“Growth
in the sales of passenger as well as commercial vehicles coupled with increase
in construction activity has led to rising domestic consumption of lubricants
in Ivory Coast.”
Analysts at Ken Research in their latest publication “Ivory
Coast Lubricants Market Outlook to 2023 - By Origin (Mineral, Semi-Synthetic
and Synthetic), By Automotive Lubricants (Heavy Duty Diesel Engine Oils,
Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Transmission Fluids and
Greases) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils,
Turbine Oil, Compressor Oils, Greases, Transformer Oils And Industrial
Greases), By Automotive and Industrial End Users and By Channels of
Distribution” believe that developing industrial lubricants for
construction and mining based applications, improving sales and
promotion/advertising of lubricants and upgrading production equipment with
increased focus on energy efficiency and input-output quality will aid the
lubricants market in the Ivory Coast. The market is expected to register a
positive CAGR of 10.5% in terms of revenue and a CAGR of 6.7% in terms of sales
volume / domestic consumption of lubricants during the forecast period of
2018–2023.
Positive
Developments in the Automotive Industry: Increased vehicle sales have driven the lubricants market by
augmenting demand from the automotive sector, which has the dominant share in
the Ivory Coast lubricants market. The country witnessed an increase in sales
of new passenger cars from 7,624 units in 2013 to 9,796 units in 2017. The
sales of commercial vehicles increased from 2,100 units in 2015 to 2,681 units
in 2017. Furthermore, the MoU agreement between the government of Ivory Coast
and AirBus led to expansion in the aviation industry of the Ivory Coast in
between 2013-2018 which caused high growth in the consumption of the aviation based
automotive lubricants.
Increasing Demand for Synthetic and
Semi-Synthetic Lubricants:
While mineral oil based lubricants account for majority of the demand for
lubricants in Ivory Coast due to their economical price, the demand for
synthetic and semi-synthetic lubes has been rising due to increasing awareness
of their multiple benefits. This includes their physical properties such as
high Viscosity Index (VI), high level of thermal stability, low freezing point,
high boiling point and others, thereby helping to reduce friction between
surfaces of machinery parts and the rate of wear-and-tear. This improves the
productivity, and hence longevity, of machinery/equipment.
Production
of Crude Oil an Influencing Factor: Crude oil production in Ivory Coast increased from 9,191,820 barrels
in 2013 to 10,735,143 barrels in 2015 which increased the production capacity
of the lubricant industry as the production of base oil raised along with the
products getting cheaper for multiple lubricant companies. However, the production
was witnessed to decrease from 15,425,895 barrels in the year 2016 to
12,440,504 barrels in 2017. This created a negative impact on the production volume,
hence leading to a decline in the lubricant market revenues.
Increasing
demand of specialized industrial oils including cutting oils, chain oils, hydraulic oils,
corrosion preventives, cleaners and heat treaters are potential industrial
sub-segments with better prices as well as margins. These lubes are majorly
used by manufacturing sector such as automotives, machinery and metals.
Lubricant manufacturers were observed to enter the market segment and other
players are also expected to enter this space in the near future. Lubricants
help in reducing the downtime due to frequent oil changes, maintenance and
components failures.
Keywords:-
Côte d’Ivoire Lubricants Market
Lubricants Market Ivory Coast
Lubricants Ivory Coast
Motor Oils Market Ivory Coast
Hydraulic Oils Market Ivory Coast
Greases Market Ivory Coast
Gear Oils Market Ivory Coast
Turbine Oils Market Ivory Coast
Ivory Coast Construction Sector
Ivory Coast Manufacturing Sector
Vivo Energy Lubricants Ivory Coast
Total Lubricants Ivory Coast
Petro Ivorie Lubricants Ivory Coast
Lubricant Exports Ivory Coast
Lubricant Imports Ivory Coast
Lubricants Trends Ivory Coast
Lubricants Issues Ivory Coast
Lubricants Challenges Ivory Coast
Ivory Coast Lubricants SWOT
Ivory Coast Lubricants Competition
Ivory Coast Lubricants Future
Key Segments Covered:-
Basis of Origin-
Mineral Oil
Semi-Synthetic Oil
Synthetic Oil
Type-
Automotive Lubricants
Industrial Lubricants
Automotive Lubricant Type:-
Type of Oil-
Passenger
Car Motor Oils
Heavy
Duty Diesel Engine Oils
Hydraulic
Oils
Gear
Oils & Transmission Fluids
Greases
End User-
Passenger vehicles
Commercial vehicles
Marine
Aviation
Distribution Channel-
OEM Workshops / Service Stations / Local Workshops / Retail
Stores
Dealer Network
Industrial Lubricant Type:-
Type of Oil-
Hydraulic Oils
Industrial Gear Oils
Compressor oils
Transformer oils
Turbine Oil
Industrial Greases
End Users-
Power generation, Mining and Quarry
Construction
Manufacturing
Others (General Manufacturing, Textile and Chemicals,
Engineering Equipment, Automotive Sector, Iron and Non-Iron Production, Cement
and Rest)
Distribution Channel-
Direct Sales
Dealer Network
Key Target Audience:-
Automobile Manufacturers
Plastic Manufacturers
Metal Working Companies
Auto And Auto Component Manufacturers
Construction Companies
Textile Companies
Cement Companies
Mining Companies
Paper and Pulp Manufacturers
Power Generation Companies
Steel Manufacturers
Food & Beverage Companies
Time Period Captured in the Report:-
Historical Period – 2012-2018
Forecast Period – 2018-2023
Companies Covered:-
GPP (Group of Petroleum Professionals)
Total
Vivo
Corlay
Libya Oil (Mobil)
Petro Ivorie
Oryx Energies
APCI (Professional Association of Oil companies in Ivory
Coast
Independents and Self Importers
For more information on the research report,
refer to below link:-
All Lubricants Market Research Reports:-
Related
Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
