11th October 2019 – The global Marine
Grease Market size is expected to value at USD 348.4 million by 2025.
The market is subject to witness a substantial growth due to the growing demand
for shipping services across the globe, and rising international trade.
Additionally, rise in number of new waterways and rapid growth in the ship
building industry are some of the critical factors responsible for the growth
of marine grease industry in upcoming years. Globally, the marine grease market
is predicted to grow at CAGR of 4.4% in forecast period, providing numerous
opportunities for market players to invest in research and development in the
marine grease industry.
Increasing application of marine grease
in the shipping industry is attributed to its advanced properties. Some of
these advanced properties include high pressure additives, high load carrying
capacity, broad temperature range, high mechanical strength, resistance to
temperature changes, resistance to erosion, long lubrication intervals, high
melting point, and water resistance. Such properties enhances overall
performance of the system. Growing demand for transportation system and rising
import & export among various economies across the globe are expected to
fuel market growth over the forecast period.
Get
a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/marine-grease-market/request-sample
Furthermore, rapid industrialization,
and increasing demand from various end-user market segment is further
propelling market growth, in the recent years. Growing popularity of marine
grease among various end-user market segment is credited to factors such as
enhanced output efficiency of the engine, machinery, and several components
installed in the ship. Marine grease decreases the friction in-between various
rotational machine elements thus increasing overall output of the system.
Marine grease easily gels up with water,
which is critical in case of water leakage. Growing demand of the lithium
complex grease in the shipping industry is anticipated to boost market growth
in near future. However, stringent rules and regulation in regards to the
uncontaminated aquatic environment around the globe is predicted to limit
market growth to certain extent in upcoming years. Different kinds of marine
grease that are extensively adopted as a lubricant in shipping industry include
lithium complex grease, calcium complex grease, polyuria grease, aluminum
grease, oregano clay grease, and sodium grease. Lithium complex grease offers a
rare additive solution that provided maximum lubrication during the most
critical operations.
Application of the marine grease include
various shipping operations like outboards, trailer wheel bearings, trailer
chassis lubrication, and wheel bearings. The calcium thicker type is considered
as one of the fastest growing segment in the marine grease market with
substantial revenue generation in the last couple of years. Growing popularity
of the calcium thicker type market segment is credited to the high water
resistance and protection against oxidation and rust. Some of the common
application of calcium thicker grease include boat trailer, wheel bearings, and
trailer chassis lubrication.
Marine Grease is largely utilized in
order to achieve superior lubrication in various shipping operations and
protection oxidation and rust in marine applications. Marine grease is
increasingly used in leisure craft and industrial marine fleets. Some of the
important application of the marine grease involves gears, stern drives, prop
shaft splines, steering tubes and cables. Marine grease is also used in
throttle lines and linkages, dog seals and trunion steering mounts.
The marine grease industry is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa.
European region has shown major growth in recent years owing to the rise in the
adoption of latest technologies and existence of well-established industrial
infrastructure. Asia-Pacific region is predicted to hold major market share in
the marine grease market with massive growth in forecast period. Countries such
as India, China and Japan are leading the Asia-Pacific market with rapid
industrialization, development of new waterways, rise in the coastal economies
and significant investment by leading industry players considering potential
opportunities in the region.
The key players in the marine grease
industry are British Petroleum plc, Chevron Lubricants, Inc., Exxon Mobil Co.,
Gulf Oil Marine Limited, Lucas Oil Products Incorporations, Lukoil Marine
Lubricants Ltd., Old World Industries, LLC, Penrite Oil Corporations, Royal
Dutch Shell Company plc, Total Lubmarine Ltd., and Warren Oil Company, LLC.
Get
in touch
At Million Insights, we work with the
aim to reach the highest levels of customer satisfaction. Our representatives
strive to understand diverse client requirements and cater to the same with the
most innovative and functional solutions.
For
More Information, Visit @ https://www.millioninsights.com
No comments:
Post a Comment