Chemical & Materials Trending Marine Lubricants Market | Page 4

Industry Insights
❖Based on product type, the global marine lubricants market has been segmented into engine oil,
hydraulic fluid, compressor oil, and others.
❖The compressor oil segment is projected to grow at the highest CAGR during the forecast period
due to the rising demand from refrigeration and air compressors in the currently plying large
ships.
❖Additionally, there is a growing demand for luxury and cruise ships, leading to a significant
increase in demand for better cooling systems for use in these ships/vessels, which subsequently
translates into a demand for refrigeration compressor oil.
❖Based on ship type, the global marine lubricants market has been segmented into bulk carrier,
tanker, container ship, and others.
❖The bulk carrier and tanker segments together accounted for the major share of the marine
lubricants market in 2017, in terms of consumption, due to their huge numbers.
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