Market Overview
• The Global Marine Lubricants Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
• Marine lubricants are oil formations that are used extensively in various types of machinery located on large ships usually to reduce the friction between the surfaces in contacts, which in turn prevents their wear and tear. These lubricants lost from the marine vessels and machinery (not accidental spills) enters the aquatic ecosystem, where severe damage to the aquatic ecosystem can take place. Hence the usage of Ecosystem friendly and Biodegradable Marine lubricants is on the rise. According to the Swedish Club, a mutual marine insurance company, lubrication oil failures is the most common and expensive kind of damage.
• Further, IMO 2020, will enforce strict global regulation on the sulphur content of no greater than 0.5% following which will cause marine lubricant oil manufacturers to reassess the lubrication characteristics and requirements of their products.

Market Dynamics
• The global market for the Marine Lubricants is primarily driven by the growing shipping industry in the world. Shipping remains the most cost-effective way to transport the vast majority of international trade and will be central to global development and growth in the future. According to the United Nations conference on Trade and Development (UNCTAD), around 80% of the global trade by volume and over 70% of the global trade by value are carried by sea. In the forthcoming years, expanding at 4%, global maritime trade will gather momentum and will raise sentiment in the shipping industry.

Market Segmentation
• By Product Type, the Global Marine Lubricants market is segmented into Diesel Engine oils, Compressor Oils, Hydraulic oils, Refrigeration oils, Gear oils, Heat Transfer oils, and others. Diesel Engine Oils have three different marine Diesel application- Slow-speed, two-stroke crosshead engines (60-250 rpm), Medium-speed, four-stroke trunk piston engines (400-1000 rpm), High-speed, four-stroke engines (>1000rpm). Slow-speed engines are the predominant ones whereas high-speed ferry market is relatively new. Turbine oils are suitable for all kinds of equipment where an economical, yet high-quality, stable lubricant with good water-separating characteristics is sufficient. Comparing to Turbine oils, Hydraulic oils are more advanced, particularly concerning anti-wear performance, air release properties, and viscosity index.
• By Ship type, the Global Marine Lubricants market is bifurcated into Containers, Tankers, Bulk Carriers, and RORO. Bulk Carriers account for the largest share of the world fleet in dead-weight tonnage according to UNCTAD. This, in turn, goes along with the consumption of the marine lubricants. Bulk carriers are followed by Oil Tankers, which account for 29.2% of total dead-weight tonnage. Then comes Container ships in the consumption of marine lubricants following Bulk carriers and Tankers.
• By Oil Type, the Global Marine Lubricants market is segmented into Mineral, Synthetic, and Bio-Degradable. In 2018, Mineral lubricants segment dominated the market and is expected to maintain its dominance during the forecast period. However, bio-degradable lubricants segment is expected to witness higher CAGR during the forecast period. The demand of Environmentally Acceptable Lubricants (EALs) are increasing to meet the standards of toxicity, biodegradability and bioaccumulation potential that are supposed to minimize their consequences in the aquatic environment, when compared to synthetic and mineral lubricants. Even though synthetic lubricants are more expensive than mineral-oil based lubricants, they offer operating and performance advantages that decrease operating costs. For example, the synthetic lubricant is the preferred choice for lubricating cargo gas compressors that compress various gases.

Geographical Analysis
By Geography, the global marine lubricants market is segmented into
• North America,
• Asia-Pacific,
• Europe,
• South America
• The Middle East
• and Africa.

Company Profiles
The major players in the market include
• Exxon Mobil,
• Shell,
• BP plc,
• Chevron Corporation,
• and Total S.A. (Total LubMarine


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