MENA: Lubricant Additives Market 2024

Lubricant Additives Market Size in MENA

The MENA's lubricant additives market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption posted a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in MENA

In value terms, lubricant additives production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lubricant Additives Exports

Exports in MENA

In 2022, approx. X tons of prepared additives for mineral oils were exported in MENA; growing by X% compared with the previous year. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman was the major exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports.

Oman was also the fastest-growing in terms of the prepared additives for mineral oils exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Oman ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Lubricant Additives Imports

Imports in MENA

In 2022, approx. X tons of prepared additives for mineral oils were imported in MENA; growing by X% on the previous year's figure. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, lubricant additives imports surged to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates represented the key importer of prepared additives for mineral oils in MENA, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Turkey (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%) and Algeria (X%). The following importers - Egypt (X tons), Iraq (X tons) and Kuwait (X tons) - together made up X% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Algeria (X%), Oman (X%), Kuwait (X%), Iraq (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Egypt (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Oman (X p.p.), Algeria (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey and Egypt saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported prepared additives for mineral oils in MENA, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Oman, with an X% share.

In the United Arab Emirates, lubricant additives imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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