Middle East: Market for Petroleum Lubricating Oil And Grease 2025

Market Size for Petroleum Lubricating Oil And Grease in the Middle East

The Middle Eastern market for petroleum lubricating oil and grease shrank modestly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption recorded a prominent expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in the Middle East

In value terms, petroleum lubricating oil and grease production shrank to $X in 2022 estimated in export price. In general, production saw a temperate increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports in the Middle East

In 2022, approx. X tons of petroleum lubricating oil and grease were exported in the Middle East; growing by X% against 2021. Overall, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports skyrocketed to $X in 2022. In general, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the largest exporter of petroleum lubricating oil and grease in the Middle East, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Turkey (X tons), constituting a X% share of total exports. Kuwait (X tons) and Saudi Arabia (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to petroleum lubricating oil and grease exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Turkey (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Kuwait lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price 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, petroleum lubricating oil and grease export price increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

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

Imports of Petroleum Lubricating Oil And Grease

Imports in the Middle East

In 2022, the amount of petroleum lubricating oil and grease imported in the Middle East was estimated at X tons, growing by X% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) represented the key importer of petroleum lubricating oil and grease, achieving X% of total imports. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%), Saudi Arabia (X%), Israel (X%) and Iraq (X%). Lebanon (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to petroleum lubricating oil and grease imports into Turkey stood at X%. At the same time, Iraq (X%), Iran (X%) and Israel (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Lebanon (X%), the United Arab Emirates (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Iran (X p.p.), Iraq (X p.p.) and Israel (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and the United Arab Emirates 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, Turkey ($X) constitutes the largest market for imported petroleum lubricating oil and grease in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In Turkey, petroleum lubricating oil and grease imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 an increase of X%. The level of import peaked in 2022 and is expected to retain 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 Israel ($X per ton), while Lebanon ($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.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :