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Marine Lubricants Market Size from Hydraulic Oil Applications to Hit $1.3 Billion By 2024

Author : Ronak Bora | Published Date : 2019-08-06 

Marine Lubricants Market from hydraulic oil applications may exceed USD 1.3 billion by 2024. These products have various applications in offshore drilling projects and marine related services. Hydraulic oil offers, low compressibility, resistance to cavitation, water emulsifying ability and high film strength which provides excellent protection and equipment reliability in corrosive environment, thereby complementing industry growth.

Marine lubricants market from transport ship-based channels should exceed USD 1.6 billion by 2024. Increase in demand for bulk commodities and consumer goods coupled with rise in foreign trade activities through sea route and development of infrastructure & ports may positively influence market growth.

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Bio-based marine lubricants market will collect a significant revenue by 2023 with an annual growth rate of more than 6% over the coming timeframe. The deployment of stringent rules and regulations regarding the adoption of biodegradable products along with growing awareness regarding environmental protection will stimulate marine lubricants industry share notably.

Mineral oil marine lubricants industry, having had a revenue of USD 6 billion in 2015 will generate notable revenue over the years ahead. Increasing usage of the product for marine applications such as turbines, engines, and stern tubes will fuel the industry growth. Market players are investing heavily into the development of cost-effective products over the coming six years. The key participants in marine lubricants market are Royal Dutch Shell, exxonmobil, Quepet Lubricants, Chevron Corporation, Gulf Oil Corporation, LUKOIL, and Sinopec.

Asia Pacific, driven by South Korea, China, Japan and India marine lubricants market may witness significant gains at over 4% by the end of the projected period. Increasing seaborne activities along with growth in number of shipping harbors for various bilateral treaties may spur regional industry growth.

Europe, led by France, UK and Germany marine lubricants market may surpass USD 2.5 billion by 2024. Growth in offshore drilling activities and increase in sea trade as per bilateral agreements between countries may stimulate regional demand. Increasing consumer awareness regarding ecofriendly products along with rise in shipping tourism may further complement business growth.

Global marine lubricants market share is consolidated with prominent players including exxonmobil, BP Marine, RDS, Chevron, Total, Quepet, Castrol, JX Nippon, Lukoil and Sinopec.

Browse key industry insights spread across 310 pages with 512 market data tables & 27 figures & charts from the report, “Marine Lubricants Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/marine-lubricants-market

 

Glimpse of Table of Content (ToC)

Chapter 3   Marine Lubricants Market Insights

3.1   Marine Lubricants Market segmentation

3.2   Marine Lubricants Market landscape, 2013 - 2024

3.3   Marine Lubricants Market ecosystem analysis

3.3.1   Vendor matrix

3.3.2   Distribution channel analysis

3.3.2.1   Joint Ventures

3.3.2.2   Service Providers

3.3.2.3   Contract Manufacturing

3.4   Marine lubricant trade statistics

3.4.1   Estimated Import statistics (2015, 2014,2013) (Kilo Tons) (Range)

3.4.2   Estimated export statistics (2015, 2014,2013) (Kilo Tons) (Range)

3.5   Regulatory landscape

3.5.1   Environmental Regulation

3.5.2   Australia

3.5.3   APAC

3.5.4   Europe

3.5.5   U.S

3.6   Global shipping industry review

3.6.1   Global recreational ships trends

3.7   Technology landscape

3.8   Price analysis

3.8.1   Mineral oil (USD per kilo), (2013-2024)

3.8.2   Synthetic lubricant (USD per kilo), (2013-2024)

3.8.3   Biobased lubricant (USD per kilo), (2013-2024)

3.8.4   Cost structure analysis

3.8.4.1   Industrial marine lubricants

3.9   Raw material analysis

3.9.1   Crude oil

3.9.2   Base oil

3.10   Industry impact forces

3.10.1    Growth drivers

3.10.1.1    Ship building and fleet market expansion in Asia Pacific region

3.10.1.2    Increasing bio based lubricants demand in Europe and North America

3.10.2    Industry pitfalls & challenges

3.10.2.1    Strict norms for synthetic lubricants

3.11   Innovation & sustainability

3.12   Porter’s analysis

3.13   Company market share, 2016

3.13.1    Strategic dashboard

3.13.2    Geographical Footprints

3.13.3    Top vendor offerings

3.13.3.1    Logistics and delivery capabilities

3.14   Growth potential analysis

3.15   PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/marine-lubricants-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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