Saudi Arabia Greases Market Size & Outlook, 2023-2030
Saudi Arabia greases market, 2018-2030 (US$M)
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Saudi Arabia greases market highlights
- The Saudi Arabia greases market generated a revenue of USD 87.7 million in 2023 and is expected to reach USD 105.6 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 2.7% 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.
Greases market data book summary
| Market revenue in 2023 | USD 87.7 million |
| Market revenue in 2030 | USD 105.6 million |
| Growth rate | 2.7% (CAGR from 2023 to 2030) |
| Largest segment | Mineral |
| Fastest growing segment | Mineral |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 1.5% of the global greases market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa greases market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 161.6 million by 2030.
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Greases Market Scope
Greases Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 61.46% in 2023. Horizon Databook has segmented the Saudi Arabia greases market based on mineral, synthetic, bio-based covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for greases in Saudi Arabia has been experiencing a significant rise due to several factors. Firstly, the country's construction sector has witnessed substantial growth, driven by mega projects such as the Red Sea Project and the Qiddiya entertainment city.
These developments have increased the need for greases used in construction machinery. Mega construction projects and oil refining facilities are major end users of greases in the country. Several infrastructure projects have been sanctioned by the Saudi government, further developing the infrastructure sector in the country.
In November 2023, Saudi Arabia’s mega project, NEOM, proclaimed to upscale the coastal destination in northwest Saudi Arabia by unveiling two futuristic skyscrapers with approximate heights of 225 meters and 275 meters, housing a premium of 41 hotels, 14 suites, and apartments.
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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 country-level data and insights on the Saudi Arabia greases market, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia greases market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia greases market size, by form, 2018-2030 (US$M)
Saudi Arabia Greases Market Share, 2023 & 2030 (US$M)
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