Lucintel's latest market report analyzed that marine lubricant provides attractive opportunities in bulk carriers, tankers, and container ships. The marine lubricant market is expected to reach $8.1 billion by 2028 with a CAGR of 3.5%. In this market, engine oil is the largest segment by product type, whereas bulk carriers is largest by ship type.
Based on product type, the marine lubricant market is segmented into engine oil, hydraulic fluid, compressor oil, and others. The engine oil segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, because it helps in lubricating the inner components of internal combustion marine engines and also keeps it cool and prevents from corrosion.
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The Marine Lubricant Market is marked by the presence of several big and small players. Some of the prominent players offering marine lubricant include BP Plc, ENI SPA, ENOC (Emirates National Oil Company), ExxonMobil Corporation, GazrpromNeft, Gulf Oil Corporation, Indian Oil Corporation, PetroChina Company, Petronas, and Valvoline.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.
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