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Marine Lubricants Market - Global Outlook & Forecast 2022-2027

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  • 338 Pages
  • October 2022
  • Region: Global
  • Arizton
  • ID: 5671332
1h Free Analyst Time

Quick Summary:

The global marine lubricant market is witnessing remarkable growth, riding on the back of regulatory mandates, rising environmental concerns, and a growing demand in established markets such as Europe and APAC region. High-performance marine lubricants play a vital role in reducing carbon footprints and making marine operations sustainable which is being driven by regulations like the 2013 VGP and IMO 2020. The introduction of these regulations has spearheaded the use of environmentally acceptable lubricants (EALs) that not only comply with regulatory standards but also facilitate a significant reduction in the shipping industry's carbon footprint.

Special-class marine lubricants are pivotal in the efficient functioning of shipping equipment such as air compressors, ship engines, piston rings, roller bearings, compressor blades, enclosed gear among others. Shipping gear lubricated with high-performance marine lubricants improves overall efficiency, reduces rust, corrosion, moisture, oxidation, and breakdown, thus enabling machines to operate under a wide array of stringent conditions. Not only has the adoption of high-performance marine lubricants driven its demand, but the transition from conventional to modern feedstock such as base oils and additives to produce high-quality base stocks also plays a significant role. Thereby, contributing positively to the global marine lubricants market.

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The marine lubricants market is expected to grow at a CAGR of 3.19% during 2022-2027.


  • The global marine lubricant market is expected to witness shipments of 2,197 kilotons by 2027. Globally, the demand and adoption of high-performance marine lubricants are high due to the rising concerns about reducing carbon footprints, sustainability aspects, and the introduction of the 2013 VGP regulation and IMO 2020 regulation. This has led to the use of environmentally acceptable lubricants (EALs) based on PAOs that enable marine operators to comply with the regulation while reducing the carbon footprint in the shipping industry. This existing and upcoming demand can be broadly classified into base oil type, application segments, and end-user segments.
  • Marine lubricants are the special class of lubricants that are used to lubricate shipping equipment (such as air compressors, ship engines, piston rings, roller bearings, compressor blades, enclosed gear, and gas turbine systems, among others); that improve the overall efficiency of the engine and equipment operating in coastal areas. It plays a fundamental part in protecting the machines from rust, corrosion, moisture, oxidation, and breakdown, thus enabling the machine to operate under harsh conditions. Factors such as the demand for higher-performance marine lubricants and the transition from conventional feedstock to modern feedstock (such as base oil and additives) to produce high-quality base stock have contributed to the global marine lubricants market.
  • The marine lubricant industry has significantly changed due to customers' evolving needs and preferences. Two foremost factors, such as the demand for higher-performance marine lubricants and the transition from conventional feedstock to modern feedstock (such as base oil and additives) to produce high-quality base stock, have contributed to the changing market landscape in the marine lubricant industry.
  • The established markets of Europe and APAC are expected to witness high demand for high-performance marine lubricant products during the forecast period due to the increasing adoption of 40 BN cylinder oil in marine equipment and the high marine trade. Thus, this offers vendors many opportunities during the forecast period.


Bio-based Marine Lubricants is Gaining Momentum

  • The demand for bio-based lubricants is gaining momentum in the marine oil industry due to the increasing concerns about controlling ocean pollution and enabling marine operators to reduce their environmental footprint. This is driving the use of bio-based marine lubricants.

