Marine Lubricants Market to Reach $10.5 Billion by 2031, Fueled by Shipping Industry Demand, Eco-friendly Solutions, and Maritime Sector Growth

Global marine lubricants market will reach $ 10,473.3 million by 2031, growing by 3.5% annually over 2021-2031, driven by the increasing demand for marine lubricants from the shipping industry and its increasing maintenance cost for fuel-saving and cost reduction, the increasing expenditure in marine defense vessels, an increase in demand for bio-based eco-friendly marine lubricants, the emerging emission abatement technologies, and the growth in maritime tourism and the infrastructural developments. In terms of demand volume (thousand tons), the global market is expected to grow at a 2021-2031 CAGR of 2.7%.

Highlighted with 83 tables and 100 figures, this 184-page report “Global Marine Lubricants Market 2021-2031 by Product Type (Mineral, Synthetic, Bio-Based, Grease), Application (Engine, Motors, Gear, Hydraulic, Air Compressor, Others), End Use (Bulk Carriers, Tankers, Container Ships, General Cargo, Others), and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global marine lubricants market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides a forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include the identification and investigation of the following aspects:

Market Structure

Growth Drivers

Restraints and Challenges

Emerging Product Trends & Market Opportunities

Porter’s Fiver Forces

The trend and outlook of the global market are forecast in an optimistic, balanced, and conservative view by taking into account COVID-19 and the Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify the global marine lubricants market in every aspect of the classification from perspectives of Product Type, Application, End Use, and Region.

Based on Product Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

Mineral Oil

Synthetic Oil

Bio-Based Oil

Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

Engine System

Motors & Auxiliaries

Gear System

Hydraulic System

Air Compressor

Other Applications

By End Use, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

Bulk Carriers

Tankers

Container Ships

General Cargo

Other End Uses

Geographically, the following regions together with the listed national/local markets are fully investigated:

North America (U.S., Canada, and Mexico)

Europe (Germany, UK, Finland, Norway, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, France, Spain and Denmark)

APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

South America (Argentina, Brazil, Panama and Rest of South America)

MEA (Egypt, Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product Type, Application and End Use over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

BP Plc

Castrol

Chevron Corporation

Eni S.p.A

ExxonMobil Corporation

Fuchs Lubritech GmbH

Gulf Oil International Ltd.

Idemitsu Kosan Co., Ltd.

Indian Oil Corporation Ltd.

Jx Nippon Oil & Energy Corporation

Kluber Lubrication

LUKOIL Lubricants Company

Penrite Oil

PJSC Lukoil Oil Corporation

QUEPET Lubricants

Repsol SA

Shell plc

Sinopec Corporation

TotalEnergies SE

Valvoline Inc.

View Other Regional Reports Related to Marine Lubricants Industry:

North America Europe Marine Lubricants Market Research Report 2022-2032

Europe Marine Lubricants Market Research Report 2022-2032

Asia Pacific Marine Lubricants Market Research Report 2022-2032

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