Market Overview

Global Marine Lubricants Market Forecast to 2023 - Increasing Demand for Bio-Based Marine Lubricants & Shift From Group-I to Group-II Base Stocks

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Global Marine Lubricants Market Forecast to 2023 - Increasing Demand for Bio-Based Marine Lubricants & Shift From Group-I to Group-II Base Stocks

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DUBLIN, Aug 22, 2018 /PRNewswire/ --

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The "Marine Lubricants Market by Oil Type (Mineral Oil, Synthetic, Bio-based, and Grease), Product Type (Engine oil, Hydraulic fluid, Compressor oil), Ship Type (Bulk Carrier, Tanker, Container), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global marine lubricants market is estimated to be USD 5.98 billion in 2018 and is projected to reach USD 6.66 billion by 2023, at a CAGR of 2.17% from 2018 to 2023.

The increasing demand for emerging alternative technologies is expected to drive the growth of the global marine lubricants market.

Based on oil type, the global marine lubricants market has been segmented into mineral oil, synthetic, bio-based, and grease. The synthetic segment is projected to grow at the highest CAGR during the forecast period due to the growing demand for highly efficient, durable, and environmentally friendly products. Stringent safety norms have been introduced by various governments to control the high sulfur and nitrogen emissions into the sea by the use of mineral oil. These emissions not only harm aquatic life and the environment but also damage the ozone layer, thus increasing the need to switch to less toxic synthetic and bio-based products.

Based on product type, the global marine lubricants market has been segmented into engine oil, hydraulic fluid, compressor oil, and others. The compressor oil segment is projected to grow at the highest CAGR during the forecast period due to the rising demand from refrigeration and air compressors in the currently plying large ships. Additionally, there is a growing demand for luxury and cruise ships, leading to a significant increase in demand for better cooling systems for use in these ships/vessels, which subsequently translates into a demand for refrigeration compressor oil.

Based on ship type, the global marine lubricants market has been segmented into bulk carrier, tanker, container ship, and others. The bulk carrier and tanker segments together accounted for the major share of the marine lubricants market in 2017, in terms of consumption, due to their huge numbers. The trade carried out mainly includes the movement of raw materials, crude oil & petroleum products, and manufactured goods, which are transported through these two ship types.

Based on region, the global marine lubricants market has been classified into APAC, Europe, North America, Middle East & Africa, and Central & South America. APAC was the largest market for marine lubricants in 2017 and is projected to lead the global marine lubricants market during the forecast period. The APAC marine lubricants market is largely driven by the presence of the world's busiest ports in the region, in countries such as China, Singapore, and Hong Kong. Increasing trade activities and rising infrastructural developments in the shipping industry (in the form of increasing network of ports) are primarily responsible for the high demand of marine lubricants in the region.

Some of the key players operating in the global marine lubricants market include BP plc (UK), Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (US), Chevron Corporation (US), Sinopec Corporation (China), PJSC Lukoil (Russia), Idemitsu Kosan Co., Ltd. (Japan), and Total S.A. (France).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Significant Growth Opportunities in the Marine Lubricants Market
4.2 Marine Lubricants Market, By Oil Type, 2018-2023
4.3 APAC Marine Lubricants Market Share, By Country and Product Type, 2017
4.4 Marine Lubricants Market, By Region
4.5 Marine Lubricants Market, By Ship Type

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Infrastructural Developments Strengthening the Shipping Industry
5.2.1.2 Emerging Emission Abatement Technologies
5.2.2 Restraints
5.2.2.1 Slowdown in Trade Activities Leading to Rising Number of Idle Ships
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Bio-Based Marine Lubricants
5.2.3.2 Shift From Group-I to Group-II Base Stocks
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry

6 Industry Insights and Trends

6.1 Key Insights
6.2 Free Trade Areas Around the World
6.3 Annual Container Throughput of Key Ports
6.4 World Fleet
6.4.1 By Vessel Type
6.4.2 By Power
6.5 Fuel Quality Trends
6.6 Emission Abatement Technological Trends
6.6.1 Exhaust Gas Cleaning Systems (EGCS)
6.6.2 Exhaust Gas Recirculation (EGR)
6.6.3 Selective Catalytic Reduction (SCR)
6.7 Emission Regulations
6.8 Industrial Growth & Outlook
6.8.1 Shipping Industry

