Offshore Lubricants Market Analysis & Forecast 2024-2030

Global Offshore Lubricants Market is expected to reach USD 8614.04 million by 2030 with CAGR of 3% between 2024 and 2030

With the ever-growing population and the emerging economies around the world, the demand for energy is only expected to grow. Currently over 50% of the world’s energy is produced with oil and gas. The demand for energy is expected to increase by 30% over the next 20 years and the production of oil and gas is expected to keep pace with the demand. Doing this will require continued exploration and drilling. The base material ensures high strength, while the sliding layer contains special non-abrasive fibres and solid lubricants which ensure excellent tribological properties even in damp environments or in the event of edge loads. The solid lubricants were developed to give extremely low coefficients of friction and wear rates in both wet and dry-running conditions.  

Grease lubricants have many applications onboard marine vessels; they provide sealing and retention on lubricated parts. Unlike oil lubricants, grease does not require frequent replenishment and, in open systems, it is used to coat surfaces where it is impractical to use oil. Grease is a semi-solid product consisting of a thickener dispersed in a liquid lubricant. The thickener forms a network structure that holds the lubricant stationary, comparable to a sponge holding water. The two most distinguishing properties of grease are its consistency and dropping point. Thickener and oil phase play important roles in grease composition. The thickener is usually present at a concentration level between 5% and 30%, depending on the desired consistency or “hardness“ of the grease.  

The increase in use of environmentally sound hydraulic fluids (ESHF) can be attributed to a growing awareness of the potential environmental impact and the need to observe legal and regulatory requirements. Biodegradable lubricants in the offshore and marine industries have been in use since last 3 decades, as an alternative to mineral oil based products, which only degrade slowly and inadequately. Choosing the correct type of fluid for a particular application can be problematic, given that most types offer some degree of biodegradability, however differ in performance and regulatory compliance. This document, while not intended to be a definitive specification or instruction, offers some guidance for the operator when determining the correct choice of ESHF.  

Asia – Pacific is largest market for Offshore Lubricants Market due to increased Marine Trade. Increased number of ships and cargo manufacturing along with technical advancement boosting the growth of market in region. South America and Africa Offshore Lubricants Market is the second highest growing market after Asia- Pacific as more than 55 % of market is consumed by Oil based marine lubricants. North America, Europe and Middle east expected to continue high growth rate in forecasted period.  

Offshore Lubricants Market: Product Type

• Engine Oil
• Hydraulic Oil
• Gear Oil
• Grease

Offshore Lubricants Market: Application

• Offshore Rigs
• Floating production storage and offloading (FPSOs)
• Offshore Support Vessels ( OSVs)

Offshore Lubricants Market : Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Offshore Lubricants Market:

• Royal Dutch Shell
• Chevron
• ExxonMobil
• Castrol
• Total
• British Petroleum
• Sinopec
• Idemitsu Kosan
• JX Nippon Oil & Energy Corp
• Lukoil

Geographical analysis of Offshore Lubricants Market:

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Offshore Lubricants Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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