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Published Date: 2017-05-08Number of Pages: 195

Marine Lubricants Market (Product Type - Mineral Oil, Synthetic Oil, and Bio-based Oil; Application - Engine Oil, Hydraulic Oil, Gear Oil, Turbine Oil, Heat Transfer Fluids (HTFs), Compressor Oil, and Grease; Operation - Inland and Offshore Operation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Global Marine Lubricants Market: Snapshot

The global market for marine lubricants is experiencing a significant rise in its size and valuation, thanks to the increasing need to improve the output efficiency of machine parts and their output efficiency. With the increasing demand for group II and group III base oil, manufacturers are prompted to produce more base oil, which is reflecting greatly on this market.

On the other hand, the inadequate supply of bright stock material has propelled the discovery of alternatives, which are likely to hamper the growth of this market in the near future. The shortage of supply is also expected to limit this market over the next few years. In 2015, the global marine lubricants market was worth US$2.32 bn. Expanding at a CAGR of 4.17% from 2016 to 2024, the market’s opportunity is projected to touch US$3.33 bn by the end of 2024.

 

global marine lubricants market

 

Asia Pacific to Retain Supremacy over Global Marine Lubricants Market

Among the regional markets for marine lubricants, Asia Pacific emerged as the market leader in 2015, with a share of more than 51%. Thanks to the vast requirement for marine lubricants in this region, the trend is expected to remain so over the next few years. The presence of a large pool of ports in Asia Pacific, primarily in China and the ASEAN countries is another important factor behind the growth of the Asia Pacific market for marine lubricants. Several economies, such as China, Japan, India, Singapore, Indonesia, Philippines, and Australia, are anticipated to contribute to the rising demand for marine lubricants significantly in this region over the forthcoming years.

Europe is another prominent regional market for marine lubricants. The U.K., Russia, and Germany are the key contributors to this market, among which, the U.K. has acquired the leading position. The number of ships using inland waterways is higher in Europe than in other regions due to the presence of extensive inland waterways in countries, such as France, Germany, Belgium, Netherlands, as well as in Russia. This, as a result, is projected to boost the Europe market for marine lubricants in the years to come.

Mineral Oil to Report High Demand

Based on the type of product, the global market for marine lubricants is segmented into mineral oil, synthetic oil, and bio-based oil. The demand for mineral oil is much higher than the other two and the trend is anticipated to continue in the years to come. Synthetic oil is also gaining significant momentum across the world due to the cost benefits it offers and is expected to surface as the most attractive segment in the global market over the forthcoming years.

In terms of the operation, the market is classified into inland and offshore. The offshore segment has been leading the overall market due to the widespread application of offshore waterways in transportation and ocean fish farming. The scenario is expected to remain so over the next few years, thanks to the increasing operations of naval fleets across the world.

ExxonMobil Corp., Chevron Corp., Royal Dutch Shell Plc, Petroliam Nasional Berhad, BP Plc, Gulf Oil Marine Ltd., FUCHS, Idemitsu Kosan Co. Ltd., JXTG Nippon Oil & Energy Corp., QUEPET Lubricants, China Petrochemical Corp., Total Group, and LUKOIL Marine Lubricants DMCC are some of the prominent vendors of marine lubricants across the world.

1. Preface
     1.1. Report Scope and Market Segmentation
     1.2. Research Highlights

2. Assumptions and Research Methodology
     2.1. Report Assumptions
     2.2. Secondary Sources and Acronyms Used
     2.3. Research Methodology

3. Executive Summary
     3.1. Market Snapshot
     3.2. Top Trends

4. Market Overview
     4.1. Product Overview
     4.2. Market Indicators
     4.3. Drivers and Restraints Snapshot Analysis
           4.3.1. Drivers
           4.3.2. Restraints
           4.3.3. Opportunities
     4.4. Global Marine Lubricants Market Analysis and Forecast
     4.5. Porter’s Analysis
           4.5.1. Threat of Substitutes
           4.5.2. Bargaining Power of Buyers
           4.5.3. Bargaining Power of Suppliers
           4.5.4. Threat of New Entrants
           4.5.5. Degree of Competition
     4.6. Value Chain Analysis
     4.7. Global Marine Lubricants Market Outlook, 2015