7 Marine Lubricants Market, By Oil Type

7.1 Introduction
7.2 Mineral Oil
7.3 Synthetic
7.4 Bio-Based
7.5 Grease

8 Marine Lubricants Market, By Product Type

8.1 Introduction
8.2 Engine Oil
8.2.1 Cylinder Oil
8.2.2 System Oil
8.3 Hydraulic Fluid
8.4 Compressor Oil
8.5 Others

9 Marine Lubricants Market, By Ship Type

9.1 Introduction
9.1.1 Bulk Carriers
9.1.2 Tankers
9.1.3 Container Ships
9.1.4 Others

10 Marine Lubricants Market, By Region

10.1 Introduction
10.2 APAC
10.2.1 Mineral Oil Dominates the Overall APAC Marine Lubricants Market
10.2.2 Marine Lubricants Market for Compressor Oil to Witness the Highest CAGR
10.2.3 China Accounts for A Major Share of the APAC Marine Lubricants Market
10.2.3.1 China
10.2.3.2 Singapore
10.2.3.3 Hong Kong
10.2.3.4 South Korea
10.2.3.5 Malaysia
10.2.3.6 Japan
10.3 Europe
10.3.1 Mineral Oil Segment Accounts for the Largest Share of European Marine Lubricants Market
10.3.2 Engine Oil Holds the Largest Share of the Overall European Marine Lubricants Market
10.3.3 Germany Accounts for A Major Share of the European Marine Lubricants Market
10.3.3.1 Germany
10.3.3.2 Netherlands
10.3.3.3 Belgium
10.3.3.4 Spain
10.3.3.5 UK
10.3.3.6 Russia
10.4 North America
10.4.1 Synthetic Marine Lubricant Market to Witness Highest Growth in North America Market
10.4.2 Compressor Oil to Be Fastest-Growing Segment of the Marine Lubricants Market in North America
10.4.3 US Accounts for Maximum Share of the Marine Lubricants Market in North America
10.4.3.1 US
10.4.3.2 Canada
10.4.3.3 Mexico
10.5 Middle East & Africa
10.5.1 Synthetic Marine Lubricants to Be Fastest-Growing Segment of the Marine Lubricants Market in Middle East & Africa
10.5.2 Engine Oil Dominates the Marine Lubricants Market in Middle East & Africa
10.5.3 UAE is the Largest Marine Lubricants Market in the Middle East & Africa
10.5.3.1 UAE
10.5.3.2 Saudi Arabia
10.5.3.3 South Africa
10.6 Central & South America
10.6.1 Synthetic Marine Lubricants to Be the Fastest-Growing Segment of the Marine Lubricants Market in Central & South America
10.6.2 Compressor Oil to Register the Highest CAGR in the Marine Lubricants Market in Central & South America
10.6.3 Brazil is the Major Consumer of Marine Lubricants in Central & South America
10.6.3.1 Panama
10.6.3.2 Brazil

11 Competitive Landscape

11.1 Overview
11.2 Market Share Analysis of Key Players
11.3 Competitive Scenario
11.3.1 Expansion
11.3.2 New Product Launch
11.3.3 Contract & Agreement
11.3.4 Merger & Acquisition

12 Company Profiles

  • BP PLC.
  • Chevron Corporation
  • Exxonmobil Corporation
  • Royal Dutch Shell PLC.
  • Total S.A.
  • Lukoil
  • Aegean Marine Petroleum Network Inc.
  • Idemitsu Kosan Co., Ltd.
  • Indian Oil Corporation Ltd.
  • Sinopec Corporation
  • Avin Oil S.A.
  • Fuchs Petrolub Se
  • Gulf Oil International
  • H&R GmbH & Co. KGaA
  • JX Nippon Oil & Energy Corporation
  • Petronas Lubricants International
  • Quepet Lubricants
  • Stanley Group
  • Unimarine LLC
  • Vickers Oil
  • World Fuel Service Corporation

For more information about this report visit https://www.researchandmarkets.com/research/7zh8tb/global_marine?w=5

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