Saudi Arabia Lubricants Market: by Base Oil (Bio-based Oil, Mineral Oil, Synthetic Oil), By Product Type (Compressor oil, Engine Oil, Gear Oil, Grease, Hydraulic fluid, Metalworking fluid, Turbine Oil, Others) End User (Transportation, Industrial,) and Country  

Saudi Arabia lubricants market size is valued at USD 1,378.9 million in 2021, growing at a CAGR of 2.05% rate during the forecast period 2022 to 2028. The market provides a detailed overview market, and that can be segmented by base oil, by product type and by end user. By Base Oil, the Saudi Arabia lubricants market has been segmented into Bio-based Oil, Mineral Oil, and Synthetic Oil. The synthetic oil lubricants segment is likely to be the largest and fastest-growing segment in terms of base oil. Based on Product Type, the market is segmented into Compressor oil, Engine Oil, Gear Oil, Grease, Hydraulic fluid, Metalworking fluid, Turbine Oil, and Others. Among these, the compressor oil segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on end user, the Saudi Arabia lubricants market is segmented into Transportation, and Industrial. The transportation segment accounts for the largest share in 2021. Key Development: In March 2022, TotalEnergies and NEXUS Automotive Extending their strategic partnership for another five years. TotalEnergies Lubricants will increase its market share in the rapidly growing N! community as a result of this cooperation, resulting in sales jump from EUR 7.2 billion in 2015 to roughly EUR 35 billion by the end of 2021. In April 2022, ExxonMobil Corporation was divided into three business divisions as ExxonMobil Upstream Company, ExxonMobil Product Solutions, and ExxonMobil Low Carbon Solutions.