Middle East and Africa lubricants additive market report gives comprehensive outlook on lubricants additive market across the different countries of Middle East Africa such as South Africa, GCC, and the Rest of MEA. The report on Middle East and Africa lubricants additive market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies Middle East and Africa lubricants additive market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
In addition, Middle East and Africa lubricants additive market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Middle East and Africa lubricants additive market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Middle East and Africa lubricants additive market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Middle East and Africa Lubricants Additive market:
The lubricant additives market is being driven mainly by high growth in the developing nations along with efforts toward fuel economy. In order to achieve fuel economy, extensive research is being done to improve lubricant additive properties and characteristics to comply with the technological changes in modern engines and accessories. Increasing marine and aviation transportation, growing automotive industry, and improved emission regulations in conjunction with fuel economy standards are driving the lubricant additives market growth.
The enhancement in durability allows effective use of energy resources, provides capabilities to employ alternative fuels, and maintains low levels of exhaust emissions. The use of environment-friendly fuels, including renewable fuels, in both automotive and industrial engines, is expected to drive the demand for lubricant additives over the forecast period. However, higher drain intervals for high-grade lubricants inhibit the market growth owing to lubricant solutions with decreased maintenance costs and servicing. In addition, the fluctuations in the lubricant market are responsible for the relatively low growth rate of the world lubricant additives market.
Strategic Acquisition and Business Expansions Escalates the Growth of Lubricants Additive Market
Middle East and Africa lubricant additives market is characterized by the presence of a large number of players. Companies are thriving on various applications of tactics such as merger, acquisition, product launches, and others. For instance, Italmatch Chemicals is planning to acquire Afton Chemical’s metalworking fluid business which can prove beneficial for the former’s portfolio and help in further expansion. Lanxess, meanwhile, manages to take over Chemtura which will boost its additives market.
Investments in R & D for the Product Launch Aids in the Growth of Lubricants Additive Market
The lubricant additives market is expected to grow at a CAGR of XX% by 2019. Lubricant additive are primarily used to enhance fuel efficiency, improve performance, and engine protection. The lubricant additives are expected to play a vital role in the coming years, towards fuel economy, especially contributing to emerging technologies like Dual Clutch Technology (DCT). With incrEasting regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas emissions, there has been a tremendous development in lubricating oil formulations.
Blenders have significantly invested in R&D for developing superior products that adhere to environmental regulations as well as consumer expectations. Since additives play a significant role in base oil blending and subsequent formulations as they are critical materials in improving specification and performance of oils. The trend as stated above has had an enormous impact on the industry’s development over the past and is expected to continue driving the Middle East and Africa lubricant additives market.
Iran and Egypt Accounts for Larger Market Revenue Share in Middle East and Africa Lubricants Additive Market
Middle East and Africa market, together accounted for over XX% share of the global market in terms of volume in 2013. The growing automotive, marine, and aviation industries have led to an enhanced demand for lubricants from these regions. The Iranian market was the largest lubricants market in the Middle East & Egypt was the largest market in Africa, in terms of consumption of lubricants in 2013. The market in Nigeria in Africa and Iran in Middle East are estimated to grow at high rates in the next five years.
The transportation sector has a high consumption share in the Middle East & Africa lubricant market. The transportation and non-transportation sectors are estimated to grow exponentially. The adoption of synthetic lubricants to increase the efficiency and reduce the drain out time of vehicles is the current trend in the automotive industry which is boosting the overall lubricants demand for automotive utilization in the Middle East & Africa. The need to enhance fuel efficiency of vehicles has led to replacement of traditional lubricants with innovative and newer lubricants.
Key players profiled in the Middle East and Africa lubricants additive market include:
· Chevron Corp
· Afton Chemical Corporation
· The Lubrizol Corporation
· Infineum International Limited
· BASF SE
· BRB International BV
· Wuxi South Petroleum Additive Co.
· Croda Lubricants
· DOG Chemie
· Dorf Ketal
· Dover Chemical
· Eni SpA.
· Evonik Industries AG
· Jinzhou Kangtai Lubricant Additives Co. Ltd
· King Industries Inc.
Key players are adopting new strategy to establish their footprint worldwide thereby enhancing their product portfolio. Merger, acquisition, product development and collaborations are some of the market strategy the key players implement. In September 2017, BASF commissioned technical lab at Innovation Campus Asia Pacific, located in Navi Mumbai, India.
Key Findings of the Report:
Middle East and Africa Lubricants Additive market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to flourishing economy and rapidly expanding industrial and automotive sectors
· Based on product type detergent segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
· Players focusing on mergers and acquisitions strategies to retain market position in Middle East and Africa Lubricants Additive market
Key Features of the Report:
· The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
· The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
· The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
· The report tracks recent innovations, key developments and startup’s details that are actively working in the market
· The report provides plethora of information about market entry strategies, regulatory framework
· The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
o Viscosity index improvers
o Anti-wear agents
o Corrosion inhibitors
o Friction modifiers
By Application Type
o Automotive lubricants
o Industrial lubricants
o Middle East and Africa
· South Africa
· Gulf Corporation Council Countries (GCC)
· Rest of MEA