The renewable energy industry, a subsegment of the power sector, is emerging as a prominent consumer of industrial greases. Grease is primarily used in turbines and transformers in this industry. In recent years, the increasing demand for renewable energy has led to an upsurge in wind turbine installations worldwide. The IEA states that 830 GW of wind capacity was installed globally as of 2021, of which 93% were onshore systems while 7% were offshore wind farms. Countries across the world are taking initiatives to increase their renewable energy capacities through wind turbine installations.
With several new wind installations, the demand for lubricants such as greases has increased worldwide. Wind turbine lubricants contribute to the reliability of wind farms by ensuring streamlined operations and maintenance. Lubrication is essential at various points in a wind turbine; these include the gearbox, open gear, pitch gear, and pitch bearing. Wind power industry use grease additives such as pressure additives, corrosion inhibitors, and oxidation inhibitors to ensure the enhanced performance. Thus, the rising demand for greases in the wind power industry is likely to favor the growth of the Middle East & Africa grease additives market in the coming years.
Governments of various countries in the Middle East & Africa are focused on developing aviation infrastructure. They are planning to create new routes for new airspace entrants, including unmanned vehicles such as drones and other electric aircraft. On August 14, 2022, the government of Saudi Arabia invested US$ 100 billion in the aviation sector to be able to host at least 300 million passengers and 5 million tons of freight by 2030. Rapid industrialization and growth in disposable income, resulting in an upsurge in the number of passengers opting for air travel, further support the progress of the aviation industry in the Middle East & Africa. According to a report by the International Trade Administration, the UAE government has been investing in various initiatives to support the aerospace industry, thus encouraging partnerships among significant market players and original equipment manufacturers (OEMs). Aviation greases containing additives lubricate critical components and protect them from extreme conditions.
Middle East & Africa grease additives market Segmentation
The Middle East & Africa grease additives market is segmented into type, application, and country.
Based on type, the Middle East & Africa grease additives market is segmented into oxidation inhibitors, corrosion inhibitors, anti-wear agents, pressure additives, metal deactivators, and others. The oxidation inhibitors segment held a larger share of the Middle East & Africa grease additives market in 2022.
Based on application, the Middle East & Africa grease additives market is segmented into automotive, aerospace, marine, mining, steel mill, construction machinery, and others. The automotive segment held the larger share of the Middle East & Africa grease additives market in 2022.
Based on country, the Middle East & Africa grease additives market is segmented into the Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Saudi Arabia dominated the share of the Middle East & Africa grease additives market in 2022.
Key players dominating the Middle East & Africa grease additives market are Afton Chemical Corp; BASF SE; Clariant AG; Croda International plc; Evonik Industries AG; Shamrock Technologies Inc; The Lubrizol Corp; RT Vanderbilt Holding Co Inc; and Lanxess AG; and IPAC In are the leading companies operating in the Middle East & Africa Grease Additives Market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 17.34 Million |
| Market Size by 2028 | US$ 21.91 Million |
| CAGR (2022 - 2028) | 4.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Grease Additives Market is valued at US$ 17.34 Million in 2022, it is projected to reach US$ 21.91 Million by 2028.
As per our report Middle East & Africa Grease Additives Market, the market size is valued at US$ 17.34 Million in 2022, projecting it to reach US$ 21.91 Million by 2028. This translates to a CAGR of approximately 4.0% during the forecast period.
The Middle East & Africa Grease Additives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Grease Additives Market report:
The Middle East & Africa Grease Additives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Grease Additives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Grease Additives Market value chain can benefit from the information contained in a comprehensive market report.
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