Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
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Mezahem H. Basrawi, CEO of Alhamrani FUCHS Petroleum.
Mezahem H. Basrawi, CEO of Alhamrani FUCHS Petroleum, talks about the lubricants market in Saudi Arabia.
"The Saudi lubricant market represents 420 thousand metric tonnes. The emerging markets now consist of the Middle Eastern markets and the African markets. These are set to increase by 3.2% per year for the next 5 years or until at least 2019 according to the latest studies. Of course there has been a drop in the European markets and in the US markets and so the emerging markets are now Africa and the Middle East and Saudi Arabia is among the top 5 in the area. The market here is going to be growing at 3.5%. Five years ago, the Saudi market represented 300 thousand metric tonnes and now it represents 420 thousand. It is moving quite fast. Our population has about 8 million cars. The amount of cars that come in per year is close to a million."
Alhamrani FUCHS Petroleum is currently No. 3 lubricant provider in Saudi Arabia with 15-16% market share in volume.