Middle East: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the Middle East

The Middle Eastern lubricating oil additive market rose sharply to $X in 2021, surging by 9.1% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Lubricating Oil Additive Production in the Middle East

In value terms, lubricating oil additive production contracted significantly to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The growth pace was the most rapid in 2020 with an increase of 188% against the previous year. As a result, production reached the peak level of $X, and then shrank remarkably in the following year.

Lubricating Oil Additive Exports

Exports in the Middle East

In 2021, approx. X tons of additives for lubricating oils were exported in the Middle East; which is down by -12.9% compared with the previous year's figure. Over the period under review, exports showed a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 86% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, lubricating oil additive exports shrank remarkably to $X in 2021. Overall, exports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 82%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was approx. 92% of total exports in 2021. The following exporters - Saudi Arabia (X tons) and Turkey (X tons) - each amounted to a 6.8% share 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 +15.8% from 2012 to 2021. Turkey (-11.2%) and Saudi Arabia (-14.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+75 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-3.4 p.p.) and Saudi Arabia (-6.3 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest lubricating oil additive supplier in the Middle East, comprising 84% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +16.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-13.8% per year) and Turkey (-8.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, dropping by -22.2% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 18%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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 the Middle East

In 2021, the amount of additives for lubricating oils imported in the Middle East stood at X tons, growing by 5.2% on the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 16% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, lubricating oil additive imports amounted to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the largest importing country with an import of around X tons, which reached 45% of total imports. It was distantly followed by Saudi Arabia (X tons) and Turkey (X tons), together making up a 44% share of total imports. Iran (X tons), Oman (X tons) and Israel (X tons) took a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the additives for lubricating oils imports, with a CAGR of +6.0% from 2012 to 2021. At the same time, Saudi Arabia (+5.3%), Israel (+3.6%) and Turkey (+2.8%) displayed positive paces of growth. By contrast, Oman (-2.3%) and Iran (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Saudi Arabia increased by +9 and +3.4 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 the Middle East were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), with a combined 90% share of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +5.6%, recorded the highest growth rate of 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

The import price in the Middle East stood at $X per ton in 2021, picking up by 6.4% against the previous year. Overall, the import price, however, showed a slight descent. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Turkey ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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