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Africa engine oil market growth will be driven by rising in automobile sales industries by 2023

Author : Ronak Bora | Published Date : 2019-03-15 

Africa engine oil market increase in automobile sales, particularly in South Africa, Morocco, Algeria and Egypt coupled with increase in consumer spending capacity is likely to drive Africa engine oils market growth. Regional automobile sales were estimated at over 1.6 million units in 2013 with over 21 million units of passenger car operating in the region.

Africa engine oil market size was estimated at over 2 million tons in 2015. Africa lubricant market size witnessed an increase of 1.1% of total consumption in 2014. Automotive engine oil market was the leading application segment and accounted for over 50% of the total volume in 2014. Industrial engine oil market size was estimated at over 1 million tons in 2014 and is likely to witness an increase in demand owing to growth in end-used industries such as steel, mining, construction and cement.

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Egypt engine oil market accounted for more than 20% of the total regional volume in 2014. Nigeria engine oil market is likely to be the most lucrative over the forecast period and accounted for more than 8% of the regional demand in 2014.

Investments in transportation projects worth USD 500 billion are planned in the region which is expected to pave way for automobile industry growth over the forecast period. South Africa was the leading automobile regional market with estimated sales at over 650 thousand units. Automotive engine oil prices remained a key factor for consumer purchase decisions coupled with other factors such as branding, after sales service, spare part distributors and motor mechanic service centers.

The Africa engine oil market is fragmented with few countries such as Egypt, South Africa, Nigeria, Algeria, Sudan and Morocco accounting for over to 70% of the total volume in 2014. Increasing economic development in Egypt and Nigeria is likely to spur engine oil demand in the region. Egypt & Nigeria are the two most populous countries in the region which is characterized by economic growth driven by rapid industrialization. This factor is likely to support growth in middle-class consumer spending capacity and thus drive lubricant demand in the region.

Africa engine oil industry is likely to grow owing to availability of high performance raw materials such as group II and group III base stocks. These base stock plants are lacking in the region and are very crucial to establish type II and type III based stock plants to tap potential market. Base oil regional production accounts to more than 52% of the total demand, close to 20% is fulfilled via recycled base and the rest is met through imports. Low grade lubricants such as API CC/CDs & CFs are widely used in the region although demand for high quality base oils is gradually starting to take pace.

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South Africa engine oil market share is highly deregulated in the region with presence of multinational companies such as Chevron, Castrol and Shell. The country has more than ten blending plants and major petrochemical companies present here obtain lubricants from share or wholly owned lube blending units. BP and Shell own a lube blending unit located at Durban whereas Engen owns a wholly owned unit at the same location. The current lube blending capacity in the country exceeds the domestic lubricants demand

South Africa lubricant market size accounted for more than 17% of the total volume in 2014. Industrial applications dominated the regional demand with more than 45% of the share in 2014. Automotive applications accounted for more than 40% of the total volume in 2014 and rest was accounted by applications such as aviation and marine.

In South Africa, about 10% to 15% of the base oil deficit is obtained from re-refined sector developed through sanctions to conserve petroleum products which restrict the disposal or burning of used lubes. Oikol, anon-profit organization, is responsible for used collecting used from service stations & industrial areas and then transports to storage depots in the region which is then supplied to Chemico for re-refining.

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Africa engine oil market share is moderately consolidated with major industry participants such as Chevron, Shell, Total, Castrol and Engen. Other important companies include Conoil Plc, ExxonMobil, Oando Plc and Forte. 

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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