Conditions for bio-lubricity:

  • Biodegradability: Preparations containing at least 90% of a substance that biodegrades to at least 60% in 28 days, per OECD specifications.
  • Minimal Toxicity: Any preparation or substance that clears OECD 201, 202, and 203 standards for acute toxicity testing.
  • Non-bioaccumulative in Nature: Each product constituent that is non-biodegradable has to be tested to establish its “non-bioaccumulative” properties.
“Research suggests that every year around the world, between 37 million liters and 61 million liters of “operational lubricant” are discharged into the harbors and ports.”
  • Various policies and standards also mandate the use of bio-lubricants in marine vessels. For instance, as per Vessel General Permit (VGP), bio-degradable substances are mandated to be used for marine vessels operating in the North American region. Similarly, EU Ecolabel can be applied to any bio-lubricant, satisfying the required criteria in Europe. Additionally, bio-based lubricants reduce the health risk for employees and are gentle on the environment utilizing, protecting the aquatic life in case of spilled lubricants. So, in response to consumers’ healthy and sustainable lifestyles, vendors in the industry are actively sourcing marine lubricants based on renewable sources.
  • Steady Shift From Group I Base Stock To Group II Base Stock
  • With the increasing concern on reducing engine pollution, growing trends towards better fuel economy, and the rising engine oil durability, the demand for group II & group III base oil is gaining momentum for formulating marine lubricants. Although group I base oil has been used for decades in producing marine lubricants and trunk piston engine oil (TPEO) for medium-speed, four-stroke engines, its demand is still declining in the global marine lubricants market. Primarily because the group I base stocks have low thermal and oxidative stability, making it undesirable for them to operate during severe conditions in modern-day engines. It also makes it difficult for the marine operator to comply with the regulations.

Benefits of Group II base stocks:

  • Enhanced oxidation control
  • Better NOACK stability
  • Superior viscosity control
  • Better base number retention
  • Easy availability and low cost
Group II base stocks combined with selective additives provide added beneficial properties, thus delivering optimum performance and protection to equipment and machinery.


The major challenge faced in the marine lubricant market is the increasing raw material price. Base oil is the prime feedstock for producing marine lubricants. Presently, the prices of these raw materials are witnessing a rise primarily due to the current war between Russia and Ukraine that disrupted the supply chain in the lubricants industry, and sanctions in Russia reduced the supply of lubricants. In addition, the high crude oil price is also the factor contributing to the high cost of base oil, additives, and transportation, which directly leads to high prices for marine lubricants.



The marine lubricants market by base oil is divided into three segments: mineral, synthetic, and bio-based base oil. The mineral base oil is the most used feedstock for producing marine lubricants. However, as we advance, synthetic base oil is expected to witness the highest growth due to its superior properties compared to mineral oil. Synthetic base oils offer high flash points, can withstand any operating temperature, are environmentally friendly, and the machine's service life is twice that of mineral oil. Additionally, synthetic marine lubricants enhance vessel productivity, promote fuel economy, and reduce overall operational costs by reducing oil change interval and maintenance costs.

Segmentation by Base Oil

  • Mineral Base Oil
  • Synthetic Base Oil
  • Bio-Based Oil


Based on application, the marine lubricant market is divided into six segments: engine system, gear system, motor & auxilaries, hydraulic system, air compressor, and others. Engine systems held the highest share in the marine lubricants market in 2021 in terms of volume, and during the forecast period, the engine system is expected to lead the market. This is primarily due to its presence in all large to small and mid-size ships. The engine system is a vital component of marine vessels. It plays a vital role in ensuring the smooth functioning of the marine voyage by protecting the engine against wear and tear, friction, and breakdown of marine components. It also fuels and powers all marine vessels, from watersport ships to naval vessels.

Segmentation by Application

  • Engine System
  • Gear System
  • Motors & Auxiliaries
  • Hydraulic System
  • Air Compressor
  • Others


The end-use industry is divided into five segments bulk carriers, tankers, container ships, general cargo, and others. Bulk carriers held the highest share in the marine lubricants market in 2021 and are also expected to lead the market during the forecast period. Primarily due to the rising bulk carrier ship that consumes a significant chunk of lubricants for lubricating rolling bearings, threaded spindles, hinge, engine, and others for the vessel's maintenance. Factors such as rising seaborne trade, expanding urbanization, and increasing investment by the developing economies to boost their shipping industry are leading to an increased demand for bulk carrier ships.

