The market for marine lubricants is expected to grow at a CAGR of around 3.7% from 2020 to 2027 and expected to reach the market value of around US$ 7,735.8 Mn by 2027.
Marine lubricants reduce the wear and tear between contacting surfaces in relative motion in marine applications. It also helps in reducing energy consumption, provide high efficacy, and minimize operating costs, and increases equipment lifespan. These are used to lubricate the parts of inflatable boats, tankers, drillships, semi-submerged ship, outboard motorboats, cargo ships, and passenger ships. These are widely used in the shipping industry to protect and enhance the efficiency of engines and equipment.
Market Dynamics
The rising trends among consumers for luxury travel cruises along with the growing tourism sector worldwide have led to an increased number of various activities including sailing, fishing, campaigning, boat racing, and water sport games is driving the market growth. The rising marine trade due to low transportation & maintenance cost along with the presence of a substantial number of shipping industries is supporting the market value. The recreational boat market is also anticipated to support marine lubricants market growth due to increasing participation in recreational and pleasure sports activities. The growing marine trade on account of bilateral agreements in nations is further accelerating market growth.
On the other side, stringent regulations and fluctuating cost associated with the marine lubricants is projected to limit the growth to an extent over the estimated timeframe from 2020 to 2027.
Mineral Oil is leading the global marine lubricants market with major revenue share
By oil type, mineral oil accounted for the major share in terms of revenue (US$ Mn) and also projected to maintain its dominance throughout the forecast period. Whereas, synthetic oil and bio-based oil segment are projected to exhibit lucrative growth in the near future due to environment-friendly advantages associated with them. The stringent government regulations associated with the emissions from the mineral oil that negatively affect aquatic life is favoring the demand for synthetic and bio-based oil over the forecast period.
Asia Pacific accounted for the maximum revenue share in the marine lubricants market
In 2019, Asia Pacific has registered major revenue share (%) in the marine lubricants market and also projected to maintain its dominance over the estimated timeframe from 2020 to 2027. The emerging economies of the region including China and India are majorly contributing to the regional market value. China accounted for the maximum revenue share (%) in the regional market. The increasing international trade in the region through the less cost associated with water transportation is favoring the regional market value. Furthermore, the region is also projected to exhibit the fastest growth with major CAGR (%) over the estimated timeframe from 2020 to 2027. The rising investments and partnerships in marine lubricant business are projected to provide potential growth during the forecast timeframe
The players profiled in the report include Bp p.l.c., Chevron Corporation, China Petrochemical Corporation (SINOPEC), Exxon Mobil Corporation, FUCHS, Gazprom neft — Lubricants Ltd., Gulf Oil International, Idemitsu Kosan Co., Ltd., Indian Oil Corporation Ltd, JXTG Nippon Oil & Energy Corporation, LUKOIL, Quepet Lubricants, and Royal Dutch Shell plc. The major marine lubricants players were involved in strategic developments for escalating the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing consumer demand for the marine lubricants.
Market Segmentation
Market By Oil Type
Bio-Based
Synthetic Oil
Mineral Oil
Grease
Market By Product
Engine oil
Hydraulic oil
Turbine oil
Gear oil
Others
Market By Ship Types
Bulk Carrier
Oil Tankers
General Cargo
Container Ships
Others
Market By Geography
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Marine Lubricants
1.1. Definition and Scope
1.1.1. Definition of Marine Lubricants
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Marine Lubricants Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Marine Lubricants Market By Oil Type
1.2.3. Marine Lubricants Market By Product
1.2.4. Marine Lubricants Market By Ship Types
1.2.5. Marine Lubricants Market by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Marine Lubricants Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Marine Lubricants Market
3.7. Value Chain Analysis
3.8. Cost Structure Analysis
3.8.1. Proportion of Manufacturing Cost Structure
3.8.1.1. Raw Material
3.8.1.2. Labor Cost
3.8.1.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2019
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2019
4.2. R&D Status and Application Source of Marine Lubricants Major Manufacturers in 2019
CHAPTER 5. Marine Lubricants Market By Oil Type
5.1. Introduction
5.2. Marine Lubricants Revenue By Oil Type
5.2.1. Marine Lubricants Revenue (US$ Mn) and Forecast, By Oil Type, 2016-2027
5.2.2. Bio-Based
5.2.2.1. Bio-Based Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.3. Synthetic Oil
5.2.3.1. Synthetic Oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.4. Mineral Oil
5.2.4.1. Mineral Oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.5. Grease
5.2.5.1. Grease Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 6. Marine Lubricants Market Revenue By Product
6.1. Introduction
6.2. Marine Lubricants Revenue (US$ Mn) By Product
6.2.1. Marine Lubricants Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
6.2.2. Engine oil
6.2.2.1. Engine oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.3. Hydraulic oil
6.2.3.1. Hydraulic oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.4. Turbine oil
6.2.4.1. Turbine oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.5. Gear oil
6.2.5.1. Gear oil Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.6. Others
6.2.6.1. Others Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 7. Marine Lubricants Market By Ship Types
7.1. Introduction
7.2. Marine Lubricants Revenue (US$ Mn) By Ship Types
7.2.1. Marine Lubricants Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
7.2.2. Bulk Carrier
7.2.2.1. Bulk Carrier Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.3. Oil Tankers
7.2.3.1. Oil Tankers Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.4. General Cargo
7.2.4.1. General Cargo Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.5. Container Ships
7.2.5.1. Container Ships Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.6. Others
7.2.6.1. Others Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 8. North America Marine Lubricants Market By Country
