The global market size of marine lubricants is estimated to be USD 5.40 Billion in 2016, and is projected to reach USD 6.02 Billion by 2021, registering a CAGR of 2.2% during the same period.
Seattle, WA -- (SBWIRE) -- 01/11/2017 -- The report "Marine Lubricants Market by Type (Mineral Oil, Synthetic, Bio-Based, and Grease), Application (Engine, Hydraulic, And Compressor), and Region - Global Forecast to 2021", The global market size of marine lubricants is estimated to be USD 5.40 Billion in 2016 and projected to witness a CAGR of 2.2% to reach USD 6.02 Billion by 2021.
Browse 106 market data Tables and 40 Figures spread through 146 Pages and in-depth TOC on "Marine Lubricants Market - Global Forecast to 2021"
Early buyers will receive 10% customization on this report.
The steady increase in global trade is expected to provide necessary boost to the marine lubricants market, during the forecast period.
Bio-based type to register the highest CAGR in the marine lubricants market between 2016 and 2021
The marine lubricants market is segmented into different types, namely, mineral oil, synthetic, bio-based, and grease. Bio-based lubricant is expected to register the highest CAGR in the marine industry between 2016 and 2021. The demand for bio-based lubricants is gaining momentum due to strong environmental regulations regarding the use of greener products. Some of the sources that involve release of lubricants into the environment directly are marine engines, stern tube leakages, and tanker/vessel spills. The use of bio-based lubricants can help in controlling pollution and they can be released into the environment directly, as they are bio-degradable and less toxic.
Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=246832885
Compressor to be the fastest-growing application for marine lubricants during the forecast period
Different types of compressors are used onboard a ship. Refrigeration compressors are used for air conditioning and refrigeration purpose, and air compressors are used for supplying compressed air for combustion in engines. Lubricants are used in these marine compressors to increase the performance of compressors at a wide range of temperatures. The expanding operations by the shipping companies on a global scale and increasing ship size is a major factor for the growing demand of compressors in the maritime industry.
Asia-Pacific to be the fastest-growing market for marine lubricants during the forecast period
Asia-Pacific has the busiest ports among all other regions where a large number of trades take place. These ports are also hubs to carry out maintenance of ships that demand marine lubricants. Increasing trade activities and rising infrastructural developments in the shipping industry (in the form of increasing ports network) are driving high demand for marine lubricants.
Purchase Now @ http://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=246832885
Currently, the global marine lubricants market is dominated by various market players such as Total S.A. (France), BP PLC (U.K.), Royal Dutch Shell Plc. (Netherlands), Chevron Corporation (U.S.), Sinopec Corporation (China), Lukoil (Russia), Exxon Mobil Corporation (U.S.), Idemitsu Kosan Co. Ltd. (Japan), and Aegean Marine Petroleum Network Inc. (Greece).
Browse Related Reports:
Compressor Oil Market by Compressor Type (Positive Displacement and Dynamic), Base Oil Type (Synthetic, Semi-Synthetic, Mineral and Bio-based) and End-Use Industry (Manufacturing, Oil & Gas, Power, and Automotive) - Global Trends & Forecasts to 2021
Grease Market by Type (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener, and Others), and by End-use Industry (automotive, construction & off-highways, general manufacturing, steel, mining, and other) - Global Forecasts to 2021
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets