Lubricants are fluids, greases, or oils that decrease the friction amongst two surfaces when they are in mutual contact. Such fluids play an essential role in automotive and industrial applications, as they support deduct friction among the functioning portions. They are also utilized to safeguard the machinery portions from thermal stability, corrosion and oxidation.
Over the period of time, increasing competition amongst the foremost industry leaders is supporting the market growth. Foremost producers are robustly contributing in the worldwide to stay ahead of the competition.
In addition, the worldwide automotive supply industry is seriously impacted by the COVID-19 crisis, as both the introduction and sales of motor vehicles came to a sudden halt in most of the economies. Such function stoppages led to a loss in the introduction of millions of vehicles around the globe. In the short term, a foremost aspect propelling the market studied is the growing requirement for high-performance lubricants due to their better and advanced properties, likewise decreased flammability, decreased gear wear, and augmented services duration.
Whereas, UAE lubricant market is at mature stage. Domestic and international players have supplied to the requirement of lubricants that led to augment in market revenue. Synthetic lubricants which have observed an increase in requirement as they deliver the better protection to engine and machinery and augment engine performance in changing conditions. The growth in exports till the year 2015 was largely accredited to increase in requirement for lubricants from importing countries accompanied by augment in crude oil prices. However, post 2015, the market has significantly declined due to effects of oil slump which led to deduction in the prices of lubricants.
ADNOC and Total are the principal players in UAE Lubricant Market who sold momentous volume of lubricants during 2017. Shell and Caltex were the next principal players in UAE domestic lubricant market. ADNOC has large existence in UAE and it can cater to a great captive audience while total has its own blending plant around UAE owing to which it can supply large capacity of lubricants around UAE. Several small players have taken a sizeable market share during 2017.
Based on end users, construction industry expended maximum number of industrial lubricants which are demanded for lubrication of heavy machinery that is primarily utilized in this industry. Power generation segment which typically demands transformer oils and engine oils is the next greatest consumer of industrial lubricants and manufacturing segment registered for smaller share of lubricant consumption around the country.
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=MTY3NzQ5
Based on application, Heavy duty diesel engine oils and passenger car motor oils registered the market of automotive lubricants during 2017. Augment in sales of new cars and robust growth in pre-owned vehicles market of emerging economies has supported in increasing sales of motor oils. Transmission fluids observed a low market share which is owed to the fact that such oils are substituted after vehicles travel a distance greater than 60,000 miles. Hydraulic oils, gear oils and greases have taken the outstanding market share.
The UAE Lubricants market is projected to augment positively from 2017 to 2022 in terms of production volume. Augment in service station network will reinforce the distribution channel in UAE so as to augment market share of foremost players such as ADNOC. Automotive lubricants will register the market and requirement of synthetic lubricants will augment as these lubricants deliver enhanced engine protection and increase car performance. The share of industrial lubricants is projected to rise in both domestic and export market of lubricants in the wake of mega events such as Expo 2020 which brings great projects such as Healthcare city and Deep tunnel storm water system around country and speedy industrialization in lubricant importing nations.
For More Information, refer to below link:-
UAE Lubricant Market Research Report
Related Reports
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
