Qatar Lubricants Market Outlook to 2027

This Report Covers Qatar Lubricants Market, Competition, Trends, Challenges Qatar Lubricants Market, Gulf Qatar Annual Growth, Investment, Major Players

Market Overview:

A rapidly evolving market with immense growth potential Qatar Lubricants market is being driven byconsiderable industrial investments and strong passenger car fleet. The market has a Consolidated scenariowith high prevalence of global lubricant manufacturers alongside small-scale foreign players. It is important to note that there are a handful of domestic players.

The total addressable market for the Qatar Lubricants has been on a rise. With more than 100 lubricants manufacturers present in Qatar, the market is consolidated among major Oil & Gas players, such as Shell, Chevron, etc., with the prime focus on automotive sector. The current lubricants market in Qatar is experiencing stable growth and is expected to witness the same trend in the medium to long term The Qatar LubricantsMarket is with major players in this market are Exxon Mobil, Shell, Castrol & Valvoline.

Qatar Lubricants Market Analysis

• The current lubricants market in Qatar is experiencing stable growth and is expected to witness the same trend in the medium to long term
• Major Oil & Gas refiners are the key manufacturers of Lubricants in Qatar, while the distributors bridge a vital gap between the manufacturers & end-user
• The import-led lubricants market of Qatar has shown recovery from COVID-19, by jumping imports to 93,316 Tons in 2022, a 97% rise since 2020
• Increased demand for ride-hailing platforms led to inflated demand for automotive lubricants; while evident foreign investments in Qatar’s industrial sector has promising prospects for lubes
• Qatar’s affluent populace with a strong appetite of buying luxury and supercars led to notable demand for models, like Toyota Land Cruiser, Lexus LX, Land Rover Defender, Mitsubishi L200, GMC Sierra, etc., requiring specialized synthetic lubricants for use in their engines

Key Trends by Market Segment:

• By Type: Qatar Lubricants Market has been sub-segmented by type into Automotive & Industrial Lubricants. FIFA World Cup 2022 led to quick recovery of automotive sales in 2021 after the Covid halted the functionality, due to massive influx of tourists, which increased rental taxis, and other ride-hailing services. Moreover, Industrial segment rose gradually due to significant investments in industrial sector, particularly in energy, manufacturing, construction, government, etc
• By Grade: The Qatar Lubricants Market has been sub-segmented by grade into, synthetic, semi-synthetic & Mineral. Mineral lubricants are widely used in sectors, such as manufacturing, aviation, automotive (aftermarket), & others. Cost affordability and ease of availability contributed to its significant demand in Qatar. Market is shifting towards synthetic lubricants, particularly in automotive, shipping & transport, aviation, construction, etc

Competitive Landscape:

• With more than 100 lubricants manufacturers present in Qatar, the market is consolidated among major Oil & Gas players, such as Shell, Chevron, etc., with the prime focus on automotive sector
• Players, such as Total, Phillips 66, HPCL, WOQOD, and others have focused mainly on building partnership agreement to expand their sales in Qatar

Foreign players, such as Shell, ExxonMobil, Valvoline, Chevron and ACDelco together held ~48% volume share in 2022 due to their extensive interests in Qatar’s critical Oil & Gas projects.

• Mobil is one of the leading brands in automotive segment providing synthetic oil specially produced for Japanese, European and U.S. car brands
• Jaidah Group, Aamal Trading and Distribution, Teyseer Motors, Mannai Trading Company, etc., are some of the largest authorized distributors of Shell, Total, Mobil, ACDelco, etc., products in Qatar

Recent Developments:

• May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 Bn in 2015 to nearly EUR 35 billion by the end of 2021
• March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company
• January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions

Future Outlook:

• The market will grow at a CAGR of 4.2% during 2022-2027 due to increase in fuel cost & rising customer preference
• Major investments in petrochemicals, manufacturing, & logistics will uplift the need for lubricants in machinery, processing plants & transportation fleets
• Stricter global emission norms & environmental standards for machinery & vehicles to heighten demand for eco-friendly lubricants
• Stable growth in automotive fleet size, use of analytics for predictive maintenance, and increasing demand for synthetic lubricants to cushion the demand for industrial lubricants
• Improving transportation network and growing Ecommerce industry of Qatar is expected to increase average distance travelled by commercial trucks, which would heighten lubricant drain intervals
• Consumers would rely heavily on local workshops & auto parts suppliers, due to the trust in its local service centers.

 

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