Middle-East Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Middle-East Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Middle-East lubricants market is expected to register a CAGR around 2% during the forecast period. This market is driven by factors, such as industrial growth in Saudi Arabia, Iran, and the UAE. Increasing drain intervals in the automotive and industrial sectors are expected to hinder in the growth of the market.

Key Highlights

• Growing usage of high-performance lubricants is expected to drive the demand for the market during the forecast period.
• The high price of synthetic and bio-based lubricants is likely to hinder the market’s growth.
• Developments in synthetic and bio-based lubricants are projected to act as an opportunity for the market in future.

Key Market TrendsEngine Oil is Expected to Occupy the Largest Share

• Engine oils are typically used for applications, such as wear reduction, corrosion protection, and ensuring smooth operation of the engine internals.
• High-mileage engine oils are experiencing great demand, owing to specific properties, such as oil leak prevention and reduction in oil-burn off.
• Most light and heavy vehicle diesel and gasoline engines use 10W40 and 15W40 viscosity grade oils, while multi-grade oils, such as 15W50 and 20W50, are commonly used for aircraft engines.
• The average vehicle age has been increasing at a constant rate over the years, which is an opportunity, in terms of the aftermarket refill market. The increasing average age of passenger cars and growing urban population in the developing countries are expected to drive the market for engine oils.
• Owing to the increased engine oil change intervals, technological advancements are imposing a threat to the growth of the engine oil segment. However, increasing automotive production rates are expected to support the growth of the segment during the forecast period.
• However, the rising need for emission reduction from motor vehicles is likely to surge the use of synthetic engine oils majorly during the forecast period.

United Arab Emirates is Expected to Experience Slow Growth

• The United Arab Emirates is the second-largest economy of the Middle East region. The United Arab Emirates economy is mainly dependent on the oil industry.
• Due to fluctuations in crude oil prices and a slowdown in the global economy, the country’s economy has slowed down over the last few years.
• The United Arab Emirates is the second-largest automotive market in the GCC, after Saudi Arabia. Passenger cars account for approximately 80% of the region’s automotive market.
• Government initiatives, such as Dubai Plan 2021 and Abu Dhabi Vision 2030, are the key factors driving the UAE construction industry.
• A significant amount of lubricants are used in oil and gas exploration. These factors are expected to drive the market slowly over the forecast period in the United Arab Emirates.

Competitive Landscape

The Middle East lubricants market is fragmented. Key players in the Middle East lubricants market include Total, Petromin, Aljomaih And Shell Lubricating Oil Company Limited, Behran Oil Co., and FUCHS, among others

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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