Growth Factors of Marine Lubricants Market
The Marine Lubricants Market size was valued at USD 8.01 billion in 2018. The market is projected tgrow from USD 253.65 million in 2032, exhibiting a CAGR of 2.13% during the forecast period of 2019-2032.
The COVID-19 pandemic had a poor impact at the marine lubricants marketplace due treduced international change, supply chain disruptions, and a decline in maritime activities. Restrictions on worldwide delivery and lower demand for items caused fewer vessel operations, at once impacting lubricant intake. Ship preservation schedules have been delayed, similarly lowering demand. Additionally, oil fee volatility and manufacturing halts exacerbated challenges for lubricant producers. The pandemic's economic stress on industries like transport and logistics intensified market uncertainties. Recovery within the marine lubricants marketplace is anticipated as international exchange resumes, supported with the aid of sluggish stabilization within the maritime and logistics sectors.
A extraordinary trend in the marine lubricants market is the industry's model tfuture fuels, consisting of very low sulphur gas oil (VLSFO). The creation of VLSFO has led tgiant modifications, such as the categorization of cylinder oils intcategories I and II. This shift necessitates the development of specialised lubricants tailor-made tthe specific homes of these new fuels, ensuring finest engine overall performance and compliance with environmental policies.
A key riding factor within the marine lubricants market is the developing attention on improving vessel performance and complying with stringent environmental regulations. Increasing adoption of environmentally suitable lubricants (EALs) and low-sulfur fuels, driven with the aid of policies like IMO 2020, has boosted the demand for superior marine lubricants. These lubricants help reduce emissions, beautify engine overall performance, and limit put on and tear, assisting compliance with international environmental requirements. Additionally, the expansion of maritime trade and the need for green vessel operations fuel marketplace boom. Technological improvements in lubricant formulations further contribute tmeeting the evolving demands of the shipping industry.
Comprehensive Analysis of Marine Lubricants Market
The Marine Lubricants Market growth is rising at an exponential rate due tits marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by product include marine cylinder oil, piston engine oil, system oil and others; by ship type include bulk carrier, oil tankers, general cargo, container ships, others.
The North America location lead the Marine Lubricants Market share percentage via benefitting a marketplace size of USD 220.43 million due t the low number of ship ownership in the region.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, BP p.l.c., Royal Dutch Shell Plc, Repsol S.A., Gazprom Neft PJSC, AvinOil S.A., SINOPEC, CEPSA.
November 2019: Royal Dutch Shell Plc, a Netherlands-based totally strong point chemical compounds producer, partnered with China COSCO Shipping Company Limited tdeliver marine lubricants for five multi-motive pulp providers till the cease of 2020. Under this agreement, Shell furnished numerous cylinder oil lubricants, improving operational performance and strengthening its presence inside the marine lubricants marketplace.
Segmentation Table
ATTRIBUTE DETAILS
Study Period - 2015-2026
Base Year - 2018
Forecast Period - 2019-2026
Historical Period - 2015-2017
Unit - Value (USD Million) and Volume (KilTons)
Segmentation By Product
- Marine Cylinder oil
- Piston Engine Oil
- System Oil
- Other
- Bulk Carrier
- Oil Tankers
- General Cargo
- Container Ships
- Others
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Netherlands, Spain, Belgium, Russia, and the Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Indonesia, Singapore, and the Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- Middle East & Africa (GCC, Turkey, South Africa, and the Rest of the Middle East & Africa)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Trends
- 4.2. Overview of Global Marine Lubricants Production
- 5. Global Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Marine Cylinder oil
- 5.2.2. Piston Engine Oil
- 5.2.3. System Oil
- 5.2.4. Other
- 5.3. Market Analysis, Insights and Forecast – By Ship type
- 5.3.1. Bulk Carrier
- 5.3.2. Oil Tankers
- 5.3.3. General Cargo
- 5.3.4. Container Ships
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Marine Cylinder oil
- 6.2.2. Piston Engine Oil
- 6.2.3. System Oil
- 6.2.4. Other
- 6.3. Market Analysis, Insights and Forecast – By Ship type
- 6.3.1. Bulk Carrier
- 6.3.2. Oil Tankers
- 6.3.3. General Cargo
- 6.3.4. Container Ships
- 6.3.5. Others
- 6.4. Market Analysis – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
- 7. Europe Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Marine Cylinder oil
- 7.2.2. Piston Engine Oil
- 7.2.3. System Oil
- 7.2.4. Other
- 7.3. Market Analysis, Insights and Forecast – By Ship type
- 7.3.1. Bulk Carrier
- 7.3.2. Oil Tankers
- 7.3.3. General Cargo
- 7.3.4. Container Ships
- 7.3.5. Others
- 7.4. Market Analysis – By Country
- 7.4.1. Germany
- 7.4.2. U.K.