8.1. North America Marine Lubricants Overview
8.2. U.S.
8.2.1. U.S. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
8.2.2. U.S. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
8.2.3. U.S. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
8.3. Canada
8.3.1. Canada Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
8.3.2. Canada Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
8.3.3. Canada Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
8.4. North America PEST Analysis
CHAPTER 9. Europe Marine Lubricants Market By Country
9.1. Europe Marine Lubricants Market Overview
9.2. U.K.
9.2.1. U.K. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
9.2.2. U.K. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
9.2.3. U.K. Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
9.3. Germany
9.3.1. Germany Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
9.3.2. Germany Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
9.3.3. Germany Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
9.4. France
9.4.1. France Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
9.4.2. France Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
9.4.3. France Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
9.5. Spain
9.5.1. Spain Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
9.5.2. Spain Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
9.5.3. Spain Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
9.6. Rest of Europe
9.6.1. Rest of Europe Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016-2027
9.6.2. Rest of Europe Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016-2027
9.6.3. Rest of Europe Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016-2027
9.7. Europe PEST Analysis
CHAPTER 10. Asia Pacific Marine Lubricants Market By Country
10.1. Asia Pacific Marine Lubricants Market Overview
10.2. China
10.2.1. China Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.2.2. China Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.2.3. China Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.3. Japan
10.3.1. Japan Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.3.2. Japan Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.3.3. Japan Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.4. India
10.4.1. India Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.4.2. India Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.4.3. India Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.5. Australia
10.5.1. Australia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.5.2. Australia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.5.3. Australia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.6. South Korea
10.6.1. South Korea Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.6.2. South Korea Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.6.3. South Korea Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.7. Rest of Asia-Pacific
10.7.1. Rest of Asia-Pacific Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
10.7.2. Rest of Asia-Pacific Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
10.7.3. Rest of Asia-Pacific Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
10.8. Asia Pacific PEST Analysis
CHAPTER 11. Latin America Marine Lubricants Market By Country
11.1. Latin America Marine Lubricants Market Overview
11.2. Brazil
11.2.1. Brazil Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
11.2.2. Brazil Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
11.2.3. Brazil Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
11.3. Mexico
11.3.1. Mexico Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
11.3.2. Mexico Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
11.3.3. Mexico Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
11.4. Rest of Latin America
11.4.1. Rest of Latin America Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
11.4.2. Rest of Latin America Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
CHAPTER 12. Middle East & Africa Marine Lubricants Market By Country
12.1. Middle East & Africa Marine Lubricants Market Overview
12.2. Saudi Arabia
12.2.1. Saudi Arabia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
12.2.2. Saudi Arabia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
12.2.3. Saudi Arabia Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
12.3. UAE
12.3.1. UAE Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
12.3.2. UAE Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
12.3.3. UAE Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
12.4. Rest of Middle East & Africa
12.4.1. Rest of Middle East & Africa Marine Lubricants Market Revenue (US$ Mn) and Forecast By Oil Type, 2016 - 2027
12.4.2. Rest of Middle East & Africa Marine Lubricants Market Revenue (US$ Mn) and Forecast By Product, 2016 - 2027
12.4.3. Rest of Middle East & Africa Marine Lubricants Market Revenue (US$ Mn) and Forecast By Ship Types, 2016 - 2027
CHAPTER 13. Player Analysis Of Marine Lubricants
13.1. Marine Lubricants Market Company Share Analysis
13.2. Mergers And Acquisition In Global Marine Lubricants Market
CHAPTER 14. COMPANY PROFILE
14.1. BP p.l.c.
14.1.1. Company Snapshot
14.1.2. Business Overview
14.1.3. Financial Overview
14.1.3.1. Revenue (US$ Mn), 2019
14.1.3.2. BP p.l.c. 2019 Marine Lubricants Business Regional Distribution
14.1.4. Product/ Service and Specification
14.1.5. Manufacturing Plant Footprint Analysis
14.2. Chevron Corporation
14.3. China Petrochemical Corporation
14.4. Exxon Mobil Corporation
14.5. Gazprom neft — Lubricants Ltd.
14.6. Gulf Oil International
14.7. Idemitsu Kosan Co., Ltd.
14.8. Indian Oil Corporation Ltd
14.9. JXTG Nippon Oil & Energy Corporation
14.10. LUKOIL
14.11. Others
