Middle East & Africa Grease Additives Market Forecast to 2028– COVID-19 Impact and Regional Analysis– Type (Oxidation Inhibitors, Corrosion Inhibitors, Anti-wear Agents, Pressure Additives, Metal Deactivators and Others), Application (Automotive, Aerospac

Middle East & Africa Grease Additives Market Forecast to 2028– COVID-19 Impact and Regional Analysis– Type (Oxidation Inhibitors, Corrosion Inhibitors, Anti-wear Agents, Pressure Additives, Metal Deactivators and Others), Application (Automotive, Aerospace, Marine, Mining, Steel Mill, Construction Machinery and Others)

The Middle East & Africa grease additives market is expected to grow from US$ 17.34 million in 2022 to US$ 21.91 million by 2028. It is estimated to grow at a CAGR of 4.0% from 2022 to 2028.

Proliferation of Automotive Industry Fuel Middle East & Africa Grease Additives Market

The renewable energy industry, a subsegment of the power sector, is emerging as a prominent consumer of industrial greases. Grease is primarily used in turbines and transformers in this industry. In recent years, the increasing demand for renewable energy has led to an upsurge in wind turbine installations worldwide. The IEA states that 830 GW of wind capacity was installed globally as of 2021, of which 93% were onshore systems while 7% were offshore wind farms. Countries across the world are taking initiatives to increase their renewable energy capacities through wind turbine installations.

With several new wind installations, the demand for lubricants such as greases has increased worldwide. Wind turbine lubricants contribute to the reliability of wind farms by ensuring streamlined operations and maintenance. Lubrication is essential at various points in a wind turbine; these include the gearbox, open gear, pitch gear, and pitch bearing. Wind power industry use grease additives such as pressure additives, corrosion inhibitors, and oxidation inhibitors to ensure the enhanced performance. Thus, the rising demand for greases in the wind power industry is likely to favor the growth of the Middle East & Africa grease additives market in the coming years.

Middle East & Africa Grease Additives Market Overview

Governments of various countries in the Middle East & Africa are focused on developing aviation infrastructure. They are planning to create new routes for new airspace entrants, including unmanned vehicles such as drones and other electric aircraft. On August 14, 2022, the government of Saudi Arabia invested US$ 100 billion in the aviation sector to be able to host at least 300 million passengers and 5 million tons of freight by 2030. Rapid industrialization and growth in disposable income, resulting in an upsurge in the number of passengers opting for air travel, further support the progress of the aviation industry in the Middle East & Africa. According to a report by the International Trade Administration, the UAE government has been investing in various initiatives to support the aerospace industry, thus encouraging partnerships among significant market players and original equipment manufacturers (OEMs). Aviation greases containing additives lubricate critical components and protect them from extreme conditions.

Middle East & Africa grease additives market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa grease additives market Segmentation

The Middle East & Africa grease additives market is segmented into type, application, and country.

Based on type, the Middle East & Africa grease additives market is segmented into oxidation inhibitors, corrosion inhibitors, anti-wear agents, pressure additives, metal deactivators, and others. The oxidation inhibitors segment held a larger share of the Middle East & Africa grease additives market in 2022.

Based on application, the Middle East & Africa grease additives market is segmented into automotive, aerospace, marine, mining, steel mill, construction machinery, and others. The automotive segment held the larger share of the Middle East & Africa grease additives market in 2022.

Based on country, the Middle East & Africa grease additives market is segmented into the Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Saudi Arabia dominated the share of the Middle East & Africa grease additives market in 2022.

Key players dominating the Middle East & Africa grease additives market are Afton Chemical Corp; BASF SE; Clariant AG; Croda International plc; Evonik Industries AG; Shamrock Technologies Inc; The Lubrizol Corp; RT Vanderbilt Holding Co Inc; and Lanxess AG; and IPAC In are the leading companies operating in the Middle East & Africa Grease Additives Market.

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