February 23rd , 2023/Industry News Global/ -- This new report from Stratview Research analyses the Marine Lubricants Market over the trend period from 2014 to 2019 and the forecast period from 2020 to 2026. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Marine Lubricants Market Overview:

Marine Lubricants Market is likely to witness a moderate CAGR of 1.9% during the forecast period.

Drivers

The key market drivers are:

The major factors contributing to the increasing growth of the marine lubricants market are surge in world trade, new shipbuilding abilities and dry-docking activities.

What are marine lubricants?

Marine Lubricants are used to reduce friction and heat generation between the surfaces when the surfaces move. These are also responsible for transmitting forces, transporting foreign particles, or heating or cooling the surfaces while they are moving. The increased emission of harmful nitrogen and sulfur oxide into the sea has drawn attention of the lubricant manufacturers to adopt quick measures to continue their operations in the market. Less emission will lead to better quality and durability of marine lubricants used in ships, prolonging the service life of the mechanical equipment’s. All the technological advancements in the marine industry play a crucial role in the growth of marine lubricants.

Key Players

Some of the major marine lubricant manufacturers are-

• BP plc

• Royal Dutch Shell plc

• Exxon Mobil Corporation

• Chevron Corporation

• Sinopec Corporation

• PJSC Lukoil

• Idemitsu Kosan Co., Ltd.

• Total S.A.

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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