MENA: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in MENA

The MENA's lubricating oil additive market fell slightly to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, saw buoyant growth. The level of consumption peaked at $X in 2021, and then declined slightly in the following year.

Lubricating Oil Additive Production in MENA

In value terms, lubricating oil additive production shrank slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Lubricating Oil Additive Exports

Exports in MENA

In 2022, approx. X tons of additives for lubricating oils were exported in MENA; increasing by X% on the previous year's figure. Over the period under review, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, lubricating oil additive exports skyrocketed to $X in 2022. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. The following exporters - Turkey (X tons) and Saudi Arabia (X tons) - together made up X% of total exports.

The United Arab Emirates was also the fastest-growing in terms of the additives for lubricating oils exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest lubricating oil additive supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Saudi Arabia (X% per year).

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. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Lubricating Oil Additive Imports

Imports in MENA

In 2022, approx. X tons of additives for lubricating oils were imported in MENA; with a decrease of X% on the year before. Total imports indicated a pronounced expansion 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. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted remarkably in the following year.

In value terms, lubricating oil additive imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

The United Arab Emirates was the largest importer of additives for lubricating oils in MENA, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Turkey (X tons) took the second position in the ranking, distantly followed by Algeria (X tons) and Egypt (X tons). All these countries together took near X% share of total imports. Morocco (X tons), Iran (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lubricating oil additive imports into the United Arab Emirates stood at X%. At the same time, Algeria (X%), Iraq (X%), Turkey (X%) and Morocco (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. Egypt experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Algeria (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Egypt and Iran 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 largest lubricating oil additive importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. Algeria, Morocco, Iran and Iraq lagged somewhat behind, together comprising a further X%.

Algeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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