5. Marine Lubricants Market Analysis, by Product
     5.1. Introduction
     5.2. Key Findings
     5.3. Product Comparison Matrix
     5.4. Global Marine Lubricants Market Value Share Analysis, by Product
     5.5. Global Marine Lubricants Market Forecast and Analysis, By Product
           5.5.1. Mineral oil
           5.5.2. Synthetic oil
           5.5.3. Bio-based oil
     5.6. Global Marine Lubricants Market Attractiveness Analysis, by Product
     5.7. Key Trends

6. Marine Lubricants Market Analysis, by Application
     6.1. Introduction
     6.2. Key Findings
     6.3. Global Marine Lubricants Market Value Share Analysis, by Application
     6.4. Global Marine Lubricants Market Forecast and Analysis, by Application
           6.4.1. Engine oil
           6.4.2. Hydraulic oil
           6.4.3. Turbine oil
           6.4.4. Gear oil
           6.4.5. Heat Transfer Fluids
           6.4.6. Compressor oil
           6.4.7. Grease
           6.4.8. Others
     6.5. Global Marine Lubricants Market Attractiveness Analysis, by Application
     6.6. Key Trends

7. Marine Lubricants Market Analysis, by Operation Type
     7.1. Introduction
     7.2. Key Findings
     7.3. Global Marine Lubricants Market Value Share Analysis, by Operation Type
     7.4. Global Marine Lubricants Market Forecast and Analysis, by Operation Type
           7.4.1. Inland
           7.4.2. Offshore
     7.5. Global Marine Lubricants Market Attractiveness Analysis, by Operation Type

8. Global Marine Lubricants Market Analysis by Region
     8.1. Global Market Consumption (Kilo Tons) in 2015 and Growth Scenario, by Region
     8.2. Key Findings
     8.3. Global Marine Lubricants Market Value Share Analysis, by Region
     8.4. Global Marine Lubricants Market Forecast, by Region
           8.4.1. North America
           8.4.2. Latin America
           8.4.3. Europe
           8.4.4. Asia Pacific
           8.4.5. Middle East and Africa
     8.5. Global Marine Lubricants Market Attractiveness Analysis, by Region

9. North America Marine Lubricants Market Analysis
     9.1. Key Findings
     9.2. North America Marine Lubricants Market Overview
     9.3. North America Marine Lubricants Market Value Share Analysis, by Product
     9.4. North America Marine Lubricants Market Forecast, by Product
     9.5. North America Marine Lubricants Market Value Share Analysis, by Application
     9.6. North America Marine Lubricants Market Forecast, by Application
     9.7. North America Marine Lubricants Market Value Share Analysis, by Operation Type
     9.8. North America Marine Lubricants Market Forecast, by Operation Type
     9.9. North America Marine Lubricants Market Value Share Analysis, by Country
     9.10. North America Marine Lubricants Market Forecast, by Country
           9.10.1. U.S.
           9.10.2. Canada
     9.11. North America Marine Lubricants Market Attractiveness Analysis
     9.12. Market Trends

10. Latin America Marine Lubricants Market Analysis
     10.1. Key Findings
     10.2. Latin America Marine Lubricants Market Overview
     10.3. Latin America Marine Lubricants Market Value Share Analysis, by Product
     10.4. Latin America Marine Lubricants Market Forecast, by Product
     10.5. Latin America Marine Lubricants Market Value Share Analysis, by Application
     10.6. Latin America Marine Lubricants Market Forecast, by Application
     10.7. Latin America Marine Lubricants Market Value Share Analysis, by Operation Type
     10.8. Latin America Marine Lubricants Market Forecast, by Operation Type
     10.9. Latin America Marine Lubricants Market Value Share Analysis, by Country/Sub-region
     10.10. Latin America Marine Lubricants Market Forecast, by Country/Sub-region
           10.10.1. Brazil
           10.10.2. Mexico
           10.10.3. Rest of Latin America
     10.11. Latin America Marine Lubricants Market Attractiveness Analysis
     10.12. Market Trends

