Market Size of United Arab Emirates Lubricants Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
|> 1.00 %
*Disclaimer: Major Players sorted in no particular order
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UAE Lubricants Market Analysis
The United Arab Emirates lubricants market is expected to register a CAGR of more than 1% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has reportedly reached pre-pandemic levels and is forecasted to grow steadily.
- Growth of the domestic food and beverage industry is expected to fuel market expansion over the projected period.
- The future impact of electric vehicles (EVs) will likely hinder market growth during the forecast period.
- Investments and the government's plans to support industrial growth in the country are likely to provide a major growth opportunity for the market studied during the forecast period.
- The automotive and other transportation segment dominates the market and is expected to continue its dominance during the forecast period.