
The Middle East finished lubricants market size is projected to reach USD 2.14 billion by 2026 growing at a CAGR of 6.5% during the forecast period, as per a new research report published by Polaris Market Research. The report ‘Middle East Middle East finished lubricants Market Share, Size, Trends, & Industry Analysis Report, [By Type (Metal Working Fluids, Transformer, Gear, Hydraulic & Engine Oils), By Base Oil Source, By Grade, by Application, By End-Use: Segment Forecast, 2018 – 2026’ offers a wide analysis of different types of lubricants in Middle East along with insights related to current and future trends in the market.
Growing demand from end-use industries for several wide range of lubricant types for different functionality is the primary factor driving the market. Metal working fluids have experienced the highest demand in the past two years in the region apart from increasing demand for automotive lubricants.
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Shell Oman Oil Marketing Company has been the leading lubricant brand selling a wide range of finished lubricants in the region in 2017 and till July 2018 as well. The company’s demand driven planning helped it remain ahead of the competition not only in the Middle East but also in the global lubricant market. The company revealed that in order to overcome the increasing complexity in consumer demand, it makes use of inventory buffers in order to break the bullwhip effect in the supply chain.
As per the cross-industry survey from Terra Technologies (E2open), it showed that as the number of finished lubricants sold upsurges, the overall amount sold remains pretty flat in most industries. Hence, as the sales volume of every product goes down, it can be anticipated that forecasting of SKU levels gets more tougher the wider the product portfolio is.
Finished lubricants manufacturers in the region have been very much focused on the base oil grades that are used for formulation of lubricants as industrial consumers have been very specific to their demands for their product characteristics. Grade 2 segment is anticipated to grow at a CAGR of 3.8% from 2018 to 2026 in terms of revenue generated and account for around 36% of expected demand by 2026. Grade 1 lubricants segment is expected to experience a moderate growth over the forecast period.
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Middle East Finished Lubricants Product Outlook (Revenue, USD Million, 2015 – 2026)
- Metalworking fluids
- Transformer Oils
- Gear Oils
- Hydraulic Oils
- Engine Oils
Middle East Finished Lubricants Engine Oils Viscosity Outlook (Revenue, USD Million, 2015 – 2026)
- 0W, 5W, 10W
- 15W, 20W, 25W
Middle East Finished Lubricants Base Oil Grade Outlook (Revenue, USD Million, 2015 – 2026)
- Grade 1
- Grade 2
- Grade 3
- Grade 4 & 5
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