Analyst Perspective
The marine lubricants market is estimated to register a CAGR of 2.1 % from 2022 to 2031. The revenue of marine lubricants is growing due to high performance, readily available, and low cost. The increase in demand for marine transportation played an essential role in the growth of the marine lubricants market. The expansion of infrastructure drives the growth in the marine lubricants market, with more ships being built, which further leads to a rise in demand for marine lubricants.
Market Overview
Marine lubricants play a vital role in the shipping industry by ensuring the smooth operation of machinery. Marine lubricants are used to create less amount of friction between moving parts.The marine lubricant market is forecasted to grow because of growth in active sailing ships. Furthermore, the growing demand for sustainability creates more demand for bio-based and synthetic lubricants.
Market Drivers
Development of Seaborne Trade
The trade between the two countries has expanded, so the need for shipping goods has increased. This led to an increase in the usage of ships, which led to growth in the requirement for marine lubricants. Technological advancements such as slow steaming, catalytic reduction, and on-time lubrication are newer technologies that help drive the marine lubricant market.
Market Segmentation
The marine lubricant market is segmented based on lubricant type, application, and type of ship. The global lubricant market is segmented based on lubricant type into mineral oil, synthetic oil, and bio-based oil. The marine lubricant market, based on application, is segmented into engine oil, compressor oil, system oil, and others. Based on ship type, It is segmented as a bulk carrier, container ship, tankers, and others.
Regional Analysis
The report provides a detailed industry overview which includes qualitative and quantitative information. It also provides an overview and forecast of the global marine lubricants market based on several segments. It gives information on market size and forecast estimates from 2021 to 2031 concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The marine lubricants market by region is also sub-segmented by respective countries and segments. The marine lubricants market report covers an analysis and forecast of 18 countries globally and the current trends and opportunities prevailing in the region.
The report analyses factors affecting the marine lubricants market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the marine lubricants market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the food emulsifiers market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players in the marine lubricants market are anticipated to have lucrative growth opportunities with the rising demand for seaborne trade in the global market.
The report includes key companies' profiles, SWOT analysis, and marine lubricants market strategies. The report also focuses on leading market players with information including company profiles, components, and services offered, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the marine lubricants market.
- Chevron Corporation
- ExxonMobil Corporation
- Shell PLC
- BP PLC
- Total Energies
- ENOC Lubricants
- Lukoil Lubricants
- Quacker
- Repsol S.A
- Avin Oil
Marine Lubricants Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | XX% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Lubricant Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Trends and growth analysis reports related to Chemicals and Materials : READ MORE..
The List of Companies
1.Aegean Marine Petroleum Network Inc.
2.BP plc
3.Chevron Corporation
4.Exxon Mobil Corporation
5.Idemitsu Kosan Co., Ltd.
6.Indian Oil Corporation Ltd
7.LUKOIL Marine Lubricants Ltd.
8.Shell International B.V.
9.Sinopec Corp.
10.Total S.A.
Get Free Sample For