DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Marine Lubricants Market - Global Forecast to 2021" report to their offering.
The market size of marine lubricants is projected to reach USD 6.02 billion by 2021, registering a CAGR of 2.2% between 2016 and 2021. The growth rate is expected to be steady during the forecast period. The market is expected to register a nominal growth due to increase in bilateral trade between different nations. The major factors restraining the growth of the market are less trade activities and rising number of idle ships.
Mineral oil lubricants are available in light and heavy grades depending on the usage and requirement. They are produced in large quantities because of its high demand in different marine applications such as engines, turbines, and stern tubes. The market for mineral oil is driven by demand from Asia-Pacific and Europe. The mineral oil marine lubricants market in North America and Central & South America will register a low growth rate due to the slow economic growth and strict marine laws.
The main function of the lubricating oil is to help in the formation of thick film of oil in between the moving parts of the machinery, which reduces the wear and friction in between the moving parts of engine. There are two types of oils used in the ship/vessel, cylinder oil and system oil. Lesser maintenance cost and longer running time for different vessels are generating huge demand for engine oil across the shipping industry.
Companies Mentioned
- Aegean Marine Petroleum Network Inc.
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Avin Oil S.A.
- BP PLC.
- Chevron Corporation
- Exxonmobil Corporation
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Fuchs Petrolub Se
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Gulf Oil
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Idemitsu Kosan
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Indian Oil Corporation
- JX Nippon Oil & Energy Corporation
- Lukoil
- Petronas Lubricants International
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Quepet Lubricants
- Royal Dutch Shell PLC.
- Sinopec Corporation
- Stanley Group
- Total S.A.
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Unimarine LLC
- Vickers Oil
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World Fuel Service Corporation
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Marine Lubricants Market, By Oil Type
8 Marine Lubricants Market, By Application
9 Marine Lubricants Market, By Ship Type
10 Marine Lubricants Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/bz6xsx/marine_lubricants
