Global Marine Grease Market by Thicker Type (Lithium Complex, Calcium), by End-Use (Tankers, Bulk Carrier & Cargo Ships, Passenger Ships) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
In 2016, the global marine grease market was worth USD 238.9 millions. The market's growth is being driven by the increasing demand for shipping services worldwide due to increased international trade. The market will continue to grow due to the development of new waterways, and strong growth in the shipbuilding industry.
U.S. Marine Grease Market by End-Use, 2014-2025 (USD Million).
Because of its superior properties, marine grease is widely used in shipping. It has high-pressure additives that increase load carrying capacity, higher temperature range, thermal stability, corrosion protection and longer lubrication intervals. It improves the ship's overall efficiency.
In 2016, the US market was valued at USD 30.7million. It is expected to grow at 4.2% CAGR between 2017 and 2025. The country's infrastructure for water transport and growing international trade are driving the market. The demand is expected to rise due to robust growth in the end use segment.
Marine grease reduces friction between rotating parts of machines to improve output efficiency and the efficiency of engines, machinery, as well as other components in the ship. It can also gel up with water and function efficiently even after water loss. The shipping industry is one of the most common uses for lithium complex grease.
The market growth is expected to be slowed by the existence of global regulatory standards for a clean environment. Diverse hazardous issues could arise from the accidental release of lubricants into aquatic bodies. This is why strict regulations have been set by regulatory bodies like REACH and VGP. Vessel General Permit (VGP), regulations have been issued by the U.S. EPA for the use of environmentally-friendly lubricants on commercial vessels over 79 feet.
Thicker Type Insights
Many thicker marine greases are used in the shipping industry as a lubricant. These include lithium or lithium complex, lithium, polyurea aluminum, magnesium, organo clay and barium. The unique additive system of lithium complex grease provides maximum lubrication in the most demanding operating conditions. It can be used in many shipping applications, including outboards and trailer wheel bearings, trailer chassis lubrication, wheel bearings, and trailer wheel bearings.
Global calcium thicker segment was valued at USD 37.2 millions in 2016. It is expected to grow at 3.7% between 2017 and 2025. Anhydrous grease, it is resistant to water and has additives that protect against oxidation or rust. It is also used extensively in boat trailers and wheel bearings.
End-use Insights
Marine grease is widely used in many end-use segments, including bulk carrier and cargo ships, passenger vessels, tankers, etc. Because of the increasing amount of heavy cargo and products being transported by ships, marine grease is most commonly used in bulk carriers and cargo ships. Marine grease is needed to keep the ship's efficiency and performance in check due to the increasing transshipment of cargoes via ships.
In 2016, the passenger ship segment was valued at USD 59.9million. It is expected to grow at a 5.2% CAGR between 2017 and 2025. The passenger ship segment is experiencing a boom due to increased passenger capacity, new ports, and diversification. Other end-use segments are special purpose vessels and service vessels, offshore vessels, yachts, and yachts.
Regional Insights
Asia Pacific was the dominant market for marine grease in 2016, and this trend is expected to continue for the next eight years. It was worth USD 88.2 millions in 2016, and is expected to grow at a 5.3% CAGR from 2017 to 2025. This region is experiencing an increase in industrialization, new waterways development and growing coastal economies.
Market for marine grease worldwide, 2016 (USD Million), (%)
Asia Pacific was closely followed by Europe in 2016, and is expected to continue growing at 4.6% during the forecast period. Key factors driving this growth are the flourishing maritime transport industry and the existence of ship transport infrastructure.
Marine Grease Market Share Information
British Petroleum, CHEVRON Lubricants, Exxon Mobil Company, Gulf Oil Marine Ltd, Lucas Oil Products Inc, LUK OilMarine, Old World Industries, Penrite Oil Co., Ltd, Royal Dutch Shell Company, Total Lubmarine, Warren Oil are the major players in this global market. These companies focus on making non-hazardous, environmentally-friendly marine grease products.
Marine Grease Market Report Scope
Report Attribute |
More Details |
Market size in 2019 |
USD 267.6 Million |
Forecast Revenues in 2025 |
USD 348.4 Million |
Growth Rate |
CAGR of 4.4% between 2017 and 2025 |
Estimation base year |
2016 |
Historical data |
2014 - 2015. |
Forecast period |
2017-2025 |
Quantitative units |
Revenue in USD Millions and CAGR between 2017-2025 |
Report coverage |
Forecast revenue, company ranking and competitive landscape, growth factors and trends |
Segments covered |
Region, type, and end-use are thinner |
Regional scope |
North America; Europe, Asia Pacific; Central & South America. Middle East & Africa |
Country coverage |
U.S., Canada, Mexico, Germany, UK, Netherlands, China, India, Japan, Singapore, Brazil, Saudi Arabia, South Africa |
Key companies profiled |
British Petroleum, CHEVRON Lubricants, Exxon Mobil Company, Gulf Oil Marine Ltd, Lucas Oil Products Inc, LUK OilMarine, Old World Industries, Penrite Oil Co., Ltd, Royal Dutch Shell Company, Total Lubmarine, Warren Oil |
The scope of customization |
With purchase, you get free report customization (equivalent to up to 8 analysts working day) You can add or modify country, region and segment scope. |
Prices and purchase options |
You can get customized purchase options that meet your research needs. Explore your purchase options |
The report covers segments
This report forecasts volume and revenue growth at the national, regional, and global levels. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global marine grease market based on thickness, end-use and location.
