Marine Lubricants Market: Global Forecasts to 2021 Oct 2016 | Page 2

Marine Lubricants Market: Global
Forecasts to 2021
“Marine lubricants market projected to register a CAGR of 2.2%”
The market size of marine lubricants is projected to reach USD 6.02 billion by 2021,
registering a CAGR of 2.2% between 2016 and 2021. The growth rate is expected to be
steady during the forecast period. The market is expected to register a nominal growth due
to increase in bilateral trade between different nations. The major factors restraining the
growth of the market are less trade activities and rising number of idle ships.
“Mineral oil to be the largest oil type of marine lubricants market”
Mineral oil lubricants are available in light and heavy grades depending on the usage and
requirement. They are produced in large quantities because of its high demand in different
marine applications such as engines, turbines, and stern tubes. The market for mineral oil is
driven by demand from Asia-Pacific and Europe. The mineral oil marine l