MIDDLE EAST AND AFRICA BASE OIL MARKET 2022-2028

Chemicals & Materials | Petrochemicals

MIDDLE EAST AND AFRICA BASE OIL MARKET 2022-2028

Market by Group, Application, and Country Outlook | Forecast 2022-2028

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Triton Market Research’s study shows that the base oil market in the Middle East and Africa will grow at a volume CAGR of 4.18% and revenue CAGR of 3.67% in the forecast duration 2022-2028.


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The countries studied in this market include:

•         The United Arab Emirates

•         Turkey

•         South Africa

•         Saudi Arabia

•         Rest of Middle East & Africa

Some of the key factors anticipated to significantly influence the growth of the base oil market in the Middle East and Africa region during the forecast period include the expansion of the automotive industry and significant investments in the region's lubricant sector.

The base oil market in the United Arab Emirates is anticipated to develop during the projected period due to major innovations made by industry players in both base oil and base oil products. For instance, ADNOC Distribution (Abu Dhabi National Oil Company) expanded its lubricant offering and improved its product range to support a lower carbon footprint, in 2022, bringing plant-based lubricants to the Middle East & Africa for the first time. The business announced the Voyager Green Series for petrol and diesel engines, a new line of lubricant solutions created entirely from plant-based oils.

In Israel, one of the key drivers anticipated to support the expansion of the base oil market over the forecast period is the development of the nation's automotive industry. There has been an upsurge in demand for passenger cars. The Organisation Internationale des Constructeurs d'Automobiles (OICA) reports that 26,800 new cars were sold, representing a 159% raise. For improved fuel efficiency and performance of the cars, such expansion in the automotive industry is anticipated to raise demand and acceptance of base oil products, such as automotive lubricants and engine oils. As a result, this will likely encourage market expansion in Israel over the predicted period. Israel is covered in Rest of Middle East & Africa.

Industrial oil plays a crucial role in several industries. These oils are used to improve the efficiency of industrial machinery and equipment while guarding against any damage while they are in use. Industrial lubricating fluids support heavy-duty operations in terms of product and process safety. Due to this, market players worldwide are developing and releasing cutting-edge goods in industrial oil to meet the needs of end-use industries. For instance, Anderol BV has added a high-performance, synthetic, hazard-free compressor and vacuum pump oil to its line of products.

The studied report assesses the market’s growth based on group and application. Here, the application segment comprises automotive oil, industrial oil, greases, hydraulic oil, metalworking fluids and other applications.

The major companies excelling in the base oil market are Ergon Inc, PT Pertamina (Persero), Avista Oil AG, S-Oil Corporation, Chevron Corporation, Phillips 66 Company, Saudi Aramco, and Nynas AB.

Founded in 2002, Sepahan Oil Company (SOC) is an independent oil refinery with headquarters in Tehran, Iran. The company is currently the largest producer of base oil in the Middle East, with a capacity of more than 700,000 MT per year. The primary product offered by the company, SN 500 Sepahan Base Oil, is a Group I base oil that has undergone the processes of solvent refining and is used in lubricant production.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies


    Comprehensive information and estimation of the base oil market revenue growth in the Middle East and Africa and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces Model


      A wide-ranging study of factors that will challenge the Middle East and Africa base oil market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. MIDDLE EAST AND AFRICA BASE OIL MARKET - SUMMARY 

