Middle East & Africa Greases Market Size & Outlook
Middle East & Africa greases market, 2018-2030 (US$M)
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MEA greases market highlights
- The MEA greases market generated a revenue of USD 339.6 million in 2023.
- The market is expected to grow at a CAGR of 2.6% from 2024 to 2030.
- In terms of segment, mineral was the largest revenue generating form in 2023.
- Mineral is the most lucrative form segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 339.6 million |
| Market revenue in 2030 | USD 407.3 million |
| Growth rate | 2.6% (CAGR from 2023 to 2030) |
| Largest segment | Mineral |
| Fastest growing segment | Mineral |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mineral, Synthetic, Bio-based |
| Key market players worldwide | Nycon, Battenfeld-Grease & Oil Corporation of New York, RichardsApex Inc., Lubriplate Lubricants Co., GB Lubricants, Eastern Oil, JAX INC., D-A Lubricant Company, Xaerus Performance Fluids, Moroil Technologies, Industrial Oils Unlimited, LLC, Primrose Oil Company, Cadillac Oil, Condat, COGELSA, Interflon |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.8% of the global greases market in 2023.
- 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 3,096.9 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Greases Market Scope
Greases Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa greases 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 greases market will help companies and investors design strategic landscapes.
Mineral was the largest segment with a revenue share of 61.72% in 2023. Horizon Databook has segmented the Middle East & Africa greases market based on mineral, synthetic, bio-based covering the revenue growth of each sub-segment from 2018 to 2030.
According to the IMF, the GDP of the Middle East witnessed a growth rate of 4% in 2023 owing to the improvement in oil pricing. The greases market is likely to be driven by the expanding oil & gas industry and increasing construction expenditure in the region.
Greases find application in heavy machinery used in metal miming, gas exploration, and oil extraction activities. Thus, the growing demand for oil and gas is expected to increase the consumption of greases in the Middle East.
The Middle East oil & gas industry has been witnessing a major shift in recent years with the rising investment in a diverse range of projects, including technical offshore and LNG projects.
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Our clientele includes a mix of greases market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa greases market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa greases market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA greases market size, by country, 2018-2030 (US$M)
Middle East & Africa Greases Market Share, 2023 & 2030 (US$M)
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