NEW YORK, Oct. 9, 2023 /PRNewswire/ -- The marine lubricants market size is expected to grow by USD 754.4 million from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 2.31% during the forecast period, according to Technavio. The development and growth of the shipping industry are notably driving the marine lubricants market. However, factors such as stringent environmental regulations may impede market growth. The market is segmented by Type (Mineral oil-based marine lubricants, Bio-based marine lubricants, and Synthetic marine lubricants), Application (Engine oil, Hydraulic oil, Grease, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information
We provide a detailed analysis of 20 companies operating in the marine lubricants market including Benjn.R.Vickers and Sons Ltd., BP Plc, Chevron Corp., Compania Espanola de Petroleos SA, Emirates National Oil Co. Ltd. LLC., ENEOS Holdings Inc, Eni SpA, Exxon Mobil Corp., Feoso Oil Ltd., FUCHS PETROLUB SE, Gazprom Nedra LLC, Gulf Oil International Ltd, Indian Oil Corp. Ltd., PJSC LUKOIL, Repsol SA, Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., TotalEnergies SE, Valvoline Inc., and Idemitsu Kosan Co. Ltd. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request the Free Sample Report.
Marine Lubricants Market 2023-2027: Company Analysis
BP Plc - The company offers marine lubricants such as Castrol cyltech, Mhp, Hlx, and Tlx Xtra, for high, medium, and low-speed engines. The company offers its lubricant range under its subsidiary Castrol Ltd.
Marine Lubricants Market 2023-2027: Segmentation
Type
The Mineral oil-based marine lubricants segment will have significant market share growth during the forecast period. The easy availability and low cost of mineral oils and increased R&D expenditure are projected to drive the demand for mineral oil-based marine lubricants, which will positively impact the market in focus in the coming years.
Geography
- By geography, APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Factors like the increasing investments in shipbuilding, particularly in South Korea, Japan, and China, are expected to fuel the demand for marine lubricants. Furthermore, the growing focus on the travel and tourism industry is likely to have a significant effect on the marine industry. This will further increase shipbuilding capacity and fuel the demand for marine lubricants.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View the Free PDF Sample Report
Marine Lubricants Market 2023-2027: Key Highlights
- Historic Market Size 2017-2021
- CAGR of the market during 2023-2027
- Detailed information on factors that will assist marine lubricants market growth during the next five years
- Estimation of the marine lubricants market and its contribution to the parent market.
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the marine lubricants market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of marine lubricants market companies
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The aviation lubricants market is projected to grow by USD 887.13 million with a CAGR of 6.1% during the forecast period 2021 to 2026.
The industrial lubricants market size is estimated to grow at a CAGR of 3.73% between 2022 and 2027. The market size is forecast to increase by USD 12.49 billion.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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