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PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1122966

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PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1122966

Marine Lubricants Market: Current Analysis and Forecast (2021-2027)

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The global marine lubricants market is likely to showcase a growth of around 2% during the forecast period. Maritime transport is one of the major pillars of international trade and the global economy, as nearly 80% of global trade by volume and more than 70% of global trade by value are carried by sea and are handled by ports across the globe. The huge volume of merchandise trade is carried out via sea as it is cheaper than rail and road transport. To tackle the growing seaborne trade, a large number of ocean-going vessels are the center of attraction. These vessels work as a bridge in international trade. Therefore, regular maintenance, oiling, and greasing of different parts of the vessels are required. Varieties of lubricants like engine oil, hydraulic fluid, gear oil, transmission fluid, grease, and compressor oil are used in vessels to reduce friction and heat, prevent damage, and prolong component life. As the global seaborne trade has increased over the years placing the requirement for a greater number of vessels. This, in turn, boosts the marine associated industries including lubricants. For instance, from 9.82 billion tons loaded in 2014, the global transport volume of seaborne trade increased to 11.07 billion tons loaded in 2019, however, in the light of COVID-19, the market falls back to 10.65 billion tons loaded in 2020.

Insights Presented in the Report

"Amongst base oil, mineral oil held a prominent share in the market in 2020"

Based on the base oil, the market is categorized into mineral oil, synthetic oil, and bio-based oil. Among these, mineral oil accounted for a significant share in the market and is likely to maintain its strong position during the forecast period. Mineral oil is widely consumed owing to its higher efficiency and lower emission. Further, to comply with government regulations, the marine industry is taking steps to use better quality lubricants. As a result, companies are transitioning from group I mineral oil to group II mineral oil and not to synthetic or bio-based oil due to low cost and the low number of changing requirements in work techniques, working with new base oil manufacturers, and changing equipment compared to synthetic oil.

"Amongst type, hydraulic fluid accounted for a significant share in 2020"

Based on type, the market is categorized into hydraulic fluid, engine oil, gear oil, transmission fluid, grease, compressor oil, and others. Of these, hydraulic fluid captured a significant share in the market and is likely to maintain a strong presence in the market during the forecast period. This can be attributed to the wide use of hydraulic systems in all kinds of marine vessels. Some of the application areas of hydraulic fluids are automation and control systems, valve operation, deck machinery, engine room, and stabilizers.

"Asia-Pacific is expected to showcase significant growth during the forecast period"

For a better understanding of the market adoption of Marine Lubricants, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase significant growth over the forecast period. This can be ascribed to the vast marine fleet coupled with rising investments in shipbuilding and commercial freight transport in the key markets that offer high-growth opportunities for the marine lubricants market in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country-level analysis of the industry

Customization Options:

The global marine lubricants market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Product Code: UMCH211053

TABLE OF CONTENTS

1 MARKET INTRODUCTION

  • 1.1. Market Definitions
  • 1.2. Limitation
  • 1.3. Stake Holders
  • 1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

  • 2.1. Research Process of the Marine Lubricants Market
  • 2.2. Research Methodology of the Marine Lubricants Market
  • 2.3. Forecasting Method
  • 2.4. Respondent Profile
  • 2.5. Main Objective of the Marine Lubricants Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL MARINE LUBRICANTS MARKET COVID-19 IMPACT

6 GLOBAL MARINE LUBRICANTS MARKET REVENUE (USD MN), 2019-2027F

7 MARKET INSIGHTS BY BASE OIL

  • 7.1. Mineral
  • 7.2. Synthetic
  • 7.3. Bio-based

8 MARKET INSIGHTS BY TYPE

  • 8.1. Hydraulic Fluid
  • 8.2. Engine Oil
  • 8.3. Gear Oil
  • 8.4. Transmission Fluid
  • 8.5. Grease
  • 8.6. Compressor Oil
  • 8.7. Others

9 MARKET INSIGHTS BY VESSEL

  • 9.1. Commercial Vessel
  • 9.2. Offshore Support Vessel
  • 9.3. Others

10 MARKET INSIGHTS BY REGION

  • 10.1. North America Marine Lubricants Market
    • 10.1.1. The United States
    • 10.1.2. Canada
    • 10.1.3. Rest of North America
  • 10.2. Europe Marine Lubricants Market
    • 10.2.1. Germany
    • 10.2.2. France
    • 10.2.3. The United Kingdom
    • 10.2.4. Italy
    • 10.2.5. Spain
    • 10.2.6. Rest of Europe
  • 10.3. Asia-Pacific Marine Lubricants Market
    • 10.3.1. China
    • 10.3.2. Japan
    • 10.3.3. India
    • 10.3.4. Australia
    • 10.3.5. Rest of Asia-Pacific
  • 10.4. Rest of World Marine Lubricants Market

11 MARINE LUBRICANTS MARKET DYNAMICS

  • 11.1. Market Drivers
  • 11.2. Market Challenges
  • 11.3. Impact Analysis

12 MARINE LUBRICANTS MARKET OPPORTUNITIES

13 MARINE LUBRICANTS MARKET TRENDS

14 DEMAND AND SUPPLY-SIDE ANALYSIS

  • 14.1. Demand Side Analysis
  • 14.2. Supply Side Analysis

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

  • 16.1. Porters Fiver Forces Analysis

17 COMPANY PROFILED

  • 17.1. Chevron Corporation
  • 17.2. British Petroleum Plc.
  • 17.3. Exxon Mobil Corporation
  • 17.4. PetroChina Company Limited
  • 17.5. Royal Dutch Shell Plc.
  • 17.6. TotalEnergies SE
  • 17.7. The Idemitsu Kosan Company Ltd.
  • 17.8. China Petroleum & Chemical Corporation
  • 17.9. The PJSC Lukoil Oil
  • 17.10. Fuchs Petrolub SE

18 DISCLAIMER

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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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