San Francisco, 19 December 2018, Marine Grease Market Analysis, By Thicker Type (Lithium Complex,
Calcium), By End-Use (Bulk Carrier & Cargo Ships, Passenger Ships,
Tankers), By Region, And Segment Forecasts, 2018 – 2025
The global marine grease market is expected to reach USD
348.4 million by 2025, according to a new report by Grand View Research, Inc.
Increasing demand from the various end-use segments is a key factor driving the
growth. The robust growth from shipping industry in Asia Pacific is expected to
boost the market further over the forecast period.
Marine grease is a semi-solid
substance, used in various vessels such as bulk carrier ships, cargo ships,
tankers, passenger vessels as it provides enhanced lubrication under salty
water conditions. In addition, it has numerous applications in high temperature
and pressure conditions. The market is mainly driven by the demand for the bulk
carriers and cargo vessels, as they are exposed to the complex operating
environment during transportation of industrial and consumer goods.
In terms of revenue, lithium
complex thickener accounted as the largest segment in 2016 and is anticipated
to continue its trends with a growth rate of 4.7% over the forecast period.
Increasing need for environmentally compatible and multi-purpose grease are the
factors anticipated to propel the growth.
The demand is expected to surge
owing to the development of new ports in the Asia Pacific region. Different
grades as classified by the National Lubricating Grease Institute (NLGI) are
used in various end-use areas as they provide the required properties such as
resistance to water wash out, and corrosion prevention. Various types of NLGI
graded greases are available to cater the requirement of the different types of
vessels.
Access Full Research
Report On Marine Grease Market Analysis:
www.grandviewresearch.com/industry-analysis/marine-grease-market
www.grandviewresearch.com/industry-analysis/marine-grease-market
Further key findings from the report suggest:
·
Lithium complex based thickener
segment is expected to experience fastest growth in terms of value at a CAGR of
4.7% from 2017 to 2025 due to its property to serve as multipurpose grease
·
Bulk carrier & cargo ships
are expected to continue its dominance as the largest end-use segment in terms
of revenue and is anticipated to reach USD 150.9 million by 2025. Rising
purchasing power parity among emerging economies is expected to boost the
growth of operation and maintenance of passenger ship segment which in-turn
would boost the marine grease, expanding at a CAGR of 5.2% between the period
from 2017 to 2025
·
Asia Pacific market was valued
at USD 88.2 million in 2016 and is projected to reach USD 139.8 million by
2025. Asia Pacific is expected to experience a surge in demand over the next
eight years owing to new ports constructed in this region. In terms of revenue,
the regional market is expected to grow at a CAGR of 5.3% between 2017 to 2025
·
Key players including
ExxonMobil Corporation, Chevron Lubricants, Shell Plc, Total Lubmarine, Lukoil
Marine, Gulf Oil Marine, Penrite Oil are expected to hold significant share in
the global market
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the
global marine grease market on the basis of end-use, thickener type and region:
End-use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Bulk Carrier & Cargo Ships
·
Passenger Ships
·
Tankers
·
Others
Thickener Type Outlook
(Revenue, USD Million, 2014 - 2025)
·
Lithium or Lithium Complex
·
Calcium
·
Others
Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
Netherlands
·
Asia Pacific
o
China
o
India
o
Japan
o
Singapore
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
o
South Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-marine-grease-market
www.grandviewresearch.com/press-release/global-marine-grease-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
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