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Middle East and North Africa Lubricants Market size is forecast to reach $20.6 billion by 2025, after growing at a CAGR of 4.0% during 2020-2025. Lubricants are substances which reduce friction and wear between two surfaces. It is applied at the interface of the two surfaces. So, with rise of mechanical equipment the market demand for Lubricants market will grow. Growing public interest towards opening new industries will further enhance the overall market demand for Lubricants during the forecast period.
Type – Segment Analysis
Solid Lubricants segment holds the largest share in the Middle East and North Africa Lubricants Market. A solid lubricant is a solid material which is applied or inserted between two moving surfaces or bearing surfaces. This material will shear a lot more easily than the bearing or moving surfaces. he three main requirements for a material to be a solid lubricant are the ability to support the applied load without major distortion, a low coefficient of friction, and a low rate of wear. Solid lubricants are generally used when the conditions are extreme. Solid lubricants are used in a powder form, as lubricating grease, in suspensions, in metallic films, or in bonded lubricants. Anti-friction linings use solid lubricants. These are the major driving factor for rising adoption of lubricants market. Lubrication reduces the heat generated when two surfaces are in motion. It smooths the process by forming a film between two surfaces that reduces friction and thus improves performance and efficiency.
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End Use – Segment Analysis
Automotive sector has been the primary market for Lubricants. Lubricants have proved to be reliable performance enhancers for the diverse and critical requirements of the automotive industry. Lubricant characteristics vital for the smooth functioning of critical automotive components include, durability & corrosion protection, Wide service temperature range, Noise dampening ability, with others are eventually indirectly promoting the demand for lubricants in the automotive industry. Automotive vehicles need to operate effortlessly in subzero environments as well hot sweltering conditions. Correspondingly, the lubricants used in various critical automotive components also need to perform in extreme temperatures. At high temperatures, plastic composites tend to diffuse and lose their inherent characteristics by borrowing from or combining with ingredients of contacting surface or lubricating medium. Migration of the lubricant molecules inside the plastic composite result in the undesired effects of swelling and softening of plastic material
Geography – Segment Analysis
UAE has dominated the Middle East Lubricants Market with a share of more than xx%, followed by Saudi Arabia and Iran. United Arab Emirates is the second-largest economy of the Middle East region. The United Arab Emirates economy is mainly dependent on the oil industry. Due to fluctuations in crude oil prices and a slowdown in the global economy, the country’s economy has slowed down over the last few years. A significant amount of lubricants is used in oil and gas exploration. High-mileage engine oils are experiencing great demand of lubricants, owing to specific properties, such as oil leak prevention and reduction in oil-burn off. These factors are expected to drive the market over the forecast period in the United Arab Emirates.
Egypt has dominated the North Africa Lubricants Market, followed by Libya and Algeria. Developments in synthetic and bio-based lubricants is projected to act as an opportunity for the market in the future. The lubricant requirements in wind turbine gearboxes are more stringent, when compared to other industrial gear oils. This is because of the high temperatures, bearing wear, corrosion and oxidation, and load weights involved during the process of power generation. There is an increasing demand for synthetic gear oils in wind turbines, due to their enhanced properties, over their mineral-based counterparts, owing to the performance additives used during the formulation of synthetic oils, as per requirement.
Drivers – Middle East and North Africa Lubricants Market
Growing demand due to its diversity
Industrial lubricants are integral to our daily life. No matter if hydraulic oil, industrial gear oil or spindle oils, without these lubricants our modern society would be inflexible and stiff. Few lubricants such helps to maintain trouble-free machines with environment-friendly solutions such as our biodegradable oils. Industrial lubricants offer the right solutions. If necessary, an individual lubricant can be developed which is adapted to a specific process and perfectly suits your needs. Properties like these are favoring market growth of Lubricants.
Implementation of Stringent Regulations
After the COVID 19 pandemic will be over, Governments’ globally will be focusing on boosting their economies, and to do that, they will need to revive their small scale industries by helping them with new supportive governments policies, which will eventually help them to setup their industry and create new employments for the people of their respective countries. With the rise in the various end use industries the lubricants market will also start growing. As the lubricant is used in almost every end use industry.
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Challenges – Middle East and North Africa Lubricants Market
Impact of COVID 19 on the lubricants market
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for Lubricants market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Middle East and North Africa Lubricants Market. Major players in the Middle East and North Africa Lubricants Market are Royal Dutch Shell PLC, Total SA, ExxonMobil Corporation, Middle East Lubricants Company (L.L.C), and PJSC Lukoil Oil Company, among others.
In May 2019, the Royal Dutch Shell PLC, opened its first lubricant laboratory in India. The laboratory will serve as a service provider for the growing demand for innovative lubricant products both in automotive and segments.
UAE & Egypt dominates the Middle East and North Africa Lubricants Market owing to increasing demand from applications such as automotive, aviation along with other industries.
While rising vehicle population, boom in infrastructural activities and increasing preference of consumers to use premium quality oil will result in increased spending on lubricants, which is likely to aid in the market growth of Lubricants.
Properties such as Corrosion prevention, high boiling point, low freezing point will increase the market demand for Lubricants in the near future.
Properties such as poor self-healing, poor heat dissipation and others will create small hurdles for the Lubricants Market.
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