Press release
Growth in usage of container transportation due to high export demand of commodities would fuel Europe Marine lubricant market
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According to the Graphical Research new growth forecast report titled “Europe Marine Lubricants Market analysis based on Product, Application, Marine Channel, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 2.6 billion by 2024.
Europe marine lubricant market is moderately consolidated. Major industry operator includes Aegean Marine Petroleum, Gulf Oil, Idemitsu Kosan, Fuchs Petrolub and Petronas Lubricants.
Strong application outlook from recreational boats which forms a part of Europe maritime industry should drive product demand. Boating is gaining popularity as a new type of vacation. Increasing number of adults participating in water sports activities leading to rise in demand for leisure ships should stimulate engine oil industry growth.
Stringent regulatory guidelines from EAL (Environmentally Acceptable Lubricants) and govt. initiative to incentivize the adoption of EAL based lubricants may positively impact industry growth. Bio based lubricants fall under biodegradable category causing less harm to marine life, this may serve as major contributing factor towards industry growth.
U.K marine lubricant market is anticipated to reach USD 190 million by 2024. Rise in demand for consumer goods owing to urban migration along with well-developed ports and trade facilities should drive transportation ships demand. Increasing foreign investments along with rapid globalization and favorable government policies should boost sea born trade in the country thereby stimulating product demand.
Netherlands marine lubricant market is projected to witness gains of over 6.4% by 2024 due to growing marine transport owing to bilateral free trade agreements with other regions. The European commission is currently negotiating a new FTA between EU and six trade partners including Australia, Chile, Indonesia, Mexico, New Zealand, and the Philippines. This is anticipated to attract more marine transport in Dutch economy thus stimulating the demand for marine lubricants.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1046/europe-marine-lubricants-market
Segments We Cover:
Europe Marine Lubricants Market Forecast, By Product
Mineral Oil
Synthetic Oil
Bio-based Marine Lubricants
Europe Marine Lubricants Market Analysis, By Application
Engine Oil
Hydraulic Oil
Grease Oil
Others
Marine Lubricants Market, By Marine Channel
Recreational
Industrial
Transport
Contact Us:
Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearch.com
Web: https://www.graphicalresearch.com
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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