Middle East and Africa Marine Lubricants Market

Middle East and Africa Marine Lubricants Market Size-(2023-2028)

The Middle East and Africa Marine Lubricants Market size were around USD 6.31 billion in 2022. It is expected to grow at 3.2 % CAGR to reach $ 7.8 billion by 2028.

Lubricants are compounds that reduce the friction between any two surfaces in contact. Marine Lubricants are lubricants used in the shipping/marine industry. Marine cylinder lubricant covered the major percentage of the marine lubricants market sales in 2018

Middle East and Africa Marine Lubricants Market Segmentation:

On the basis of type

• Synthetic Oil
• Bio-Based Oil
• Mineral Oil
• Grease
• Others

The kind of lubricant used determines how smoothly the machine functions. Mineral oil, which is extracted from natural petroleum, is majorly used in the marine industry. Grease is more frictional when compared to others, due to its high viscosity. 

Based on the application

• Hydraulic Fluid

• Engine Oil

• Compressor Oil

• Turbine Oil

• Others

Hydraulic Fluid is anticipated to push the marine lubricant market forward towards profits as it is currently in demand. The cylinder oil or engine oil was the major market driver in 2018.

Different kinds of ships have different performance and maintenance costs. Based on the Ship Type the marine lubricant market is segmented into Bulk Carrier Ships, Tanker Ships, Container Ships, and Others. The introduction of idle ships with low maintenance and high performance is suppressing the market growth rate.

Middle East and Africa Marine Lubricants Market geographical analysis:

• Turkey

• Egypt

• Saudi Arabia

• South Africa

• UAE

• Morocco

• Qatar

• Tunisia

Although the Middle East is rich in resources of crude oil and ports, Africa has its contrast. This makes the Middle East and African region to be the second fastest growing market in the world.

Middle East and Africa Marine Lubricants Market key players:

Major companies plying their trade in the Middle East and African Marine Lubricants Market include BP Plc., Royal Dutch Shell Plc., Exxon Mobil Corporation, Chevron Corporation, Sinopec Corporation, Idemitsu Kosan Co. Ltd., PJSC Lukoil, Total S.A, Indian Oil Corporation Ltd., Gulf Oil International, JX Nippon Oil and Energy Corporation, Avin Oil S.A., Fuchs Petrolub Se, HandR GmbH and Co. KGaA, JX Nippon Oil and Energy Corporation, Petronas Lubricants International, Quepet Lubricants, Stanley Group, Unimarine LLC, Vickers Oil, World Fuel Service Corporation, and AMPNI.Royal Dutch Shell Plc., popularly known as Shell, is one of the leading industries in this market.