Africa & Middle East (country-wide) Lubricants Market Research Report-Forecast till 2032

Africa & Middle East (country-wide) Lubricants Market Research Report Forecast till 2032

The MEA Lubricants market is projected to witness significant growth during the review period, exhibiting a CAGR of 3.0%. The market was estimated to be USD 12594.4 Million in 2022 and is expected to reach a value of USD 16886.8 Million by the end of the forecast period (2023-2032).

The growing automobile industry is fueling the lubricants market in the Middle East and Africa (MEA). A rise in industrial activity and rising vehicle ownership are fueling the lubricant market. The increasing focus on sustainability and energy efficiency has led to a surge in the use of high-performance lubricants, which lower friction and improve fuel economy in machines and automobiles. The growth of the MEA lubricants market is being accelerated by this trend, offering manufacturers substantial prospects.

Furthermore, the MEA region's swift urbanization and infrastructure growth are important factors propelling the lubricants industry. For maximum efficiency and endurance, manufacturing facilities, construction sites, and increased machinery utilization require effective lubrication. The market is expanding due to the growing need for specialty lubricants designed to satisfy the unique needs of various applications. Lubricant manufacturers are positioning themselves strategically to take advantage of the growing prospects resulting from these dynamic sectors as the region continues to see continuous industrialization.

The market for MEA lubricants is also significantly shaped by legislative actions and government initiatives. The enforcement of strict environmental rules is driving the transition towards sustainable and eco-friendly lubricants. The regional governments are pushing for the use of bio-based lubricants and implementing laws requiring the decrease of hazardous emissions. The current regulatory environment is encouraging lubricant makers to create more environmentally friendly formulations through innovation. As a result, the market for MEA lubricants is changing in response to these legislative requirements, promoting an environmentally favorable and sustainable industrial environment.

Market Segmentation

Based on the product type, the Middle East and African lubricants market has been bifurcated into mineral oil, synthetic, and bio-based.

Based on the product type, the Middle East and Africa Lubricants market has been bifurcated into Hydraulic Fluids, metalworking fluids, engine and gear oils, general industrial oils, dielectric fluids, and others.

Based on the end-use industry, the Middle East and African lubricants market has been bifurcated into Automotive and transportation, Commercial and passenger Vehicles, Building and construction, Metals and mining, Power Generation, Oil and gas, Textile, and Others.

The report on the Middle East and Africa Lubricants Market has been segmented on the basis of country Saudi Arabia, Qatar, Oman, UAE, South Africa, Egypt, Turkey, Zimbabwe, Zambia, Iran, Iraq, Libya, Morocco, Algeria, Rest of the Middle East and Africa.

Major Players

Exxon Mobil Corporation, Shell, BP p.l.c., Chevron, TotalEnergies, ENOC Company, Gulf Oil, International Ltd, PETRONAS Lubricants International, LUKOIL, Axcl Lubes, TotalEnergies.