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Ivory Coast Lubricants Industry

“Growth in the sales of passenger as well as commercial vehicles coupled with increase in construction activity has led to rising domestic consumption of lubricants in Ivory Coast.”

Analysts at Ken Research in their latest publication “Ivory Coast Lubricants Market Outlook to 2023 – By Origin (Mineral, Semi-Synthetic and Synthetic), By Automotive Lubricants (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Transmission Fluids and Greases) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Turbine Oil, Compressor Oils, Greases, Transformer Oils And Industrial Greases), By Automotive and Industrial End Users and By Channels of Distributionbelieve that developing industrial lubricants for construction and mining based applications, improving sales and promotion/advertising of lubricants and upgrading production equipment with increased focus on energy efficiency and input-output quality will aid the lubricants market in the Ivory Coast. The market is expected to register a positive CAGR of 10.5% in terms of revenue and a CAGR of 6.7% in terms of sales volume / domestic consumption of lubricants during the forecast period of 2018–2023.

Positive Developments in the Automotive Industry: Increased vehicle sales have driven the lubricants market by augmenting demand from the automotive sector, which has the dominant share in the Ivory Coast lubricants market. The country witnessed an increase in sales of new passenger cars from 7,624 units in 2013 to 9,796 units in 2017. The sales of commercial vehicles increased from 2,100 units in 2015 to 2,681 units in 2017. Furthermore, the MoU agreement between the government of Ivory Coast and AirBus led to expansion in the aviation industry of the Ivory Coast in between 2013-2018 which caused high growth in the consumption of the aviation based automotive lubricants.

Increasing Demand for Synthetic and Semi-Synthetic Lubricants: While mineral oil based lubricants account for majority of the demand for lubricants in Ivory Coast due to their economical price, the demand for synthetic and semi-synthetic lubes has been rising due to increasing awareness of their multiple benefits. This includes their physical properties such as high Viscosity Index (VI), high level of thermal stability, low freezing point, high boiling point and others, thereby helping to reduce friction between surfaces of machinery parts and the rate of wear-and-tear. This improves the productivity, and hence longevity, of machinery/equipment.

Production of Crude Oil an Influencing Factor: Crude oil production in Ivory Coast increased from 9,191,820 barrels in 2013 to 10,735,143 barrels in 2015 which increased the production capacity of the lubricant industry as the production of base oil raised along with the products getting cheaper for multiple lubricant companies. However, the production was witnessed to decrease from 15,425,895 barrels in the year 2016 to 12,440,504 barrels in 2017. This created a negative impact on the production volume, hence leading to a decline in the lubricant market revenues.

Increasing demand of specialized industrial oils including cutting oils, chain oils, hydraulic oils, corrosion preventives, cleaners and heat treaters are potential industrial sub-segments with better prices as well as margins. These lubes are majorly used by manufacturing sector such as automotives, machinery and metals. Lubricant manufacturers were observed to enter the market segment and other players are also expected to enter this space in the near future. Lubricants help in reducing the downtime due to frequent oil changes, maintenance and components failures.

Keywords:-

Côte d’Ivoire Lubricants Market

Lubricants Market Ivory Coast

Lubricants Ivory Coast

Motor Oils Market Ivory Coast

Hydraulic Oils Market Ivory Coast

Greases Market Ivory Coast

Gear Oils Market Ivory Coast

Turbine Oils Market Ivory Coast

Ivory Coast Construction Sector

Ivory Coast Manufacturing Sector

Vivo Energy Lubricants Ivory Coast

Total Lubricants Ivory Coast

Petro Ivorie Lubricants Ivory Coast

Lubricant Exports Ivory Coast

Lubricant Imports Ivory Coast

Lubricants Trends Ivory Coast

Lubricants Issues Ivory Coast

Lubricants Challenges Ivory Coast

Ivory Coast Lubricants SWOT

Ivory Coast Lubricants Competition

Ivory Coast Lubricants Future

Key Segments Covered:-

Basis of Origin-

Mineral Oil

Semi-Synthetic Oil

Synthetic Oil

Type-

Automotive Lubricants

Industrial Lubricants

Automotive Lubricant Type:-

Type of Oil-

Passenger Car Motor Oils

Heavy Duty Diesel Engine Oils

Hydraulic Oils

Gear Oils & Transmission Fluids

Greases

End User-

Passenger vehicles

Commercial vehicles

Marine

Aviation

Distribution Channel-

OEM Workshops / Service Stations / Local Workshops / Retail Stores

Dealer Network

Industrial Lubricant Type:-

Type of Oil-

Hydraulic Oils

Industrial Gear Oils

Compressor oils

Transformer oils

Turbine Oil

Industrial Greases

End Users-

Power generation, Mining and Quarry

Construction

Manufacturing

Others (General Manufacturing, Textile and Chemicals, Engineering Equipment, Automotive Sector, Iron and Non-Iron Production, Cement and Rest)

Distribution Channel-

Direct Sales

Dealer Network

Key Target Audience:-

Automobile Manufacturers

Plastic Manufacturers

Metal Working Companies

Auto And Auto Component Manufacturers

Construction Companies

Textile Companies

Cement Companies

Mining Companies

Paper and Pulp Manufacturers

Power Generation Companies

Steel Manufacturers

Food & Beverage Companies

Time Period Captured in the Report:-

Historical Period – 2012-2018

Forecast Period – 2018-2023

Companies Covered:-

GPP (Group of Petroleum Professionals)

Total

Vivo

Corlay

Libya Oil (Mobil)

Petro Ivorie

Oryx Energies

APCI (Professional Association of Oil companies in Ivory Coast

Independents and Self Importers

For more information on the research report, refer to below link:-

Ivory Coast Lubricants Market

All Lubricants Market Research Reports:-

Lubricant Industry Research Reports

Related Reports:-

Algeria Lubricants Market Outlook to 2022 – By Automotive (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Greases, Gear Oils and Transmission Fluids) and By Industrial (Hydraulic Oils, Industrial Gear Oils, Turbine Oils, Compressor Oils, Greases and Transformer Oils)

UAE Lubricants Market Outlook to 2022 – By Automotive (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Greases and Transmission Fluids) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Greases, Compressor Oils, Turbine Oils and Transformer Oils)

Nigeria Lubricants Market Outlook to 2022- By Type of Lubricant (Engine Oil, Industrial Oil, Transmission Oil, Marine Oil, Grease and Specialty Lubricants), Type of Applications (Automotive and Industrial), Region (Lagos, Northern Nigeria, Eastern Nigeria and Western Nigeria)Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

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