Market Size of Jordan Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 32.71 Million liters |
| Market Volume (2029) | 36.46 Million liters |
| CAGR (2024 - 2029) | 2.19 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Jordan Lubricants Market Analysis
The Jordan Lubricants Market size is estimated at 32.71 Million liters in 2024, and is expected to reach 36.46 Million liters by 2029, growing at a CAGR of 2.19% during the forecast period (2024-2029).
- Over the short term, the surging vehicle population and robust growth of investments in the power generation sector are the major factors driving the demand in the market studied.
- However, the higher cost of lubricant products and political and economic instability in the country are likely to hinder market growth.
- Nevertheless, the growing adoption of bio-based lubricants and the development of low-viscosity lubricants are expected to create new market opportunities.
- The automotive and other transportation segment is expected to account for the largest end-user industry of the market studied while registering rapid growth over the forecast period.
Jordan Lubricants Industry
A lubricant is a fluidic material that reduces friction between surfaces in contact and energy loss caused by friction. It can also be handy in cleaning, cooling, and protecting metal parts from corrosion, rust, and other challenges that a vehicle, machine, or equipment faces during operation.
The Jordan lubricants market is segmented by product type and end-user industry. By product type, the market is segmented into engine oil, transmission and hydraulic fluid, general industrial oil, gear oil, grease, and other product types. By end-user industry, the market is segmented into power generation, automotive and transportation, heavy equipment, and other end-user industries. For each segment, the market sizing and forecasts were made on the basis of volume (million liters).
| By Product Type | |
| Engine Oil | |
| Transmission and Hydraulic Fluid | |
| General Industrial Oil | |
| Gear Oil | |
| Grease | |
| Other Product Types |
| By End-user Industry | |
| Power Generation | |
| Automotive and Transportation | |
| Heavy Equipment | |
| Other End-user Industries |
Jordan Lubricants Market Size Summary
The Jordan lubricants market is poised for modest growth, driven primarily by a positive outlook in the automotive sector. The engine oil segment holds a dominant position within the market, benefiting from its essential role in lubricating internal combustion engines and enhancing their performance through wear reduction and corrosion protection. The increasing average age of vehicles and the growing urban population in Jordan are key factors expected to bolster the demand for engine oils. However, technological advancements and extended oil change intervals pose challenges to volume consumption in this segment. Despite these challenges, the anticipated recovery of the economy and moderate growth in automotive sales are expected to support the engine oil market's expansion over the forecast period.
The market landscape is influenced by government initiatives aimed at promoting electric vehicles, which are expected to positively impact the Jordanian economy and stimulate lubricant demand. The reduction of taxes on electric cars is a strategic move to encourage their adoption, potentially affecting the lubricant market dynamics. The Jordan lubricants market is predominantly controlled by a few key players, including Qais Al Rawi & Sons Company, Jordan Petroleum Refinery Company Limited, and Jordan National Lube Oil Company, which collectively hold significant blending capacity. These companies, along with international entities like Total and Royal Dutch Shell PLC, play a crucial role in shaping the market's competitive environment.
Jordan Lubricants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Surging Vehicle Population to Drive the Demand for Lubricants
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1.1.2 Robust Growth of Investments in the Power Generation Sector
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Higher Cost of Lubricant Products
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1.2.2 Political and Economic Instability in the Country
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1.2.3 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Engine Oil
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2.1.2 Transmission and Hydraulic Fluid
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2.1.3 General Industrial Oil
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2.1.4 Gear Oil
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2.1.5 Grease
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2.1.6 Other Product Types
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2.2 By End-user Industry
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2.2.1 Power Generation
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2.2.2 Automotive and Transportation
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2.2.3 Heavy Equipment
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2.2.4 Other End-user Industries
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Jordan Lubricants Market Size FAQs
How big is the Jordan Lubricants Market?
The Jordan Lubricants Market size is expected to reach 32.71 million liters in 2024 and grow at a CAGR of 2.19% to reach 36.46 million liters by 2029.
What is the current Jordan Lubricants Market size?
In 2024, the Jordan Lubricants Market size is expected to reach 32.71 million liters.