Segmentation by End-Use

  • Bulk Carriers
  • Tankers
  • Container Ships
  • General Cargo
  • Others


A. APAC is the largest and fastest-growing region in the global marine lubricants market. The Asia-Pacific region is led by China, Japan, and South Korea. Marine lubricant products are witnessing a surge in demand from commercial vessels, tankers, general cargo, and container ships. The high penetration of coastal and inland waterways makes most of the region's demand for marine lubricant products such as cylinder oil, trunk piston engine oil, system oil, gear oil, and stern tube lubricants.

B. Europe is the second largest market in the global marine lubricants market. Factors such as steady economic growth, good infrastructure for shipbuilding, and higher disposable income among consumers are driving the industry. Europe also has robust innovation and technological support for producing complex vessels such as cruise ships, dredgers, and mega-yachts. In addition, aspects such as temporary startup of coal-fired power plants owing to shortage of pipeline natural gas, commodity trade growth between Asia and Europe. Such factors are expected to boost the shipping industry further, thereby propelling the marine lubricants market.

C. North America is the third-largest market for marine lubricants and accounts for 9.26% (value) of the global market. The strong penetration of the shipbuilding industry majorly drives the marine lubricant market in North America. The U.S. holds a significant market share in the global marine lubricant market and is expected to grow significantly in the forecast period. The U.S. is one of the major hubs for marine lubricant production due to the abundant availability of base oil feedstock and developed infrastructure for transportation, which attracts global players to set up their plants in the country. Chevron Corporation, Exxon Mobil Corporation, Cortec Corporation, Valvoline, and Penrite Oil are the key players in marine lubricants in the U.S.

Segmentation by Geography

  • APAC
  • China
  • South Korea
  • Japan
  • Rest of APAC
  • North America
  • The U.S.
  • Canada
  • Europe
  • Italy
  • Germany
  • Finland
  • Norway
  • Netherland
  • Rest of Europe
  • Latin America
  • Brazil
  • Paraguay
  • Mexico
  • Middle East & Africa
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa


The global marine lubricant market is moderately fragmented, and the degree of fragmentation is expected to accelerate during the forecast period. There are a significant number of global and domestic vendors across the geographies. Important global marine lubricant market players include TotalEnergies (France), Shell (Netherland), Exxon Mobil Corporation (US), Chevron Corporation (US), Fuchs (Germany), and Liqui Moly (Germany), among others. The high entry barriers characterize the market due to the mandate policies and standards for improving the overall energy demand and consumption of marine equipment. The market is expected to witness significant changes in raw materials, technology, and ingredient content in marine lubricant products.

Key Vendors

  • Chevron Corporation
  • Castrol
  • ExxonMobil Corporation
  • Shell
  • TotalEnergies

Other Prominent Vendors

  • Addinol
  • Cortec Corporation
  • Kluber Lubrication
  • Lubriplate Lubricants Company
  • Liqui Moly
  • Motul
  • Metalube
  • Pentagonlubricants
  • Penrite Oil
  • Panolin AG
  • Repsol
  • Sinopec
  • Vickers Oil
  • Valvoline Inc.
  • Vinayak Oil

Recent Developments:

  • In September 2019, Chevron Corporation launched high-performance gear oils for marine clutched gear systems that protect against extreme pressure, load, and shock.
  • In June 2021, Chevron Corporation formed a joint venture with Akwa Group to expand further across African ports in Niger, Gabon, Senegal, Benin, Tunisia, and the Democratic Republic of Congo.
  • In June 2022, Shell and CMA CGM Group entered an agreement in which Shell is expected to supply LNG to CMA CGM Group as marine fuel from the later half of 2023. This strategic agreement would enable the firm to achieve the goal of decarbonization.
  • In January 2021, Shell signed an agreement with Carnival Corporation, a cruise line operator, to supply high-performance marine lubricants for its cruise ship.


