Marine Lubricants Market by Product (Mineral, Synthetic, Bio)- Turkey Industry Analysis with Size, Share and Opportunities by 2022
Demand of marine lubricants in Turkey is expected to rise due to the growth in increased marine traffic across the Turkish straits and increased domestic consumption. The Ministry of Environment in Turkey has established several regulations for environmental protection and simultaneously ensures that shipping companies strictly comply with these regulations.
Albany, NY -- (SBWire) -- 11/02/2015 --Lubricants play a vital role in reducing friction between, and wear and tear of operating parts in different machines. Sometimes, movement of certain mechanical parts is possible only by the use of lubricants. This property to reduce friction is known as lubricity. A good lubricant is expected to possess different properties, namely high boiling point, high viscosity index, corrosion prevention ability, thermal stability, low freezing point and high resistivity to oxidation. Lubricants are known to increase operational life of mechanical parts, thereby providing higher efficiency output. Lubricants are employed for the smooth operation of mechanical parts and to remove residue deposited over them.
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Basic raw materials utilized in manufacturing marine lubricants comprise mineral oils, synthetic oils or bio- based lubricants. Refinement of petroleum or crude oil leads to the production of mineral oil while synthetic oils are obtained from polyalphaolefins, which are hydrocarbon-based polyglycols. Group I plants are capable of producing heavier grade oils such as bright stock. Feedstock utilized in manufacturing marine lubricants consists of bright stock oil. Bright stock oils are used to formulate different types of industrial and marine lubricants. Bio-lubricants are based on biodegradable and renewable feedstock. They are manufactured using bio-based materials such as palm oil, castor oil and other vegetable- and animal-derived oils. Marine lubricants mainly comprise of 90% base oils and 10% additives.
This research study analyzes the marine lubricants market in Turkey in terms of volume and revenue. The market has been segmented on the basis of product and application. For the research, the base year is 2013, while the forecast is for the period 2014–2022. Market data for all segments has been provided for the period 2013–2022. The report provides a comprehensive competitive landscape and features companies engaged in the marine lubricants business in Turkey. This report includes the key market dynamics affecting the demand for marine lubricants in Turkey. The report also provides a detailed industry analysis of the marine lubricants market in Turkey with the help of Porter's Five Forces model. The Porter's Five Forces analysis aids in understanding the five major forces that affect the industry structure and profitability of the marine lubricants market in Turkey. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis provides detailed insights into the business of marine lubricants in Turkey. Major drivers, restraints, and opportunities of the market were analyzed in detail and are illustrated in the report through graphs and tables. There are currently numerous drivers of the marine lubricants market in Turkey. One of the most prominent drivers is the rising demand for lubricants from shipping companies operating in the Turkish Straits.
Key application segments of marine lubricants were identified as engine oil, hydraulic oil, grease, and others (turbine oils, gear oils, compressor oils and heat transfer fluids). The marine lubricants market in Turkey was also analyzed by product type as mineral oil, synthetic, and bio-based marine lubricants. Key market participants in the marine lubricants business in Turkey include OMV Petrol Ofisi A.S., Prista Oil, and Lubrico. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
The report also includes Porters five forces model, value chain analysis of the market and market attractiveness analysis by product type. Some of the key companies that deal in mineral oil, synthetic and bio-based marine lubricants include Total Lubricants (Lubmarine), Royal Dutch Shell, Chevron, BP Marine, Castrol, and ExxonMobil. The report provides an overview of these companies followed by their financial revenue, business strategies and recent developments.
The research provides detailed analysis of companies dealing in marine lubricants, trend analysis and demand forecast by geography. Various levels of market segmentation for which estimate and forecast has been provided are as follows:
Turkey marine lubricant market, by product type
Mineral oil marine lubricants
Synthetic marine lubricants
Bio-based marine lubricants
Turkey marine lubricant market, by application
Engine oil marine lubricants
Hydraulic oil marine lubricants
Others (turbine oils, gear oils, compressor oils and heat transfer fluids)
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