Marine Lubricants Market, Global Marine Lubricants Market, Marine Lubricants Industry 2022, Marine Lubricants Market Analysis
According
to a new market report published by Transparency Market Research
“Marine Lubricants Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2022,” global marine lubricant market
demand was 2,321.1 kilo tons in 2013 and is expected to reach 2,902.3
kilo tons in 2022, growing at a CAGR of 2.52% from 2014 to 2022. In
terms of revenue, the market is expected to grow at a CAGR of 3.63% from
2014 to 2022.
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Marine
lubricants market reduce the friction between operating mechanical
components, thereby increasing the output efficiency of machineries,
engines and components installed on a ship. The growing shipping
industry is expected to augment the growth of the marine lubricant
market in the near future. To prevent lubricant spillage in water
bodies, and regulatory pressure to increase product quality and ensure
environment safety has resulted in increased demand for relatively safer
synthetic and bio-based marine lubricants.
Key
product segments analyzed and estimated in this study include mineral,
synthetic and bio-based lubricants. Mineral lubricants dominated the
product market, accounting for 87.19% of the overall demand volume in
2013. Marine lubricants are primarily categorized into seven different
applications including engine oils, hydraulic oils, grease, turbine
oils, gear oils, compressor oils and heat transfer fluids. Engine oils
captured majority of the market and accounted for 46.42% of the overall
marine lubricant market in 2013. Hydraulic oils and grease follows
engine oils and are expected to grow with a CAGR of 2.10% and 2.09% from
2014 to 2022, respectively.
In
terms of volume, Asia Pacific dominated the global market, accounting
for 41.0% of the overall market in 2013, owing to high demand in
emerging economies, especially China and South Korea, Japan and
Singapore. Asia Pacific is followed by Europe, due to a favorable
regulatory scenario and high consumer awareness levels in the region
owing to high demand in emerging economies, especially China and South
Korea, Japan and Singapore. Asia Pacific marine lubricant revenues are
expected to grow at a CAGR of 4.13% from 2014 to 2022.
Some
of the key companies that deal in mineral oil, synthetic and bio-based
marine lubricants include Total Lubricants (Lubmarine), Royal Dutch
Shell, Chevron, BP Marine, Castrol, and ExxonMobil.
This
research analyzes and estimates the performance and demand of marine
lubricants in the global scenario, providing detailed trend analysis of
the market by geography and comprehensive analysis of companies that are
dealing in marine lubricants. The report presents a thorough assessment
of the strategies followed by different stakeholders by segmenting the
marine lubricants market as below:
Global marine lubricant market, by product type
-Mineral oil marine lubricants
-Synthetic marine lubricants
-Bio-based marine lubricants
Global marine lubricant market, by application
-Engine oil marine lubricants
-Hydraulic oil marine lubricants
-Grease
-Others (turbine oils, gear oils, compressor oils and heat transfer fluids)
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Global marine lubricant market, by geography
-North America
-U.S.
-Canada
-Mexico
-Europe
-U.K.
-Turkey
-Germany
-Italy
-Spain
-Netherlands
-France
-Asia Pacific
-China
-Japan
-South Korea
-Singapore
-Rest of the World (RoW)
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