The Oman Lubricants Market is moderately consolidated, with the top companies occupying major share. The major players in this market are Bardahl, BP Plc (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc. Oman’s Lubricants market is expanding as a result of increasing automotive sales, a rise in research and development in the sector, marketing activities, and also strategic partnerships and collaborations with other players.
Key Findings
- Growth of construction sector, increasing disposable income of the middle-class population, rising private & public investment and with the increasing Governmental support for infrastructural projects have created a strong demand for the Lubricant in Oman.
- For end user applications, construction and commercial vehicles are the dominant segments in the Oman lubricant market.
Oman’s Improving Mining Sector: Mining is one of five industries recognized as long-term growth drivers and contributors to the government’s economic diversification agenda. Oman is home to a variety of mining firms, with a total operational license count of 479 mining licenses present all over the Sultanate of Oman. Mining and quarrying are ancient traditions in Oman. Although there are several quarrying and mining activities in Oman, the Sultanate’s mineral resources remain comparatively unexplored, with huge amounts of metals and industrial minerals waiting to be discovered. The industrial metal and mining industry have to constantly expand its production to maintain growth and stability, with the added pressure of keeping up with industry standards.
Growing Cement Industry in Oman: The country’s apparent cement usage is expected to rise to about eleven million tonnes. This progress will be aided by increased building activity as a result of both private and state investments. Production capacity is expected to increase over the next five years, driven by capacity expansions at current factories and the entry of new market entrants. Construction activity in the nation fell in 2016 and 2017 as a result of the shocks caused by the drop in oil prices. Furthermore, private investors are drawn to Oman because of the simplicity of conducting business and the inexpensive building costs.
Government Support and Initiatives: The government encourages private companies to undertake oil and gas activities in Oman and, as a result of government efforts, blue-chip companies such as BP, Occidental, Shell, Total and Partex are undertaking oil and gas activities in Oman. Shell, Total and Partex have long maintained influential presences in Oman. BP and Occidental Petroleum are also major international oil companies with significant footprints in Oman, and Eni entered the country with an offshore block in 2017. In addition, due to favourable government policies there is a large group of foreign-owned exploration, survey and drilling companies operating in Oman, such as KCA Deutag, Schlumberger, MB Petroleum, Gulf Petrochemical Services and Trading, and Abraj.
Analysts at Ken Research in their latest publication “Oman Lubricants Market Outlook to 2027F” Driven by Growth in Crude Oil Import and Rising Sales of vehicles in the Country” by Ken Research observed the potential of Lubricant Market Outlook in Oman. The rise in industrial sector, along with increase in transportation, industrial and mining services and also increase in heavy duty vehicles, implementation of favourable government rules & regulations is expected to contribute to the market growth over the forecast period. The Oman Lubricant Market is expected to grow at ~% CAGR over the forecasted period 2023-2027F.
Key Segments Covered in the report
Oman Lubricants Market, 2017-2027
- By Type of Lubricant
- Industrial Lubricant
- Automotive Lubricant
- By Grade of Lubricant
- Mineral
- Semi-Synthetic
- Synthetic
Oman Industrial Lubricants Market Segmentations
- By Type of Industrial Lubricant (2022 & 2027)
- Process oil
- Hydraulic oil
- Gear oil
- Grease
- By Type of end use of industrial lubricant (2022 & 2027)
- General manufacturing
- Metal & mining
- Construction
- Power generation
- By Type of distribution channel in industrial lubricant (2022 & 2027)
- Dealers and distributors
- Direct sales
Oman Automotive Lubricants Market Segmentations
- By Type of automotive lubricant (2022 & 2027)
- Heavy duty diesel engine oil
- Motorcycle oil
- Passenger vehicle motor oil
- Grease
- By Type of end use of automotive lubricant (2022 & 2027)
- Commercial vehicles
- Motor cycle
- Passenger cars
- Marine
- Aviation
- By Type of distribution channel in automotive lubricant (2022 & 2027)
- Dealers and distributers network
- OEM workshops and service station
- Online retail
Key Target Audience
- Lubricants Manufacturers
- Lubricants Distributors Refining Companies
- Construction and Mining Industry
- General Manufacturing Industry
- Metal Production Industry Base-oil Companies
- Additive Companies
- Metal Production Industry
- Power Generation Industry
- Food Processing Industry
- Agriculture Industry
- Medical Industry
- Automotive OEMs
- Automotive Dealerships
- Government Agencies
- Consulting and Advisory Firms
Time Period Captured in the Report:
- Historical Period: 2017-2021
- Base Period: 2022
- Forecast Period: 2023-2027F
Companies Covered:
- Oman Oil Marketing Company
- Oil industry company ( OQ)
- Hascol Petroleum
- Oryx Lubes & Greases
- Tek Kazakhstan
- Arte Bunkeringg
- Lotus Oil Oman
- BP
- Occidental
- Shell
- Total
- Partex
Key Topics Covered in the Report
- Country Overview of Oman
- Oman Trade Analysis
- Lubricants Supply and Demand Statistics
- Harvey Ball Analysis of Preferred Lubricants Companies in ASEAN Countries
- Oman Automotive Industry
- Region wise Cars and motorcycles Registration in Oman
- Cross comparison of Southeast Asian Countries on the basis of Number of Motor Vehicles and Sold by Country
- Ecosystem of major Entities in Oman Lubricants Market
- Business Cycle and Genesis of Oman Lubricants Market
- Timeline of major Players in Oman Lubricants Market
- Value Chain Analysis for Oman Lubricants Market
- Oman Automotive & Industrial Lubricants Market Segmentation
- SWOT Analysis for Oman Lubricants Market
- Porter’s Five Forces Analysis of Oman Lubricants Market
- Growth Enablers in Oman Lubricants Market
- Bottlenecks and Challenges in Oman Lubricants Market
- Trends and Developments in Oman Lubricants Market
- Oman Lubricants Market Regulations
- Tax Rates for Lubricants in Oman
- End User Analysis of Oman Lubricants Market
- Pricing Analysis of Automotive and Industrial Lubricants
- Strengths and Weaknesses of the major Industrial & Automotive Lubricant market Players
- Cross Comparison of Major Players in Oman Lubricants Market
- Covid-19 Impact on Oman Lubricant Market
- Future Outlook and market Size for Oman Lubricant Market
- Future Segmentation for Oman Industrial Lubricant Market
- Future Segmentation for Oman Automotive Lubricant Market
- Market Opportunities and Analyst Recommendations
- Analyst Recommendations
- Research Methodology
For more information on the research reports, refer to below link:
Oman Lubricants Market Outlook to 2027F: Ken Research
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