Market Research Report
Marine Lubricants Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||670028|
|Published||Content info||130 Pages
Delivery time: 2-3 business days
|Marine Lubricants Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: June 1, 2020||Content info: 130 Pages||
The marine lubricants market is expected to register a CAGR of approximately 2% during the forecast period (2019-2024).
Marine Cylinder Lubricants - The Dominating Segment
Asia-Pacific to Dominate the Market
The Asia-Pacific region dominated the global marine lubricants market. With rising demand for majority of the industries and commodities, increasing trend for imports and exports has been registered in the recent years. The demand for basic commodities and raw material, including crude oil and natural gas, has accounted for an exceptional rise over the period. In line with the Paris Climate Pact, the major developing nations of Asia-Pacific are cutting down their daily usage of coal and converting to natural gas, majorly for power generation and cooking purpose. Natural gas is imported in Asia-Pacific, as the production is not sufficient to cope up with the demand. Hence, increasing marine activities are expected to drive the market for marine lubricants over the forecast period.
The marine lubricants market is highly fragmented. Key players in the market include Royal Dutch Shell PLC, BP PLC, Chevron Corporation, Lukoil, and ExxonMobil Corporation, amongst others.