The Marine Lubricants Market size is estimated at 2.53 Billion liters in 2024, and is expected to reach 2.79 Billion liters by 2029, growing at a CAGR of 1.97% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. It was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
The marine lubricants market is partially consolidated in nature. Some of the key players in the market (not in a particular order) include Exxon Mobil Corporation, BP p.l.c. (Castrol), Shell PLC, Chevron Corporation, and TotalEnergies, among others.
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