Press release
Marine Lubricants Market Trends, Growth Prospects To 2020: Grand View Research, Inc.
Browse full research report on Global Marine Lubricants Market: http://www.grandviewresearch.com/industry-analysis/marine-lubricant-market
Mineral oil was the largest product segment and accounted for 88% of the total market demand in 2013. Cheap and easy availability of mineral oils along with increasing investments for R&D have been the major factors responsible for the growth of the market over the last few years. Mineral oil is also anticipated to experience highest growth rate over the next six years. The segment is expected to grow at an estimated CAGR of 3.6% from 2014 to 2020.
Read detailed report or request for sample of this research report:
http://www.grandviewresearch.com/industry-analysis/marine-lubricant-market/request
Further key findings from the study suggest:
• Global marine lubricant market volume was 2,428.7 kilo tons in 2013 and is estimated to grow at a CAGR of 3.6% from 2014 to 2020.
• Engine oil emerged as the leading application segment and accounted for 46.3% of total market volume in 2013. Increasing engine capacities and efficiency in ships is expected to drive the demand for engine oils. Hydraulic oil is expected to be one of the fastest growing application segments for marine lubricants growing at an estimated CAGR of 3.4% from 2014 to 2020. Increasing dependence on hydraulic mechanical parts in ships is expected to augment the market growth over the next six years.
• Europe emerged as the leading regional market for marine lubricant and accounted for 46.2% of total demand in 2013. The European market is characterized by high investments for lubricants of different grades coupled with increasing seaborne trade specially food & beverages and packed foods. Europe along with being the largest market is also expected to witness highest growth over the forecast period.
• Growth of shipping industry coupled with governmental support in form of freight tax relaxation in India and China is anticipated to fuel the Asia Pacific marine lubricants market over the forecast period.
• The global marine lubricants market is oligopolistic in nature and the market participants compete on the basis of product development and overall profitability. The market is primarily dominated by major oil & gas companies including BP Marine, Total Lubricants, Royal Dutch Shell, Chevron, Castrol, ExxonMobil and Sinopec Corporation.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
For the purpose of this study, Grand View Research has segmented the marine lubricants market on the basis of product, application and region:
Global Marine Lubricants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Mineral Marine Lubricants
• Synthetic Marine Lubricants
• Bio-Based Marine Lubricant
Global Marine Lubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Engine Oil
• Hydraulic Oil
• Greases
• Others
Global Marine Lubricants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
email: sales@grandviewresearch.com
Web: grandviewresearch.com
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