The world class Middle East and Africa Synthetic and Biodegradable Marine Lubricants market report brings into light key market dynamics of the sector. It gives an in-depth knowledge on what the recent developments are, product launches are, while also keeping the track for recent acquisitions, mergers, joint ventures and competitive research in the global market industry. This report is intended to help the readers develop a practical and intelligent approach to market dynamics and exploit opportunities. The market report is a professional yet exhaustive study on the current as well as future state for the market. Middle East and Africa Synthetic and Biodegradable Marine Lubricants business report analyzes the status and future forecast involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast in the major regions of the world.
The significant Middle East and Africa Synthetic and Biodegradable Marine Lubricants report makes some important proposals for a new project of Middle East and Africa Synthetic and Biodegradable Marine Lubricants industry before evaluating its feasibility. While formulating this market report, client business competence is understood adeptly to identify tangible growth opportunities. The base year for calculation in the report is considered as 2021 while the historic year is 2020 which will tell how the Middle East and Africa Synthetic and Biodegradable Marine Lubricants market is going to act upon in the forecast years by giving information about the several market insights. Identifying significant trends, drivers, influencing factors in global and local regions is one of the key goals of this market document.
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Middle East and Africa synthetic and biodegradable marine lubricants market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.7% in the forecast period of 2023 to 2030 and is expected to reach USD 212,618.12 thousand by 2030. The major factor driving the growth of the synthetic and biodegradable marine lubricants market is rising application across the shipbuilding industry, new product launches and increasing R&D activities, emerging emission-reduction technologies and growth in spending on FPSO vessels.
Market Definition
Marine lubricants are a special class of lubricants that are manufactured to meet the rugged performance required in marine vessels for optimized operations. Various machinery components in marine systems require lubricants for better functioning, protection and prolonged life cycles. Considering this, the adoption of marine lubricants plays a significant role in the shipping industry. As per the International Maritime Organization (IMO) stats, around 90% of the world's trade is carried through maritime transport. This is supported by ship manufacturers and government bodies that helps to increase marine trade by developing new terminals and creating bigger straits along with the expansion of new ones. The use of marine lubricants has increased with these strategic developments, as larger ships require the use of more lubricants in every mechanical part. These lubricants are directly responsible for increasing the life of mechanical components in ships. Thus, growing demand for marine lubricants is expected to propel the growth of the synthetic and biodegradable marine lubricants market.
Opportunities
· Demand for synthetic oil and growth in offshore applications
Synthetic lubricants, particularly those used in industrial lubrication applications, are readily accessible and have several applications on board ships. Synthetic lubricants were historically developed in response to special-purpose requests. Conventional mineral-oil-based lubricants, for instance, could not fulfil severe low-temperature (Arctic) or high-temperature activities and fire-resistant criteria. A complex blend of hydrocarbons and synthetic base oils is the outcome of a highly managed chemical reaction process that yields a "pure" chemical of pre-selected composition. This chemical process yields an infinite number of products.
Recent Development
· In April 2022, ExxonMobil created Mobilgard 540 AC, a premium 40BN marine cylinder oil approved by MAN ES for use in their Mark 9 and above 2-stroke marine engine designs. The premium lubricant has been developed to give increased cleanliness to satisfy the demands of these modern engines
· In June 2020, Total Lubmarine expanded the worldwide reach of its technical support services with the inauguration of a new Diagomar Plus Laboratory in Chicago, U.S. The new Chicago Lab offers standard assessments for engine oil, non-engine oil, drain oil, thermal oil, stern tube oil and EAL (environmentally acceptable lubricant)
Middle East and Africa Synthetic and Biodegradable Marine Lubricants Market Scope
The Middle East and Africa synthetic and biodegradable marine lubricants market is categorized based on products, end-user and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product
· Engine Oil
· Hydraulic Fluid
· System Oils
· Cylinder Oils
· Gear Oil
· Grease
· Stern Tube Oil
· Turbine Oils
· Transmission Oils
· Heat Transfer Fluids
· Refrigeration Compressors
· Others
Based on products, the Middle East and Africa synthetic and biodegradable marine lubricants market is classified into engine oil, hydraulic fluid, system oils, cylinder oils, gear oil, grease, stern tube oil, turbine oils, transmission oils, heat transfer fluids, refrigeration compressors and others.
End-User
· Ships
· Boats
· Offshore civil structures
· Deep sea ships
· Coastal yachts
· Containers
· Oil tankers
· Bulk carriers
· Cargo ships
· Cruise liners
Based on end-user, the Middle East and Africa synthetic and biodegradable marine lubricants market is classified into ships, boats, offshore civil structures, deep sea ships, coastal yachts, containers, oil tankers, bulk carriers, cargo ships and cruise liners.
Distribution Channel
· Direct selling
· Indirect selling
Based on the category, the Middle East and Africa synthetic and biodegradable marine lubricants market is classified into direct selling and indirect selling.
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Competitive Landscape and Middle East and Africa Synthetic and Biodegradable Marine Lubricants Market Share Analysis
Middle East and Africa synthetic and biodegradable marine lubricants market competitive landscape provide details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, product lifeline curve. The above data points provided are only related to the companies' focus related to the Middle East and Africa synthetic and biodegradable marine lubricants market.
Some of the key players in the Middle East and Africa synthetic and biodegradable marine lubricants market are RSC Bio Solutions, PANOLIN AG, LanoPro, Klüber Lubrication, Ferryl, Chevron Corporation, LUKOIL Marine Lubricants DMCC, Exxon Mobil Corporation, TotalEnergies.com, FUCHS, Gulf Oil Marine Ltd., CASTROL LIMITED, Shell plc and Croda International Plc. among others.
Middle East and Africa synthetic and biodegradable marine lubricants market Regional Analysis/Insights
The Middle East and Africa synthetic and biodegradable marine lubricants market is segmented on the basis of product, end-user and distribution channel.
The countries in the Middle East and Africa synthetic and biodegradable marine lubricants market are South Africa, United Arab Emirates, Saudi Arabia, Egypt, Israel, Rest of the Middle East and Africa.
Saudi Arabia is expected to dominate the Middle East and Africa synthetic and biodegradable marine lubricants market due to the growth in spending on FPSO vessels in the region.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
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