The global marine lubricants market size was valued at USD 7,395.1 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. Rising demand for durable products and increasing trade activities, especially in emerging economies of Asia Pacific, are among the key trends escalating market growth. The U.S. is the largest consumer of the product in North America with a revenue share of 70.9% in 2022. Marine engine oils are the major segment within the marine lubricants market space in the U.S. The production of finished goods that are in high demand in emerging economies is resulting in increased exports from the U.S. As air transport has its limitations, goods are transported through the sea route. Marine lubricants are widely utilized in the shipping industry to protect and enhance the efficiency of engines and equipment. These are high-performance fuels, specially designed to enable optimal performance in operations. They possess various exceptional inherent characteristics such as extending engine life and protecting components at high temperatures, improving performance and reliability of machinery, enhancing protection from mechanical wear and mitigating cold corrosion.

Gather more insights about the market drivers, restrains and growth of the Global Marine Lubricants Market

Marine Lubricants Market Report Highlights

• Hydraulic oils are anticipated to emerge as the fastest-growing segment over the forecast period. These are used for extending pump life under severe conditions, maintain cleanliness, and reliable air release filterability. Lubricants are also utilized in gear oil for the protection of high horsepower marine engines. The product is fortified with anti-foaming agents, which prevents cavitation at high RPM’s.
• North America is projected to remain a prominent regional market, registering a CAGR of 3.7% during the forecast period. The growth of the region can be attributed to rally of the marine sector.
• Asia Pacific is likely to remain the fastest-growing region with a 4.6% CAGR from 2023 to 2030. Some of the factors contributing to the growth of APAC are increasing number of ports, surging trade activities with the U.S. and other developed economies, and rapidly expanding shipbuilding sector.
• Major industry participants are increasingly engaging in R&D, strategic collaborations, new product launches, and other strategies in order to consolidate their positions in the market.

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• The global ethylene oxide market size was valued at USD 36.10 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2030. 
• The global automotive engine oil market size was valued at USD 41.2 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2030.

Segments Covered in the Report

Grand View Research has segmented the global marine lubricants market on the basis of product, and region.

Marine Lubricants Product Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Engine oil
• Hydraulic oil
• Gear oil
• Turbine oil
• Greases
• Others (Compressor Oil, Refrigeration Oil, Heat Transfer Oil)

Marine Lubricants Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Switzerland
  • France
  • Italy
  • Spain
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Southeast Asia
  • Oceania
  • Kyrgyzstan
• Central & South America
  • Brazil
  • Argentina
  • Chile
  • Colombia
• Middle East & Africa
  • Iran
  • Oman
  • UAE
  • Qatar
  • Kuwait
  • Saudi Arabia
  • South Africa
  • Angola
  • Nigeria

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