukoil
  8. Royal Dutch shell plc
  9. Total
  10. Valvoline LLC

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