Analysis of Mineral Oil Additives and Middle East Lubricant Trends
The mineral oil additives market in the Middle East is thriving, fueled by escalating demands across industrial and automotive sectors. As part of broader Middle East lubricant trends, this niche market is projected to grow with a compound annual growth rate (CAGR) of 3.7% in volume and 3.8% in value, reaching 584K tons and $2.3 billion by 2035. These figures highlight the importance of prepared additives in optimizing lubricant performance and aligning with the region’s industrial growth.
Regional Consumption Trends
In 2024, consumption of prepared additives for mineral oils reached 390K tons, marking the fourth consecutive year of growth. Oman, the United Arab Emirates (UAE), and Turkey dominated the market, contributing 64% of the total consumption. Oman, in particular, showcased stellar growth with a CAGR of 31.9%, translating to a per capita consumption of 18 kg—vastly exceeding the regional and global averages.
On the value side, the market recorded $1.5 billion in revenues, reflecting the robust demand for mineral oil additives as a cornerstone of Middle East lubricant trends.
Production Landscape
Production within the Middle East surged by 34% in 2024, with Oman contributing 83% of the region’s total output. The production volume of mineral oil additives hit 109K tons, underscoring Oman’s role as the production powerhouse. While fluctuations in yearly output occurred, technological advancements and strategic investments promise to stabilize growth and bolster the region’s production capacity.
Import and Export Dynamics
Despite strong local production, imports of prepared mineral oil additives totaled 335K tons in 2024. The UAE was the largest importer, representing 37% of the total, followed by Turkey and Saudi Arabia. Import prices ranged significantly, with Oman recording the highest price at $5,362 per ton, highlighting the preference for high-quality additives.
Exports, on the other hand, surged by 86% to reach 54K tons, with the UAE dominating at 65% of total export volumes. While export prices declined by 24.1%, countries like Kuwait showed impressive growth in both volume and value, reflecting their increasing presence in the global market.
Projections and Opportunities
Mineral oil additives are set to remain a focal point in the Middle East lubricant trends, supported by industrial expansion and automotive advancements. By 2035, the market is anticipated to reach $2.3 billion in value, presenting significant opportunities for stakeholders to innovate formulations and adopt sustainable practices. Countries like Oman and the UAE continue to lead the charge, bolstering the region’s position as a global hub for mineral oil additives.
Also Read: Eco-Friendly Lubricants Drive 6% CAGR Growth in the Middle East
