Press release
Marine Lubricants Market 2020 Growth, Opportunity and Industry Outlook 2024 | Royal Dutch Shell PLC, BP PLC, Chevron Corporation
The Marine Lubricants Market: Size, Trends & Forecasts (2019-2024): The report presents an in-depth assessment of the Marine Lubricants including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Marine Lubricants investments from 2019 till 2023The marine lubricants market is expected to register a CAGR of approximately 2% during the forecast period (2019-2024).
- Rising demand for marine transport in Europe and Asia-Pacific is expected to drive the demand for the market, during the forecast period.
- Economic instabilities in shipbuilding economies is likely to hinder the market growth.
- Recovering shipbuilding and marine transport industry in the United States is projected to act as an opportunity for the market, in the future.
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Major Key Players: Royal Dutch Shell PLC, BP PLC, Chevron Corporation, Lukoil, and ExxonMobil Corporation, amongst others.
Industry News:
Apr 30, 2020: Royal Dutch Shell Plc First Quarter 2020 Interim Dividend Announcement
Nov 8, 2019: Shell Marine Signs Fleet-Wide Lubricants And Technical Service Contract In China
Apr 9, 2019: Shell Marine Launches Shell Alexia 40 Lubricant Ahead Of Imo 2020 Regulation Changes
Key Market Trends
Marine Cylinder Lubricants The Dominating Segment
- The marine cylinder lubricants occupy the largest share in the marine lubricants market.
- These lubricants find their application in vessels with either 2-stroke or 4-stroke engines, with 2-stroke engines occupying the majority of the share.
- For marine diesel engines operating on residual fuels containing sulfur, cylinder lubricants generally serve the following purposes:_
- Form and maintain an oil film to prevent metal to metal contact between the cylinder liner and piston rings._
- Neutralize sulfuric acid in order to control corrosion._
- Clean the cylinder liner, and particularly the piston ring pack, to prevent malfunction and damage caused by combustion and neutralization residues._
- The ever tightening restrictions regarding the environment are pushing the marine cylinder lubricant manufacturers to develop new products continuously.
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Asia-Pacific to Dominate the Market
The Asia-Pacific region dominated the global marine lubricants market. With rising demand for majority of the industries and commodities, increasing trend for imports and exports has been registered in the recent years. The demand for basic commodities and raw material, including crude oil and natural gas, has accounted for an exceptional rise over the period. In line with the Paris Climate Pact, the major developing nations of Asia-Pacific are cutting down their daily usage of coal and converting to natural gas, majorly for power generation and cooking purpose. Natural gas is imported in Asia-Pacific, as the production is not sufficient to cope up with the demand. Hence, increasing marine activities are expected to drive the market for marine lubricants over the forecast period.
Influence of the Marine Lubricants market report:
-Comprehensive assessment of all opportunities and risk in the Marine Lubricants market.
-Marine Lubricants market recent innovations and major events.
-Detailed study of business strategies for growth of the Marine Lubricants market-leading players.
-Conclusive study about the growth plot of Marine Lubricants market for forthcoming years.
-In-depth understanding of Marine Lubricants market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Marine Lubricants market.
Full Report With TOC https://www.marketinsightsreports.com/reports/01091743958/marine-lubricants-market-growth-trends-and-forecast-2020-2025?Mode=31&OP
The research includes historic data from 2015 to 2019 and forecasts until 2024 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
References:
https://www.shell.com/media/news-and-media-releases/2020/first-quarter-2020-dividend-announcement.html
https://www.shell.com/business-customers/marine/news-and-media-releases/news-and-media-2019/shell-marine-signs-fleet-wide-lubricants-and-technical-service-contract-in-china.html
https://www.shell.com/business-customers/marine/news-and-media-releases/news-and-media-2019/shell-marine-launches-shell-alexia-forty-lubricant.html
We also offer customization on reports based on specific client requirement:
1- Free country level analysis for any 5 countries of your choice.
2- Free Competitive analysis of any 5 key market players.
3- Free 40 analyst hours to cover any other data points.
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Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com|irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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