Global Marine Lubricants Market is expected to rise to an estimated value of USD 7.67 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026.
Marine lubricants are extensively used in the shipping industry to safeguard and increase the performance of engines and equipment. These are the fuels that are mainly designed to lead to highest performance in operations. They have several unusual inherent features that increase the life of the engine and protect its parts at high temperatures, thereby enhancing the performance and efficiency of machinery, protecting it from mechanical wear and tear and reducing cold corrosion.
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Global marine lubricants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of marine lubricants market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the marine lubricants are BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell, Total, LUKOIL, AEGEAN MARINE PETROLEUM NETWORK INC, Idemitsu Kosan Co.,Ltd., Indian Oil Corporation Ltd, China Petrochemical Corporation, AvinOil S.A., FUCHS, Gulf Oil International, H&R GROUP, JXTG Nippon Oil & Energy Corporation, PETRONAS Lubricants International, Unimarine, World Fuel Services Corporation, Gazpromneft - Lubricants, Ltd and Valvoline LLC among others.
Segmentation: Marine Lubricants Market
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