11. Europe Marine Lubricants Market Analysis
     11.1. Key Findings
     11.2. Europe Marine Lubricants Market Overview
     11.3. Europe Marine Lubricants Market Value Share Analysis, by Product
     11.4. Europe Marine Lubricants Market Forecast, by Product
     11.5. Europe Marine Lubricants Market Value Share Analysis, by Application
     11.6. Europe Marine Lubricants Market Forecast, by Application
     11.7. Europe Marine Lubricants Market Value Share Analysis, by Operation Type
     11.8. Europe Marine Lubricants Market Forecast, by Operation Type
     11.9. Europe Marine Lubricants Market Value Share Analysis, by Country/Sub-region
     11.10. Europe Marine Lubricants Market Forecast, by Country/Sub-region
           11.10.1. Germany
           11.10.2. France
           11.10.3. U.K.
           11.10.4. Spain
           11.10.5. Italy
           11.10.6. Rest of Europe
     11.11. Europe Marine Lubricants Market Attractiveness Analysis
     11.12. Market Trends

12. Asia Pacific Marine Lubricants Market Analysis
     12.1. Key Findings
     12.2. Asia Pacific Marine Lubricants Market Overview
     12.3. Asia Pacific Marine Lubricants Market Value Share Analysis, by Product
     12.4. Asia Pacific Marine Lubricants Market Forecast, by Product
     12.5. Asia Pacific Marine Lubricants Market Value Share Analysis, by Application
     12.6. Asia Pacific Marine Lubricants Market Forecast, by Application
     12.7. Asia Pacific Marine Lubricants Market Value Share Analysis, by Operation Type
     12.8. Asia Pacific Marine Lubricants Market Forecast, by Operation Type
     12.9. Asia Pacific Marine Lubricants Market Value Share Analysis, by Country/Sub-region
     12.10. Asia Pacific Marine Lubricants Market Forecast, by Country/Sub-region
           12.10.1. China
           12.10.2. Japan
           12.10.3. India
           12.10.4. ASEAN
           12.10.5. Rest of Asia Pacific
     12.11. Asia Pacific Marine Lubricants Market Attractiveness Analysis
     12.12. Market Trends

13. Middle East & Africa Marine Lubricants Market Analysis
     13.1. Key Findings
     13.2. Middle East & Africa Marine Lubricants Market Overview
     13.3. Middle East & Africa Marine Lubricants Market Value Share Analysis, by Product
     13.4. Middle East & Africa Marine Lubricants Market Forecast, by Product     
     13.5. Middle East & Africa Marine Lubricants Market Value Share Analysis, by Application
     13.6. Middle East & Africa Marine Lubricants Market Forecast, by Application
     13.7. Middle East & Africa Marine Lubricants Market Value Share Analysis, by Operation Type
     13.8. Middle East & Africa Marine Lubricants Market Forecast, by Operation Type
     13.9. Middle East & Africa Marine Lubricants Market Value Share Analysis, by Country/Sub-region
     13.10. Middle East & Africa Marine Lubricants Market Forecast, by Country/Sub-region
           13.10.1. GCC
           13.10.2. South Africa
           13.10.3. Rest of Europe
     13.11. Middle East & Africa Marine Lubricants Market Attractiveness Analysis
     13.12. Market Trends

