Middle East: Lubricant Additives Market 2024

Lubricant Additives Market Size in the Middle East

The Middle Eastern lubricant additives market rose to $X in 2021, increasing by 1.7% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Lubricant Additives Production in the Middle East

In value terms, lubricant additives production stood at $X in 2021 estimated in export price. In general, production, however, showed a dramatic decline. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lubricant Additives Exports

Exports in the Middle East

In 2021, shipments abroad of prepared additives for mineral oils increased by 13% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 56%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, lubricant additives exports dropped to $X in 2021. In general, exports, however, showed a mild downturn. The growth pace was the most rapid in 2015 with an increase of 119%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the main exporter of prepared additives for mineral oils in the Middle East, with the volume of exports reaching X tons, which was approx. 66% of total exports in 2021. Oman (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (8.3%). Turkey (X tons) took a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the prepared additives for mineral oils exports, with a CAGR of +9.8% from 2012 to 2021. Saudi Arabia experienced a relatively flat trend pattern. Turkey (-6.6%) and Oman (-9.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+38 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-3.1 p.p.) and Oman (-26.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest lubricant additives supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by Oman ($X), with a 15% share of total exports. It was followed by Turkey, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +10.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (-13.1% per year) and Turkey (-5.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, dropping by -23.2% against the previous year. Overall, the export price recorded a mild decrease. The pace of growth was the most pronounced in 2015 an increase of 43%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, 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 Turkey ($X per ton), while Saudi Arabia ($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 (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Lubricant Additives Imports

Imports in the Middle East

In 2021, the amount of prepared additives for mineral oils imported in the Middle East contracted modestly to X tons, shrinking by -2.7% against the year before. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 19%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lubricant additives imports expanded rapidly to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Turkey (X tons) and Iraq (X tons) were the largest importers of prepared additives for mineral oils, together committing 86% of total imports. Iran (X tons), Oman (X tons) and Israel (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +4.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 80% of total imports. Iraq, Iran, Oman and Israel lagged somewhat behind, together accounting for a further 15%.

Among the main importing countries, Iraq, with a CAGR of +6.0%, saw 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, growing by 8% against the previous year. Over the period under review, the import price, however, showed a slight decrease. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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