Press release
Marine Lubricants Market Rising Demand Expand by 2023 | Castrol India, Total S.A, Lubricon, Quepet Lubricants LLC, Gulf Oil India Ltd, Sinopec, ExxonMobil, Lukoil, Royal Dutch Shell and Synforce Lubricants.
Marine Lubricants Market
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Competitive Insights
The leading players in the market are Castrol India, Total S.A, Lubricon, Quepet Lubricants LLC, Gulf Oil India Ltd, Sinopec, ExxonMobil, Lukoil, Royal Dutch Shell and Synforce Lubricants. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Industry Trend Analysis Overview:
The Marine Lubricants Market was worth USD 5.12 billion in 2014 and is expected to reach approximately USD 6.17 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 2.09% during the forecast period. Positive outlook towards development in shipbuilding industry is foreseen to drive marine lubricants market. Solid application potential attributable to high movies quality which brings about consumption protection and enhanced hardware dependability is probably going to boost the demand of the product in shipbuilding industry. Growth in seaborne exchange over the world is expected to goad business in future. All around, more than 80% of exchange is done through seaways as it is the most practical medium when contrasted with aviation routes and roadways. Dry bulk shipment comprises of bulk commodities which incorporates iron ore, crude oil products and grains. Expanding tourism exercises combined with recreational sports and cruising exercises will likewise bolster marine ointments market development.
Regional Insights
Europe marine lubricants market, driven by Netherland, Germany and UK, is foreseen to witness significant growth in the upcoming years. Developing seaborne exchange because of bilateral agreements in countries alongside rising ventures and should drive local industry development. Increment in the production of natural gas & crude oil alongside rising seaward investigation may go about as another contributing component towards product demand. China marine lubricants market estimate is fuelled by shipbuilding industry as the administration has furnished four state-possessed administrators with scrap and build subsidy.
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Market Segmentation-
By Product:
Bio based marine lubricants
Mineral Oil
Synthetic Oil
By Application:
Grease Oil
Engine Oil
Hydraulic Oil
Others
By Marine Channel:
Industrial
Recreational
Transport
By Region-
Middle East And Africa (Saudi Arabia, UAE, Egypt, Nigeria And South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest Of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest Of Asia-Pacific)
Rest Of The World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
Product Outlook and Trend Analysis
Marine lubricants market from mineral oil is anticipated to be the leading section by the end of the forecast period. Solid application scope in engines, turbines and stern tubes attributable to simple accessibility and being cost effective compared to others is foreseen to boost mineral oil demand. These products are performance improving and reflect smooth movements in ship parts. Synthetic oil based marine ointments market size will witness development significantly in the following years. They offer advantages like better resistance at high temperatures.
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Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
4. Marine Lubricants Market, By Product
4.1. Introduction
4.2. Global Marine Lubricants Sales, Revenue and Market Share By Product (2014-2017)
4.2.1. Global Marine Lubricants Sales and Sales Share By Product (2014-2017)
4.2.2. Global Marine Lubricants Revenue and Revenue Share By Product (2014-2017)
4.3. Marine Lubricants Market Assessment and Forecast, By Product , 2014-2023
4.4. Bio based marine lubricants
4.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.5. Mineral Oil
4.5.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
4.6. Synthetic Oil
4.6.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5. Marine Lubricants Market, By Application
5.1. Introduction
5.2. Global Marine Lubricants Sales, Revenue and Market Share By Application (2014-2017)
5.2.1. Global Marine Lubricants Sales and Sales Share By Application (2014-2017)
5.2.2. Global Marine Lubricants Revenue and Revenue Share By Application (2014-2017)
5.3. Marine Lubricants Market Assessment and Forecast, By Application , 2014-2023
5.4. Grease Oil
5.4.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.5. Engine Oil
5.5.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.6. Hydraulic Oil
5.6.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
5.7. Others
5.7.1. Market Assessment and Forecast, By Region, 2014-2023($Billion)
6. Marine Lubricants Market, By Marine Channel
7. Marine Lubricants Market, By Region
…..CONTINUED FOR TOC
Application Outlook and Trend Analysis
Marine lubricants market size from motor oil applications is anticipated to grow tremendously in the following years. These products are very effective for engines with four strokes and two strokes of large ships, for example, cruise and cargo. Expanding shipping tourism alongside rising extra cash basically in India, and China should support engine oil demand.
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