Energy Industry News
Home | Energy News | Submit Press Release | About Us

Free Utility & Energy Magazines
Press release distribution service

Energy Media
Clean Energy Report
Colorado Energy News
Energy: MIT Tecnology Review
Energy Business Review
Energy Cities
Fuel Fix
Financial Times
Interfax Energy
Green Energy Times
News York Times
NBC News
Oil & Gas Investor
Oil Price
Science Daily
Renewable Energy World
Renewable Energy Transportation
The Daily Energy Report
The Energy Daily

Energy Industry News Releases

Marine Lubricants Market Size, Share and Forecast 2026

(EnergyIndustry.Net, October 07, 2019 ) Market Overview
• Marine lubricants are oil formations that are used extensively in various types of machinery located on large ships usually to reduce the friction between the surfaces in contacts, which in turn prevents their wear and tear. These lubricants lost from the marine vessels and machinery (not accidental spills) enters the aquatic ecosystem, where severe damage to the aquatic ecosystem can take place. Hence the usage of Ecosystem friendly and Biodegradable Marine lubricants is on the rise. According to the Swedish Club, a mutual marine insurance company, lubrication oil failures is the most common and expensive kind of damage.
• Further, IMO 2020, will enforce strict global regulation on the sulphur content of no greater than 0.5% following which will cause marine lubricant oil manufacturers to reassess the lubrication characteristics and requirements of their products.

Market Dynamics
• The global market for the Marine Lubricants is primarily driven by the growing shipping industry in the world. Shipping remains the most cost-effective way to transport the vast majority of international trade and will be central to global development and growth in the future. According to the United Nations conference on Trade and Development (UNCTAD), around 80% of the global trade by volume and over 70% of the global trade by value are carried by sea. In the forthcoming years, expanding at 4%, global maritime trade will gather momentum and will raise sentiment in the shipping industry.
• Further, global shipping ports are principal infrastructural assets that service shipping and trade, and their performance is largely determined by developments in the world economy and trade. According to the annual review of maritime transport by UNCTAD, the global port activity has increased considerably since 2017. Global container containers boasted an increase in the volume of about 6% during the year, up from 2.1% in 2016, and it is expected to increase further in the forecasted years. Increasing growth of the shipping industry and the trade along with the rise in the imports and exports will majorly augment the marine lubricants market in the forecasted years.
• However, the Marine Lubricants market is expected to face an unnerving challenge ahead due to the various regulations imparted that are being imparted. For instance, IMO 2020, will demand sulfur content in marine fuels to be not more than 0.5% whereas the current permissible value stands at 3.5%. This imposition of the rules is expected to affect the Marine lubricant market directly as lubricants work accordingly to the fuel used. Further, the usage of Environmentally Acceptable Lubricants (EALs) is in demand considering the marine ecosystem, thus putting the manufacturers to requirements.

Market Segmentation
• By Product Type, the Global Marine Lubricants market is segmented into Diesel Engine oils, Compressor Oils, Hydraulic oils, Refrigeration oils, Gear oils, Heat Transfer oils, and others. Diesel Engine Oils have three different marine Diesel application- Slow-speed, two-stroke crosshead engines (60-250 rpm), Medium-speed, four-stroke trunk piston engines (400-1000 rpm), High-speed, four-stroke engines (>1000rpm). Slow-speed engines are the predominant ones whereas high-speed ferry market is relatively new. Turbine oils are suitable for all kinds of equipment where an economical, yet high-quality, stable lubricant with good water-separating characteristics is sufficient. Comparing to Turbine oils, Hydraulic oils are more advanced, particularly concerning anti-wear performance, air release properties, and viscosity index.
• By Ship type, the Global Marine Lubricants market is bifurcated into Containers, Tankers, Bulk Carriers, and RORO. Bulk Carriers account for the largest share of the world fleet in dead-weight tonnage according to UNCTAD. This, in turn, goes along with the consumption of the marine lubricants. Bulk carriers are followed by Oil Tankers, which account for 29.2% of total dead-weight tonnage. Then comes Container ships in the consumption of marine lubricants following Bulk carriers and Tankers.
• By Oil Type, the Global Marine Lubricants market is segmented into Mineral, Synthetic, and Bio-Degradable. In 2018, Mineral lubricants segment dominated the market and is expected to maintain its dominance during the forecast period. However, bio-degradable lubricants segment is expected to witness higher CAGR during the forecast period. The demand of Environmentally Acceptable Lubricants (EALs) are increasing to meet the standards of toxicity, biodegradability and bioaccumulation potential that are supposed to minimize their consequences in the aquatic environment, when compared to synthetic and mineral lubricants. Even though synthetic lubricants are more expensive than mineral-oil based lubricants, they offer operating and performance advantages that decrease operating costs. For example, the synthetic lubricant is the preferred choice for lubricating cargo gas compressors that compress various gases.

