Morocco Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Moroccan lubricants market is valued at around 115 million liters in 2020 and is expected to register a CAGR of around 5% during the forecast period.
COVID-19 impact has negatively affected the demand for lubricants in the country, due to the lockdown and production halts. Also, the automotive sector has been facing issues in the form of the supply of semiconductors. Furthermore, the Director of the Audi brand in Morocco confirmed the existence of a supply shortage. Since Audi plants are suffering serious production interruptions due to a shortage of chips, according to some experts in the Morocco automotive industry, the problem is expected to worsen for a brief time. Normalcy is not likely to return until the second part of 2022, or possibly early 2023.
Key HighlightsThe market studied is highly consolidated among the top six players. The top companies have been utilizing competitive strategies and investments to retain and expand their shares. The top five players, namely Vivo Energy (Shell), Afriquia, TotalEnergies, Petromin, and OLA Energy, accounted for almost 83% of the market studied.
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