Marine Lubricants Market
Marine Lubricants Market Analysis By Oil Type (Oil-based, Synthetic, Bio-based), By Product Type (Engine Oil, Hydraulic Fluid, Compressor Oil), By Region - Global Forecast 2022 to 2032
Analysis of Marine Lubricants market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Marine Lubricants Market Outlook (2022 to 2032)
Marine lubricants consumption across the world is valued at US$ 6.1 billion, and is forecast to exceed US$ 7.1 billion by 2032, increasing at a CAGR of 1.5%.
| Report Attributes | Details |
|---|---|
| Marine Lubricants Market Size (2021A) | US$ 6 Billion |
| Estimated Market Value (2022E) | US$ 6.1 Billion |
| Forecasted Market Value (2032F) | US$ 7.1 Billion |
| Global Market Growth Rate (2022 to 2032) | 1.5% CAGR |
| North America Market Share (2021) | ~31% |
| North America Growth Rate (2022 to 2032) | ~1.6% CAGR |
| U.S. Growth Rate (2022 to 2032) | ~1.7% CAGR |
| Market Share of Top 5 Companies | ~13.1% |
| Key Companies Profiled | Exxon Mobil Corporation; Royal Dutch Shell Inc.; Chevron Corporation; BP p.l.c; Croda International Plc; The PJSC Lukoil Company; Repsol S.A; Avinoil S.A.; CEPSA; SINOPEC; Gazprom Neft PJSC; ENEOS Corporation; FUCHS |
Growth in the shipping industry and rising seaborne international trade are likely to support demand growth in global marine lubricants market over the coming years.
Marine lubricant sales accounted for ~4% share in the global lubricant market in 2021. The global market for marine lubricants is poised to generate US$ 1 billion in terms of absolute dollar opportunity during 2022 to 2032.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Marine Lubricant Consumption Analysis (2017 to 2021) Vs. Industry Outlook (2022 to 2032)
In earlier years, the marine lubricant industry endeavored the use of additives that included heavy metals such as antimony and lead to achieve high-load capability at low cost. However, recently, the industry has shifted from the use of such additives to environment-friendly additives. This shift is a green signal for the growth of the marine oils market.
Furthermore, rising shipping industry due to enhancement of global seaborne international trade has increased demand for marine lubricants having high efficiency and low emission capacity, helping to grow the marine lubricant industry by 1.2X.
Additionally, stringent government regulations regarding limited use of sulphur and nitrogen in automotive lubricants provide attention to bio-based lubricants, which further helps heighten the growth of marine lubricant engines. Also, adoption of four-stroke engines in the marine industry, which require highly efficient lubricants, will drive demand for marine lubricants.
Fact.MR projects the global marine lubricant market to witness 1.5% CAGR between 2022 and 2032 in comparison to 1.2% from 2017 to 2021.
How is Demand for Marine Lubricants Being Driven?
“Rising Seaborne International Trade Due to Rapid Globalization”
International trading through sea accounts for roughly 30% of worldwide transportation. Due to this, demand for environmental-friendly marine lubricants with high efficiency for two-stroke and four-stroke engines is rising.
Additionally, rising trade of bulk merchandise, such as industrial products, consumer goods, oils, and agricultural goods across the world has increased the use of marine transportation. Use of large ships for trading has amplified over the past few years, leading to higher demand for marine lubricants.
Growing tourism sector has driven rising demand for cruise ships, favoring product demand. Mounting investments by major market players and governments in the tourism industry will push demand growth of marine grease and oils.
“Enhanced Fuel Efficiency Coupled with Low-Cost Operations”
Marine lubricants form an essential part of the maritime supply chain, and stringent regulations imposed by International Maritime Organization (IMO) are anticipated to enhance the consumption of marine lubricants in future years.
However, with augmented fuel prices, shippers are likely to operate engines at slow streaming levels to save fuel. This could advance corrosion concerns in engines and strain the components and systems, as the engines are not capable of operating continuously at reduced rates.
