About Marine Grease
Greases are made by using an oil such as mineral oil or vegetable oil and mixing it with thickeners such as lithium-based soaps. It may also contain additional lubricating particles such as graphite, molybdenum disulfide or polytetrafluoroethylene. The marine grease is formulated for enhanced ability to resist water that could cause corrosion. It is especially used to lubricate wheel bearing on boat trailers or for anything that is used where it could get wet. It is designed to lubricate under the most severe operating conditions in marine applications. Water resistance, long-lasting, extreme pressure resistance and corrosion protection are the key factors driving the growth of the marine grease market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Marine Grease market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BP plc. (United Kingdom), Chevron Corporation (United States), ExxonMobil (United States), Gulf Oil Marine Ltd. (Hong Kong), Lucas Oil (United States), LUKOIL (Russia), Penrite Oil (Australia), Total Lubmarine (France), Warren Oil Company Inc. (United States) and West Marine (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are CRC Industries (New Zealand), Liqui Moly GmbH (Germany) and OKS Specialty Lubricants Ltd. (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Marine Grease market by Type (Mineral, Synthetic and Bio-Based Oil), Application (Engine, Hydraulic, Gear Oil, HTFs and Others) and Region.
On the basis of geography, the market of Marine Grease has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Marine Grease market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Bio-Based Marine Grease
Market Growth Drivers:
Rise in the World Trade and Development in the Field of New Waterways
Challenges:
Stringent Rules and Regulations about Aquatic Environment
Restraints:
Economic Difficulties in Shipbuilding
Opportunities:
Growing Shipping Industry Worldwide and Growing Naval Defense Budget around the Globe
Market Leaders and their expansionary development strategies
On 11th June 2019, Dubai-based subsidiary of LUKOIL, Lukoil Marine Lubricants, has reached a renewal agreement with the subsidiary of Kuwait Petroleum Corporation (KPC), Kuwait Oil Tanker Company (KOTC).
In July 2022, Chevron Marine Lubricants has launched of its Clarity Synthetic EA Grease 0, described as an anhydrous, calcium-thickened lubricating grease. The product is based on biodegradable synthetic esters to meet parameters of the the 2013 Vessel General Permit rules for environmentally acceptable lubricants, as issued by the U.S. Environmental Protection Agency.
Key Target Audience
Marine Grease Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Research Professionals, Emerging Companies, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.