August 22, 2018 - 11:58 AM EDT
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Marine Lubricants (Mineral Oil, Synthetic, Bio-based, and Grease) Market - Global Forecast to 2023 -


The "Marine Lubricants Market by Oil Type (Mineral Oil, Synthetic, Bio-based, and Grease), Product Type (Engine oil, Hydraulic fluid, Compressor oil), Ship Type (Bulk Carrier, Tanker, Container), and Region - Global Forecast to 2023" report has been added to's offering.

The global marine lubricants market is estimated to be USD 5.98 billion in 2018 and is projected to reach USD 6.66 billion by 2023, at a CAGR of 2.17% from 2018 to 2023

The growth of the market is driven by the emerging alternative technology trends. Also, rising infrastructure developments (port infrastructure) to strengthen the shipping industry globally are fueling trade activities, leading to the growth of marine lubricants market. However, fewer trade activities and the rising number of idle ships are restraining the market's growth.

Mineral oil is the largest oil type segment of the global marine lubricants market. By oil type, the mineral oil segment is estimated to account for the largest share of the global marine lubricants market in 2018. This oil type is available in light and heavy grades, depending on the usage and requirement. Mineral oil is produced in large quantities because of its high demand in different marine applications, such as engines, turbines, and stern tubes. The market for mineral oil is driven by the demand from APAC and the Middle East due to the presence of a large number of oil refineries in these regions.

Engine oil is the largest product type segment of the global marine lubricants market. By product type, the engine oil segment is estimated to account for the largest share of the global marine lubricants market in 2018. This large share is majorly attributed to the increasing ship sizes, which translate into increased engine capacities and, therefore, high consumption of engine oil in the propulsion units.

The bulk carrier segment is the largest ship type segment of the global marine lubricants market. Marine lubricants are primarily used in the engine, hydraulic, compressor, stern tube, and gear of ships. By ship type, the bulk carrier segment is projected to lead the marine lubricants market between 2018 and 2023. The improving economic condition of countries in various regions is fueling the need for efficient and bigger ships to accommodate the rising cargo demand.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights and Trends

7 Marine Lubricants Market, By Oil Type

8 Marine Lubricants Market, By Product Type

9 Marine Lubricants Market, By Ship Type

10 Marine Lubricants Market, By Region

11 Competitive Landscape

12 Company Profiles

  • BP PLC.
  • Chevron Corporation
  • Exxonmobil Corporation
  • Royal Dutch Shell PLC.
  • Total S.A.
  • Lukoil
  • Aegean Marine Petroleum Network Inc.
  • Idemitsu Kosan Co., Ltd.
  • Indian Oil Corporation Ltd.
  • Sinopec Corporation
  • Avin Oil S.A.
  • Fuchs Petrolub Se
  • Gulf Oil International
  • H&R GmbH & Co. KGaA
  • JX Nippon Oil & Energy Corporation
  • Petronas Lubricants International
  • Quepet Lubricants
  • Stanley Group
  • Unimarine LLC
  • Vickers Oil
  • World Fuel Service Corporation

For more information about this report visit
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Oil, Shipbuilding and Ship Parts, Lubricants and Greases

Source: Business Wire (August 22, 2018 - 11:58 AM EDT)

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