Global Marine Lubricants Market – Size, Outlook, Trends and Forecast (2024 – 2032)

to the rising demand for durable, highly efficient, and eco- friendly products. Stringent safety standards have been introduced by many governments to control high sulphur and nitrogen releases into the sea by using mineral oil. These emissions not only damage aquatic life and the environment but also harm the ozone layer, therefore growing the need to switch to less toxic synthetic and bio-based oils.

The bulk carrier and tanker segments together valued for the significant share of the global marine lubricants market in 2017, regarding consumption, owing to their vast numbers. The trade carried out mostly comprises the movement of raw materials, crude oil & petroleum, and industrial goods, which are conveyed through these two ship types. Tankers are the critical segment for transport ships and witness substantial gains above 3%. These are commercial vessels which are mandatory to transport chemicals, gasses and liquids in bulk. Growing petrochemical-derived products demand in bulk numbers due to rapid industrialisation and advancements in energy needs should fuel marine lubricants for tanker ships.

By Geography, APAC was the primary market for global marine lubricants in 2017 and is anticipated to lead the marine lubricants market during the forecast period 2019-2025. The APAC marine lubricants market is mostly driven by the existence of the world’s busiest ports in the region in countries like China, Singapore, and Hong Kong. Growing trade activities and increasing infrastructural developments in the shipping industry. Germany is one of the biggest consumers of marine lubricants around the world due to its massive merchant navy fleet. Owing to the ruthless competition among several shipbuilding companies, the German merchant fleet has been decreasing since 2012 with a loss of 17% in the overall number of ships. The market is likely to

decay slightly further in the coming years, which could be an obstacle for the marine lubes industry in the region. Though, there has been a growing demand for marine lubricants in the Eastern European region, marine lubricants market is witnessing a steady growth rate.

Global Marine Lubricants Market Segments Trends:

• In June 2018, VAN OORD and Shell Marine collaborated to cover the lubrication needs for its full fleet of vessels in next five years.
• In May 2015, BP and Sinopec Fuel Oil declared the formation of a 50:50 marine oils bunkering joint-venture across the global.

Global Marine Lubricants Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have a complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact on altering market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The primary key players are:

• BP PLC.
• Indian Oil Corporation Ltd
• Chevron Corporation
• Exxon Mobil Corporation
• Gulf Oil Corporation Limited
• Royal Dutch Shell Plc.

Along with these companies, there were many other companies considered/cited in the report while analysing the marine lubricants market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.