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Thicker Type Outlook (Revenue USD Million, 2014-2025)
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Complex Lithium
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Calcium
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Other
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End-use Outlook (Revenue USD Million, 2014-2025)
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Bulk Carrier & Cargo Ships
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Passenger Ships
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Tankers
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Other
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Regional Outlook (Volume of Kilo Tons; Revenue USD Million, 2014-2025)
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North America
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The U.S.
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Canada
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Mexico
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Europe
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Germany
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UK
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Netherlands
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Asia Pacific
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China
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India
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Japan
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Singapore
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Central & South America
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Brazil
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Middle East & Africa
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Saudi Arabia
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South Africa
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These are the most frequently asked questions about this report
What is the size of the marine grease market?b. The market for marine grease worldwide was valued at USD 266.7 million in 2019, and is forecast to grow to USD 278.7 millions in 2020.
How is the growth of the marine grease market?b. The global marine grease market will grow at a compound annual rate of 4.4% between 2017 and 2025, reaching USD 348.4 millions by 2025.
Which market segment had the largest share of marine grease?b. With a 38.0% share in 2019, Asia Pacific was the dominant market for marine grease. This can be attributed to the increasing industrialization of the region and development of new waterways as well as growing coastal economies.
What are the major players in the marine grease market?b. British Petroleum, CHEVRON Lubricants, Exxon Mobil Company, Gulf Oil Marine Ltd, Lucas Oil Products Inc, LUK OilMarine, Old World Industries, Penrite Oil Co., Ltd, Royal Dutch Shell Company, Total Lubmarine, Warren Oil are some of the key players in the marine grease industry.
What are the main factors that drive the marine grease marketb. b.
Up Market Research published a new report titled “Marine Grease Market research report which is segmented by Thicker Type (Lithium Complex, Calcium), by End-Use (Tankers, Bulk Carrier & Cargo Ships, Passenger Ships), By Players/Companies Lucas Oil Products Inc, Ltd, Exxon Mobil Company, CHEVRON Lubricants, Penrite Oil Co, Royal Dutch Shell Company, LUK OilMarine, Gulf Oil Marine Ltd, Old World Industries, Warren Oil The companies are focusing on manufacturing non-hazardous and environment-friendly marine grease products, British Petroleum, Total Lubmarine”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Marine Grease Market Research Report |
By Thicker Type | Lithium Complex, Calcium |
By End-Use | Tankers, Bulk Carrier & Cargo Ships, Passenger Ships |
By Companies | Lucas Oil Products Inc, Ltd, Exxon Mobil Company, CHEVRON Lubricants, Penrite Oil Co, Royal Dutch Shell Company, LUK OilMarine, Gulf Oil Marine Ltd, Old World Industries, Warren Oil The companies are focusing on manufacturing non-hazardous and environment-friendly marine grease products, British Petroleum, Total Lubmarine |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 213 |
Number of Tables & Figures | 150 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Marine Grease Market Report Segments:
The market is segmented by Thicker Type (Lithium Complex, Calcium), by End-Use (Tankers, Bulk Carrier & Cargo Ships, Passenger Ships).
