The UAE lubricants market is expected to see a CAGR of less than 2% during the forecast period. The main factor driving the growth of the market studied is the expanding construction sector in the United Arab Emirates.
New York, November 19, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “UNITED ARAB EMIRATES LUBRICANT MARKET (UAE) – GROWTH, TRENDS AND FORECASTS (2020 – 2025)” – https://www.reportlinker.com/p05865888/?utm_source=GNW
On the other hand, the high price of synthetic lubricants and the increase in oil change intervals are expected to hinder the growth of the market studied.
– Government investments and plans to support industrial growth in the country are likely to provide an important growth opportunity for the market studied during the forecast period.
– The automotive and other transportation segment dominated the market and is expected to continue to dominate during the forecast period.
Main market trends
Increase construction activities to drive demand in the country
– The construction sector in the country has been expanding at a significant pace in recent years. The trend is expected to continue during the forecast period, mainly due to the increasing number of initiatives taken by the government to develop infrastructure and construction, as well as to improve investor confidence in the country’s economy.
– Dubai is expected to be one of the fastest growing cities in the entire Middle East and Africa region as the country is preparing to host Dubai World Expo 2020.
– Furthermore, the construction sector is expected to see considerable growth in Abu Dhabi. This growth is mainly due to the realization of large enterprises in the main cities of the UAE.
– The domestic housing market is dominated by the two main cities of the United Arab Emirates, Dubai and Abu Dhabi. The UAE government has announced its decision to bridge the gap between the supply and demand for housing units. The government has also allocated land in Al Quoz and Muhaisnah (Dubai) for the construction of affordable housing units.
– These above factors are driving demand for the market studied.
The motor oil segment will dominate the market
– Motor oils are widely used to lubricate internal combustion engines in different types of cars. They are generally composed of base oils and additives.
– The base stock is made using petroleum and synthetic chemicals or a mixture of both. The base stock is responsible for lubricating the moving parts in the engine and removing excess accumulated heat. Meanwhile, additives are added to control oil viscosity and oiliness, as well as protect engine parts from wear.
– Various types of additives added in engine oils include oxidation inhibitor additives, dispersant additives, detergent additives, defoamer additives, viscosity index modifiers, antiwear additives, corrosion inhibitor additives and antifreeze additives.
– Some of the main functions offered by engine oils are resistance to corrosion and wear to ensure longer engine life and better performance; reduce friction; increase engine performance; reduce fuel consumption; remove impurities and clean the engine; optimize engine efficiency; and prevent energy loss by providing optimal cooling.
– Due to the persistence of very high temperatures in the UAE, motor oils of a dense nature are widely used. Using thin oils leads to rapid oil depletion and engine damage.
The market studied is consolidated among the top five players. The best companies have used competitive strategies and investments to maintain and expand their shares. Key players include Adnoc, ENOC Company, Total, Royal Dutch Shell PLC and Exxon Mobil Corporation, which account for approximately 70% of the market studied.
Reasons to buy this report:
– The market estimates (ME) sheet in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05865888/?utm_source=GNW
Of Report linker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need, instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001