Report Update Nov 1, 2024

Saudi Arabia - Petroleum Lubricating Oil and Grease - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Saudi Arabia

The Saudi market for petroleum lubricating oil and grease rose rapidly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Petroleum lubricating oil and grease consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Saudi Arabia

In value terms, petroleum lubricating oil and grease production amounted to $X in 2022 estimated in export price. In general, production enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Petroleum lubricating oil and grease production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Saudi Arabia

In 2022, the amount of petroleum lubricating oil and grease exported from Saudi Arabia declined rapidly to X tons, waning by X% against 2021 figures. Over the period under review, exports continue to indicate a dramatic downturn. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. 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 expanded significantly to $X in 2022. Overall, exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for petroleum lubricating oil and grease exports from Saudi Arabia, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for petroleum lubricating oil and grease exports from Saudi Arabia.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at X%.

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price recorded strong growth. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for Qatar amounted to X% per year.

Imports of Petroleum Lubricating Oil And Grease

Imports into Saudi Arabia

In 2022, petroleum lubricating oil and grease imports into Saudi Arabia declined to X tons, remaining constant against the year before. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports shrank to $X in 2022. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The UK (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Saudi Arabia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the UK ($X), the United States ($X) and Germany ($X) constituted the largest petroleum lubricating oil and grease suppliers to Saudi Arabia, with a combined X% share of total imports.

Among the main suppliers, the UK, with a CAGR of X%, 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 a decline.

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for petroleum lubricating oil and grease in the world?

The country with the largest volume of petroleum lubricating oil and grease consumption was Russia, accounting for 38% of total volume. Moreover, petroleum lubricating oil and grease consumption in Russia exceeded the figures recorded by the second-largest consumer, China, fourfold. The third position in this ranking was occupied by the United States, with a 9.8% share.

What are the largest producers of petroleum lubricating oil and grease in the world?

The country with the largest volume of petroleum lubricating oil and grease production was Russia, comprising approx. 37% of total volume. Moreover, petroleum lubricating oil and grease production in Russia exceeded the figures recorded by the second-largest producer, the United States, fourfold. China ranked third in terms of total production with an 8.7% share.

What are the leading suppliers of petroleum lubricating oil and grease to Saudi Arabia?

In value terms, the largest petroleum lubricating oil and grease suppliers to Saudi Arabia were the United States, Germany and the UK, together comprising 75% of total imports. South Korea, France, Malaysia and India lagged somewhat behind, together accounting for a further 18%.

What are the leading importers of petroleum lubricating oil and grease from Saudi Arabia?

In value terms, the largest markets for petroleum lubricating oil and grease exported from Saudi Arabia were the United Arab Emirates, Iraq and Jordan.

What is the average export price for petroleum lubricating oil and grease in Saudi Arabia?

The average export price for petroleum lubricating oil and grease stood at $1,384 per ton in 2020, rising by 2.3% against the previous year.

What is the average import price for petroleum lubricating oil and grease in Saudi Arabia?

In 2020, the average import price for petroleum lubricating oil and grease amounted to $5,045 per ton, jumping by 23% against the previous year.

This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20594155 - Lubricating preparations containing as basic constituents < .70% by weight of petroleum oils or of oils obtained from bituminous minerals for textiles, leather, hides, furskins and other materials
Prodcom 20594157 - Lubricating preparations obtained from petroleum or bituminous minerals, excluding the ones used for the treatment of textiles, leather, hides, furskins and other materials

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023