Press release
Marine Lubricants Market 2018- Lubricon, ExxonMobil, Shell, Sinopec, Total S.A, Castrol, Synforce lubricants, Baileys, LUKOIL, Quepet, Gulf Oil and Indian Oil
Marine Lubricants Market
Increasing sea borne trades across the globe along with growth in shipbuilding industry should drive marine lubricants market size. According to WTO, sea borne freight accounted for over 30% of world transport in 2016.
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Biodegradable lubricants may register significant gains owing to stable viscosity, enhanced safety measures, and low emission rates. Favorable government schemes for adopting bio-based lubricants along with increasing tourism activities may stimulate industry growth. Lubricants with superior characteristics and quality will assist in upkeep and maintenance of water vessels, thus improving their shelf life. Increasing disposable income has led to significant increase in sea activities such as water sports and yachting, thereby increasing marine lubricants market demand.
Mineral oil based marine lubricants market may surpass USD 4.5 billion in sales by 2024 owing to its rising demand from various applications such as stern tubes, turbines and engines. These products offer lubrication in emulsion & neat form and provides superior level performance even when water access occurs.
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Regulatory standards towards nitrogen and sulfur emission reduction into sea may stimulate marine lubricants market growth. Increase in crude oil demand from refiners has resulted into higher offshore drilling projects, thereby increasing product demand. Increasing demand for engine oils including cylinder oils, trunk piston oils and system oils will spur the business.
Bio based marine lubricants market may register growth at over 2% by the end of the forecast timeframe. They offer superior characteristics such as constant velocity, higher flashpoints and less vapor emissions and oil mist. Strict governmental norms & regulations and increasing environmental concerns with emphasis on biodegradable products may positively impact the business.
Marine lubricants market from hydraulic oil applications may exceed USD 1.3 billion by 2024. These products have various applications in offshore drilling projects and marine related services. Hydraulic oil offers, low compressibility, resistance to cavitation, water emulsifying ability and high film strength which provides excellent protection and equipment reliability in corrosive environment, thereby complementing industry growth.
Global marine lubricants market share is consolidated with prominent players including ExxonMobil, BP Marine, RDS, Chevron, Total, Quepet, Castrol, JX Nippon, Lukoil and Sinopec.
Partial Chapter of the Table of Content
Chapter 4 Marine Lubricants Market, By Product
4.1 Marine lubricants product market share, 2016 & 2024
4.2 Mineral Oil
4.2.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
4.2.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.3 Synthetic Oil
4.3.1 Market estimates & forecast , 2013-2024, (Kilo Tons) (USD Million)
4.3.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.4 Bio based marine lubricants
4.4.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
4.4.2 Global bio based marine lubricants market, by region, 2013-2024, (Kilo Tons) (USD Million)
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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