GCC: Lubricant Additives Market 2024

Lubricant Additives Market Size in GCC

The GCC lubricant additives market surged to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption continues to indicate strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in GCC

In value terms, lubricant additives production declined to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lubricant Additives Exports

Exports in GCC

For the fourth consecutive year, GCC recorded growth in shipments abroad of prepared additives for mineral oils, which increased by X% to X tons in 2022. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports surged to $X in 2022. In general, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman represented the largest exporter of prepared additives for mineral oils in GCC, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports.

Oman was also the fastest-growing in terms of the prepared additives for mineral oils exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Oman ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Lubricant Additives Imports

Imports in GCC

In 2022, lubricant additives imports in GCC rose notably to X tons, picking up by X% against the year before. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, lubricant additives imports surged to $X in 2022. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Oman (X tons), mixing up an X% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates, Oman and Kuwait increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported prepared additives for mineral oils in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

In the United Arab Emirates, lubricant additives imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, saw a mild setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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