Increasing global trade and spurt in the shipping industry is expected to drive marine lubricant demand over the next five years. The growing popularity and increasing utilization of group III and IV base oils and increasing substitution of base I oil, which is a major source of marine lubricants has emerged as a critical issue for industry participants.
This market research study, analyzes the global market for marine lubricants, estimating and forecasting the market from the consumption point of view, while segmentation has been carried out on various levels including product types based on base oils, application, as well as on geographical basis to provide a holistic picture of the market. In marine lubricants, regional, product based and application based market data is given in terms of both volumes and revenues for the period 2013 to 2022. The study assists in understanding the growing popularity of various segments based on product type and application.
Different marine lubricant product forms analyzed in this study include mineral oil, synthetic and bio-based marine lubricants. Marine lubricant applications estimated and forecasted in this study include engine oils, hydraulic oils, grease, and others types (turbine oils, gear oils, compressor oils and heat transfer fluids). Regional data has been provided for North America (U.S, Canada and Mexico), Europe (U.K., Turkey, Germany, Italy, Spain, Netherlands, and France), Asia Pacific (China, Japan, South Korea and Singapore), and Rest of the World (RoW).
The report also includes Porters five forces model, value chain analysis of the market and market attractiveness analysis by product type. 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. The report provides an overview of these companies followed by their financial revenue, business strategies and recent developments.
The research provides detailed analysis of companies dealing in marine lubricants, trend analysis and demand forecast by geography. Various levels of market segmentation for which estimate and forecast has been provided are as follows:
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
- Others (turbine oils, gear oils, compressor oils and heat transfer fluids)
Global marine lubricant market, by geography