Therefore, in order to ensure the proper safety and functioning of these engines, global demand for marine lubrication is likely to increase during the forecast years of 2022 to 2032.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Region-wise Analysis
Which Region Accounts for Highest Demand for Marine Lubricants?
“North America Marine Lubricant Market Leads the Way”
Rapid industrial growth and rising international trade activities, together with increasing adoption of seaborne trade, drives marine lubricants market growth in North America. The North American marine lubricants market is anticipated to dominate the global market by accounting for 31.2% market share in 2022.
Also, growing intra and intercostal seaborne networks with completely combined waterways are anticipated to upsurge the requirement for carriage ships that are mostly used to ship materials, goods, and raw materials, which will spur demand growth of marine oils in the North American region during assessment period.
How is the Asia Pacific Marine Lubricant Market Progressing?
“East Asia Market Lucrative, Led by China and Japan”
The Asia Pacific marine lubricants market holds 29.6% of the global market share in 2022. Deep-dive into different economies unveils that East Asia occupies 67.1% of the Asia Pacific market however South Asia & Oceania offer a recessive market, and occupies 32.9% of Asia Pacific.
This difference is owed to increasing industrialization in Japan and China. Boosted trade value is another key contributor to the dominance of East Asia in the Asia Pacific regional market.
Country-wise Analysis
How is Demand for Marine Lubricants Shaping Up in the U.S.?
“Demand for Bio-lubricants to Rise Faster”
The United States marine lubricants market accounts for the largest market share, i.e., 27.5% in 2022. The U.S. market is also projected to grow the fastest and register a CAGR of 1.7% during the forecast years.
Enhanced focus of manufacturers in the lubricant market operational in the region on promoting and introducing bio-lubricants for the marine industry is anticipated to boost market growth over the forecast period. Strict regulations on the use of ecologically accepted lubricants owing to growing worries of marine pollution in the United State is foreseen to offer market openings for bio-lubricants over the coming years.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Category-wise Analysis
Which Oil Type Holds Dominance in the Marine Lubricants Market?
“Synthetic Marine Oil Gaining More Popularity”
The marine lubricant market under oil type is segmented into oil-based, synthetic, and bio-based marine lubricants. The synthetic marine lubricants segment dominates the market with 51.1% of the overall market share, and is projected to register a CAGR of 1.6% over the forecast period.
This high market share is due to its high efficiency under low or high temperatures, environment-friendly nature, and durability in water. Additionally, with rising government demand for the reduction of sulphur and nitrogen emissions, sales of synthetic marine oil is rising faster as compared to other variants.
Which Product Type Will Bring in Decent Sales for Market Players?
“Sales of Engine Oil & Hydraulic Fluid to Increase”
Engine oil holds 43.5% of the market share in 2022. This high market share is due to its capacity for engine sealing and cleaning power.
Hydraulic fluid is anticipated to gain rapid traction over the forecast period and grow 1.2X in demand by 2032, followed closely by compressor oil.
Competition Landscape
Key manufacturers of marine lubricants are BP p.l.c, Royal Dutch Shell Plc, Chevron Corporation, Exxon Mobil Corporation, Croda International Plc, Repsol S.A, SINOPEC, and CEPSA.
Leading manufacturers are involved in product improvement and innovation such as efficiency, viscosity, safety, low emission, etc., of marine lubricants.
Apart from this, marine lubricant manufacturers are also resorting to collaborations with ship manufacturers. This strategy helps them enhance their global footprint.
- Seplat Energy Plc, in 2022, entered into an agreement to acquire Mobil Producing Nigeria Unlimited from Exxon Mobile Corporation. This transaction will create the largest independent energy companies on both, the London Stock Exchange and Nigerian Stock Exchange, and will drive enhanced growth and profitability over the coming years.
- Chevron Corporation, in 2021, signed an agreement to acquire Neste’s global base oil business.
