1. Market Research
  2. > Chemical
  3. > Specialty Chemical Market Trends
Saudi Arabia Lubricants Market - Growth, Trends, and Forecast (2020 - 2025)

Saudi Arabia Lubricants Market - Growth, Trends, and Forecast (2020 - 2025)

  • September 2020
  • 116 pages
  • ID: 5974113
  • Format: PDF
  • Mordor Intelligence LLP
Up to $650 off Until Mar 10th 2021

Summary

Table of Contents

Search Inside

The Saudi Arabia lubricants market is expected to register a CAGR of around 1% during the forecast period. Major factors driving the market are the progressing industrial sector in the country and increasing usage of high-performance lubricants.

- However, increase in drain intervals in the automotive and industrial sectors is likely to hinder the growth of the market studied.
- By product type, the engine oil segment dominated the market studied. However, the process oil segment is projected to register the highest CAGR during the forecast period.

Key Market Trends
Semi-synthetic Lubricants to Drive the Market Growth

- Synthetic lubricants are processed from chemically-modified petroleum products and other synthetic raw materials, under controlled conditions. Properties, such as temperature resistance, higher viscosity, and better oxidation stability, when compared to other types of lubricants, are promoting the increasing usage of synthetic lubricants.
- Synthetic lubricants are primarily employed in the automotive, construction, and food and beverage industries. Major applications include engine oil and coolants, transmission fluids, and gear oils, owing to their anti-sludge-forming, and fast-action abilities.
- Saudi Arabia is way beyond other developed nations, in terms of synthetic lubricant consumption, but it is expected to witness a rapid growth during the forecast period.
- Currently, synthetic esters and polyalphaolefins (PAO) are the most widely used synthetic lubricants.
- Despite many technological advantages over conventionally used lubricants, the high cost of synthetic lubricants is hampering their usage.
- Increasing usage of high-end cars and consumer preference for lower maintenance costs are expected to boost the market for synthetic lubricants in the coming years.
- Changing technology, downsizing of engines, and environmental regulations are some of the factors responsible for the expected increase in the consumption of these lubricants over the forecast period.

The Automotive and Other Transportation Segment Dominated the Market

- The automotive and other transportation segment was the major end-user industry in the lubricants market.
- Saudi Arabia is expected to witness a rise in demand for lubricant oils over the forecast period. The country has committed to become the auto hub of the Middle East. The Kingdom is adding rail lines, investing in workforce education, expanding shipping ports, and offering other incentives to attract vehicle makers and suppliers.
- Saudi Arabia is the largest auto and auto parts market in the Middle East, accounting for ~40% of all the vehicles sold in the region. Saudi is the largest importer of US automotive products and parts in the Middle Eastern region, with some of these imports being re-exported.
- Saudi Arabia does not have an automotive production base. However, there is presence of aftermarket services, which contributes a little to the market. The country is focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs), to open their production plants in the country and to develop the domestic auto industry.
- Additionally, the country is experiencing a steady growth in the sales of new cars, with the market expected to reach one million units by 2020, growing at a rate of 6.7% per annum. According to the General Authority for Statistics, the automotive industry is expected to witness a growth rate of around 4-5%, y-o-y, over the next decade.
- Saudi Arabia imported majority of its automobiles till date, but with the government’s invitation for FDI in the automotive sector, the country may stand as one of the major producers of automobiles in the region.
- The Saudi Arabian market is expected to provide huge opportunities for the automobile manufacturers during the forecast period. As per LMC Automotive, the decision to allow women drivers has the potential to increase car sales by 15-20%, annually, in the country.
- Foreign automotive manufacturers are trying to invest in the market, which is expected to open up opportunities for automotive lubricants.
- The country’s economy is expected to have very less effect due to the direct impact of COVID-19. However, the indirect effects of COVID-19, such as decline in demand for crude oil and the international uncertainty among OPEC+ countries in dealing with crude oil supply, are expected to have greater impacts on the economy.

Competitive Landscape
The Saudi Arabia lubricants market is highly consolidated, with the top five players accounting for more than 90% of the market. Owing to the slowdown of the European and North American markets, the emerging market potentials have been clearly visible in the Middle Eastern region, thus, making the market studied as one of the most attractive destinations for lubricant oil producers. Petromin Corporation is the market leader of lubricants in the Kingdom of Saudi Arabia. The company alone accounts for approximately 50% of the market, with over 150 different products.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

$3250

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Lubricant Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • $ 4250 - $ 3825 - Get 10% off now!
  • February 2021
  • 231 pages

The global lubricant additives market is expected to register a CAGR over 3% during the forecast period. Environmental concerns are a major factor in lubricant formulation and use. Lubricant additives ...

  • World
  • APAC
  • Lubricants
  • Lubricant Additive
  • Industry analysis
  • Vehicle Production
  • Gross Domestic Product

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on