Chemical & Materials Trending Marine Lubricants Market | Page 5

Regional Insight
• Among regions, APAC has the busiest ports where a large number of seaborne trades take place.
• These ports are also maintenance hubs for ships that demand marine lubricants.
• The marine lubricants market in the APAC region is projected to grow at the highest CAGR
between 2018 and 2023.
• This growth is mainly attributed to increasing trade activities, rising infrastructural developments
in the shipping industry (in the form of increasing network of ports), and growing use of less toxic
products in APAC countries, such as India, Japan, South Korea, and China.
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