Marine Lubricants Market
Marine Lubricants Market Size, Share & Trends Analysis Report by Oil Type (Mineral Oil, Synthetic Oil, and Bio-Based Oil), by Product Type (Engine Oil, Hydraulic Fluid, Compressor Oil, and Others), and by Ship Type (Bulk Carriers, Tankers, Container Ships, and Others) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Marine lubricants market is anticipated to grow at a CAGR of 1.2% during the forecast period. The presence of key players such as Croda International Plc, Exxon Mobil Corp, Idemitsu Kosan Co., Ltd., and others is driving the marine lubricants market by launching marine lubricants in the market. For instance, in June 2019, Exxon Mobil Corp launched Mobilgard M420 oil, specially designed for use in medium-speed engines. The oil has been formulated for use on vessels running on 0.50% or 0.10% sulfur fuels and has also been proven for use with liquefied natural gas (LNG) due to its low base number (BN) formulation. Additionally, Mobilgard M420 is available for supply from key hub ports such as Singapore, Houston, and Rotterdam. Furthermore, the company will expand its oil supply to more than 650 ports in the coming years which will drive the marine lubricants market during the forecast period.
Segmental Outlook
The global marine lubricants market is segmented based on the oil type, product type, and ship type. Based on the oil type, the market is sub-segmented into mineral oil, synthetic oil, and bio-based oil. Based on the product type, the market is sub-segmented into the engine oil, hydraulic fluid, compressor oil, and others. Based on the ship type, the market is further sub-segmented into bulk carriers, tankers, container ships, and others. Among these, the bulk carriers’ segment is expected to hold a considerable share of the market due to an increase in global marine trade which increases the demand for bulk carrier ships.
Among oil types, the mineral oil sub-segment is expected to hold a prominent share in the marine lubricants market over the forecast period. Factors attributing to the growth include its easy availability and low cost. The mineral oil is a complex mixture of naphthene, paraffin, and aromatics. Due to this complex mixture, the oil has diverse properties that can be adjusted according to the specific product type. This makes mineral oil-based marine lubricants the preferred choice over other oil types.
Regional Outlooks
The global marine lubricants market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Europe is expected to hold a considerable share in the marine lubricants market during the forecast period, owing to the increasing trade activities in the region. Additionally, due to its low cost, bulk lubricants products types such as marine 2-stroke and 4-stroke engines utilize a large volume of mineral oil lubricants.
Global Marine Lubricants Market Growth, by Region 2022-2028
Asia-Pacific is Expected to Hold a Significant Share in the Global Marine Lubricants Market
Among all regions, Asia-Pacific is expected to hold a significant market share during the forecast period. The growth is attributed to the increasing shipbuilding industry in the countries such as China, India, South Korea, and others, which are considered the main manufacturing hubs for marine lubricants. For instance, in July 2021, according to data from the Ministry of Industry and Information Technology, China's shipbuilding industry constructed ships totaling over 20.92 million deadweight tons (dwt) from January to June, up 19% from the previous year. Additionally, new orders received by the country's shipbuilders surged 206.8% from the previous year, totaling 38.24 million dwt. China's shipbuilding industry accounts for 44.9% of ship tonnage completed by the global shipbuilding industry and 51% of total new orders across the globe during the first half of 2021, thus driving the marine lubricants market in the region.
Market Players Outlook
The major companies serving the global marine lubricants market include Chevron Corp, China Petrochemical Corp., COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A., Croda International Plc, Exxon Mobil Corp, Idemitsu Kosan Co., Ltd., Indian Oil Corp. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. Key market players are focusing on a digital platform to expand their business and connect with consumers. For instance, in June 2021, BP Plc, an oil-and-gas company established a digital center in Pune to support the firm's core operation, extend its customer interfaces, and support a new business model. The center supports the digitization of BP's businesses and assists in delivering new energy and mobility solutions. This digitalization supports the company to grow its oil business across the globe, thus will fuel the overall marine lubricants market.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global marine lubricants market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Marine Lubricants Market by Oil Type
