Press release
Marine Lubricants Market Revenue, Business Opportunities and Forecast Worldwide by Key Manufacturers - BP Plc, Chevron Corporation, Valvoline, Lukoil, SK INC, Liqui Molly GmbH, Indian Oil Corporation
Global Marine Lubricants Market 2022-2026, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.Download FREE Sample Research Report of Marine Lubricants Market @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=705692
The marine lubricants market size is estimated to be USD 6.2 billion in 2021 and is expected to reach USD 6.7 billion by 2026, at a CAGR of 1.5% during the forecast period.
The report provides a comprehensive analysis of company profiles listed below:
• BP Plc. (UK)
• Chevron Corporation (US)
• ExxonMobil Corporation (US)
• Royal Dutch Shell Plc (Netherlands)
• Total Energies SE(France)
• Valvoline(US)
• Petronas (Malaysia)
• Lukoil (Russia)
• Idemitsu Kosan Co. Ltd (Japan)
• China Petrochemical Corporation (China)
• JX Nippon oil & Energy Corporation (Japan)
• Gulf Oil Corporation Ltd.(US)
• ENOC (Emirates National Oil Company) (UAE)
• ENI SPA (Italy)
• Indian Oil Corporation (India)
• PetroChina Company Limited (China)
• SK INC. (South Korea)
• CEPSA(Spain)
• GazrpromNeft(Russia )
• ADDINOL Lube Oil GmbH (Germany)
• Bel-Ray Company LLC (US)
• Morris Lubricants (UK)
• Penrite Oil (Australia)
• Liqui Molly GmbH (Germany)
• Dyade Lubricants (Netherland)
"Infrastructural developments strengthening the shipping industry is one of the factors driving the growth of the market?"
According to the International Chamber of Shipping (ICS), a principal global trade association for the shipping industry, it is estimated that around 90% of the global trade is carried out by the shipping industry. This is supported by the ship manufacturers and government bodies that help increase marine trade by increasing the size of ships, develop new terminals, and create bigger straits along with the expansion of the existing ones such as Panama and Suez Canals.
"Mineral oil is estimated to be the largest oil type in the marine lubricants market in 2020"
Mineral oil marine lubricants are made from dew axed paraffin-based crude oil mixed with a certain set of additives as per the specific application. Mineral oil lubricants are available in light and heavy grades, depending on the usage and requirement. They are produced in large quantities because of its high demand in different marine applications such as engines, turbines, stern tubes, and compressors. The mineral oil marine lubricants segment is projected to register the lowest CAGR in terms of value, between 2021 and 2026, as they are being replaced by less toxic marine lubricants such as synthetic and bio-based lubricants.
"Engine oil was the largest product type for marine lubricants market in 2020"
The engine is the key component of a ship/vessel operating in the sea and is classified into two types, propulsion engines and auxiliary engines. Propulsion engines move the vessel through water by igniting fuel inside the cylinder unit of the engine. Auxiliary engines are all the other engines used in a ship for driving the electric generators, fans, pumps, and other equipment on a vessel. Lubricants used in these engines play a vital role in the service life as well as the operating conditions of the ship. The lubrication system fosters the supply of lubricating oil to various parts in the engine.
"Bulk Carriers was the largest ship type for marine lubricants market in 2020"
Bulk carriers accounted for the largest share by value of the overall marine lubricants market in 2020. The improving economic condition of countries in various regions is fueling the high demand for efficient and bigger ships to accommodate the rising cargo demand. Marine engines are getting bigger and efficient. The expanding Suez and Panama Canals have further increased the inflow of bigger ships and, hence, larger cargo.
"Asia Pacific is estimated to be the largest marine lubricants market in 2020, in terms of value"
APAC is the largest marine lubricants market, globally. China, Singapore, Hong Kong, South Korea, Japan, Taiwan, Malaysia, and the Rest of APAC are considered in the APAC region. The region accounted for a share of the global market, in terms of value, in 2020. The high economic growth of the emerging economies and the increasing disposable income of the people in the region make APAC an attractive marine lubricants market.
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Competitive Landscape of Marine Lubricants Market:
1 Asia Pacific: Marine Lubricants Market Size, By Country, 2020-2026 (Kiloton)
2 China: Marine Lubricants Market Size, By Oil Type, 2016-2019 (Usd Million)
3 China: Marine Lubricants Market Size, By Oil Type, 2020-2026 (Usd Million)
3.1 Ranking Of Key Market Players
3.2 Market Share Of Key Players, 2020
3.2.1 Exxonmobil Corporation
3.2.2 Royal Dutch Shell Plc.
3.2.3 Bp Plc.
3.2.4 Totalenergies Se
3.2.5 Chevron Corporation
3.3 Revenue Analysis Of Key Market Players, 2016-2020
4 Hong Kong: Marine Lubricants Market Size, By Oil Type, 2016-2019 (Kiloton)
5 Hong Kong: Marine Lubricants Market Size, By Oil Type, 2020-2026 (Kiloton)
5.1 Stars
5.2 Emerging Leaders
6 South Korea: Marine Lubricants Market Size, By Oil Type, 2016-2019 (Kiloton)
6.1 Progressive Companies
6.2 Responsive Companies
6.3 Starting Blocks
7 Malaysia: Marine Lubricants Market Size, By Oil Type, 2016-2019 (Kiloton)
7.1 New Product Launch
7.2 Deals
7.3 Other Developments
Research Coverage:
This report segments the market for marine lubricants on the basis of type, application, sector and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for marine lubricants.
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