Middle East & Africa Lubricant Additives Market

Number of Pages -110

Category: Chemicals & Materials

Middle East & Africa Lubricant Additives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis– by Type (Dispersants, Viscosity Index Improvers, Detergents, Antiwear Agents, Emulsifiers, and Others), and Application (Automotive and Industrial)

The Middle East & Africa lubricant additives market is expected to grow from US$ 1,555.25 million in 2021 to US$ 1,874.15 million by 2028; it is estimated to grow at a CAGR of 2.7% from 2021 to 2028. The automotive sector has witnessed tremendous growth in the last decade and is expected to rise steadily during the forecast period. The COVID-19 pandemic hampered the growth of this sector during 2020–2021 due to factors such as nationwide lockdowns enacted by governments of the Middle East & African countries and a decline in investments by various stakeholders. Further, the ease of travel restrictions, rise in transportation activities, and implementation of mass vaccination programs aided the growth of this sector in 2021 in the form of elevated automobile sales. As per the report of OICA, the automotive industry recorded an annual growth rate of ~5% in 2021. Companies operating in the automotive market are investing heavily in automobile manufacturing to ramp up production capabilities and corresponding sales. With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas (GHG) emissions, there has been a remarkable development in lubricating oil formulations. The final standards focus on significantly reducing GHG emissions and other criteria pollutants, which will lead to substantial public health and welfare benefits while providing consumers with savings from reduced fuel usage. Thus, the flourishing automotive sector and stringent government policies on reducing GHG emissions are boosting the Middle East & Africa lubricant additives market. Thus, the Middle East & Africa lubricant additives market is expected to grow at a notable CAGR during the forecast period.

Exhibit: Middle East & Africa Lubricant Additives Revenue and Forecast to 2028 (US$ Million)  

Middle East & Africa Lubricant Additives Market Segmentation         

The Middle East & Africa lubricant additives market is segmented into type, application, and country. Based on type, the market is categorized into dispersants, viscosity index improvers, detergents, antiwear agents, emulsifiers, and others. In 2021, the dispersants segment held the largest market share. Based on application, the market is bifurcated into automotive and industrial. In 2021, the automotive segment held a larger market share. Further, based on country, the Middle East & Africa lubricant additives market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The Rest of MEA has contributed a substantial share in 2021.

Evonik Industries AG, the Lubrizol Corporation, LANXESS, Nouryan, EXXON MOBIL CORPORATION, Croda International plc, Chevron Corporation, and BASF SE are among the leading companies operating in the Middle East & Africa lubricant additives market.

Middle East & Africa Lubricant Additives Strategic Insights

Strategic insights for the Middle East & Africa Lubricant Additives provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Lubricant Additives Report Scope

Middle East & Africa Lubricant Additives Regional Insights

The geographic scope of the Middle East & Africa Lubricant Additives refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.