Market Overview:
The global marine lubricating oil market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for marine lubricants from various end-use industries, such as engine oil, hydraulic oil, gear oil, turbine oil and heat transfer fluids. In addition, the growing awareness about the benefits of using synthetic and bio-based oils is also contributing to the growth of this market. The mineral oils segment is expected to dominate the global marine lubricating oil market during 2018-2030 owing to its low cost and wide availability across regions. However, synthetic oils are projected to witness highest CAGR over the forecast period on account of their superior properties that offer better performance than mineral oils in extreme operating conditions.
Product Definition:
Marine lubricating oil is a type of oil that is specifically designed for use in maritime applications. It has a higher viscosity than traditional engine oils, and it also contains additives that help protect against corrosion and wear. Marine lubricating oil is important because it helps keep engines and other machinery running smoothly in harsh environments.
Mineral Oil:
Mineral oil is a colorless, tasteless liquid consisting of paraffin and other hydrocarbons. It is widely used as an industrial solvent and as a raw material in the production of various chemicals such as solvents, adhesives, paints & coatings. Mineral oils are also utilized for their health benefits in the form of dietary supplements which include maintaining heart health and reducing cholesterol levels among others.
Synthetic Oil:
Synthetic oil is a man-made product and has no relation to the natural oils. It is produced by the chemical synthesis of oleochemicals such as glycerol, polyethylene, and propylene. Synthetic lubricating oils are manufactured for specific applications in various industries including marine. They have different formulations based on their use in diesel engines, where some are designed for high temperatures & pressures others for low temperature & high pressure situations.
Application Insights:
Engine oil dominated the global marine lubricating oil market in 2017, accounting for over 60.0% share of the overall revenue. The segment is expected to witness significant growth on account of increasing demand from commercial ships and offshore platforms for maintenance purposes. Furthermore, growing use of engine oils in diesel engines as well as gas turbine power plants will drive the product demand over the forecast period.
Hydraulic oil accounted for a considerable market share in terms of volume and is projected to grow at a CAGR exceeding 4% during the forecast period owing to its wide application scope including agriculture machinery, construction equipment, mining trucks.
Regional Analysis:
Asia Pacific was the largest market in 2016 and is expected to continue its dominance over the forecast period. The region accounts for approximately 60% of global demand owing to rapid industrialization, coupled with increasing automotive production in countries such as China, India, Thailand and Indonesia. Furthermore, rising population along with increased living standards have resulted in an increase in consumer spending on transportation equipment including cars and aircrafts which will further drive product demand over the next eight years.
The European market is driven by stringent government regulations regarding lubricant quality coupled with growing environmental concerns regarding petroleum-based products that are prone to corrosion. Increasing R&D activities related to marineubricants due to their superior properties such as resistance against heat & wear & tear at high temperatures are anticipatedto drive industry growth over the coming years.
Growth Factors:
- Increasing demand from the shipping and marine industry for high-quality lubricating oils that can improve fuel efficiency and reduce emissions.
- Growing awareness of the benefits of using marine lubricating oils, especially among ship owners and operators who are looking to reduce costs and increase efficiency.
- The increasing popularity of synthetic marine lubricants, which offer better performance than traditional mineral-based products.
- The development of more advanced technologies that allow for the use of lower viscosity lubricants, resulting in improved fuel economy and reduced emissions levels. 5) Regulations encouraging the use of environmentally friendly products such as marine lubricating oils are likely to drive market growth in the coming years
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Lubricating Oil Market Research Report
By Type
Mineral Oil, Synthetic Oil, Bio-Based Oil
By Application
Engine Oil, Hydraulic Oil, Gear Oil, Turbine Oil, Heat Transfer Fluids, Compressor Oil
By Companies
Total Group, BP, Shell, Chevron, ExxonMobil, Lukoil Marine Lubricants DMCC, China Petrochemical Corporation, JXTG Nippon Oil & Energy Corporation, Idemitsu Kosan Co., Ltd., FUCHS, Gulf Oil Marine Ltd., Petroliam Nasional Berhad, Indian Oil Corporation Ltd.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Marine Lubricating Oil Market Report Segments:
The global Marine Lubricating Oil market is segmented on the basis of:
Types
Mineral Oil, Synthetic Oil, Bio-Based Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Engine Oil, Hydraulic Oil, Gear Oil, Turbine Oil, Heat Transfer Fluids, Compressor Oil
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Total Group
- BP
- Shell
- Chevron
- ExxonMobil
- Lukoil Marine Lubricants DMCC
- China Petrochemical Corporation
- JXTG Nippon Oil & Energy Corporation
- Idemitsu Kosan Co., Ltd.
- FUCHS
- Gulf Oil Marine Ltd.
- Petroliam Nasional Berhad
- Indian Oil Corporation Ltd.
Highlights of The Marine Lubricating Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Oil
- Synthetic Oil
- Bio-Based Oil
- By Application:
- Engine Oil
- Hydraulic Oil
- Gear Oil
- Turbine Oil
- Heat Transfer Fluids
- Compressor Oil
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Lubricating Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine lubricating oil is a type of oil that is used to reduce friction and wear in marine engines. It is also used as a fuel additive in some diesel engines.