14. Competition Landscape
     14.1. Global Marine Lubricants Market Share Analysis, by Company (2015)
     14.2. Company Competition Matrix
     14.3. Company Profiles
           14.3.1. LUKOIL Marine Lubricants DMCC
                     14.3.1.1. Company Description
                     14.3.1.2. Business Overview
                     14.3.1.3. SWOT Analysis
                     14.3.1.4. Strategic Overview
           14.3.2. Total Group
                     14.3.2.1. Company Description
                     14.3.2.2. Business Overview
                     14.3.2.3. SWOT Analysis
                     14.3.2.4. Strategic Overview
           14.3.3. China Petrochemical Corporation
                     14.3.3.1. Company Description
                     14.3.3.2. Business Overview
                     14.3.3.3. SWOT Analysis
                     14.3.3.4. Strategic Overview
           14.3.4. QUEPET Lubricants
                     14.3.4.1. Company Description
                     14.3.4.2. Business Overview
           14.3.5. JXTG Nippon Oil & Energy Corporation
                     14.3.5.1. Company Description
                     14.3.5.2. Business Overview
                     14.3.5.3. SWOT Analysis
                     14.3.5.4. Strategic Overview
           14.3.6. Idemitsu Kosan Co., Ltd.
                     14.3.6.1. Company Description
                     14.3.6.2. Business Overview
                     14.3.6.3. SWOT Analysis
                     14.3.6.4. Strategic Overview
           14.3.7. FUCHS
                     14.3.7.1. Company Description
                     14.3.7.2. Business Overview
                     14.3.7.3. SWOT Analysis
                     14.3.7.4. Strategic Overview
           14.3.8. Gulf Oil Marine Ltd.
                     14.3.8.1. Company Description
                     14.3.8.2. Business Overview
           14.3.9. BP p.l.c.
                     14.3.9.1. Company Description
                     14.3.9.2. Business Overview
                     14.3.9.3. SWOT Analysis
                     14.3.9.4. Strategic Overview
           14.3.10. Petroliam Nasional Berhad (PETRONAS)
                     14.3.10.1. Company Description
                     14.3.10.2. Business Overview
                     14.3.10.3. SWOT Analysis
                     14.3.10.4. Strategic Overview
           14.3.11. Royal Dutch Shell plc
                     14.3.11.1. Company Description
                     14.3.11.2. Business Overview
                     14.3.11.3. SWOT Analysis
                     14.3.11.4. Strategic Overview
           14.3.12. Chevron Corporation
                     14.3.12.1. Company Description
                     14.3.12.2. Business Overview
           14.3.13. ExxonMobil Corporation
                     14.3.13.1. Company Description
                     14.3.13.2. Business Overview
                     14.3.13.3. SWOT Analysis
                     14.3.13.4. Strategic Overview

