Middle East & Africa Base Oil Market Size & Outlook

The base oil market in Middle East & Africa is expected to reach a projected revenue of US$ 1,431.9 million by 2030. A compound annual growth rate of 2.2% is expected of Middle East & Africa base oil market from 2022 to 2030.
Revenue, 2021 (US$M)
$1,175.0
Forecast, 2030 (US$M)
$1,431.9
CAGR, 2022 - 2030
2.2%
Report Coverage
Middle East & Africa

MEA base oil market highlights

  • The MEA base oil market generated a revenue of USD 1,175.0 million in 2021.
  • The market is expected to grow at a CAGR of 2.2% from 2022 to 2030.
  • In terms of segment, group i was the largest revenue generating product in 2021.
  • Group IV is the most lucrative product segment registering the fastest growth during the forecast period.
  • Country-wise, South Africa is expected to register the highest CAGR from 2022 to 2030.


MEA data book summary

Market revenue in 2021USD 1,175.0 million
Market revenue in 2030USD 1,431.9 million
Growth rate2.2% (CAGR from 2021 to 2030)
Largest segmentGroup i
Fastest growing segmentGroup IV
Historical data covered2018 - 2020
Base year for estimation2021
Forecast period covered2022 - 2030
Quantitative unitsRevenue in USD million
Market segmentationGroup I, Group II, Group III, Group IV, Group V
Key market players worldwideChina Petroleum & Chemical Corp Class H, Petronas Chemicals Group Bhd, PetroChina Co Ltd Class H, Exxon Mobil Corp, Chevron Corp, Shell PLC, BP PLC, The Goldman Sachs Group Inc, Nestle SA, Repsol SA


Other key industry trends

  • In terms of revenue, MEA region accounted for 5.8% of the global base oil market in 2021.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 15,689.6 million by 2030.

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Base Oil Market Scope

Base oil market segmentation & scope
Group I
Group II
Group III
Group IV
Group V
Automotive Oils
Process Oils
Hydraulic Oils
Metalworking Fluids
Industrial Oils
Others

Base Oil Market Companies

Name Profile # Employees HQ Website

Middle East & Africa base oil market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to base oil market will help companies and investors design strategic landscapes.


Group i was the largest segment with a revenue share of 41.37% in 2021. Horizon Databook has segmented the Middle East & Africa base oil market based on group i, group ii, group iii, group iv, group v covering the revenue growth of each sub-segment from 2018 to 2030.


The demand for base oils in the Middle East & Africa is primarily driven by major sectors such as petroleum, mining, agriculture, and industrial manufacturing & processing. Heavy investments have provided an impetus for oil & gas exploration in the region, and this ensures a high consumption of lubricants, thereby supporting the base oil market growth.

In addition, mining activities in Africa are expected to boost the consumption of base oils in the region. Total S.A. (France), a manufacturer of the brand ELF, is one of the leading suppliers of industrial oils to the Arabian Gulf and Qatar. These industrial oils are used in construction, machinery, and oil & gas industries.

The Middle East & Africa is major source of oil & gas, due to which there is an abundant supply of mineral oil in the region. Therefore, high consumption of Group I and Group II base oils is anticipated compared to other base oil groups. Another key factor for the high consumption of mineral oils in the region is the price differentiation between base oil groups, as mineral oil-based base oils (Group I and Group II) are much cheaper compared to other types.

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Target buyers of Middle East & Africa base oil market databook

  • Our clientele includes a mix of base oil market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa base oil market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa base oil market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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MEA base oil market size, by country, 2018-2030 (US$M)

Middle East & Africa Base Oil Market Outlook Share, 2021 & 2030 (US$M)

MEA base oil market size, by country, 2018-2030 (US$M)

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