Middle-East & Africa Lubricants Market - Segmented by Base Stock, Product Type, End-User Industry, and Geography – Growth, Trends and Forecasts (2016 - 2021)
The Middle-East and Africa lubricants market is expected to value at USD XX.XX million by revenue and XX.XX kilo tons by volume in 2017, and is likely to reach USD XX.XX million and XX.XX kilo tons respectively by 2022, at an estimated CAGR of 3.3% during the forecast period 2017-2022.
Lubricants are vital for the proper functioning of machines. They are used to reduce wear and friction between surfaces in close proximity and that move relative to each other. They are usually in liquid, semi-fluid, or in solid state. Superior-quality lubricants possess various characteristics such as a high viscosity index, high level of thermal stability, low freezing point, and high boiling point. These features help reduce friction between surfaces of machine parts, reduce the rate of wear and increase operational efficiency. They act as a cooling fluid, and remove any residual deposition over mechanical parts, thereby increasing their operating lifespan.
The rapid industrialization in Middle-East and African nations and the increasing demand of automotive globally are the major reason for driving the market of lubricants. Moreover, stringent environmental regulations by government to use lubricants for better efficiency have also increased the demand of lubricant products. The market has few restraints; volatility in raw material prices and high prices of synthetic & bio-based lubricants among others.
The lubricants market, by stock type, can be broadly segmented into bio-based lubricants, mineral oil lubricants, synthetic lubricants, and greases. The mineral oil lubricants segment accounted for the highest share in the global lubricants market in 2015. However, it is expected to be the slowest growing product segment during the forecast period, with shifting consumer preference towards synthetic and bio-based lubricants. The market has also been divided according by product type into: engine oil (Light motor vehicle engine oil & heavy-duty motor vehicle engine oil), transmission & hydraulic fluids (industrial hydraulic fluids, automatic transmission fluids, and others), metalworking fluids (emulsifiable oil, straight oil, synthetic oil, semi-synthetic oil), general industrial oils (turbine oil, compressor & refrigeration oil, others), gear oil (vehicle & equipment gear oil, industrial gear oil), greases (vehicle & equipment greases, industrial greases), rubber process oil, white oil, electrical oil and others.
Lubricants are increasingly used in various commercial and industrial sectors, owing to their previously mentioned functions and advantages. The market is also segmented by end-user industry into power generation (industrial, municipal), transportation (passenger vehicles, commercial vehicles, aerospace, marine, and railways locomotives), construction, food & beverage, metallurgy & metalworking, mining, oil & gas and others
Based on region the market is segmented in to Middle-East and Africa. In Middle-East region includes the counties like Saudi Arabia, UAE, Qatar and Rest of Middle-East. The Africa region includes the counties like Algeria, Egypt, Nigeria, South Africa and Rest of Africa.
Opportunities and Major Players
Opportunities & Major Players – Industrial growth in the Middle-East & African region, the continuous developments in synthetic and bio-based lubricants, and significant increase in the demand for re-refined lubricants will offer major growth opportunities for growth for lubricant manufacturers during the forecast period.
Major players for lubricants products include big global & local manufacturers are:
• Royal Dutch Shell plc.
• Engen Petroleum
• BP plc.
• Chevron Corp.
• Total S.A among others.
Key Deliverables in the Study
• Market analysis for the middle-east & Africa lubricants market, with region-specific assessments and competition analysis on country scale.
• Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the middle-east & Africa lubricants market on both, regional and country scales.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• Insights on the major countries where this industry is growing and identify the regions that are still untapped.