MENA's Lubricating Oils Additives Market to Grow at +1.2% CAGR, Reaching div.2B by 2035

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IndexBox has just published a new report: MENA - Additives For Lubricating Oils - Market Analysis, Forecast, Size, Trends And Insights.

The MENA market for additives in lubricating oils is expected to experience a positive trend in consumption, with forecasts showing growth in market volume to 523K tons by 2035. Additionally, market value is projected to reach $2.2B by the end of 2035, driven by an anticipated CAGR of +2.2%. While market performance is expected to decelerate slightly, the overall outlook remains favorable for the industry in the coming years.

Market Forecast

Driven by increasing demand for additives for lubricating oils in MENA, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market volume to 523K tons by the end of 2035.

In value , the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2024 to 2035, which is projected to bring the market value to $2.2B (in nominal wholesale prices) by the end of 2035.

Consumption

MENA's Consumption of Additives For Lubricating Oils

In 2024, consumption of additives for lubricating oils in MENA expanded rapidly to 460K tons, surging by 5.5% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +3.5% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of consumption peaked at 481K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The size of the lubricating oil additive market in MENA expanded significantly to $1.7B in 2024, growing by 5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a notable increase from 2013 to 2024: its value increased at an average annual rate of +4.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -5.6% against 2022 indices. The level of consumption peaked at $1.9B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Consumption By Country

Saudi Arabia (48K tons) ranked third in of total consumption with a 10% share.

In Turkey, lubricating oil additive consumption expanded at an average annual rate of +2.3% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United Arab Emirates (+7.4% per year) and Saudi Arabia (+5.2% per year).

In value , Turkey ($860M) led the market, alone. The second position in the ranking was held by the United Arab Emirates ($293M). It was followed by Saudi Arabia.

In Turkey, the lubricating oil additive market increased at an average annual rate of +4.8% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: the United Arab Emirates (+8.2% per year) and Saudi Arabia (+4.1% per year).

In 2024, the highest levels of lubricating oil additive per capita consumption was ed in the United Arab Emirates (8.4 kg per person), followed by Kuwait (2.1 kg per person), while the world average per capita consumption of lubricating oil additive was estimated at 0.8 kg per person.

From 2013 to 2024, the average annual growth rate of the lubricating oil additive per capita consumption in the United Arab Emirates totaled +6.4%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Oman (+2.7% per year) and Turkey (+1.1% per year).

Production

MENA's Production of Additives For Lubricating Oils

Lubricating oil additive production reduced modestly to 189K tons in 2024, standing approx. at the previous year's figure. The total output volume increased at an average annual rate of +2.1% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9.7%. The volume of production peaked at 199K tons in 2021; however, from 2022 to 2024, production remained at a lower figure.

In value , lubricating oil additive production expanded notably to $747M in 2024 estimated in export price. The total production indicated resilient growth from 2013 to 2024: its value increased at an average annual rate of +5.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -15.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 25% against the previous year. Over the period under review, production reached the peak level at $884M in 2020; however, from 2021 to 2024, production failed to regain momentum.

Production By Country

Turkey (160K tons) constituted the country with the largest volume of lubricating oil additive production, ing for 85% of total volume. Moreover, lubricating oil additive production in Turkey exceeded the figures recorded by the second-largest producer, Oman (16K tons), tenfold. Kuwait (8.5K tons) ranked third in of total production with a 4.5% share.

From 2013 to 2024, the average annual growth rate of volume in Turkey totaled +1.8%. The remaining producing countries recorded the following average annual rates of production growth: Oman (+1.7% per year) and Kuwait (+12.7% per year).

Imports

MENA's Imports of Additives For Lubricating Oils

In 2024, approx. 300K tons of additives for lubricating oils were imported in MENA; surging by 12% on the previous year. The total import volume increased at an average annual rate of +3.0% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 12%. The volume of import peaked at 342K tons in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In value , lubricating oil additive imports rose modestly to $1.2B in 2024. Total imports indicated tangible growth from 2013 to 2024: its value increased at an average annual rate of +3.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -9.7% against 2022 indices. The pace of growth was the most pronounced in 2022 when imports increased by 31% against the previous year. As a result, imports attained the peak of $1.3B. From 2023 to 2024, the growth of imports failed to regain momentum.

Imports By Country

In 2024, the United Arab Emirates (111K tons) represented the key importer of additives for lubricating oils, comprising 37% of total imports. Turkey (57K tons) held the second position in the ranking, followed by Saudi Arabia (49K tons), Morocco (5.4K tons) - each recorded a 4.2% share of total imports.

From 2013 to 2024, the biggest increases were recorded for Iran (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value , the largest lubricating oil additive importing markets in MENA were the United Arab Emirates ($395M), Turkey ($255M) and Saudi Arabia ($162M), with a combined 69% share of total imports. Egypt, Iran, Algeria and Morocco lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Iran, with a CAGR of +10.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the import price in MENA amounted to $3,906 per ton, with a decrease of -7.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by 21%. The level of import peaked at $4,231 per ton in 2023, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($4,918 per ton), while Saudi Arabia ($3,264 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in of prices was attained by Morocco (+1.9%), while the other leaders experienced more modest paces of growth.

Exports

MENA's Exports of Additives For Lubricating Oils

In 2024, approx. 30K tons of additives for lubricating oils were exported in MENA; picking up by 39% compared with the previous year. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. The volume of export peaked at 50K tons in 2020; however, from 2021 to 2024, the exports failed to regain momentum.

In value , lubricating oil additive exports skyrocketed to $109M in 2024. Overall, exports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 104%. As a result, the exports attained the peak of $188M. From 2019 to 2024, the growth of the exports remained at a somewhat lower figure.

Exports By Country

The United Arab Emirates dominates exports structure, reaching 25K tons, which was near 85% of total exports in 2024. Turkey (2.1K tons) ranks second in of the total exports with a 7.1% share, followed by Saudi Arabia (6.6%).

From 2013 to 2024, average annual rates of growth with regard to lubricating oil additive exports from the United Arab Emirates stood at -2.5%. Turkey and Saudi Arabia experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+18 p.p.), Turkey (+3.2 p.p.) and Saudi Arabia (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value , the United Arab Emirates ($97M) remains the largest lubricating oil additive supplier in MENA, comprising 90% of total exports. The second position in the ranking was taken by Turkey ($9.6M), with an 8.8% share of total exports.

In the United Arab Emirates, lubricating oil additive exports shrank by an average annual rate of -3.4% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Turkey (+11.4% per year) and Saudi Arabia (-15.0% per year).

Export Prices By Country

In 2024, the export price in MENA amounted to $3,688 per ton, rising by 43% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 49% against the previous year. As a result, the export price attained the peak level of $4,065 per ton. From 2019 to 2024, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Turkey ($4,569 per ton), while Saudi Arabia ($435 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in of prices was attained by Turkey (+10.6%), while the other leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform