Marine Lubricants (Mineral Oil, Synthetic, Bio-based, and Grease) Market – Global Forecast to 2023 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The "Marine
Lubricants Market by Oil Type (Mineral Oil, Synthetic, Bio-based, and
Grease), Product Type (Engine oil, Hydraulic fluid, Compressor oil),
Ship Type (Bulk Carrier, Tanker, Container), and Region – Global
Forecast to 2023" report has been added to ResearchAndMarkets.com's
The global marine lubricants market is estimated to be USD 5.98 billion
in 2018 and is projected to reach USD 6.66 billion by 2023, at a CAGR of
2.17% from 2018 to 2023
The growth of the market is driven by the emerging alternative
technology trends. Also, rising infrastructure developments (port
infrastructure) to strengthen the shipping industry globally are fueling
trade activities, leading to the growth of marine lubricants market.
However, fewer trade activities and the rising number of idle ships are
restraining the market's growth.
Mineral oil is the largest oil type segment of the global marine
lubricants market. By oil type, the mineral oil segment is estimated to
account for the largest share of the global marine lubricants market in
2018. This oil type is available in light and heavy grades, depending on
the usage and requirement. Mineral oil is produced in large quantities
because of its high demand in different marine applications, such as
engines, turbines, and stern tubes. The market for mineral oil is driven
by the demand from APAC and the Middle East due to the presence of a
large number of oil refineries in these regions.
Engine oil is the largest product type segment of the global marine
lubricants market. By product type, the engine oil segment is estimated
to account for the largest share of the global marine lubricants market
in 2018. This large share is majorly attributed to the increasing ship
sizes, which translate into increased engine capacities and, therefore,
high consumption of engine oil in the propulsion units.
The bulk carrier segment is the largest ship type segment of the global
marine lubricants market. Marine lubricants are primarily used in the
engine, hydraulic, compressor, stern tube, and gear of ships. By ship
type, the bulk carrier segment is projected to lead the marine
lubricants market between 2018 and 2023. The improving economic
condition of countries in various regions is fueling the need for
efficient and bigger ships to accommodate the rising cargo demand.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights and Trends
7 Marine Lubricants Market, By Oil Type
8 Marine Lubricants Market, By Product Type
9 Marine Lubricants Market, By Ship Type
10 Marine Lubricants Market, By Region
11 Competitive Landscape
12 Company Profiles
- BP PLC.
- Chevron Corporation
- Exxonmobil Corporation
- Royal Dutch Shell PLC.
- Total S.A.
- Aegean Marine Petroleum Network Inc.
- Idemitsu Kosan Co., Ltd.
- Indian Oil Corporation Ltd.
- Sinopec Corporation
- Avin Oil S.A.
- Fuchs Petrolub Se
- Gulf Oil International
- H&R GmbH & Co. KGaA
- JX Nippon Oil & Energy Corporation
- Petronas Lubricants International
- Quepet Lubricants
- Stanley Group
- Unimarine LLC
- Vickers Oil
- World Fuel Service Corporation
For more information about this report visit https://www.researchandmarkets.com/research/qkrf5q/marine_lubricants?w=4
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and Ship Parts, Lubricants