Forex, Base Oil Prices Beset Nigerian Lubricant Market By Our Reporter Stakeholders have identified instability in the foreign exchange market and rising base oils prices on the international market as headwinds buffeting the Nigerian lubricant market. Taiye Williams, managing director of Lubcon International emphasised that the major challenges confronting the Nigerian lubricant market are issues
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The Russian-Ukrainean war is causing an upset to the supply of base oils in the Nigerian lubricant market, stakeholders told BND. According to Nigerian lubricant blenders, the war between Russia and Ukraine has led to the opening of shipping routes in the global North, especially the US, Europe, the Middle East, and Kazakhstan. “The Russian-Ukrainian
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Accounting for approximately 8% of the global finished lubricant demand, Africa and the Middle East is a region ripe for growth. The region is forecast to grow at a modest compound annual growth rate (CAGR) of 3% until 2019. Infrastructure and a modernizing vehicle parc will play a role in altering the landscape for finished
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Higher commodity prices, propelled upwards by war in Ukraine, will have a significant economic impact on the region.
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Africa Automotive Engine Oils Market Analysis The Africa Automotive Engine Oils Market stood at 1.02 billion liters in 2021 and is projected to register a CAGR of 4.07% to reach 1.24 billion liters in 2026. Largest Segment by Vehicle Type – Commercial Vehicles : Due to the large average engine oil capacity of heavy-duty trucks, pickup trucks,
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informative platform that covers a wide range of topics, including news and lubricants market reports in Africa, the Middle East, and Europe. This blog serves as a valuable resource for individuals interested in staying updated on the latest developments and trends in these regions' lubricants markets
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