SOUTH AFRICA LUBRICANTS MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for lubricants in South Africa, which had a volume of 381.94 million litres in 2021, is anticipated to grow at a CAGR of 3.16% to 446.31 million litres by 2026. The automobile industry, which accounted for around 58% of the nation's total lubricant consumption in 2021, dominated the lubricant market in South Africa. The automobile industry's lubricant consumption increased by a CAGR of 2.39% from 2015 to 2019.

2020 saw a decrease in maintenance demands across many industries as a result of COVID-19 regulations. The largest decrease in lubricant use, at 14.63%, was seen in the Metallurgy & Metalworking segment. The automobile industry experienced the biggest rebound in lubricant consumption in 2021, at 5.26%.
With a CAGR of 3.66% during the years 2022–2027, the end-user industry of power generation is anticipated to have the market's fastest growth, followed by automotive (3.37%). The use of lubricants in the power generation industry is probably being driven by the increased capacity addition and expanding distribution network in the nation.

Major Players: Astron Energy Pty Ltd, BP PLC (Castrol), Engen Petroleum Ltd, Shell plc and TotalEnergies

 

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