15. Key Takeaways

List of Figures

Figure 01: Market Snapshot
Figure 02: Proportion by Region, 2015
Figure 03: Share of Asia Pacific in Terms of Consumption, 2015–2024
Figure 04: Global Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Analysis, 2015–2024
Figure 05: Global Marine Lubricants Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
Figure 06: Global Marine lubricants Market, Pricing – Actuals & Projections (US$/Ton), 2015-2024
Figure 07: Regional Base Oil Supply, 2020
Figure 08: Global Marine Lubricants Market Volume Share, by Product, 2015
Figure 09: Global Marine Lubricants Market Value Share, by Application, 2015
Figure 10: Global Marine Lubricants Market Value Share, by Operation Type, 2015
Figure 11: Global Marine Lubricants Market Volume Share, by Region, 2015
Figure 12: Global Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 13: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Mineral Oil, 2015–2024
Figure 14: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Synthetic Oil, 2015–2024
Figure 15: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Bio-based Oil, 2015–2024
Figure 16: Global Marine Lubricants Market Attractiveness Analysis, by Product
Figure 17: Global Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 18: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Engine Oil, 2015–2024
Figure 19: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Hydraulic Oil, 2015–2024
Figure 20: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Turbine Oil, 2015–2024
Figure 21: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Gear Oil, 2015–2024
Figure 22: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by HTFs, 2015–2024
Figure 23: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Compressor Oil, 2015–2024
Figure 24: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Grease, 2015–2024
Figure 25: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis, by Others, 2015–2024
Figure 26: Global Marine Lubricants Market Attractiveness Analysis, by Application
Figure 27: Global Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 28: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis for Inland Operation Type, 2015–2024
Figure 29: Global Marine Lubricants Market Revenue (US$ Mn) and Volume (Kilo Tons) Analysis for Offshore Operation Type, 2015–2024
Figure 30: Global Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 31: Global Marine Lubricants Market Value Share Analysis, by Region, 2015 and 2024
Figure 32: Global Marine Lubricants Market Attractiveness Analysis, by Region
Figure 33: North America Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 34: North America Marine Lubricants Market Attractiveness Analysis, by Country
Figure 35: North America Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 36: North America Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 37: North America Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 38: North America Marine Lubricants Market Value Share Analysis, by Country, 2015 and 2024
Figure 39: North America Marine Lubricants Market Attractiveness Analysis, by Product
Figure 40: North America Marine Lubricants Market Attractiveness Analysis, by Application
Figure 41: North America Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 42: Latin America Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 43: Latin America Marine Lubricants Market Attractiveness Analysis, by Country/Sub-region
Figure 44: Latin America Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 45: Latin America Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 46: Latin America Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 47: Latin America Marine Lubricants Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
Figure 48: Latin America Marine Lubricants Market Attractiveness Analysis, by Product
Figure 49: Latin America Marine Lubricants Market Attractiveness Analysis, by Application
Figure 50: Latin America Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 51: Europe Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 52: Europe Marine Lubricants Market Attractiveness Analysis, by Country/Sub-region
Figure 53: Europe Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 54: Europe Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 55: Europe Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 56: Europe Marine Lubricants Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
Figure 57: Europe Marine Lubricants Market Attractiveness Analysis, by Product
Figure 58: Europe Marine Lubricants Market Attractiveness Analysis, by Application
Figure 59: Europe Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 60:  Asia Pacific  Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 61:  Asia Pacific  Marine Lubricants Market Attractiveness Analysis, by Country/Sub-region
Figure 62:  Asia Pacific  Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 63:  Asia Pacific  Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 64:  Asia Pacific  Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 65:  Asia Pacific  Marine Lubricants Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
Figure 66:  Asia Pacific  Marine Lubricants Market Attractiveness Analysis, by Product
Figure 67:  Asia Pacific  Marine Lubricants Market Attractiveness Analysis, by Application
Figure 68:  Asia Pacific  Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 69: MEA Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 70: MEA Marine Lubricants Market Attractiveness Analysis, by Country/Sub-region
Figure 71: MEA Marine Lubricants Market Value Share Analysis, by Product, 2015 and 2024
Figure 72: MEA Marine Lubricants Market Value Share Analysis, by Application, 2015 and 2024
Figure 73: MEA Marine Lubricants Market Value Share Analysis, by Operation Type, 2015 and 2024
Figure 74: MEA Marine Lubricants Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
Figure 75: MEA Marine Lubricants Market Attractiveness Analysis, by Product
Figure 76: MEA Marine Lubricants Market Attractiveness Analysis, by Application
Figure 77: MEA Marine Lubricants Market Attractiveness Analysis, by Operation Type
Figure 78: Global Marine Lubricants Market Share Analysis, by Company (2015)

 

List of Tables

Table 01: Global Marine Lubricants Market Size (US$ Mn) and Volume ( Kilo tons ) Forecast, by Product, 2015–2024
Table 02: Global Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 03: Global Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Operation Type, 2015–2024
Table 04: Global Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Region, 2015–2024
Table 05: North America Marine Lubricants Market Size (US$ Mn) and Volume ( Kilo tons ) Forecast, by Product, 2015–2024
Table 06: North America Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 07: North America Marine Lubricants Market Size (US$ Mn) and Volume ( Kilo tons ) Forecast, by Operation Type, 2015–2024
Table 08: North America Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
Table 09: Latin America Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2015–2024
Table 10: Latin America Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 11: Latin America Marine Lubricants Market Size (US$ Mn) and Volume ( Kilo tons ) Forecast, by Operation Type, 2015–2024
Table 12: Latin America Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Country/Sub-region, 2015–2024
Table 13: Europe Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2015–2024
Table 14: Europe Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 15: Europe Marine Lubricants Market Size (US$ Mn) and Volume ( Kilo tons ) Forecast, by Operation Type, 2015–2024
Table 16: Europe Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Country/Sub-region, 2015–2024
Table 17:  Asia Pacific  Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2015–2024
Table 18:  Asia Pacific  Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 19:  Asia Pacific  Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Operation Type, 2015–2024
Table 20:  Asia Pacific  Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Country/Sub-region, 2015–2024
Table 21: MEA Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2015–2024
Table 22: MEA Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
Table 23: MEA Marine Lubricants Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Operation Type, 2015–2024
Table 24: MEA Marine Lubricants Market Volume (Kilo Tons) and Revenue (US$ Mn) Forecast, by Country/Sub-region, 2015–2024

Global Marine Lubricants Market: Overview

Lubricants play a vital role in the reduction of friction and wear and tear of operating parts of different machines. The movement of certain mechanical parts is operational only in the presence of lubricants. Marine lubricants minimize the wear and tear between different machine parts and improve their output efficiency. Marine lubricants have numerous uses in the shipping industry, as a result of which different types of engine oil, hydraulic oil, and grease are developed.

