Press Release

Will Marine Lubricants Market carry its growth momentum post COVID-19? Read more to know

iCrowdNewswire Mar 10, 2021 7:31 AM ET

The Marine Lubricants Market is expected to grow at > 1.9% during 2020-2025, according to a report from Stratview Research.


COVID-19 pandemic – Boon or a Curse to the industry?

The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.

Key insights on Marine Lubricants Market

Marine Lubricants Market is likely to witness a moderate CAGR of 1.9% during the forecast period. The major factors contributing towards the increasing growth of the marine lubricants market are surge in world trade, new shipbuilding abilities and dry-docking activities.

Regional Insights

Asia-Pacific is estimated to be the largest as well as the fastest-growing marine lubricants market during the forecast period, because of the presence of the busiest ports in the region. Increasing trade activities and rising infrastructural developments in the shipping industry (in the form of increasing ports network) are responsible for the high demand for marine lubricants in the region.

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Market Scope & Market Segmentation

Marine Lubricants Market Share: By Oil Type

Based on the oil type, the market is segmented as mineral oil, synthetic oil, bio-based, and grease. The mineral oil segment held the largest share of the market in 2019, and is expected to register a moderate CAGR during the forecast period. The low cost and easy availability of mineral oil from crude extracts and their easy applicability in almost every marine application is driving the growth of this segment.

Marine Lubricants Market Share: By Product Type

Based on the product type, the market is segmented as engine oil, hydraulic fluid, compressor oil, and others. The engine oil segment is expected to dominate the market during the forecast period because of huge size of engine, high consumption, and smaller drain intervals; the engine requires large amount of fuels and lubricants which are the key factors driving the growth of the segment.

Marine Lubricants Market Share: By Ship Type

Based on the ship type, the market is segmented as bulk carriers, tankers, container ship, and others. The bulk carrier segment is expected to dominate the marine lubricants market during the forecast period.

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Which key questions will this report answer?

This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.

Some of the key questions answered by the report are:

  • What is the impact of COVID-19 on the market forecast?
  • What are the trends, drivers, and challenges?
  • How competitive is the market? Who are the market leaders?
  • What are the key strategies adopted by the market players?
  • Which segments offer the greatest opportunities?
  • Which are the most attractive regions?
  • What are the key success factors for the market players?
  • How does the business environment impact the market?
  • Which strategic alliances have taken place recently and their significance?

Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.

Know more about us:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.

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