Undoubtedly, the Saudi Arabia economy is one of the top twenty regions across the globe with the fifth-largest proved natural gas reserves and has the second most valuable natural resources around the world. Not only has this, but it is also reliant on the oil as the region has the second-largest confirmed petroleum reserves, and the country is the largest exporter of the petroleum around the globe. Additionally, Saudi Arabia Lubricant the market is at the development stage. Saudi Arabia Lubricants Market has augmented at a positive CAGR during the period of 2008-2014 in terms of revenue, but owing to the Oil slump in the year 2014-15, the growth of the market reduced down, hence the market is observing an undesirable growth during the reviewed period of 2014-2018.
Saudi Arabia is reliant on the import for Specialty lubricants and other preparatory raw materials as they establish a niche share in the total lubricant market. The domestic ultimatum is majorly contested by companies around the globe which harvest the lubricants in the region. Furthermore, Saudi Arabia plastic pipes and fittings market is in the late growth stage. The organized segment (large and specialized companies) accounted for the market owing to the greater product quality and product customization. The Government schemes such as Vision 2030 to accentuate on developing sectors such as health care, defense, transport and logistics will rise the investment in the construction of hospitals, factories and other infrastructure, boom up the private segment contribution to the economy, transmute the government's Public Investment Fund (PIF) into a USD 2 trillion autonomous wealth fund. There has also been a move in customer redirection from steel pipes to plastic pipes for numerous industrial usages such as for the determination of dispensing the oil and natural gas as it is a more reasonable choice. Water supply and Sewage underwrote the uppermost share to the Plastic Pipes and Fittings market of Saudi Arabia in 2017.
Nonetheless, the Saudi Arabia fitness services market has observed a marvelous growth in the recent past few years perceiving a strong double-digit growth from 2012 to 2017. Quickly rising obesity rate, heart problems, and a significant rise in the cognizance related to personal health have boosted the momentum to the market. The population of a male between 15 to 44 years has augmented at a rate slightly over 2% from 2012 to 2017 likely, female populace among the same age group has examined the growth of close to 2.0% from 2012 to 2017. Moreover, the increasing youth populace in the region, along with ease in-laws for women has promoted the market. Therefore, in the coming years, it is anticipated that the research market in Saudi Arabia will increase across the globe more positively over the recent few years.
