Market by Group, Application, and Country Outlook | Forecast 2022-2028
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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VIEW REPORT1. 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
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)
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)