Learn about the global marine lubricants market through The Business Research Company, which provides information on marine lubricants market size, marine lubricants market drivers and restraints, marine lubricants market players, the COVID-19 impact on the marine lubricants market, and more.

The global marine lubricants market size is expected to grow from $6.96 billion in 2021 to $7.24 billion in 2022 at a compound annual growth rate (CAGR) of 4.00%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The marine lubricant market is expected to reach $8.67 billion in 2026 at a CAGR of 4.62%.

The increase in demand for bio-based lubricants is expected to propel the growth of the marine lubricants market.

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The marine lubricants market consists of sales of marine lubricants by entities (organizations, sole traders, and partnerships), that are used by ships and other seafaring vehicles. Marine lubricants are frequently utilized to protect and improve the performance of engines and equipment. They are specifically developed to provide optimum performance in operations such as extending engine life and safeguarding components at high temperatures, boosting machine efficiency and dependability, enhancing mechanical wear protection, and preventing cold corrosion. By creating a layer that minimizes friction between moving contact surfaces, marine lubricant reduces friction and wear. reduce friction, prevent wear, protect equipment from corrosion, manage temperature by dissipating heat, control pollution to a filter, convey power, and provide a fluid seal are all functions of lubricants.

Global Marine Lubricants Market Segments Include:
By Product Type: Engine Oil, Hydraulic Oil, Turbine Oil, Gear Oil, Greases, Others

By Oil Type: Mineral Oil (Paraffinic Oil, Naphthenic Oil, Aromatic Oil), Synthetic Oil (PAO, PAG, Esters), Bio-Based (Plant Source, Animal Fats), Grease (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener)

By Ship Type: Bulk Carriers (Handysize, Handymax, Panamax, Capesize), Tankers (Panamax, Aframax, Suezmax, Very Large Crude Carrier (VLCC), Ultra Large Crude Carrier (ULCC)), Container Ships, Others (Reefers, Drill Ships, Passenger Ships, Roll On Roll Off Ships, Service Ships)

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the marine lubricants market in 2021.

Strategic collaborations between companies are a key trend gaining popularity in the marine lubricant market. Companies manufacturing marine lubricants are undergoing partnerships and collaboration to develop new technologies and products.

TBRC’s marine lubricants market report covers:

Major Market Players: BP plc, Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Corporation, Sinopec Corporation, PJSC Lukoil, Idemitsu Kosan Co. Ltd., Total S.A., Castrol, Gulf Oil Marine, Synforce Lubricants., Valvoline LLC, PetroChina, Eni S.p.A, Croda International Plc, Bailey’s Marine Fuels, Quepet Lubricants, JX Nippon Oil & Energy Corporation, IKO Marine Lubricant Supply Co. Ltd, Repsol SA, Aegean Oil SA, Fuchs Lubricants Co., Indian Oil Corporation Ltd. (IOCL), and Stanley Lubricants.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Marine Lubricants Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides marine lubricants market overviews, analyzes and forecasts market size, share, marine lubricants market players, marine lubricants market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s marine lubricants market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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