Some of the key players operating in the marine lubricating oil market are Total Group, BP, Shell, Chevron, ExxonMobil, Lukoil Marine Lubricants DMCC, China Petrochemical Corporation, JXTG Nippon Oil & Energy Corporation, Idemitsu Kosan Co., Ltd., FUCHS, Gulf Oil Marine Ltd., Petroliam Nasional Berhad, Indian Oil Corporation Ltd..
The marine lubricating oil market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine Lubricating Oil Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Marine Lubricating Oil Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine Lubricating Oil Market - Supply Chain
4.5. Global Marine Lubricating Oil Market Forecast
4.5.1. Marine Lubricating Oil Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Lubricating Oil Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Lubricating Oil Market Absolute $ Opportunity
5. Global Marine Lubricating Oil Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Marine Lubricating Oil Market Size and Volume Forecast by Type
5.3.1. Mineral Oil
5.3.2. Synthetic Oil
5.3.3. Bio-Based Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine Lubricating Oil Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Marine Lubricating Oil Market Size and Volume Forecast by Application
6.3.1. Engine Oil
6.3.2. Hydraulic Oil
6.3.3. Gear Oil
6.3.4. Turbine Oil
6.3.5. Heat Transfer Fluids
6.3.6. Compressor Oil
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine Lubricating Oil Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Marine Lubricating Oil Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Marine Lubricating Oil Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Marine Lubricating Oil Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Marine Lubricating Oil Demand Share Forecast, 2019-2026
9. North America Marine Lubricating Oil Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Marine Lubricating Oil Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Marine Lubricating Oil Market Size and Volume Forecast by Application
9.4.1. Engine Oil
9.4.2. Hydraulic Oil
9.4.3. Gear Oil
9.4.4. Turbine Oil
9.4.5. Heat Transfer Fluids
9.4.6. Compressor Oil
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Lubricating Oil Market Size and Volume Forecast by Type
9.7.1. Mineral Oil
9.7.2. Synthetic Oil
9.7.3. Bio-Based Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Marine Lubricating Oil Demand Share Forecast, 2019-2026
10. Latin America Marine Lubricating Oil Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Marine Lubricating Oil Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Marine Lubricating Oil Market Size and Volume Forecast by Application
10.4.1. Engine Oil
10.4.2. Hydraulic Oil
10.4.3. Gear Oil
10.4.4. Turbine Oil
10.4.5. Heat Transfer Fluids
10.4.6. Compressor Oil
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Lubricating Oil Market Size and Volume Forecast by Type
10.7.1. Mineral Oil
10.7.2. Synthetic Oil
10.7.3. Bio-Based Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Marine Lubricating Oil Demand Share Forecast, 2019-2026
11. Europe Marine Lubricating Oil Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Marine Lubricating Oil Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Marine Lubricating Oil Market Size and Volume Forecast by Application
11.4.1. Engine Oil
11.4.2. Hydraulic Oil
11.4.3. Gear Oil
11.4.4. Turbine Oil
11.4.5. Heat Transfer Fluids
11.4.6. Compressor Oil
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Lubricating Oil Market Size and Volume Forecast by Type
11.7.1. Mineral Oil
11.7.2. Synthetic Oil
11.7.3. Bio-Based Oil
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Marine Lubricating Oil Demand Share, 2019-2026
12. Asia Pacific Marine Lubricating Oil Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Marine Lubricating Oil Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Marine Lubricating Oil Market Size and Volume Forecast by Application
12.4.1. Engine Oil
12.4.2. Hydraulic Oil
12.4.3. Gear Oil
12.4.4. Turbine Oil
12.4.5. Heat Transfer Fluids
12.4.6. Compressor Oil
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Lubricating Oil Market Size and Volume Forecast by Type
12.7.1. Mineral Oil
12.7.2. Synthetic Oil
12.7.3. Bio-Based Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Marine Lubricating Oil Demand Share, 2019-2026
13. Middle East & Africa Marine Lubricating Oil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Marine Lubricating Oil Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Marine Lubricating Oil Market Size and Volume Forecast by Application
13.4.1. Engine Oil
13.4.2. Hydraulic Oil
13.4.3. Gear Oil
13.4.4. Turbine Oil
13.4.5. Heat Transfer Fluids
13.4.6. Compressor Oil
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine Lubricating Oil Market Size and Volume Forecast by Type
13.7.1. Mineral Oil
13.7.2. Synthetic Oil
13.7.3. Bio-Based Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Marine Lubricating Oil Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Lubricating Oil Market: Market Share Analysis
14.2. Marine Lubricating Oil Distributors and Customers
14.3. Marine Lubricating Oil Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Total Group
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. BP
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Shell
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Chevron
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ExxonMobil
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lukoil Marine Lubricants DMCC
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. China Petrochemical Corporation
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. JXTG Nippon Oil & Energy Corporation
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Idemitsu Kosan Co., Ltd.
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. FUCHS
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Gulf Oil Marine Ltd.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Petroliam Nasional Berhad
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Indian Oil Corporation Ltd.
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
