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Marine Lubricants Market Drivers, Industry Analysis, Growth Overview, Opportunities, Share And Forecast To 2031
Marine Lubricants Market
The regions covered in the marine lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest marine lubricants market share.
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The marine lubricants market consists of sales of marine lubricants by entities (organizations, sole traders, and partnerships), that are used by ships and other seafaring vehicles. Marine lubricants are frequently utilized to protect and improve the performance of engines and equipment. They are specifically developed to provide optimum performance in operations such as extending engine life and safeguarding components at high temperatures, boosting machine efficiency and dependability, enhancing mechanical wear protection, and preventing cold corrosion. By creating a layer that minimizes friction between moving contact surfaces, marine lubricant reduces friction and wear. reduce friction, prevent wear, protect equipment from corrosion, manage temperature by dissipating heat, control pollution to a filter, convey power, and provide a fluid seal are all functions of lubricants.
Key competitors in the marine lubricants market are BP plc, Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Corporation, Sinopec Corporation, PJSC Lukoil, Idemitsu Kosan Co. Ltd., Total S.A., Castrol.
The global marine lubricants market size is expected to grow from $6.96 billion in 2021 to $7.24 billion in 2022 at a compound annual growth rate (CAGR) of 4.00%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The marine lubricant market is expected to reach $8.67 billion in 2026 at a CAGR of 4.62%.
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TBRC's report segments the global marine lubricants market:
1) By Product Type: Engine Oil, Hydraulic Oil, Turbine Oil, Gear Oil, Greases, Others
2) By Oil Type: Mineral Oil (Paraffinic Oil, Naphthenic Oil, Aromatic Oil), Synthetic Oil (PAO, PAG, Esters), Bio-Based (Plant Source, Animal Fats), Grease (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener)
3) By Ship Type: Bulk Carriers (Handysize, Handymax, Panamax, Capesize), Tankers (Panamax, Aframax, Suezmax, Very Large Crude Carrier (VLCC), Ultra Large Crude Carrier (ULCC)), Container Ships, Others (Reefers, Drill Ships, Passenger Ships, Roll On Roll Off Ships, Service Ships)
Read Further On The Marine Lubricants Market Here:
https://www.thebusinessresearchcompany.com/report/marine-lubricants-global-market-report
The Table Of Contents Includes:
1. Executive Summary
2. Marine Lubricants Market Characteristics
3. Marine Lubricants Market Trends And Strategies
4. Impact Of COVID-19 On Marine Lubricants
5. Marine Lubricants Market Size And Growth
.....
28. Key Mergers And Acquisitions In The Marine Lubricants Market
29. Marine Lubricants Market Future Outlook And Potential Analysis
30. Appendix
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