Industrial Lubricants Lead with $1.32B Market Size in 2024
The Saudi Lubricants market growth reached a valuation of USD 1.32 billion in 2024, driven by surging demand across industrial and automotive sectors. As the Kingdom continues to diversify its economy under Vision 2030, the need for high-performance lubricants in manufacturing, construction, and mining has intensified. Industrial lubricants emerged as the largest revenue-generating segment in 2023, reflecting the country’s growing reliance on machinery and heavy-duty equipment.
Lubricants play a vital role in minimizing friction, reducing wear, and enhancing the efficiency of mechanical systems. From hydraulic oils in construction equipment to greases in factory bearings, these substances are essential for operational reliability and cost-effective maintenance.
Aerospace Lubricants Set to Outpace with Fastest CAGR Through 2033
While industrial lubricants dominate in volume, the aerospace segment is projected to register the fastest growth rate during 2025–2033. This surge is attributed to Saudi Arabia’s increasing investment in aviation infrastructure and defense capabilities. High-performance lubricants tailored for extreme conditions—such as synthetic oils and dry lubricants—are gaining traction in aerospace applications, where reliability and thermal stability are critical.
This diversification into high-value segments signals a shift in the Saudi lubricants market growth narrative, from volume-driven demand to specialized, performance-oriented solutions.
Market to Reach $1.69B by 2033 at 2.83% CAGR
Looking ahead, the Saudi lubricants market is expected to grow at a compound annual growth rate (CAGR) of 2.83%, reaching USD 1.69 billion by 2033. This steady growth is underpinned by the expanding vehicle fleet, rising industrial output, and increasing consumer awareness of preventive maintenance.
Moreover, the push for energy efficiency and emission reduction is prompting lubricant manufacturers to innovate. Low-viscosity, eco-friendly formulations are gaining popularity, aligning with global sustainability goals and local regulatory frameworks.
Saudi Arabia to Lead Middle East & Africa Lubricants Market by 2030
Saudi Arabia is poised to become the fastest-growing lubricants market in the Middle East & Africa region by 2030. In 2023, the Kingdom accounted for 0.8% of the global lubricants market, a figure expected to rise as regional demand consolidates. With China projected to lead globally by 2030, Saudi Arabia’s strategic position as a regional hub offers significant export potential.
The country’s infrastructure boom, coupled with its role as a logistics and industrial gateway, positions it as a key player in the regional lubricants landscape.
Oil Price Volatility Slows M&A, But Long-Term Outlook Remains Strong
Despite the positive trajectory, recent oil price declines—from over $80 to $67 per barrel—have prompted major players like Saudi Aramco to reassess their global expansion strategies. The company, which previously acquired stakes in Valvoline and other lubricant ventures, is now prioritizing efficiency and dividend stability over aggressive M&A.
This recalibration, however, does not dampen the long-term outlook for Saudi lubricants market growth. As the market matures, focus is shifting toward innovation, integration, and value-added services that enhance customer retention and operational performance.
