Bio-Based Lubricants, Government Initiatives, Foreign investments and Rapid Growth in Construction Sector are expected to provide a boost to the Oman Lubricant Market: Ken Research

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.

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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

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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

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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:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/oman-lubricants-market-outlook-to-2027/596265-100.html

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