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Marine Grease Industry Survey, Trends, Outlook, Overview and 2025 Forecast

Increasing demand from the various end-use segments is a key factor driving the growth. The robust growth from shipping industry in Asia Pacific is expected to boost the market further over the forecast period.

The Global Marine Grease Market is expected to reach USD 348.4 million by 2025, according to a new report by Grand View Research, Inc.


Marine grease is a semi-solid substance, used in various vessels such as bulk carrier ships, cargo ships, tankers, passenger vessels as it provides enhanced lubrication under salty water conditions. In addition, it has numerous applications in high temperature and pressure conditions. The market is mainly driven by the demand for the bulk carriers and cargo vessels, as they are exposed to the complex operating environment during transportation of industrial and consumer goods.

In terms of revenue, lithium complex thickener accounted as the largest segment in 2016 and is anticipated to continue its trends with a growth rate of 4.7% over the forecast period. Increasing need for environmentally compatible and multi-purpose grease are the factors anticipated to propel the growth.

To Know More About Marine Grease Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/marine-grease-market

The demand is expected to surge owing to the development of new ports in the Asia Pacific region. Different grades as classified by the National Lubricating Grease Institute (NLGI) are used in various end-use areas as they provide the required properties such as resistance to water wash out, and corrosion prevention. Various types of NLGI graded greases are available to cater the requirement of the different types of vessels.

Top Players of Marine Grease Market:

Key players including ExxonMobil Corporation, Chevron Lubricants, Shell Plc, Total Lubmarine, Lukoil Marine, Gulf Oil Marine, Penrite Oil are expected to hold significant share in the global market.

Market Segmentation of Marine Grease Market:

The Global Marine Grease Market segmented on the basis of End-Use, Thickener Type and Region.

By End-Use:

    Bulk Carrier & Cargo Ships
    Passenger Ships
    Tankers

By Thickener Type:

    Lithium or Lithium Complex
    Calcium

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East & Africa

Inquire about Marine Grease Market with Our Experts @ https://www.grandviewresearch.com/inquiry/573

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