Geographical Analysis
• By Geography, the global marine lubricants market is segmented into North America, Asia-Pacific, Europe, South America and the Middle East and Africa.
• Asia-Pacific region dominates the market share for Global Marine Lubricants market and is expected to the same in the forecasted years. This dominance is primarily attributed to superpower countries like China, India, Japan, and South Korea. The prime reason behind it is the growing shipping industries and the coming up of various new ports. According to UNCTAD, the largest ship owning country in terms of vessel numbers is China, with 5512 commercial ships of 1000 gross tons and above, many of which are developed in domestic trades as of 2017.
• North America is expected to follow the APAC region in terms of the market share of Marine Lubricants owing to the closely related maritime connectivity with other countries. UNCTAD liner shipping connectivity index provides an indicator of the country's position within the global shipping network. The liner shipping index is closely related to the trade competitiveness and hence gives a fair idea about the marine lubricants market. As of 2018, following Asian-Pacific giants of China and Korea, came Netherlands and Germany with an index of 98.0 and 97.1 respectively.

Competitive Analysis
• Key players in the market are adopting strategies such as mergers and partnerships, acquisitions, and regional expansion to stand out as strong competitors in the market. New product launches and increasing R&D are other ways the leading players improve their market presence.
• The major players in the market include Exxon Mobil, Shell, BP plc, Chevron Corporation, and Total S.A. (Total LubMarine). Other prominent players in the market are Klüber Lubrication, Lukoil Marine Lubricants, Eni S.p.A., Sinopec, and Idemitsu Kosan Global.

• The major players have already starting to devise their strategies in response to the new Rules and regulations that are being imposed by the International Maritime Organization (IMO) in 2020. For instance, Total SA has already started the work on next-generation fuels and lubricants to support the 2020 strategy. Experts from across Total SA will tour the world's major shipping hubs to discuss safe solutions and safe operations in 2020 and beyond.
• On May 1, 2019, Chevron U.S.A Inc (CUSA), a wholly owned subsidiary of Chevron Corporation completed its acquisition from Petrobras America Inc. for all outstanding shares and equity interests of Pasadena Refining System, Inc(PRSI) and PRSI Trading LLC. This acquisition will build on the strength of the company's Gulf Coast business, enabling more supply of the retail market in the region with Chevron-produced products and positions for better connectivity to substantial upstream assets in the Permian Basin.
• On 3rd September 2018, Klüber Lubrication developed the new, ultimately biodegradable high-performance lubricant Klüber BM 32-142 especially for the eco-friendly lubrication of rolling and plain bearings subject to extreme maritime conditions. This has been one significant development as this lubricant complies with the requirement for the classification as an Environmentally Acceptable Lubricant (EAL) in terms of biodegradability as defined by the US Environmental Protection Agency for the “2013 Vessel General Permit”.

View full sample report:

Download free sample:

About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Tel: +1 877 441 4866

DataM Intelligence

Sai Kiran

+1 877 441 4866

Source: EmailWire.Com

Renewable Energy News

Press release service Free Utility & Energy Magazines
Press release distribution service
:: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at

Copyright 2008 GroupWeb Media LLC
GroupWeb Media Network

Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | | iT-NewsWire.Com
| i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
EnergyIndustry.Net is a Energy news service of GroupWeb Media LLC