4.1.1. Mineral Oil
4.1.2. Synthetic Oil
4.1.3. Bio-Based Oil
4.2. Global Marine Lubricants Market by Product Type
4.2.1. Engine Oil
4.2.2. Hydraulic Fluid
4.2.3. Compressor Oil
4.2.4. Others (System Oil, Cylinder Oil)
4.3. Global Marine Lubricants Market by Ship Type
4.3.1. Bulk Carriers
4.3.2. Tankers
4.3.3. Container Ships
4.3.4. Others (General Cargo)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. BP p.l.c
6.2. Chevron Corp
6.3. China Petrochemical Corp.
6.4. COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.
6.5. Croda International Plc
6.6. Exxon Mobil Corp
6.7. Idemitsu Kosan Co., Ltd.
6.8. Indian Oil Corp.
6.9. JX Nippon Oil and Energy Corp.
6.10. Repsol S.A
6.11. Royal Dutch Shell Plc
6.12. SINOPEC International Petroleum Exploration and Production Corp.
6.13. The PJSC Lukoil Oil Co.
6.14. TotalEnergies SE
6.15. Valvoline Cummins Pvt Ltd
1. GLOBAL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY OIL TYPE, 2021-2028 ($ MILLION)
2. GLOBAL MARINE MINERAL OIL LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL MARINE SYNTHETIC OIL LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL MARINE BIO-BASED OIL LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
6. GLOBAL ENGINE OIL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL HYDRAULIC FLUID MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL COMPRESSOR OIL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL OTHER MARINE LUBRICANTS PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY SHIP TYPE, 2021-2028 ($ MILLION)
11. GLOBAL MARINE LUBRICANTS FOR BULK CARRIERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL MARINE LUBRICANTS FOR TANKERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
13. GLOBAL MARINE LUBRICANTS FOR CONTAINER SHIPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL MARINE LUBRICANTS FOR OTHER SHIPS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
15. GLOBAL MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. NORTH AMERICAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY OIL TYPE, 2021-2028 ($ MILLION)
18. NORTH AMERICAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
19. NORTH AMERICAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY SHIP TYPE, 2021-2028 ($ MILLION)
20. EUROPEAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. EUROPEAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY OIL TYPE, 2021-2028 ($ MILLION)
22. EUROPEAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
23. EUROPEAN MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY SHIP TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY OIL TYPE, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY SHIP TYPE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. REST OF THE WORLD MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY OIL TYPE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
31. REST OF THE WORLD MARINE LUBRICANTS MARKET RESEARCH AND ANALYSIS BY SHIP TYPE, 2021-2028 ($ MILLION)
1. GLOBAL MARINE LUBRICANTS MARKET SHARE BY OIL TYPE, 2021 VS 2028 (%)
2. GLOBAL MARINE MINERAL OIL LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL MARINE SYNTHETIC OIL LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL MARINE BIO-BASED OIL LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL MARINE LUBRICANTS MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
6. GLOBAL ENGINE OIL MARINE LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL HYDRAULIC FLUID MARINE LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL COMPRESSOR OIL MARINE LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL OTHERS MARINE LUBRICANTS PRODUCTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL MARINE LUBRICANTS MARKET SHARE BY SHIP TYPE, 2021 VS 2028 (%)
11. GLOBAL MARINE LUBRICANTS FOR BULK CARRIERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL MARINE LUBRICANTS FOR TANKERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL MARINE LUBRICANTS FOR CONTAINER SHIPS MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL MARINE LUBRICANTS FOR OTHERS SHIP MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL MARINE LUBRICANTS FOR RISK & CREDIT ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL MARINE LUBRICANTS FOR OTHER MARKET SHARE BY REGION, 2021 VS 2028 (%)
17. MARINE LUBRICANTS FOR OTHER MARKET SHARE BY REGION, 2021 VS 2028 (%)
18. GLOBAL MARINE LUBRICANTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
19. US MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
20. CANADA MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
21. UK MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
22. FRANCE MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
23. GERMANY MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
24. ITALY MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
25. SPAIN MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF EUROPE MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
27. INDIA MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
28. CHINA MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
29. JAPAN MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
30. SOUTH KOREA MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
31. REST OF ASIA-PACIFIC MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
32. REST OF THE WORLD MARINE LUBRICANTS MARKET SIZE, 2021-2028 ($ MILLION)
