Research Industry Expert

  The marine lubricants market is projected to reach USD 6.7 billion by 2026, at a CAGR of 1.5% from USD 6.2 billion in 2021. Marine lubricants reduce friction between various operating mechanical parts in a ship or vessel. The lubrication process helps in dissipating excess heat and combating wear and tear. These marine lubricants enhance the output efficiency of machinery and increase the working life of the mechanical parts in a vessel or ship. The composition of marine lubricants comprises base stocks and additives. The base stocks are classified into five groups, of which Group I to Group III fall under mineral oil, and Group IV and Group V fall under synthetic oil. Marine lubricants are formulated with additives such as alkaline detergents, pour-point depressants, antioxidants, corrosion inhibitors, anti-wear, and extreme pressure. The additives used in the formulation serve various functions such as increased lubricity, resistance to corrosion, and reduction in excess heat....

Marine Lubricants Market  was valued at USD 5.85 billion in 2017 and is projected to reach USD 6.66 billion by 2023, at a CAGR of 2.17% during the forecast period. Increasing demand for bio-based marine lubricants The regulatory bodies, such as MARPOL, EPA, and SOLAS, have imposed rules to limit the emission of nitrogen oxide and sulfur oxide from ships to protect the environment from greenhouse gases. These regulatory bodies have limited the use of mineral and synthetic oils that release toxic wastes and gases. Instead of using mineral oil lubricants in ships, the shipping companies are using biodegradable lubricants that do not affect the environment with the emission of hazardous gases. This has led to the rise in demand for environment-friendly and bio-based marine lubricants, as they are non-toxic, partially biodegradable, and non-bioaccumulative. They are formulated with renewable and biodegradable base stocks and are an ideal choice for use in emission control ar...