Fact.MR has provided thorough data about the price points of top marine lubricant manufacturers placed across regions, in addition to providing information on sales growth, speculative production expansion, and production capacity, in the recently published report.
Marine Lubricant Industry Analysis by Category
-
Marine Lubricant Market by Oil Type :
- Oil-based Marine Lubricants
- Synthetic Marine Lubricants
- Bio-based Marine Lubricants
-
Marine Lubricant Market by Product Type :
- Engine Oil
- Hydraulic Fluid
- Compressor Oil
- Other Product Types
-
Marine Lubricant Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Value Chain Analysis
- 6. Global Market Volume 2017 to 2021 Analysis and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value 2017 to 2021 Analysis and Forecast, 2022 to 2032
- 9. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Oil Type
- 9.1. Oil-based
- 9.2. Synthetic
- 9.3. Bio-based
- 10. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Product Type
- 10.1. Engine Oil
- 10.2. Hydraulic Fluid
- 10.3. Compressor Oil
- 10.4. Other Product Types
- 11. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia & Oceania
- 11.6. Middle East and Africa (MEA)
- 12. North America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 13. Latin America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 14. Europe Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 15. East Asia Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 16. South Asia & Oceania Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 17. Middle East and Africa Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 18. Key Countries Market Analysis 2017 to 2021 Analysis and Forecast 2022 to 2032
- 19. Market Structure Analysis
- 20. Competition Analysis
- 20.1. Exxon Mobil Corporation
- 20.2. Royal Dutch Shell Inc.
- 20.3. Chevron Corporation
- 20.4. BP p.l.c
- 20.5. Croda International Plc
- 20.6. The PJSC Lukoil Company
- 20.7. Repsol S.A
- 20.8. Avinoil S.A.
- 20.9. CEPSA
- 20.10. SINOPEC
- 20.11. Gazprom Neft PJSC
- 20.12. ENEOS Corporation
- 20.13. FUCHS
- 21. Assumptions & Acronyms Used
- 22. Research Methodology
Don't Need a Global Report?
save 40%! on Country & Region specific reports
List Of Table
Table 01: Global Market Value (USD Billion) and Forecast by Region, 2017 to 2021
Table 02: Global Market Value (USD Billion) and Forecast by Region, 2022 to 2032
Table 03: Global Market Volume (Tons) and Forecast by Region, 2017 to 2021
Table 04: Global Market Volume (Tons) and Forecast by Region, 2022 to 2032
Table 05: Global Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 06: Global Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 07: Global Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 08: Global Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 09: Global Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 10: Global Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 11: Global Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 12: Global Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 13: North America Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 14: North America Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 15: North America Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 16: North America Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 17: North America Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 18: North America Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 19: North America Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 20: North America Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 21: North America Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 22: North America Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 23: North America Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 24: North America Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 25: Latin America Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 26: Latin America Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 27: Latin America Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 28: Latin America Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 29: Latin America Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 30: Latin America Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 31: Latin America Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 32: Latin America Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 33: Latin America Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 34: Latin America Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 35: Latin America Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 36: Latin America Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 37: Europe Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 38: Europe Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 39: Europe Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 40: Europe Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 41: Europe Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 42: Europe Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 43: Europe Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 44: Europe Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 45: Europe Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 46: Europe Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 47: Europe Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 48: Europe Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 49: East Asia Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 50: East Asia Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 51: East Asia Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 52: East Asia Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 53: East Asia Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 54: East Asia Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 55: East Asia Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 56: East Asia Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 57: East Asia Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 58: East Asia Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 59: East Asia Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 60: East Asia Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 61: South Asia and Oceania Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 62: South Asia and Oceania Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 63: South Asia and Oceania Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 64: South Asia and Oceania Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 65: South Asia and Oceania Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 66: South Asia and Oceania Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 67: South Asia and Oceania Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 68: South Asia and Oceania Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 69: South Asia and Oceania Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 70: South Asia and Oceania Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 71: South Asia and Oceania Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 72: South Asia and Oceania Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
