DUBLIN--(BUSINESS WIRE)--The "Marine Grease Market Analysis, By Thicker Type (Lithium Complex, Calcium), By End-Use (Bulk Carrier & Cargo Ships, Passenger Ships, Tankers), By Region, And Segment Forecasts, 2014 - 2025" report has been added to Research and Markets' offering.
The global marine grease market is expected to reach USD 348.4 million by 2025
Increasing demand from the various end-use segments is a key factor driving the growth. The robust growth from shipping industry in Asia Pacific is expected to boost the market further over the forecast period.
Marine grease is a semi-solid substance, used in various vessels such as bulk carrier ships, cargo ships, tankers, passenger vessels as it provides enhanced lubrication under salty water conditions. In addition, it has numerous applications in high temperature and pressure conditions. The market is mainly driven by the demand for the bulk carriers and cargo vessels, as they are exposed to the complex operating environment during transportation of industrial and consumer goods.
In terms of revenue, lithium complex thickener accounted as the largest segment in 2016 and is anticipated to continue its trends with a growth rate of 4.7% over the forecast period. Increasing need for environmentally compatible and multi-purpose grease are the factors anticipated to propel the growth.
The demand is expected to surge owing to the development of new ports in the Asia Pacific region. Different grades as classified by the National Lubricating Grease Institute (NLGI) are used in various end-use areas as they provide the required properties such as resistance to water wash out, and corrosion prevention. Various types of NLGI graded greases are available to cater the requirement of the different types of vessels.
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Marine Grease Market Industry Outlook
4. Marine Grease Market: Thicker Type Estimates & Trend Analysis
5. Marine Grease Market: End Use Type Estimates & Trend Analysis
6. Marine Grease Market: Regional Estimates & Trend Analysis, by Application & End Use
7. Competitive Landscape
8. Company Profiles
- British Petroleum
- CHEVRON Lubricants
- Exxon Mobil Company
- Gulf Oil Marine Ltd.
- Lucas Oil Products Inc
- LUK OilMarine
- Old World Industries
- Penrite Oil Co., Ltd
- Total Lubmarine
- Warren Oil
For more information about this report visit https://www.researchandmarkets.com/research/xnpx3w/marine_grease