In April 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

Marine lubricants are frequently utilized in the shipping industry to protect and increase engine and equipment performance. They are specifically developed to provide optimal performance in tasks such as extending engine life and protecting components at high temperatures, boosting machine efficiency and dependability, enhancing mechanical wear protection, and preventing cold corrosion. 

Access Full Report @ https://www.databridgemarketresearch.com/reports/global-synthetic-and-biodegradable-marine-lubricants-market

The Global Synthetic and Biodegradable Marine Lubricants Market is expected to reach USD 5,472,231.46 thousand by 2030 from USD 3,370,000.00 thousand in 2022, growing with a substantial CAGR of 6.4% in the forecast period of 2023 to 2030. Bio-based lubricants are becoming increasingly popular and more important, which is expected to provide an opportunity for the global synthetic and biodegradable marine lubricants market growth. However, environmental regulations that are strict and administrations that are constantly reforming may act as a challenge to the global synthetic and biodegradable marine lubricants market growth.            

Rising application across the shipbuilding industry across the world will drive the market's growth rate

Lubricant lowers friction and wears by creating a layer between moving contact surfaces. A lubricant's primary roles are to minimize friction, prevent wear, protect the equipment from corrosion, manage temperature by dispersing heat, control pollution to a filter, and transmit power while providing a fluid seal. The application specifies which oil, also known as base oil, should be used. Synthetic oils can be advantageous under harsh situations. EALs can be employed when the environment is a concern. These marine lubricants are intended for use in a wide range of applications, including high-, medium, and slow-speed marine engines, as well as lubricants for other applications such as air compressors, refrigeration compressors, hydraulic, gear, greases, and environmentally sensitive items among others.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Thousand, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

Market Players Covered

RSC Bio Solutions (U.S.), PANOLIN AG (Switzerland), LanoPro (Norway), Klüber Lubrication (Munich), Chevron Corporation (U.S.), LUKOIL Marine Lubricants DMCC (UAE), Exxon Mobil Corporation (U.S.), TotalEnergies (France), FUCHS (Germany), Gulf Oil Marine Ltd. (Hong Kong), CASTROL LIMITED (U.K.), Shell plc (U.K.) and Croda International Plc. (U.K.) among others             

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework

Segment Analysis:

The global synthetic and biodegradable marine lubricants market is segmented into three notable segments based on 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. In 2023, the engine oils segment is expected to dominate the global synthetic and biodegradable marine lubricants market with a 22.98% market share because 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.
  • 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. In 2023, the ships segment is expected to dominate the global synthetic and biodegradable marine lubricants market with a 25.23% market share because estimates show that 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.

The ships segment will dominate the end-user segment of the synthetic and biodegradable marine lubricants market

The ships segment will emerge as the dominating segment under end-user. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, the growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.

  • 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 61.05% market share because of the convenience and service it provides to consumers. It also offers businesses with innovative and distinctive products.

The direct selling segment will dominate the distribution channel segment of the synthetic and biodegradable marine lubricants market

The direct selling segment will emerge as the dominating segment distribution channel segment. This is because of the growing demand from the end user industries especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: RSC Bio Solutions (U.S.), PANOLIN AG (Switzerland), LanoPro (Norway), Klüber Lubrication (Munich), Chevron Corporation (U.S.), LUKOIL Marine Lubricants DMCC (UAE), Exxon Mobil Corporation (U.S.), TotalEnergies (France), FUCHS (Germany), Gulf Oil Marine Ltd. (Hong Kong), CASTROL LIMITED (U.K.), Shell plc (U.K.) and Croda International Plc. (U.K.).

Market Development

  • In April 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. To satisfy the demands of these modern engines, the premium lubricant has been developed to give increased cleanliness
  • In June 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)
  • In September 2019, ExxonMobil introduced Mobilgard 540, a new 40BN cylinder oil designed exclusively for use with 0.50% sulfur fuels that conform to the International Maritime Organization's (IMO) 2020 emission rules and fulfill the criteria of OEMs, MAN ES, and WinGD

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in synthetic and biodegradable marine lubricants market during the forecast period 2023 to 2030

Asia-Pacific is expected to dominate the global synthetic and biodegradable marine lubricants market due to the emerging emission-reduction technologies in the region. China is expected to dominate in the Asia-Pacific region due to the rising application across the shipbuilding industry in the region.

North America is estimated to be the fastest-growing region in synthetic and biodegradable marine lubricants market the forecast period 2023 to 2030

North America will score the highest growth rate during the forecast period. U.S. dominates in the region due to the rising application across the shipbuilding industry in the region.    

COVID-19 Impact

There are chances for sustainable solutions in the post-COVID-19 future, from green construction to sustainable lubrication. A bio lubricant is a non-toxic substance that is renewable by nature, quickly biodegrades (by at least 60% in 28 days), and contains at least 25% carbon from bio-sourced sources. Alternatives to traditional lubricating oils that harm the environment by releasing toxic vapors include bio-based lubricant alternatives.

For more detailed information about the synthetic and biodegradable marine lubricants market, visit: https://www.databridgemarketresearch.com/reports/global-synthetic-and-biodegradable-marine-lubricants-market