Marine Lubricant Market, By Product Type, By Application, By Geography

Description

The marine lubricant Market size is valued at US$ 6 Bn in 2024 and is expected to reach US$ 6.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 1.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2023/2024:	US$ 6 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 - 2031
Forecast Period 2023/2024 to 2030/2031 CAGR:	1.60%	2030/2031 Value Projection:	US$ 6.7 Bn

Figure 1. Global Marine Lubricants Market Share (%), By Region, 2024

The global marine lubricants market has been growing steadily over the past few decades, owing to the expansion of seaborne trade activities. Marine lubricants play a vital role in reducing friction between moving parts and surfaces on marine vessels and offshore rigs. They help prolong the lifespan of engines by protecting their components from corrosion and wear and tear. Advances in additive technology have led lubricant manufacturers to develop high-performance formulations that can withstand extreme pressures and temperatures beneath oceans. The international trade and investment in offshore oil & gas exploration are expected to drive the demand for marine lubricants in the coming years.

Market Dynamics:

The global marine lubricants market is driven by increasing marine trade volumes and the expansion of the global shipping fleet market. International seaborne trade has more than doubled in the last two decades with over 80% of global trade by volume being transported by sea. The demand for marine lubricants is also gaining from the rising energy demand worldwide and increasing offshore drilling and production activities. However, stringent environmental regulations regarding sulphur emissions from ships and the adoption of advanced engine oils that improve fuel efficiency are impacting the sales of conventional lubricants. Market players are investing in science-led innovation to develop environment-friendly bio-based and synthetic lubricant formulations with a lower carbon footprint. The International Maritime Organization's low sulphur mandate implemented since 2020 has created opportunities for manufacturers to provide compliant lubricating solutions and capture more sales in the coming years.

Key features of the study:

This report provides in-depth analysis of the Global Marine Lubricants Market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in The global marine lubricants market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Lubmarine (Total Group), Royal Dutch Shell Plc., BP Marine, Chevron, ExxonMobil Corporation, Sinopec Corporation, Castrol, Gulf Marine and Industrial Supplies Inc., Lukoil Marine Lubricants, Quepet Lubricants, JX Nippon Oil & Energy Corporation, Idemitsu Kosan Co., Ltd., and IKO Marine Lubricant Supply Co. Ltd
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global marine lubricants market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global marine lubricants market.

Detailed Segmentation:

Global Marine Lubricants Market, By Product Type
- Mineral Lubricants
- Synthetic Lubricants
- Bio Lubricants
Global Marine Lubricants Market, By Application
- Engine Oils
- Hydraulic Oils
- Grease
- Others
Global Marine Lubricants Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Top Companies in the Global Marine Lubricants Market
- Lubmarine (Total Group)
- Royal Dutch Shell Plc.
- BP Marine
- Chevron
- ExxonMobil Corporation
- Sinopec Corporation
- Castrol
- Gulf Marine and Industrial Supplies Inc.
- Lukoil Marine Lubricants
- Quepet Lubricants
- JX Nippon Oil & Energy Corporation
- Idemitsu Kosan Co., Ltd.
- IKO Marine Lubricant Supply Co. Ltd

Product Code: CMI481

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Increasing seaborne trade
Growth in the shipping industry
- Restraints
Environmental concerns regarding marine lubricant disposal
Implementation of international maritime laws
- Opportunities
Growing demand for bio-based marine lubricants
Advanced greases and fluids
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Marine Lubricants Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Marine Lubricants Market, By Product Type, 2019 - 2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Mineral Lubricants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
Synthetic Lubricants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
Bio Lubricants
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)

6. Global Marine Lubricants Market, By Application, 2019 - 2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Engine Oils
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
Hydraulic Oils
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
Grease
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)

7. Global Marine Lubricants Market, By Region, 2019- 2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, By Region, 2019 - 2031
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019 - 2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn)
Brazil
Argentina
Mexico
Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031,(US$ Bn)
GCC Countries
Israel
Rest of Middle East

8. Competitive Landscape

Company Profiles
- Lubmarine (Total Group)
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Royal Dutch Shell Plc.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- BP Marine
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Chevron
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Exxon Mobil Corporation
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Sinopec Corporation
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Castrol
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Gulf Marine and Industrial Supplies Inc.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Lukoil Marine Lubricants
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Quepet Lubricants
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- JX Nippon Oil & Energy Corporation
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- Idemitsu Kosan Co., Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
- IKO Marine Lubricant Supply Co. Ltd
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Strategies
Analyst Views

9. Section

References
Research Methodology
About us