Middle East & Africa Lubricants Market Worth $17.9 Billion by 2019 - Report by MarketsandMarkets

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The Middle East & Africa lubricants market is estimated to be worth of $14.7 billion in 2013 and is projected to reach $17.9 billion by 2019 and is growing with a CAGR of 3.4% between 2014 and 2019. (http://www.marketsandmarkets.com/Market-Reports/middle-east-africa-lubricants-market-241633940.html)

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Major Players in Middle East & Africa Lubricants Market: Chevron Corporation (U.S.), BP plc (U.K.), PetroChina Company Limited (China), Royal Dutch Shell plc (U.K.), Total S.A. (France), Lukoil Oil Company (Russia), ExxonMobil Corporation (U.S.)

The report "Middle East & Africa Lubricants Market" defines the industry segments and provides in-depth analysis of the growth trends and revenue forecasts.

Explore 74 Market Data Tables and 57 Figures spread from beginning to end 145 Pages and in detail TOC on “Middle East & Africa Lubricants Market”.
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The Middle East & Africa lubricants market is estimated to be worth of $14.7 billion in 2013 and is projected to reach $17.9 billion by 2019 and is growing with a CAGR of 3.4% between 2014 and 2019.

The Middle East & Africa lubricants industry accounts for 10% of the lubricants materials market in terms of volume. It is one of the largest markets for lubricants. Lubricant consumption in the Middle East & Africa region is increasing with huge rate of demand from the industrial sector. The transportation and non-transportation sectors both contribute to the growth in the consumption of lubricants.

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Lubricants help in the smooth operations and reduce the wear and tear of machine parts. They also help in reducing the temperature of engines. The need for lubricants has increased because of the development in the automobiles and industrial sector. High-end cars require synthetic lubricants because of the high efficiency it provides to the costly vehicles. Similarly, with the growth in the aviation and marine industry, the demand for high-performance lubricants is also increasing gradually.

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This report essentially aims to estimate the market of lubricants in the Middle East & Africa for 2014 and to project the expected demand of the same by 2019. This market research study provides a detailed qualitative and quantitative analysis of the Middle East & Africa lubricants market. The research methodology of the report involved the utilization of various secondary sources, such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of the market. The primary sources–experts from related industries and suppliers–were interviewed to obtain and verify critical information as well as to assess the future prospects of the Middle East & Africa lubricants market.

The increasing utilization of lubricants by various sectors has led to the growth of the market. The Middle East & Africa Lubricants Market is projected to reach 4,871.0 KT by 2019, at a CAGR of 3.2% between 2014 and 2019.

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Lubricant Additives Market by Function Type and Application - Global Trends & Forecast to 2019
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