Middle East & Africa Base Oil Market Size & Outlook
Middle East & Africa base oil market, 2018-2030 (US$M)
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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 2021 | USD 1,175.0 million |
| Market revenue in 2030 | USD 1,431.9 million |
| Growth rate | 2.2% (CAGR from 2021 to 2030) |
| Largest segment | Group i |
| Fastest growing segment | Group IV |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Group I, Group II, Group III, Group IV, Group V |
| Key market players worldwide | China 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.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Base Oil Market Scope
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
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Our clientele includes a mix of base oil market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
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 outlook size, by country, 2018-2030 (US$M)
Middle East & Africa Base Oil Market Outlook Share, 2021 & 2030 (US$M)
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