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2 MIDDLE EAST & AFRICA LUBRICANTS MARKET BY TYPE (MINERAL OIL, SYNTHETIC OIL, BIO-BASED OIL, & GREASES), BY APPLICATION (PASSENGER VEHICLES, COMMERCIAL VEHICLES, AVIATION AND MARINE & INDUSTRIAL MACHINERY & EQUIPMENT) GLOBAL TRENDS & FORECASTS TO 2019 It s all about markets MARKETSANDMARKETS sales@marketsandmarkets.com

3 MarketsandMarkets is a global market research and consulting company based in the U.S. It is World s No. 2 in terms of premium market research studies published annually We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including advanced materials, automotive and transportation, aerospace and defence, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2014 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. 2

4 CAGR % ( ) Middle East & Africa Lubricants Market Global Trends & Forecasts to EXECUTIVE SUMMARY FIGURE 1 MIDDLE EAST & AFRICAN LUBRICANT MARKET SIZE, BY COUNTRY, 2014 (KT) Best markets to invest in next years MARKET SIZE (KT), 2014 Note: The bubble size depicts market size (KT) for 2019 Source: Annual Reports, Press Releases, Investor Presentations, ICIS News, Expert Interviews, and MarketsandMarkets Analysis Iran accounted for the largest share of ~ of the total Middle East & Africa lubricants market in Huge demand for lubricants in passenger vehicles is driving the growth of the Iranian lubricants market. Turkey, Egypt, Saudi Arabia, South Africa, and Nigeria are the other key consumers of lubricants in the Middle East & African region. The demand for lubricants in Nigeria and South Africa is projected to grow at the highest rate in the next five years, with a CAGR of and, respectively. The growth of the lubricants market in the Middle East & African region is propelled by factors, such industrial growth, growth in the construction industry, growth in the mining industry in the region which also boosts the associated industries, such as marine, commercial vehicles, and so on and the increasing disposable income of people in the region which helps in the growth of number of passenger vehicles in the region. The flourishing oil & gas exploration and production is also fuelling the growth of lubricant consumption in these two regions. In this report, the Middle East & Africa lubricant market by applications is broadly segmented into transportation and industrial machinery and equipment sectors. The transportation market accounted for the largest market size of the overall lubricants market and is projected to register the highest CAGR of between 2014 and The marine industry, backed with the industrial growth and increasing trade with other parts of the world, is the key industry driving the consumption rate of lubricants in the region. The lubricant market is a diversified and competitive market with a large number of local and global players. The key players in this market are BP (England), Exxon Mobil (U.S), Chevron (U.S), Royal Dutch Shell (The Netherlands), and Total (Paris). 3

5 2 MARKET OVERVIEW 2.1 MARKET SEGMENTATION FIGURE 2 LUBRICANTS MARKET SEGMENTATION, BY APPLICATION Middle East & Africa Lubricant Market, By Application Transportation Industrial Machinery & Equipment Passenger Vehicles Commercial Vehicles Marine Aviation Source: Annual Reports, Expert Interviews, and MarketsandMarkets Analysis 4

6 2.1.1 BY REGION S FIGURE 3 LUBRICANT MARKET SEGMENTATION, BY REGION Middle East & Africa Lubricant market, BY Region Middle East Africa UAE Iraq Iran Saudi Arabia Bahrain Qatar Oman Kuwait Israel Turkey Syria Lebanon Yemen Palestine South Africa Kenya Ghana Zimbabwe Chad Togo Tanzania Zambia Namibia Egypt Algeria Nigeria Morocco Sudan Libya Source: Annual Reports, Expert Interviews, and MarketsandMarkets Analysis 5

