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Report
Middle East Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The Middle East Lubricants Market size is estimated at 2.60 Billion Liters in 2024, and is expected to reach 2.77 Billion Liters by 2026, growing at a CAGR of 3.22% during the forecast period (2024-2026).
Key Highlights
-Largest Segment by End-user Industry - Automotive : Among all end-user segments, automotive is the largest end user due to the high proportion of engine and gear oil usage in motor vehicles than other industrial applications.
-Fastest Segment by End-user Industry - Power Generation : Due to rising demand for low-cost energy from natural-gas-fueled power plants, power generation is likely to be the fastest-growing lubricant end user in the Middle East.
-Largest Country Market - Iran : Iran is the largest lubricant market in the Middle East, as the country possesses a higher number of motor vehicles and active industrial machinery than any other country.
-Fastest Growing Country Market - Turkey : Turkey is expected to be the fastest-growing lubricant-consuming country in the Middle East due to increased ownership of used vehicles and a growing heavy-equipment sector.
Middle-East Lubricants Market Trends
Largest Segment By End User : Automotive
- In 2020, the Middle Eastern lubricant market was dominated by the automotive industry, which accounted for around 58.9% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 8.69%.
- In 2020, COVID-19-related restrictions led to decreased maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 6.86% during 2019-2020, followed by heavy equipment (6.1%) during the year.
- Power generation is expected to be the fastest-growing end-user industry of the market studied, recording a CAGR of 5.33% during 2021-2026, followed by automotive (3.22%). The growing capacity addition of power generation in the country is anticipated to drive lubricant consumption in the power generation industry.
Largest Country : Iran
- In 2020, Iran was the leading consumer of lubricants in the Middle Eastern region, accounting for around 34.6% of the region's total lubricant consumption. During 2015-2019, lubricant consumption in Iran increased by 4.36%.
- In 2020, the COVID-19 outbreak restrained the operations of several industries, including lubricant consumption, across the Middle Eastern region. The United Arab Emirates was the most affected, with a 9.1% drop in its lubricant consumption during 2019-2020, followed by Qatar (8.3% drop).
- Turkey is likely to be the fastest-growing lubricants market in the Middle East during the forecast period, with a CAGR of around 4.94%. The recovering automotive sales and usage and the growing industrial activities are likely to drive lubricant growth in countries like Qatar, Saudi Arabia, and the United Arab Emirates.
Middle-East Lubricants Industry Overview
The Middle East Lubricants Market is moderately consolidated, with the top five companies occupying 44.32%. The major players in this market are Behran Oil Company, BP Plc (Castrol), Petromin Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 Executive Summary & Key Findings
2 Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3 Key Industry Trends
3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis
4 Market Segmentation
4.1 By End User
4.1.1 Automotive
4.1.2 Heavy Equipment
4.1.3 Metallurgy & Metalworking
4.1.4 Power Generation
4.1.5 Other End-user Industries
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Metalworking Fluids
4.2.5 Transmission & Gear Oils
4.2.6 Other Product Types
4.3 By Country
4.3.1 Iran
4.3.2 Qatar
4.3.3 Saudi Arabia
4.3.4 Turkey
4.3.5 UAE
4.3.6 Rest of Middle East
5 Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 ADNOC
5.3.2 Behran Oil Company
5.3.3 BP Plc (Castrol)
5.3.4 ExxonMobil Corporation
5.3.5 Iranol Oil Company
5.3.6 Petrol ofisi
5.3.7 Petromin Corporation
5.3.8 Qatar Lubricants Company (QALCO)
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6 Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7 Key Strategic Questions for Lubricants CEOs
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