United Arab Emirates: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in the United Arab Emirates

The market for petroleum lubricating oil and grease in the United Arab Emirates soared to $X in 2022, increasing by X% against the previous year. In general, consumption posted a buoyant increase. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in the United Arab Emirates

In value terms, petroleum lubricating oil and grease production expanded modestly to $X in 2022 estimated in export price. Overall, production posted significant growth. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from the United Arab Emirates

In 2022, approx. X tons of petroleum lubricating oil and grease were exported from the United Arab Emirates; which is down by X% compared with the previous year's figure. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, petroleum lubricating oil and grease exports stood at $X in 2022. In general, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

India (X tons) was the main destination for petroleum lubricating oil and grease exports from the United Arab Emirates, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to India exceeded the volume sent to the second major destination, Jordan (X tons), twofold. The third position in this ranking was held by Saudi Arabia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Saudi Arabia (X% per year).

In value terms, the largest markets for petroleum lubricating oil and grease exported from the United Arab Emirates were India ($X), Saudi Arabia ($X) and Oman ($X), together accounting for X% of total exports. Kuwait, Jordan, China, Algeria, Qatar, Turkey, Uzbekistan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, surging by X% against the previous year. In general, export price indicated a moderate 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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into the United Arab Emirates

In 2022, approx. X tons of petroleum lubricating oil and grease were imported into the United Arab Emirates; waning by X% on the year before. In general, imports showed a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports reduced sharply to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value 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, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main suppliers of petroleum lubricating oil and grease imports to the United Arab Emirates, together comprising X% of total imports. The UK, Kuwait, Italy, Belgium, Egypt, India, China, South Korea and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) were the largest petroleum lubricating oil and grease suppliers to the United Arab Emirates, together comprising X% of total imports. The UK, Egypt, Belgium, Italy, India, China, Saudi Arabia, South Korea and Kuwait lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Egypt, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average import price for petroleum lubricating oil and grease amounted to $X per ton, growing by X% against the previous year. Overall, the import price enjoyed a buoyant expansion. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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