Press release
Marine Lubricants Market to cross $5.9 bn by 2024|ExxonMobil, Shell, Valvoline Inc., Lubricon, Castrol, LUKOIL, Gulf Oil
Marine Lubricants Market
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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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.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Synforce Lubricants
2. Products Landscape
3. Valvoline Inc.
4. Products Landscape
5. Lubricon
6. Products Landscape
7. Baileys Marine Fuels
8. Products Landscape
9. Royal Dutch Shell plc
10. Products Landscape
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.
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Marine lubricants market from transport ship based channels should exceed USD 1.6 billion by 2024. Increase in demand for bulk commodities and consumer goods coupled with rise in foreign trade activities through sea route and development of infrastructure & ports may positively influence market growth.
Asia Pacific, driven by South Korea, China, Japan and India marine lubricants market may witness significant gains at over 4% by the end of the projected period. Increasing seaborne activities along with growth in number of shipping harbors for various bilateral treaties may spur regional industry growth.
Table Of Content For This Research Report:
Chapter 6 Marine Lubricants Market, By Marine Channel
6.1 Marine lubricants by marine channel market share, 2016 & 2024
6.2 Recreational
6.2.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.2.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.2.3 Inflatable boats
6.2.3.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.2.3.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.2.4 In board motor boats
6.2.4.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.2.4.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.2.5 Out board motor boats
6.2.5.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.2.5.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.2.6 Others
6.2.6.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.2.6.2 Market estimates & forecast,by region, 2013-2024, (Kilo Tons) (USD Million)
6.3 Industrial
6.3.1 Market estimates & forecast 2013-2024, (Kilo Tons) (USD Million)
6.3.2 Market estimates & forecast by region, 2013-2024, (Kilo Tons) (USD Million)
6.3.3 Drill ships
6.3.3.1 Market estimates & forecast,2013-2024, (Kilo Tons) (USD Million)
6.3.3.2 Market estimates & forecast,by region, 2013-2024, (Kilo Tons) (USD Million)
6.3.4 Semi submerged ship
6.3.4.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.3.4.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4 Transport
6.4.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.4.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4.3 Tankers
6.4.3.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.4.3.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4.4 Cargo ships
6.4.4.1 Market estimates & forecast 2013-2024, (Kilo Tons) (USD Million)
6.4.4.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4.5 Container ships
6.4.5.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.4.5.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4.6 Passenger ships
6.4.6.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.4.6.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
6.4.7 Others
6.4.7.1 Market estimates & forecast, 2013-2024, (Kilo Tons) (USD Million)
6.4.7.2 Market estimates & forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/marine-lubricants-market
Europe, led by France, UK and Germany marine lubricants market may surpass USD 2.5 billion by 2024. Growth in offshore drilling activities and increase in sea trade as per bilateral agreements between countries may stimulate regional demand. Increasing consumer awareness regarding ecofriendly products along with rise in shipping tourism may further complement business 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.
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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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