Market Size of Middle-East Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 2.87 Billion liters |
| Market Volume (2029) | 3.23 Billion liters |
| CAGR (2024 - 2029) | 2.43 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Lubricants Market Analysis
The Middle-East Lubricants Market size is estimated at 2.87 Billion liters in 2024, and is expected to reach 3.23 Billion liters by 2029, growing at a CAGR of 2.43% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, the manufacturing industry was severely affected, and this resulted in a decrease in the use of lubricants in 2020. However, with the recovery of many construction projects and other industrial activities, the market saw a recovery phase in the year 2021. It is expected to see a positive trend in the forecasted years. An increase in automotive sales and engineering goods has been leading the market recovery over the last two years.
The industrial growth in Saudi Arabia, Iran, and the United Arab Emirates and the growing usage of high-performance lubricants are the major driving factors augmenting the growth of the market studied.
On the flip side, costlier high-performance lubricants are expected to hinder the growth of the market.
Developments in synthetic and bio-based lubricants are projected to act as an opportunity for the market in the future.
Saudi Arabia emerged as the largest market for lubricants and is expected to register the highest CAGR during the forecast period.
