Middle-East Lubricants Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Middle-East lubricants market is projected to register a CAGR of less than 2% during the forecasted period.
Due to the COVID-19 outbreak, the manufacturing industry was severely affected this has resulted in a decrease in the usage of lubricants in 2020. However, with the recovery of many construction projects and other industrial activities, the market has seen a recovery phase in the year 2021 and is expected to see a positive trend in the forecasted years. An increase in automotive sales and engineering goods has been leading the market recovery over the last two years.
Key HighlightsThe Middle-East lubricants market is fragmented. Some of the major players in the market (in no particular order) include TotalEnergies, Petromin, Aljomaih and Shell Lubricating Oil Company (JOSLOC), Behran Oil Co., and FUCHS, among others.
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