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What will drive Asia Pacific market for Marine Grease trends?

Author : Rahul Sankrityayan | Published Date : 2019-11-11 

Asia Pacific is likely to have substantial Marine Grease Market demand in the upcoming years due to rising number of shipbuilding activities in the region. Japan, South Korea and China reported majority of the new ship construction in recent years. Rising industrialization, increasing coastal economy and development of new waterways in the region are likely to increase product demand in the upcoming years.

Browse complete summary of this research report @ https://www.gminsights.com/industry-analysis/marine-grease-market

On the basis of application, Marine Grease Market has been categorized into bulk carriers & cargo ships, offshore shipping vessels, cruise & ferries, and tankers. Bulk carriers & cargo ships are likely to have substantial growth in the market due to increasing number of cargo shipments around the world. Rising demand for cargo shipments will create need for the product to improve the overall system efficiency & performance. Cruise & ferry will also be a key application segment due to increasing number of local marinas and ports around the world. Increasing number of passenger ships across the world will further propel the product demand in upcoming years.

Europe will also be a key region due to heavy dependency on waterways for movement of goods and people. Stringent government regulations in the region will create need for environment friendly marine grease products in coming years. North America will also have a significant share in the marine grease market due to increasing sea trade between different regions of the globe.

Marine Grease Market, By Thickener Type, 2014-2025 (USD Million)

  1. Aluminum
  2. Barium
  3. Sodium
  4. Lithium
  5. Polyurea
  6. Others (organo clay, calcium, etc.)

Though marine grease market is growing rapidly, the challenges associated with the product may hamper the industry growth in the coming years. Stringent government regulations to protect the aquatic system from the spillage of the product will slow down the growth of the market. Major government bodies including US EPA and European Union has provided regulations for the product usage in ships or vessels.

Marine grease market has been segmented into thickener type, application and region. On the basis of thickener type, the industry has been categorized into aluminum, barium, sodium, lithium, polyurea and others. Other thickener consists of organo-clay, calcium, etc. Lithium thickeners are likely to have a significant share in the coming years due to its wide usage in the application of wheel bearing, chassis lubrication, outboards of the ships or vessels.

Marine Grease Market, By Application, 2014-2025 (USD Million)

  1. Bulk carrier & cargo ships
  2. Offshore shipping vessels
  3. Cruise & ferry
  4. Tankers

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/4012

Some of the key players in the marine grease market includes:

ExxonMobil, Lucas Oil, Chevron, Pentrine Oil, Total Lubmarinem, CRC NZ, West, Liqui Moly, Castrol, British Petroleum, LUKOIL, Gulf Oils and Lubitec.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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