Transparency Market Research

Marine Lubricants Market to Reach 2,902.3 Kilotons by 2022 Due to Development and Growth of Shipping Industry

Transparency Market Research has published a new report "Marine Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022 " to its report store.


Albany, NY -- (SBWIRE) -- 01/05/2016 -- A new Transparency Market Research report states that the demand for marine lubricant market stood at 2,321.1 kilotons in 2013 and is predicted to reach 2,902.3 kilotons by 2022. It is expected to expand at a CAGR of 2.52% from 2014 to 2022. The title of the report is "Marine Lubricants Market by Product (Mineral, Synthetic, Bio), by Application (Engine Oil, Hydraulic Oil, Grease, etc.) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022".

Browse the full Marine Lubricants Market report at :

As per the report, the marine lubricant market is majorly driven by the technology enhancement improving the shelf life of mechanical parts. In addition, factors such as the growth of the shipping industry and the increasing demand for synthetic-based and bio-based lubricants are also fuelling the market. Furthermore, the rise in global trade will also have a positive impact on the market. On the other hand, the reduction in production of group-1 base oil is the prime factor impeding the growth of the marine lubricant market.

The report segments the marine lubricant market on the basis of product type, application, and geography.

On the basis of product type, the market is segmented into synthetic marine lubricants, mineral oil marine lubricants, and bio-based marine lubricants. Amongst these, in 2013, the segment of mineral oil marine oil lubricants led the market and is predicted to maintain its dominance till 2022. This segment represented a share of 87.19% in the market in 2013. This reason for the dominance of this segment is the rising awareness about marine oil lubricants amongst end user.

On the basis of application, the marine lubricants market is segmented into hydraulic oil marine lubricants, engine oil marine lubricants, grease, and others including compressor oils, gear oils, turbine oils, and heat transfer fluids. Amongst these, in 2013, the segment of engine oil marine lubricants led the market and constituted a share of 46.42% in the market. This segment is trailed by the segments of hydraulic oil marine lubricants and grease and these segments are anticipated to expand at a 2.10% CAGR and 2.09% CAGR, respectively between 2014 and 2022.

For further inquiries, click here :

On the basis of geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Europe led the market till 2011, however owing to the shifting of the major shipping industries to Asia Pacific, the market started flourishing in the region of Asia Pacific. The Asia Pacific marine lubricants market region is anticipated to grow exponentially in the coming years owing to the cost-effective shipbuilding facilities and the rising domestic consumption, especially in China, Singapore, and Japan within this region.

As mentioned in the report, the chief players operating in the market are Royal Dutch Shell, Total Lubricants, Chevron, Castrol, ExxonMobil, and BP Marine, among others

The global marine lubricants market is segmented as follows:

Global marine lubricant market, by product type

Mineral oil marine lubricants
Synthetic marine lubricants
Bio-based marine lubricants

Global marine lubricant market, by application

Engine oil marine lubricants
Hydraulic oil marine lubricants
Others (turbine oils, gear oils, compressor oils and heat transfer fluids)

Global marine lubricant market, by geography

North America




Asia Pacific

South Korea

Rest of the World (RoW)

Browse Press Release :

About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.