Middle East & Africa Lubricant Additives Market Forecast to 2028

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)

Report Code : BMIRE00025643 | Region : LAMEA | Industry : Chemicals and Materials | Published Date : 10/Aug/2022

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.

At 2.7% CAGR, the Middle East & Africa Lubricant Additives Market is speculated to be worth US$ 1874.15 million by 2028, says The Insight Partners

According to The Insight Partners’ research, The Middle East & Africa lubricant additives market was valued at US$ 1555.25 million in 2021 and is expected to reach US$ 1874.15 million by 2028, registering an annual growth rate of 2.7% from 2021 to 2028. Rapid industrial growth and flourishing automotive sector are the critical factors attributed to the market expansion.

Lubricants are among the key components used in the industrial sector, as they help equipment in operating at peak efficiencies and with maximum reliability. Mineral and synthetic lubricants, greases, compressor oils, and cutting fluids are several types of lubricants that are used as additives across the automotive, oil & gas, textile, glass, power generation, paper and pulp, chemicals and petrochemicals, agriculture, manufacturing, food & beverages, and pharmaceuticals industries, among others. The proliferation of these industries across the world results in the generation of a huge demand for lubricants, as well as lubricant additives. Thus, the extensive application of lubricants in various industries and the rapid growth in the industrial sector are the key factors driving the MEA lubricants additives market as these additives are blended into lubricants to enhance their performances and service lives.

On the contrary,stringent government policies regarding application of lubricant additives hurdles the growth of the Middle East & AfricaLubricant Additives Market.

Based on type, The Middle East & Africa lubricant additives market is segmented into dispersants, viscosity index improvers, detergents, antiwear agents, emulsifiers, others. The dispersants segment held 64.7% market share in 2021, amassing US$ 1006.04 million. It is projected to garner US$ 1221.25 million by 2028 to expand at 2.8% CAGR during 2021–2028.

Based on application, The Middle East & Africalubricant additives market is segmented into automotive, industrial. The automotive segment held 66.8% market share in 2021, amassing US$ 327.62 million. It is projected to garner US$ 386.67 million by 2028 to expand at 2.4% CAGR during 2021–2028.

Based on country, The Middle East & Africalubricant additives market has been categorised into the South Africa,Saudi Arabia,UAE and Rest of MEA. Our regional analysis states that Rest of MEA captured 25.9% market share in 2021. It was assessed at US$ 402.67 million in 2021 and is likely to hit US$ 489.12 million by 2028, exhibiting a CAGR of 2.8% during the forecast period.

Key players dominating The Middle East & Africa lubricant additives market are Evonik Industries AG,the Lubrizol Corporation, LANXESS, Nouryan, EXXON MOBIL CORPORATION,Croda international plc, Chevron Corporation and BASF SE among others.

Oct-2022,The company has announced that it has restructured its oil additives business line distribution setup for its products in South Africa, with Umongo Petroleum (PTY) Ltd. as its new distribution partner. The lubricant additives business develops formulation solutions and base oil technologies that improve fuel economy and flow efficiency of automotive lubricants for passenger cars and commercial vehicles and increase energy efficiency and productivity of industrial lubricants for construction, mining, agricultural, and manufacturing equipment.

TABLE OF CONTENTS

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

1.2.1 MEA Lubricant Additives Market, by Type

1.2.2 MEA Lubricant Additives Market, by Application

1.2.3 MEA Lubricant Additives Market, by Country

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis formulation:

