Marine lubricants refer to lubricating oil and lubricating grease that used in marine industry. The use of lubricants and lubricant parameters on ships is an important role managed by the main engine lube oil system. This consists of a pump that pressurizes the oil, circulating it through a set of filters and a cooler before distribution to all the moving components of the diesel engine.
The international marine lubricants market has experienced unprecedented transformation in the last few years as changing environmental regulations, more demanding operating conditions, new engine technology, and clients' resulting need for greater support have converged to dramatically alter the context in which lubricant manufacturers and marketers compete. At the same time the shipping industry is in a period of uncertainty as economic recovery remains elusive and shipping rates for some segments depressed.
Global marine cylinder oil market size is expected to register growth at over 2.6% and exceed 1246 K MT till 2023. The marine cylinder oil market is a very concentrated market; the revenue of top ten manufacturers accounts about 90% of the total revenue in 2017. The high-end products mainly come from Europe and USA.
Modernization and maintenance of sea transportation projects has led to the increasing demand for marine cylinder oil. Increasing sea transportation projects across the globe, especially in the Asia-Pacific is another major factor, driving the growth of the marine cylinder oil market during the forecast period.
With increased focus on sea transportation, the marine cylinder oil market is likely to witness a growth in coming years.
The global Marine Cylinder Oil market is valued at 2510 million US$ in 2018 is expected to reach 3060 million US$ by the end of 2025, growing at a CAGR of 2.5% during 2019-2025.
The report provides profiles of leading players operating in the global marine cylinder oil market such as: BP, ExxonMobil, Shell, Total, Chevron, Sinopec, Lukoil, Idemitsu, Quepet, Gulf, JX Nippon
This report focuses on Marine Cylinder Oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Marine Cylinder Oil market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
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