MENA: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in MENA

The MENA's lubricating oil additive market amounted to $X in 2021, surging by 8.1% against the previous year. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Lubricating Oil Additive Production in MENA

In value terms, lubricating oil additive production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 31%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lubricating Oil Additive Exports

Exports in MENA

In 2021, the amount of additives for lubricating oils exported in MENA fell to X tons, which is down by -14.5% on 2020. Overall, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 84% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lubricating oil additive exports dropped rapidly to $X in 2021. In general, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of 81%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was approx. 89% of total exports in 2021. The following exporters - Saudi Arabia (X tons), Turkey (X tons) and Libya (X tons) - each amounted to a 9.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lubricating oil additive exports from the United Arab Emirates stood at +15.8%. At the same time, Libya (+624.3%) displayed positive paces of growth. Moreover, Libya emerged as the fastest-growing exporter exported in MENA, with a CAGR of +624.3% from 2012-2021. By contrast, Turkey (-11.2%) and Saudi Arabia (-14.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Libya increased by +72 and +2.7 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest lubricating oil additive supplier in MENA, comprising 82% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7% share of total exports. It was followed by Turkey, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +16.4%. In the other countries, the average annual rates were as follows: Saudi Arabia (-13.8% per year) and Turkey (-8.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, dropping by -23.6% against the previous year. Over the period under review, the export price recorded a slight descent. The pace of growth was the most pronounced in 2014 an increase of 16%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Libya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the other leaders experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports in MENA

In 2021, after three years of decline, there was significant growth in supplies from abroad of additives for lubricating oils, when their volume increased by 5.9% to X tons. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 16%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricating oil additive imports amounted to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 15%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the main importer of additives for lubricating oils in MENA, with the volume of imports recording X tons, which was near 39% of total imports in 2021. Saudi Arabia (X tons) held the second position in the ranking, followed by Turkey (X tons) and Morocco (X tons). All these countries together took near 42% share of total imports. Egypt (X tons), Iran (X tons), Algeria (X tons) and Oman (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to lubricating oil additive imports into the United Arab Emirates stood at +6.0%. At the same time, Algeria (+9.9%), Morocco (+6.4%), Saudi Arabia (+5.3%) and Turkey (+2.8%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +9.9% from 2012-2021. By contrast, Oman (-2.3%), Iran (-2.4%) and Egypt (-8.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Saudi Arabia and Algeria increased by +11, +4.4 and +1.7 percentage points, 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 Saudi Arabia ($X), together accounting for 77% of total imports. These countries were followed by Egypt, Algeria, Morocco, Iran and Oman, which together accounted for a further 16%.

Among the main importing countries, Algeria, with a CAGR of +9.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 4.9% against the previous year. In general, the import price, however, showed a slight downturn. The growth pace was the most rapid in 2018 an increase of 5.6% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform