GURUGRAM, India, October 30, 2018
GURUGRAM, India, October 30, 2018 /PRNewswire/ --
- Growing use of recycled oil will bring a change in market sentiment, and will drive a new wave of growth in lubricant sector
- Increasing use of synthetic lubricants will increase in market revenue
- Introduction of bio-based lubricants in market will change the market scenario
Increasing Demand for Recycled Oil: Improvements in re-refining process, stringent regulation and better realization of oil prices are the major reasons behind growing momentum of use of recycled oil. Production of base oil from refining crude is a costlier process than re-refining of used oil. In addition, lubricants produced by refining used oil are as per standards of international bodies such as API and ACEA. Synthetic lubricants are preferred over mineral based lubricants since they are known to last longer, augment engine and machinery performance. These lubricants are pure as base oil used for their manufacturing is highly refined. UAE is witnessing increasing demand for synthetic lubricants, particularly for luxury car segment cars in which engine are more compatible with these lubricants.
Focus towards Bio Based Lubricants: Environmental norms and rising awareness among OEMs about harmful effects of conventional lubricants is expected to cause the market of bio-based lubricants to expand rapidly which are environment friendly as they have low content of sulphur and phosphorous residues.
Shift towards Non Oil Based Economy: UAE is likely to have a transition from an oil economy to an economy witnessing robust growth in non-oil sectors such as manufacturing and healthcare. The number of pharmaceutical manufacturing establishments is expected to increase owing to agreement between UAE Ministry of Health and global pharmaceutical giant Jafza for establishing pharmaceutical factories in free zones which will increase the demand for lubricants for machinery employed in pharmaceutical factories and also that of medicinal lubricants.
Analysts at Ken Research in their latest publication "UAE Lubricants Market Outlook to 2022 - By Automotive (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Greases and Transmission Fluids) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Greases, Compressor Oils, Turbine Oils and Transformer Oils)" believe that expansion in industrial establishments and pre-owned vehicle market will create a positive impact on UAE lubricant market. The market is expected to register a positive CAGR of 0.8% in terms of production volume during the forecast period 2018-2022E. The market is further expected to be driven by the stabilizing price of crude oil.
Key Segments Covered
- Market Segmentation
- Automotive Lubricant Market Segmentation
- Industrial Lubricant Market Segmentation
Key Target Audience
Time Period Captured in the Report:
Key Topics Covered in the Report
• Executive Summary
• Research Methodology
• Stakeholders in UAE Lubricants Market
• UAE Lubricant Market Overview
• Value Chain Analysis for UAE Lubricants Market
• UAE Lubricants Market Size
• UAE Lubricants Market Segmentation
• UAE Automotive Lubricants Market Segmentation
• UAE Industrial Lubricants Market Segmentation
• Trends and Developments in UAE Lubricants Market
• Snapshot on Emerging Lubricants in UAE Lubricants Market
• Trade of Lubricants in UAE
• Government Role and Regulations in UAE Lubricants Market
• SWOT Analysis of UAE Lubricants Market
• Competitive Scenario in UAE Lubricants Market 2017
• Decision Making Criteria for End Users in UAE Lubricant Market
• Company Profiles of Major Players in UAE Lubricants Market
• UAE Lubricants Market Future Outlook and Projections, 2018E-2022E
• Analyst Recommendation
For more information on the research report, refer to below link:
Thailand Lubricant Market by Type (Mineral, Semi-Synthetic and Synthetic), by Application (Automotive - Passenger, Commercial, Marine and Aviation; Industrial - Mining, Construction, Manufacturing, Iron and Steel, Agriculture, Electricity, Medical) - Outlook to 2022
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Nigeria Lubricants Market Outlook to 2022- By Type of Lubricant (Engine Oil, Industrial Oil, Transmission Oil, Marine Oil, Grease and Specialty Lubricants), Type of Applications (Automotive and Industrial), Region (Lagos, Northern Nigeria, Eastern Nigeria and Western Nigeria)
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Ankur Gupta, Head Marketing