The global marine grease market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026.
Marine grease is a semi-solid lubricant with jelly-like consistency used for protecting marine vessels from corrosion, wear and tear and water washout by maintaining an oil film to prevent metal-to-metal contact between the cylinder liner and piston rings. It facilitates siding and rolling motion and is manufactured by blending mineral oils with asphaltic oils and soap or bio-based materials. Some commonly used marine greases include engine, hydraulic, compressors, slideways, gear, heat transfer and turbine oils. They are hydrophobic in nature and exhibit various advantageous properties, such as high viscosity index, thermal resistance and minimal rusting and oxidation. They also act as sealants to prevent water from entering the vessels. As a result, they are widely used in bulker, tanker, container and passenger ships, along with service, special purpose and offshore vessels.
Significant growth in the shipping industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, increasing international trade activities and the development of new waterways are providing a thrust to the market growth. Marine greases are widely used for maintaining the efficiency of the vessels. They offer a wider temperature range, high mechanical and thermal stability, corrosion protection and longer lubrication intervals. In line with this, the increasing requirement for high engine performance and protection is also resulting in the widespread adoption of marine cylinder oils. Additionally, various product innovations, such as the development of bio-based and environment-friendly marine lubricants, are acting as other growth-inducing factors. These novel variants are manufactured using renewable and non-bio accumulative materials with low sulfur levels. Other factors, including rising expenditure capacities of the consumers, along with the implementation of favorable government policies promoting marine trade activities, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global marine grease market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, thicker type and end use.
Breakup by Thicker Type:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BP p.l.c., Chevron Corporation, ENEOS Corporation, Gulf Oil Marine Ltd, Idemitsu Kosan Co. Ltd., Lucas Oil Products Inc, Lukoil Marine Lubricants DMCC, Penrite Oil, Royal Dutch Shell plc, TotalEnergies SE and Warren Oil Company LLC.
|Base Year of the Analysis||2020|
|Segment Coverage||Thicker Type, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||BP p.l.c., Chevron Corporation, ENEOS Corporation, Gulf Oil Marine Ltd, Idemitsu Kosan Co. Ltd., Lucas Oil Products Inc, Lukoil Marine Lubricants DMCC, Penrite Oil, Royal Dutch Shell plc, TotalEnergies SE and Warren Oil Company LLC.|
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