The market for synthetic and biodegradable marine lubricants is anticipated to expand significantly between 2023 and 2030. The shipbuilding industry's increasing use of synthetic and biodegradable marine lubricants, the launch of new products, increased research and development efforts, the development of emission-reduction technologies, and rising investment in FPSO vessels are the main factors fueling the market's expansion.
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Data Bridge Market Research analyses that the Synthetic and Biodegradable Marine Lubricants Market is expected to reach USD 5,472,231.46 thousand by 2030, growing with a substantial CAGR of 6.4% in the forecast period of 2023 to 2030. Advancements in lubricant technology have made synthetic and biodegradable options more viable and efficient. These lubricants now offer improved performance characteristics, such as enhanced lubricity, thermal stability, and wear protection. Technological innovations have led to the development of lubricants that can withstand harsh marine conditions while still being environmentally friendly
Key Findings of the Study
Rising demand for high-performance lubricants is expected to drive the market's growth rate
The rising demand for high-performance lubricants in the marine industry is driving the growth of synthetic marine lubricants. These lubricants exhibit superior properties such as excellent resistance to oxidation, enhanced lubricity, and superior wear protection. These qualities make them highly desirable for demanding marine applications that involve high pressures and temperatures. As a result, the demand for synthetic marine lubricants has been increasing as they provide optimal performance and reliability in challenging marine environments.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Engine Oil, Hydraulic Fluid, System Oils, Cylinder Oils, Gear Oil, Grease, Stern Tube Oil, Turbine Oils, Transmission Oils, Heat Transfer Fluids, Refrigeration Compressors And Others), End-User (Ships, Boats, Offshore Civil Structures, Deep Sea Ships, Coastal Yachts, Containers, Oil Tankers, Bulk Carriers, Cargo Ships and Cruise Liners), Distribution Channel (Direct and Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South
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Market Players Covered
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RSC Bio Solutions (U.S.), PANOLIN AG (Switzerland), LanoPro (Sweden), Klüber Lubrication (Germany), Ferryl (Sweden), Chevron Corporation (U.S.), LUKOIL Marine Lubricants DMCC (U.A.E), Exxon Mobil Corporation (U.S.), TotalEnergies.com (France), FUCHS (Mannheim, Germany), Gulf Oil Marine Ltd. (Singapore), CASTROL LIMITED (U.K.), Shell plc (U.K.), Croda International Plc (U.K.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The synthetic and biodegradable marine lubricants market is segmented on the basis of product, end-user, and distribution channel.
- On the basis of product, the global synthetic and biodegradable marine lubricants market is segmented into greases, gear oils, stern tube oil, cylinder oils, system oils, hydraulic oils, turbine oils, transmission oils, heat transfer fluids, engine oils, refrigeration compressors, and others. The engine oils segment is expected to dominate the global synthetic and biodegradable marine lubricants market with a CAGR of 7.5% in the forecast period of 2023 to 2030 due to it ensures engines are lubricated properly so that they run smoothly, additives in engine oils help to slow down the process of corrosion and have a longer lifespan.
In 2023, the engine oils segment is expected to dominate the product segment of the global synthetic and biodegradable marine lubricants market
In 2023, the engine oils segment is expected to dominate the global synthetic and biodegradable marine lubricants market owing to the engines that are lubricated appropriately so that they run efficiently, additives in engine oils help to slow down the process of deterioration and have an extensive lifespan with a CAGR of 7.5% in the forecast period of 2023 to 2030
- On the basis of end-user, the global synthetic and biodegradable marine lubricants market is segmented into ships, boats, offshore civil structures, deep sea ships, coastal yachts, containers, oil tankers, bulk carriers, cargo ships, and cruise liners. The ships segment is expected to dominate the global synthetic and biodegradable marine lubricants market with a 25.23% market share in the forecast period of 2023 to 2030 due to ocean freight shipping costs are generally four to six times less expensive than air shipping, and vessels are the ideal way to move high volumes of cargo as they are designed to carry large amounts of goods.
- On the basis of distribution channel, the global synthetic and biodegradable marine lubricants market is segmented into direct selling and indirect selling. In 2023, the direct selling segment is expected to dominate the global synthetic and biodegradable marine lubricants market with a CAGR of 6.7% in the forecast period of 2023 to 2030 due to the convenience and service.
In 2023, the direct selling segment is expected to dominate the distribution channel of the global synthetic and biodegradable marine lubricants market
In 2023, the direct selling segment is expected to dominate the distribution channel of the global synthetic and biodegradable marine lubricants market owing to the convenience and service it provides to consumers. It also offers businesses with innovative and distinctive products with a CAGR of 6.7% in the forecast period of 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the major synthetic and biodegradable marine lubricants market players in synthetic and biodegradable marine lubricants market are RSC Bio Solutions (U.S.), PANOLIN AG (Switzerland), LanoPro (Sweden), Klüber Lubrication (Germany), Ferryl (Sweden), Chevron Corporation (U.S.), LUKOIL Marine Lubricants DMCC (U.A.E), Exxon Mobil Corporation (U.S.), TotalEnergies.com (France), FUCHS (Mannheim, Germany)
Market Development
- In 2022, Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced the start of production of the FPSO Guanabara in the Mero field, offshore Santos Basin in Brazil.
- In 2022, ExxonMobil created Mobilgard 540 AC, a premium 40BN marine cylinder oil approved by MAN ES for use in their Mark 9 and above 2-stroke marine engine designs.
- In 2020, Klüber Lubrication developed the new, ultimately biodegradable high-performance lubricant Klüberbio BM 32-142, especially for the eco-friendly lubrication of rolling and plain bearings subject to extreme maritime conditions. It has helped the company to improve its products and also attract consumers who are looking for environmentally considerable lubricants.
- In 2018, Total Lubmarine announced the introduction of a new grease product BIO OG PLUS – an innovative addition to an already comprehensive Environmentally Acceptable Lubricant (EAL) range.
- In 2020, Total Lubmarine expanded the worldwide reach of its technical support services with the inauguration of a new Diagomar Plus Laboratory in Chicago, U.S. The new Chicago Lab offers standard assessments for engine oil, non-engine oil, drain oil, thermal oil, stern tube oil and EAL (environmentally acceptable lubricant)
Regional Analysis
Geographically, the countries covered in the synthetic and biodegradable marine lubricants market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South
As per Data Bridge Market Research analysis:
Asia-pacific is expected to dominate the region in the synthetic and biodegradable marine lubricants market during the forecast period 2023 - 2030
The Asia-Pacific region is anticipated to lead the global synthetic and biodegradable marine lubricants market, driven by emerging emission-reduction technologies in the region. China, in particular, is expected to dominate in Asia-Pacific due to its significant application across the shipbuilding industry. The region's increasing focus on environmental sustainability and stringent emission regulations are promoting the adoption of synthetic and biodegradable marine lubricants, positioning Asia-Pacific as a key market for these products.
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