Market Trends of south africa lubricants Industry
This section covers the major market trends shaping the South Africa Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2021, the South Africa lubricant market was dominated by the automotive industry which accounted for around 58% of the total lubricant consumption in the country. During 2015-2019, the lubricant consumption in the automotive industry increased by a CAGR of 2.39%.
- In 2020, COVID-19 restrictions led to declined maintenance requirements in various industries. Metallurgy & Metalworking Segment recorded highest dip of 14.63% in lubricant consumption. In 2021, the highest rebound of 5.26% in lubricant consumption was observed in automotive industry.
- Power generation is likely to be the fastest-growing end-user industry of the market studied with a CAGR of 3.66% over the period 2022-2027, followed by automotive (3.37%). The growing capacity addition and expanding distribution network in the country is likely to drive the consumption of lubricants in the power generation industry.
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