DUBLIN--(BUSINESS WIRE)--Aug 17, 2018--The “Marine Lubricants Market Size, Share & Trends Analysis Report By Product (Engine Oil, Hydraulic Oil, Gear Oil, Turbine Oil, Greases), By Region (North America, Europe, APAC), Competitive Landscape, And Segment Forecasts, 2018 - 2025” report has been added to ResearchAndMarkets.com’s offering.
The global marine lubricants market size is expected to reach USD 9.32 billion by 2025, expanding at a CAGR of 3.9% during the forecast period
Growing concerns regarding oceanic pollution caused by improper engine function and subsequent demand for fuel-efficient engines are estimated to trigger the growth of the market.
Marine lubricants are widely utilized in the shipping industry to help protect engines and equipment as well as enhance efficiency. These are essential high performance additives for engines, especially designed to enable optimal performance in marine operations.
Growth in international trade, removal of trade barriers being the principal reason, is encouraging developing countries to concentrate more on improvement of their infrastructure, such as roads, airports, and seaports, which play a vital role in the development of the economy. Product storage, along with capacity to move large shipments, has placed the shipping industry in a very advantageous position.
Global shipping majors, just like other segments of the conventional transport industry, are increasingly getting integrated with emerging global logistics and supply chain activities, owing to both external and internal dynamics. These factors have aided industry participants in substantially consolidating their market position and supplementing their ocean freight income, subsequently stoking the demand for marine lubricants.
Engine oils dominated the market with about 46.0% volume share in 2016. These products are widely used in high, medium, and slow speed marine engines to extend service life and protect interior components from high temperatures & pressure. Some lubricants even offer additive protection against crankcases, camshaft areas, under-crowns, and ring belts.
Other products such as refrigeration compressor oils are specifically formulated to perform in extreme temperature environments and consist of HFC, CFC, and ozone-friendly refrigerants. These lubricants significantly prevent congealing on valves. The segment is expected to rise at a 2.8% CAGR from 2017 to 2025
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Marine Lubricants Market Variables, Trends & Scope
Chapter 4 Marine Lubricants Market: Product Estimates & Trend Analysis
Chapter 5 Marine Lubricants Market: Regional Estimates & Trend Analysis
Chapter 6 Competitive Landscape
Chapter 7 Company ProfilesBel-Ray Co. Inc. Quaker Chemical Corp. Zeller+Gmelin GmbH & Co. KG Blaser Swisslube AG Repsol Kluber Lubrication Pennzoil Phillips 66 PetroChina Co. Ltd. JX Nippon Oil & Energy Corp. Petrobras PetroFer Chemie Buhmwoo Chemical Ind. Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/x77tvp/marine_lubricants?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180817005220/en/
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Related Topics:Shipbuilding and Ship Parts,Lubricants and Greases
INDUSTRY KEYWORD: TRANSPORT MARITIME MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/17/2018 09:42 AM/DISC: 08/17/2018 09:42 AM