2. INDUSTRY OUTLOOK 

2.1. IMPACT OF COVID-19 ON THE BASE OIL MARKET         

2.2. KEY INSIGHTS    

2.2.1. RAPID INDUSTRIALIZATION ACROSS THE GLOBE 

2.2.2. INCREASING DEMAND FOR HYDRAULIC OIL

2.3. PORTER’S FIVE FORCES ANALYSIS 

2.3.1. THREAT OF NEW ENTRANTS    

2.3.2. THREAT OF SUBSTITUTES       

2.3.3. BARGAINING POWER OF BUYERS     

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY  

2.4. MARKET ATTRACTIVENESS INDEX  

2.5. VENDOR SCORECARD  

2.6. KEY MARKET STRATEGIES    

2.6.1. PRODUCT LAUNCHES & DEVELOPMENTS   

2.6.2. PARTNERSHIPS & AGREEMENTS       

2.7. MARKET DRIVERS        

2.7.1. RISING DEMAND FOR HIGH-GRADE OILS FROM THE AUTOMOTIVE SECTOR     

2.7.2. WIDE RANGE OF APPLICATIONS ACROSS DIFFERENT END-USERS 

2.7.3. STRINGENT ENVIRONMENTAL REGULATIONS LEADING TO STRICT PERFORMANCE STANDARDS  

2.8. MARKET CHALLENGES 

2.8.1. VOLATILITY IN THE PRICE OF CRUDE OIL   

2.8.2. DECREASE IN THE DEMAND FOR GROUP I BASE OIL     

2.9. MARKET OPPORTUNITIES      

2.9.1. INCREASING POPULARITY OF RENEWABLE BASE OIL   

3. MIDDLE EAST AND AFRICA BASE OIL MARKET OUTLOOK - BY GROUP (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)

3.1. GROUP I   

3.2. GROUP II  

3.3. GROUP III 

3.4. GROUP IV 

3.5. GROUP V  

4. MIDDLE EAST AND AFRICA BASE OIL MARKET OUTLOOK - BY APPLICATION (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)

4.1. AUTOMOTIVE OIL

4.2. INDUSTRIAL OIL 

4.3. GREASES  

4.4. HYDRAULIC OIL  

4.5. METALWORKING FLUIDS        

4.6. OTHER APPLICATIONS 

5. MIDDLE EAST AND AFRICA BASE OIL MARKET – COUNTRY OUTLOOK (IN TERMS OF VALUE: $ MILLION & VOLUME: KILOTON)

5.1. UNITED ARAB EMIRATES        

5.2. SAUDI ARABIA     

5.3. TURKEY     

5.4. SOUTH AFRICA   

5.5. REST OF MIDDLE EAST & AFRICA    

6. COMPETITIVE LANDSCAPE  

6.1. EXXON MOBIL CORPORATION         

6.2. CHEVRON CORPORATION               

6.3. SAUDI ARAMCO  

6.4. SHELL PLC

6.5. NESTE OYJ         

6.6. GS CALTEX CORPORATION   

6.7. AVISTA OIL AG    

6.8. PT PERTAMINA (PERSERO)    

6.9. PHILLIPS 66 COMPANY 

6.10. SEPAHAN OIL   

6.11. ERGON INC       

6.12. GRUPA LOTOS  

6.13. NYNAS AB         

6.14. S-OIL CORPORATION 

6.15. REPSOL SA       

7. RESEARCH METHODOLOGY & SCOPE    

7.1. RESEARCH SCOPE & DELIVERABLES        

7.2. SOURCES OF DATA                

7.3. RESEARCH METHODOLOGY   

List of Tables

TABLE 1: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)

TABLE 3: VENDOR SCORECARD

TABLE 4: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP, 2022-2028 (IN $ MILLION)

TABLE 5: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP, 2022-2028 (IN KILOTON)

TABLE 6: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)

TABLE 7: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY APPLICATION, 2022-2028 (IN KILOTON)

TABLE 8: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 9: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN KILOTON)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP, 2021 & 2028 (IN %)

FIGURE 3: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP I, 2022-2028 (IN $ MILLION)

FIGURE 4: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP II, 2022-2028 (IN $ MILLION)

FIGURE 5: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP III, 2022-2028 (IN $ MILLION)

FIGURE 6: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP IV, 2022-2028 (IN $ MILLION)

FIGURE 7: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GROUP V, 2022-2028 (IN $ MILLION)

FIGURE 8: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY APPLICATION, 2021 & 2028 (IN %)

FIGURE 9: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY AUTOMOTIVE OIL, 2022-2028 (IN $ MILLION)

FIGURE 10: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY INDUSTRIAL OIL, 2022-2028 (IN $ MILLION)

FIGURE 11: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY GREASES, 2022-2028 (IN $ MILLION)

FIGURE 12: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY HYDRAULIC OIL, 2022-2028 (IN $ MILLION)

FIGURE 13: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY METALWORKING FLUIDS, 2022-2028 (IN $ MILLION)

FIGURE 14: MIDDLE EAST AND AFRICA BASE OIL MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)

FIGURE 15: MIDDLE EAST AND AFRICA BASE OIL MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 16: UNITED ARAB EMIRATES BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 17: SAUDI ARABIA BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 18: TURKEY BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 19: SOUTH AFRICA BASE OIL MARKET 2022-2028 (IN $ MILLION)

FIGURE 20: REST OF MIDDLE EAST & AFRICA BASE OIL MARKET 2022-2028 (IN $ MILLION)

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