Chemical & Materials Trending Marine Lubricants Market | Page 3

Drivers & Restrain
• The increasing demand for emerging alternative technologies is expected to drive the growth of
the global marine lubricants market.
• The major factors restraining the growth of the global marine lubricants market are the fewer
trade activities and rising number of idle ships.
• The waning ship utilization rate, which has severely affected the marine lubricants market, is due
to the slowdown in the economy and fewer trade activities.
• Less number of old ships are being scrapped, and additional capacity is being generated, thus
filling the market with a surplus of idle ships being stranded at harbors and ports worldwide.
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