Ships require marine lubricants for smooth functioning of machineries and components installed on them. Marine lubricants are effective in eliminating the harmful effects of friction. Introduction of the aviation transportation mode has hampered the water transport mode. However, owing to the high cost of aviation transportation, water transport has regained its popularity. Thus, the growing water transport worldwide is expected to fuel the demand for marine lubricants in the next few years. Group I base oils are getting scarce as well as expensive and witnessing fluctuations in demand. This is likely to result in shutdown of Group I refineries. The inadequate supply of bright stock material has propelled the discovery of alternatives, which also are inadequate. Thus, shortage of supply is expected to hamper the marine lubricants market in the near future.

Global Marine Lubricants Market: Research Methodology

The report estimates and forecasts the marine lubricants market on the global and regional levels. The study provides forecast between 2016 and 2024 based on volume (kilo tons) and revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the marine lubricants market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market.

The report analyzes opportunities in the marine lubricants market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of marine lubricants and global average price trend analysis.

The report includes Porter’s Five Forces Model to determine the degree of competition in the marine lubricants market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for marine lubricants between 2016 and 2024.

Global Marine Lubricants Market: Segmentation

The study provides a comprehensive view of the marine lubricants market by dividing it into product, application, operation type, and geography segments. The products have been segmented into mineral oil, synthetic oil, and bio-based oil. The applications are segmented into engine oil, hydraulic oil, turbine oil, gear oil, heat transfer fluids (HTFs), compressor oil, grease and others. The operation types have been categorized as inland and offshore. These segments have been analyzed based on historic, present, and future trends.

The product segment includes lubricants formulated from base oils such as mineral oil, synthetic oil, and bio-based oil. Out of these three types, mineral oil-based marine lubricants significantly dominate the market, followed by synthetic oil-based marine lubricants. Mineral oil falls under group I, II and III by API specification. Synthetic oil can be categorized as fully synthetic (group III, IV and V) and semi-synthetic – which is the mixture of synthetic and mineral oil. Bio-based lubricants are obtained from either vegetable oil or animal oil.

The application segment includes engine oil, hydraulic oil, turbine oil, gear oil, heat transfer fluids (HTFs), compressor oil, grease and others. The most consumed marine lubricants are engine oil, gear oil, hydraulic oil and grease. Following engine oil, the second most consumed marine lubricant is hydraulic oil. Even though engine oil segment held significant share of the marine lubricants market, hydraulic oil segment is expected to exhibit major growth potential during the forecast period. Regional segmentation includes the current and forecast consumption of marine lubricants in North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). Market segmentation includes demand for consumption in all the regions individually.

Global Marine Lubricants Market: Competitive Outlook

The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Royal Dutch Shell plc, ExxonMobil Corporation, BP PLC., LUKOIL Marine Lubricants DMCC, Chevron Corporation, and Total Lubmarine. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).

Secondary research sources that were typically referred to include, but were not limited to, OPEC Annual Statistical Bulletin, U.S. Energy Information Administration (EIA), Marine Environment Protection Committee (MEPC), Independent Chemical Information Service (ICIS), International Chamber of Shipping (ICS), International Maritime Organization (IMO), company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.

In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.

The global marine lubricants market has been segmented as follows:

By Product Analysis

  • Mineral oil
  • Synthetic oil
  • Bio-based oil

By Application

  • Engine oil
  • Hydraulic oil
  • Turbine oil
  • Gear oil
  • Heat Transfer Fluids (HTFs)
  • Compressor oil
  • Grease
  • Others

By Operation Type

  • Inland
  • Offshore

By Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa


 
 
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