Table 73: MEA Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 74: MEA Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 75: MEA Market Volume (Tons) and Forecast by Country, 2017 to 2021
Table 76: MEA Market Volume (Tons) and Forecast by Country, 2022 to 2032
Table 77: MEA Market Value (USD Billion) and Forecast by Oil Type, 2017 to 2021
Table 78: MEA Market Value (USD Billion) and Forecast by Oil Type, 2022 to 2032
Table 79: MEA Market Volume (Tons) and Forecast by Oil Type, 2017 to 2021
Table 80: MEA Market Volume (Tons) and Forecast by Oil Type, 2022 to 2032
Table 81: MEA Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 82: MEA Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 83: MEA Market Volume (Tons) and Forecast by Product Type, 2017 to 2021
Table 84: MEA Market Volume (Tons) and Forecast by Product Type, 2022 to 2032
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
List Of Figures
Figure 01: Global Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 02: Global Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 03: Global Market Value (USD Billion) and Volume (Tons) by Region, 2022 & 2032
Figure 04: Global Market Y-o-Y Growth Rate by Region, 2022 to 2032
Figure 05: Global Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 06: Global Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 07: Global Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 08: Global Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 09: North America Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 10: North America Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 11: North America Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 12: North America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 13: North America Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 14: North America Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 15: North America Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 16: North America Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 17: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 18: North America Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 19: North America Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 20: Latin America Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 21: Latin America Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 22: Latin America Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 23: Latin America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 24: Latin America Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 25: Latin America Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 26: Latin America Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 27: Latin America Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 28: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 29: Latin America Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 31: Europe Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 32: Europe Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 33: Europe Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 34: Europe Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 35: Europe Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 36: Europe Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 37: Europe Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 38: Europe Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 41: Europe Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 42: East Asia Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 43: East Asia Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 44: East Asia Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 45: East Asia Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 46: East Asia Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 47: East Asia Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 48: East Asia Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 49: East Asia Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 50: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 51: East Asia Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 52: East Asia Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 53: South Asia and Oceania Market Value (USD Billion) and Volume (Tons) Forecast, 2022 to 2032
Figure 54: South Asia and Oceania Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 55: South Asia and Oceania Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 56: South Asia and Oceania Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 57: South Asia and Oceania Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 58: South Asia and Oceania Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 59: South Asia and Oceania Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 60: South Asia and Oceania Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 61: South Asia and Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 62: South Asia and Oceania Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 63: South Asia and Oceania Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 64: MEA Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 65: MEA Market Value (USD Billion) and Volume (Tons) by Country, 2022 & 2032
Figure 66: MEA Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 67: MEA Market Value (USD Billion) and Volume (Tons) by Oil Type, 2022 & 2032
Figure 68: MEA Market Y-o-Y Growth Rate by Oil Type, 2022 to 2032
Figure 69: MEA Market Value (USD Billion) and Volume (Tons) by Product Type, 2022 & 2032
Figure 70: MEA Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 71: MEA Market Attractiveness Analysis by Country, 2022 to 2032
Figure 72: MEA Market Attractiveness Analysis by Oil Type, 2022 to 2032
Figure 73: MEA Market Attractiveness Analysis by Product Type, 2022 to 2032
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the revenue from the global marine lubricant market?
The global marine lubricant market is valued at US$ 6.1 billion in 2022.
How is the market expected to perform over the forecasted period?
Consumption of marine lubricants is anticipated to surpass US$ 7.1 billion by 2032.
At what rate did demand for marine lubricant increase till 2021?
From 2017 to 2021, the global marine lubricant market grew at 1.2% CAGR.
Which companies are prominent manufacturers of marine lubricants?
Well-known marine lubricant suppliers are Royal Dutch Shell Inc., Chevron Corporation, BP p.l.c, Croda International Plc, and The PJSC Lukoil Company.
Which region leads the global marine lubricant market?
North America accounts for 31.2% share of the global market for marine oils in 2022.
Which oil contributes to the highest sales of marine lubricants?
Synthetic oil is the most preferred type and is expected to contribute 51.1% market share in the global marine lubricants industry.
Marine Lubricants Market