The global marinelubricants market size is anticipated to reach USD 9.47 billion by 2026owing to the increasing need to protect engines from corrosion. This
information is provided by a published report by Fortune Business Insights™.
The title of the report is, “MarineLubricants Market Size, Share & Industry Analysis, By Product (Marine
Cylinder Oil, Piston Engine Oil, System Oil, and Others; By Ship Type (Bulk
Carrier, Oil Tankers, General Cargo, Container Ships, Others), and Regional
Forecast, 2019-2026.” As per this report, the market value was USD 8.01billion in 2018 and will rise at a CAGR of 2.13% during the forecast period,
2019 to 2026.
The report provides a360-degree overview of the market, focusing on major growth parameters such as
drivers, restraints, challenges, trends, and opportunities. It also offers the
competitive landscape of the market and list of leading players. Segmentation
of the market based on factors such as product, ship type, and regions is
discussed in the report. Apart from this, key industry developments and other
interesting insights are provided in the marine lube market report. The report
is available for sale on the company website.
RisingFocus on Enhancing the Operability of Ship Engines will Drive Market
The rise in fuel priceshas propelled shipping companies to operate engines at maximum levels by slow
steaming and save fuel. However, marine engines are incapable of operating at
reduced rates continuously and this raises the possibility of corrosion in the
engine and its associated strained components. For ensuring proper and safe
functioning of engines, marine lubricants are a necessity. The above factor
stands as a major driver for the marine lubricants market growth. Additionally,
the rise in trade relations between nations and the expansion of e-commerce
overseas are also helping the market gain impetus.