- 7.4.3. France
- 7.4.4. Netherlands
- 7.4.5. Belgium
- 7.4.6. Spain
- 7.4.7. Russia
- 7.4.8. Rest of Europe
- 8. Asia Pacific Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Marine Cylinder oil
- 8.2.2. Piston Engine Oil
- 8.2.3. System Oil
- 8.2.4. Other
- 8.3. Market Analysis, Insights and Forecast – By Ship type
- 8.3.1. Bulk Carrier
- 8.3.2. Oil Tankers
- 8.3.3. General Cargo
- 8.3.4. Container Ships
- 8.3.5. Others
- 8.4. Market Analysis – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. South Korea
- 8.4.5. Singapore
- 8.4.6. Indonesia
- 8.4.7. Rest of Asia Pacific
- 9. Latin America Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Marine Cylinder oil
- 9.2.2. Piston Engine Oil
- 9.2.3. System Oil
- 9.2.4. Other
- 9.3. Market Analysis, Insights and Forecast – By Ship type
- 9.3.1. Bulk Carrier
- 9.3.2. Oil Tankers
- 9.3.3. General Cargo
- 9.3.4. Container Ships
- 9.3.5. Others
- 9.4. Market Analysis – By Country
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 10. Middle East & Africa Marine Lubricants Market Analysis, Insights and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Product
- 10.2.1. Marine Cylinder oil
- 10.2.2. Piston Engine Oil
- 10.2.3. System Oil
- 10.2.4. Other
- 10.3. Market Analysis, Insights and Forecast – By Ship type
- 10.3.1. Bulk Carrier
- 10.3.2. Oil Tankers
- 10.3.3. General Cargo
- 10.3.4. Container Ships
- 10.3.5. Others
- 10.4. Market Analysis – By Country
- 10.4.1. GCC
- 10.4.2. Turkey
- 10.4.3. South Africa
- 10.4.4. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 11.1.1. Exxon Mobil Corporation
- 11.1.1.1. Overview,
- 11.1.1.2. Products & services,
- 11.1.1.3. SWOT analysis,
- 11.1.1.4. Recent developments,
- 11.1.1.5. strategies,
- 11.1.1.6. financials (based on availability)
- 11.1.2. BP p.l.c.
- 11.1.2.1. Overview,
- 11.1.2.2. Products & services,
- 11.1.2.3. SWOT analysis,
- 11.1.2.4. Recent developments,
- 11.1.2.5. strategies,
- 11.1.2.6. financials (based on availability)
- 11.1.3. Royal Dutch Shell Plc
- 11.1.3.1. Overview,
- 11.1.3.2. Products & services,
- 11.1.3.3. SWOT analysis,
- 11.1.3.4. Recent developments,
- 11.1.3.5. strategies,
- 11.1.3.6. financials (based on availability)
- 11.1.4. Total SA
- 11.1.4.1. Overview,
- 11.1.4.2. Products & services,
- 11.1.4.3. SWOT analysis,
- 11.1.4.4. Recent developments,
- 11.1.4.5. strategies,
- 11.1.4.6. financials (based on availability)
- 11.1.5. Chevron Corporation
- 11.1.5.1. Overview,
- 11.1.5.2. Products & services,
- 11.1.5.3. SWOT analysis,
- 11.1.5.4. Recent developments,
- 11.1.5.5. strategies,
- 11.1.5.6. financials (based on availability)
- 11.1.6. The PJSC Lukoil Oil Company
- 11.1.6.1. Overview,
- 11.1.6.2. Products & services,
- 11.1.6.3. SWOT analysis,
- 11.1.6.4. Recent developments,
- 11.1.6.5. strategies,
- 11.1.6.6. financials (based on availability)
- 11.1.7. Croda International Plc
- 11.1.7.1. Overview,
- 11.1.7.2. Products & services,
- 11.1.7.3. SWOT analysis,
- 11.1.7.4. Recent developments,
- 11.1.7.5. strategies,
- 11.1.7.6. financials (based on availability)
- 11.1.8. Eni oil Products
- 11.1.8.1. Overview,
- 11.1.8.2. Products & services,
- 11.1.8.3. SWOT analysis,
- 11.1.8.4. Recent developments,
- 11.1.8.5. strategies,
- 11.1.8.6. financials (based on availability)
- 11.1.9. Repsol S.A.
- 11.1.9.1. Overview,
- 11.1.9.2. Products & services,
- 11.1.9.3. SWOT analysis,
- 11.1.9.4. Recent developments,
- 11.1.9.5. strategies,
- 11.1.9.6. financials (based on availability)
- 11.1.10. Gazprom Neft PJSC
- 11.1.10.1. Overview,
- 11.1.10.2. Products & services,
- 11.1.10.3. SWOT analysis,
- 11.1.10.4. Recent developments,
- 11.1.10.5. strategies,
- 11.1.10.6. financials (based on availability)
- 11.1.11. AvinOil S.A.
- 11.1.11.1. Overview,
- 11.1.11.2. Products & services,
- 11.1.11.3. SWOT analysis,
- 11.1.11.4. Recent developments,
- 11.1.11.5. strategies,
- 11.1.11.6. financials (based on availability)
- 11.1.12. SINOPEC
- 11.1.12.1. Overview,
- 11.1.12.2. Products & services,
- 11.1.12.3. SWOT analysis,
- 11.1.12.4. Recent developments,
- 11.1.12.5. strategies,
- 11.1.12.6. financials (based on availability)
- 11.1.13. CEPSA
- 11.1.13.1. Overview,
- 11.1.13.2. Products & services,
- 11.1.13.3. SWOT analysis,
- 11.1.13.4. Recent developments,
- 11.1.13.5. strategies,
- 11.1.13.6. financials (based on availability)
- 11.1.14. Other Key Players
- 11.1.14.1. Overview,
- 11.1.14.2. Products & services,
- 11.1.14.3. SWOT analysis,
- 11.1.14.4. Recent developments,
- 11.1.14.5. strategies,
- 11.1.14.6. financials (based on availability)
- 12. Strategic Recommendations
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