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.
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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
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