7 3 MIDDLE EAST & AFRICAN LUBRICANTS MARKET, BY APPLICATION 3.1 INTRODUCTION The lubricants market based on application is segmented into two broad categories, namely, transportation and industrial machinery & equipment. The transportation category is further subsegmented into commercial vehicles, passenger vehicles, aviation, and marine. The lubricants utilized in these applications are of different grades and have different specifications, such as viscosity index and density. The use of lubricants helps enhancement of vehicle and machine life. It ensures smooth functioning of machines and equipment and therefore is crucial and a constant requirement in the automotive and industrial sectors. 3.2 MARKET SIZE & PROJECTION FIGURE 4 TRANSPORTATION SEGMENT TO HAVE THE HIGHEST CONSUMPTION Lubricants Market, By Application Market Size, 2014 (KT) % CAGR ( ) Forecasted Market Size, 2019 (KT) Transportation Industrial machinery & Equipment The transportation sector is growing at a faster rate as compared to industrial machinery and equipment. The main reason behind this is the growth of the automotive, marine and aviation industries in Middle East and Africa Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis 6

8 3.2.1 GROWTH IN AUTOMOTIVE IS DRIVING THE LUBRI CANT DEMAND TABLE 1 LUBRICANTS MARKET SIZE, BY APPLICATION, (KT) Application CAGR% ( ) Transportation Industrial Machinery & Equipment Total Source: Secondary Research, Expert Interviews and MarketsandMarkets Analysis The transportation application dominated the Middle East & African lubricants market with share in Also, this application is projected to experience the maximum rise in demand till The growing automotive industry is the major driver of lubricants demand for this application. On the other hand, the industrial machinery & equipment application is driven by growth in manufacturing industry, particularly in sub-saharan Africa. The industrial machinery and equipment application is expected to register a CAGR of between 2014 and The market for lubricants for this application area was estimated at KT in 2013 and is projected to reach KT by

9 4 REGIONAL ANALYSIS 4.1 INTRODUCTION The lubricants market in this report is divided into two key regions, namely the Middle East and Africa. The total lubricants market size in these two regions was estimated to be KT in In 2013, Iran had the maximum share of in the Middle East region and Egypt had the maximum share of in the African region. FIGURE 5 REGIONAL SNAPSHOT (2013) RAPID GROWTH MARKETS ARE EMERGING AS NEW HOTSPOTS Morocco Libya Egypt Turkey Iran Algeria Chad Iraq Saudi Arabia Sudan UAE Ghana Nigeria Oman Kenya Namibia Zimbabwe Tanzania Zambia South Africa CAGR - CAGR - CAGR - CAGR > Source: MarketsandMarkets Analysis 8

10 4.2 MIDDLE EAST FIGURE 6 INDUSTRIALIZATION AND INFLOW OF INVESTMENTS IS DRIVING THE LUBRICANTS CONSUMPTION IN AFRICA Rapid industrialization and increasing investments coupled with political stabilization are the key to growth in Africa The increasing disposable income of people in key countries, such as South Africa and Nigeria has led to increase in sales of passenger vehicles and thereby boosts the sales of automotive lubricants Greases are readily used in industries and the growth in the industrial sector is bringing in more consumption of greases Lubricant consumption in Transportation sector (in kilo tons) The demand for industrial lubricants is driven primarily by the key industry sectors which include the petroleum industry, mining, agriculture, and industrial manufacturing and processing. EGYPT Market Size: KT CAGR: % NIGERIA Top 3 countries in African Lubricant Market Market Size KT CAGR: % SOUTH AFRICA Lubricant consumption in Non Transportation sector (in kilo tons) Market Size: KT CAGR: % Supporting the growth of lubricant market in Africa Africa Lubricant Market, by Type (2013) The oil & gas exploration sector plays a vital role in the consumption of lubricants. On shore, off shore, and deep water drilling is taking place in the sedimentary basins of Nigeria, which is the largest producer of crude oil in Africa The economic development of countries, such as Nigeria and Kenya is propelled by the investment in different sectors Mineral Oil Lubricant Synthetic Oil Lubricant Bio Based Lubricants Greases Source: Annual Reports, Press Releases, Investor Presentation, ICIS News, Expert Interviews, and MarketsandMarkets Analysis 9

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