Marine lubricants are especially designed performance additives for ship engines for optimal performances in the marine operations. They are used to protect engines and equipment from wear corrosion and to enhance the efficiency of the machinery in the shipping industry. In addition, marine lubricants offer improved performance and machinery reliability, extended engine life, and protection of components at higher temperatures.
MARKET DYNAMICS
The marine lubricants market is anticipated to grow in the forecast period owing to the rapid infrastructural developments taking place globally in the shipping industries and growing shipbuilding activities in the developing nations in particular. Furthermore, rising demand for marine transport and emission abatement technologies are other major drivers responsible for the growth of the marine lubricants market. However, economic instability in shipbuilding economies and volatility in the crude oil prices are some factors hindering the growth of the marine lubricants market. On the other hand, increasing demands for bio-based lubricants and shift from group I to group II base oils in marine applications offer lucrative opportunities for the marine lubricants market during the forecast period.
MARKET SCOPE
The "Global Marine Lubricants Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of marine lubricants market with detailed market segmentation by oil type, product type, ship type, and geography. The global marine lubricants market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading marine lubricants market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global marine lubricants market is segmented on the basis of oil type, product type, and ship type. Based on oil type, the market is segmented as mineral oil, synthetic, bio-based, and grease. By product type, the market is classified as engine oil, hydraulic fluid, compressor oil, and others. On the basis of the ship type, the market is segmented as bulk carriers, tankers, container ships, and others.
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REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global marine lubricants market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The marine lubricants market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting marine lubricants market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the marine lubricants market in these regions.
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MARKET PLAYERSThe reports cover key developments in the marine lubricants market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from marine lubricants market are anticipated to lucrative growth opportunities in the future with the rising demand for marine lubricants in the global market. Below mentioned is the list of few companies engaged in the marine lubricants market.
The report also includes the profiles of key marine lubricants companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
-Aegean Marine Petroleum Network Inc.
-BP plc
-Chevron Corporation
-Exxon Mobil Corporation
-Idemitsu Kosan Co., Ltd.
-Indian Oil Corporation Ltd
-LUKOIL Marine Lubricants Ltd.
-Shell International B.V.
-Sinopec Corp.
-Total S.A.
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