Home > Chemicals & Materials > Lubricant and Greases > Marine Lubricants Market
Marine Lubricants Market Size
- Report ID: GMI412
- Published Date: Apr 2023
- Report Format: PDF
Marine Lubricants Market Size
Marine Lubricants Market size reached a valuation of USD 3 billion in 2023. Driven by the expansion of the shipbuilding and fleet industry in Asia Pacific, the market is expected to grow at 4.8% CAGR between 2024 and 2032.
The shipbuilding industry has been registering a rise due to its wide range of applications, such as transportation, naval, and recreational industries. Asia Pacific region witnessed substantial growth in its shipbuilding industry, which accounted for over 95% of the worldwide market by deadweight with a value of 171.8 million dwt in 2020. The region is expected to continue being the heart of the global shipbuilding sector, especially with China and Japan being among the top three ship-owning nations, in terms of commercial value and dead weight tonnage, as of January 2022, according to UNCTAD.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Marine Lubricants Market Size in 2023: | USD 3 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 4.54 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 368 |
| Tables, Charts & Figures: | 598 |
| Segments covered: | Product, Application, Marine Channel, Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Marine Lubricants Market Scope