Marine Grease Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Marine Grease Market
Overview of the regional outlook of the Marine Grease Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Marine Grease Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Marine Grease Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Lithium Complex
2. Calcium
7. By End-Use:1. Tankers
2. Bulk Carrier & Cargo Ships
3. Passenger Ships
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Grease Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Marine Grease Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Grease Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Grease Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Grease Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Grease Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Grease Market Size & Forecast, 2018-2028
4.5.1 Marine Grease Market Size and Y-o-Y Growth
4.5.2 Marine Grease Market Absolute $ Opportunity
Chapter 5 Global Marine Grease Market Analysis and Forecast by Thicker Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Thicker Type
5.1.2 Basis Point Share (BPS) Analysis by Thicker Type
5.1.3 Absolute $ Opportunity Assessment by Thicker Type
5.2 Marine Grease Market Size Forecast by Thicker Type
5.2.1 Lithium Complex
5.2.2 Calcium
5.3 Market Attractiveness Analysis by Thicker Type
Chapter 6 Global Marine Grease Market Analysis and Forecast by End-Use
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by End-Use
6.1.2 Basis Point Share (BPS) Analysis by End-Use
6.1.3 Absolute $ Opportunity Assessment by End-Use
6.2 Marine Grease Market Size Forecast by End-Use
6.2.1 Tankers
6.2.2 Bulk Carrier & Cargo Ships
6.2.3 Passenger Ships
6.3 Market Attractiveness Analysis by End-Use
Chapter 7 Global Marine Grease Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Grease Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine Grease Analysis and Forecast
9.1 Introduction
9.2 North America Marine Grease Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine Grease Market Size Forecast by Thicker Type
9.6.1 Lithium Complex
9.6.2 Calcium
9.7 Basis Point Share (BPS) Analysis by Thicker Type
9.8 Absolute $ Opportunity Assessment by Thicker Type
9.9 Market Attractiveness Analysis by Thicker Type
9.10 North America Marine Grease Market Size Forecast by End-Use
9.10.1 Tankers
9.10.2 Bulk Carrier & Cargo Ships
9.10.3 Passenger Ships
9.11 Basis Point Share (BPS) Analysis by End-Use
9.12 Absolute $ Opportunity Assessment by End-Use
9.13 Market Attractiveness Analysis by End-Use
Chapter 10 Europe Marine Grease Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Grease Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine Grease Market Size Forecast by Thicker Type
10.6.1 Lithium Complex
10.6.2 Calcium
10.7 Basis Point Share (BPS) Analysis by Thicker Type
10.8 Absolute $ Opportunity Assessment by Thicker Type
10.9 Market Attractiveness Analysis by Thicker Type
10.10 Europe Marine Grease Market Size Forecast by End-Use
10.10.1 Tankers
10.10.2 Bulk Carrier & Cargo Ships
10.10.3 Passenger Ships
10.11 Basis Point Share (BPS) Analysis by End-Use
10.12 Absolute $ Opportunity Assessment by End-Use
10.13 Market Attractiveness Analysis by End-Use
Chapter 11 Asia Pacific Marine Grease Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Grease Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine Grease Market Size Forecast by Thicker Type
11.6.1 Lithium Complex
11.6.2 Calcium
11.7 Basis Point Share (BPS) Analysis by Thicker Type
11.8 Absolute $ Opportunity Assessment by Thicker Type
11.9 Market Attractiveness Analysis by Thicker Type
11.10 Asia Pacific Marine Grease Market Size Forecast by End-Use
11.10.1 Tankers
11.10.2 Bulk Carrier & Cargo Ships
11.10.3 Passenger Ships
11.11 Basis Point Share (BPS) Analysis by End-Use
11.12 Absolute $ Opportunity Assessment by End-Use
11.13 Market Attractiveness Analysis by End-Use
Chapter 12 Latin America Marine Grease Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Grease Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine Grease Market Size Forecast by Thicker Type
12.6.1 Lithium Complex
12.6.2 Calcium
12.7 Basis Point Share (BPS) Analysis by Thicker Type
12.8 Absolute $ Opportunity Assessment by Thicker Type
12.9 Market Attractiveness Analysis by Thicker Type
12.10 Latin America Marine Grease Market Size Forecast by End-Use
12.10.1 Tankers
12.10.2 Bulk Carrier & Cargo Ships
12.10.3 Passenger Ships
12.11 Basis Point Share (BPS) Analysis by End-Use
12.12 Absolute $ Opportunity Assessment by End-Use
12.13 Market Attractiveness Analysis by End-Use
Chapter 13 Middle East & Africa (MEA) Marine Grease Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Grease Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine Grease Market Size Forecast by Thicker Type
13.6.1 Lithium Complex
13.6.2 Calcium
13.7 Basis Point Share (BPS) Analysis by Thicker Type
13.8 Absolute $ Opportunity Assessment by Thicker Type
13.9 Market Attractiveness Analysis by Thicker Type
13.10 Middle East & Africa (MEA) Marine Grease Market Size Forecast by End-Use
13.10.1 Tankers
13.10.2 Bulk Carrier & Cargo Ships
13.10.3 Passenger Ships
13.11 Basis Point Share (BPS) Analysis by End-Use
13.12 Absolute $ Opportunity Assessment by End-Use
13.13 Market Attractiveness Analysis by End-Use
Chapter 14 Competition Landscape
14.1 Marine Grease Market: Competitive Dashboard
14.2 Global Marine Grease Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lucas Oil Products Inc
14.3.2 Ltd
14.3.3 Exxon Mobil Company
14.3.4 CHEVRON Lubricants
14.3.5 Penrite Oil Co
14.3.6 Royal Dutch Shell Company
14.3.7 LUK OilMarine
14.3.8 Gulf Oil Marine Ltd
14.3.9 Old World Industries
14.3.10 Warren Oil The companies are focusing on manufacturing non-hazardous and environment-friendly marine grease products
14.3.11 British Petroleum
14.3.12 Total Lubmarine