3.2.4 Macro-economic factor analysis:

3.2.5 Developing base number:

3.2.6 Data Triangulation:

3.2.7 Country level data:

4. MEA Lubricant Additives Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of New Entrants

4.2.4 Competitive Rivalry

4.2.5 Threat of Substitutes

4.3 Expert Opinion

4.4 Ecosystem Analysis

4.4.1 Raw Material Suppliers

4.4.2 Manufacturers

4.4.3 Distributors/Suppliers

4.4.4 End-User Industries

5. MEA Lubricant Additives Market — Key Market Dynamics

5.1 Market Drivers

5.1.1 Flourishing Automotive Sector

5.1.2 Rapid Industrial Growth

5.2 Market Restraints

5.2.1 Stringent Government Policies Regarding Application of Lubricant Additives

5.3 Market Opportunities

5.3.1 Increasing Demand for Lubricants from Wind Energy Sector

5.4 Future Trends

5.4.1 Growing Demand for Synthetic Lubricants

5.5 Impact Analysis of Drivers and Restraints

6. Lubricant Additives –MEA Market Analysis

6.1 Lubricant Additives Market –Revenue and Forecast to 2028

7. MEA Lubricant Additives Market Analysis – By Type

7.1 Overview

7.2 Lubricant Additives Market, By Type (2020 and 2028)

7.3 Dispersants

7.3.1 Overview

7.3.2 Dispersants: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

7.4 Viscosity Index Improvers

7.4.1 Overview

7.4.2 Viscosity Index Improvers: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

7.5 Detergents

7.5.1 Overview

7.5.2 Detergents: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

7.6 Antiwear Agent

7.6.1 Overview

7.6.2 Antiwear Agent: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

7.7 Emulsifiers

7.7.1 Overview

7.7.2 Emulsifiers: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

7.8 Others

7.8.1 Overview

7.8.2 Others: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

8. MEA Lubricant Additives Market Analysis – By Application

8.1 Overview

8.2 Lubricant Additives Market, By Application (2020 and 2028)

8.3 Automotive

8.3.1 Overview

8.3.2 Automotive : Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

8.4 Industrial

8.4.1 Overview

8.4.2 Industrial : Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)

9. MEA Lubricant Additives Market – Country Analysis

9.1 Middle East and Africa: Lubricant Additives Market

9.1.1 Middle East and Africa: Lubricant Additives Market, by Key Country

9.1.1.1 South Africa: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 South Africa: Lubricant Additives Market, by Type

9.1.1.1.2 South Africa: Lubricant Additives Market, by Application

9.1.1.2 Saudi Arabia: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 Saudi Arabia: Lubricant Additives Market, by Type

9.1.1.2.2 Saudi Arabia: Lubricant Additives Market, by Application

9.1.1.3 UAE: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 UAE: Lubricant Additives Market, by Type

9.1.1.3.2 UAE: Lubricant Additives Market, by Application

9.1.1.4 Rest of MEA: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Rest of MEA: Lubricant Additives Market, by Type

9.1.1.4.2 Rest of MEA: Lubricant Additives Market, by Application

10. Industry Landscape

10.1 Overview

10.2 Market Initiative

10.3 New Product Development

11. Company Profiles

11.1 Evonik Industries AG

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 The Lubrizol Corporation

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 LANXESS

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 Nouryon

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Products and Services

11.4.4 Financial Overview

11.4.5 SWOT Analysis

11.4.6 Key Developments

11.5 EXXON MOBIL CORPORATION

11.5.1 Key Facts

11.5.2 Business Description

11.5.3 Products and Services

11.5.4 Financial Overview

11.5.5 SWOT Analysis

11.5.6 Key Developments

11.6 Croda International plc

11.6.1 Key Facts

11.6.2 Business Description

11.6.3 Products and Services

11.6.4 Financial Overview

11.6.5 SWOT Analysis

11.6.6 Key Developments

11.7 Chevron Corporation

11.7.1 Key Facts

11.7.2 Business Description

11.7.3 Products and Services

11.7.4 Financial Overview

11.7.5 SWOT Analysis

11.7.6 Key Developments

11.8 BASF SE

11.8.1 Key Facts

11.8.2 Business Description

11.8.3 Products and Services

11.8.4 Financial Overview

11.8.5 SWOT Analysis

11.8.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Glossary of Terms

LIST OF TABLES.

Table 1.             MEA Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

Table 2.             South Africa Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 3.             South Africa Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 4.             Saudi Arabia Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Saudi Arabia Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 6.             UAE Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             UAE Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Rest of MEA Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 9.             Rest of MEA Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Glossary of Terms, Global Lubricant Additives Market

LIST OF FIGURES.

Figure 1.           MEA Lubricant Additives Market Segmentation

Figure 2.           MEA Lubricant Additives Market Segmentation – By Country

Figure 3.           MEA Lubricant Additives Market Overview

Figure 4.           MEA Lubricant Additives Market, By Application

Figure 5.           MEA Lubricant Additives Market, by Country

Figure 6.           MEA Porter's Five Forces Analysis

Figure 7.           MEA Expert Opinion

Figure 8.           MEA Ecosystem Chain: Lubricant Additives

Figure 9.           MEA Lubricant Additives Market Impact Analysis of Drivers and Restraints

Figure 10.        MEA Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        MEA Lubricant Additives Market Revenue Share, By Type (2020 and 2028)

Figure 12.        MEA Dispersants: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 13.        MEA Viscosity Index Improvers: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 14.        MEA Detergents: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 15.        MEA Antiwear Agent: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 16.        MEA Emulsifiers: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 17.        MEA Others: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 18.        MEA Lubricant Additives Market Revenue Share, By Application (2020 and 2028)

Figure 19.        MEA Automotive : Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 20.        MEA Industrial : Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 21.        Middle East and Africa: Lubricant Additives Market Revenue Share, by Key Country (2020 and 2028)

Figure 22.        South Africa: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Saudi Arabia: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 24.        UAE: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 25.        Rest of MEA: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)

The List of Companies - Middle East & Africa Lubricant Additives Market

● Evonik Industries AG.

● The Lubrizol Corporation.

● LANXESS.

● Nouryan.

● EXXON MOBIL CORPORATION.

● Croda international plc.

● Chevron Corporation.

● BASF SE.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa Lubricant Additives market forecast.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa Lubricant Additives market forecast, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the lubricant additives, as well as those hindering it.

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

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