1. How big is the global marine lubricants market?
2. What is the projected market size of the global Marine Lubricants Market by 2027?
3. What is the growth rate of the Marine Lubricants Market?
4. Which region dominates the global marine lubricants market?
5. What are the key driving factors in the Marine Lubricants Market?
6. Who are the key players in the global Marine Lubricants Market?

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Premium Insights
6.1 Market Overview
6.2 Market Dynamics: Key Trends, Drivers, and Restraints
6.2.1 Market Trends & Opportunities
6.2.2 Market Drivers
6.2.3 Market Restraint
6.3 Segment Analysis
6.3.1 Insights by Base Oil
6.3.2 Insights by Application
6.3.3 Insights by End-Use
6.3.4 Geographical Analysis
6.3.5 Competitive Landscape
7 Market at a Glance
8 Introduction
8.1 Overview
8.1.1 Covid-19 Impact
8.2 Criteria to Select Marine Lubricants
8.2.1 Oil Viscosity
8.2.2 Oxidation Resistance
8.2.3 Flash Point
8.2.4 Thermal Stability
8.2.5 Detergency
8.2.6 Load Carrying Capacity
8.2.7 Alkalinity
8.3 Value Chain Analysis
8.3.1 Raw Material Suppliers
8.3.2 Manufacturer
8.3.3 Retailer/ Distribtor
8.3.4 End-Users
8.4 Regulations & Standards
8.4.1 Vessel Grant Permit
8.4.2 Eu Ecolabel
8.4.3 Nordic Swan
8.5 Patents - Marine Lubricants
9 Market Opportunities & Trends
9.1 Increasing Demand for Imo-Compliant Marine Fuel
9.2 Bio-Based Marine Lubricants Gaining Momentum
10 Market Growth Enablers
10.1 Increasing Use of Methanol as Marine Fuel
10.2 Steady Shift from Group I Base Stock to Premium Base Stock
10.3 Increasing Concerns About Sustainability in the Shipping Industry

11 Market Restraints
11.1 Increasing Raw Material Prices
11.2 Frequent Changes in Fuel Oil Specifications
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.2.1 by Value
12.2.2 by Volume
12.3 Marine Industry: Outlook
12.3.1 Current and Future Trends
12.3.2 Recent Orders for the Construction of Marine Vessels
12.4 Five Forces Analysis
12.4.1 Threat of New Entrants
12.4.2 Bargaining Power of Suppliers
12.4.3 Bargaining Power of Buyers
12.4.4 Threat of Substitutes
12.4.5 Competitive Rivalry
13 Base Oil
13.1 Market Snapshot & Growth Engine
13.1.1 by Value
13.1.2 by Volume
13.2 Market Overview
13.3 Mineral Base Oil
13.3.1 Market Overview
13.3.2 Market Size & Forecast (Value & Volume)
13.3.3 Market by Geography (Value & Volume)
13.4 Synthetic Base Oil
13.4.1 Market Overview
13.4.2 Market Size & Forecast (Value & Volume)
13.4.3 Market by Geography (Value & Volume)
13.5 Bio-Based Oil
13.5.1 Market Overview
13.5.2 Market Size & Forecast (Value & Volume)
13.5.3 Market by Geography (Value & Volume)
14 Application
14.1 Market Snapshot & Growth Engine
14.1.1 by Value
14.1.2 by Volume
14.2 Market Overview
14.3 Engine System
14.3.1 Market Overview
14.3.2 Market Size & Forecast (Value & Volume)
14.3.3 Market by Geography (Value & Volume)
14.4 Gear System
14.4.1 Market Overview
14.4.2 Market Size & Forecast (Value & Volume)
14.4.3 Market by Geography (Value & Volume)
14.5 Motor & Auxiliaries
14.5.1 Market Overview
14.5.2 Market Size & Forecast (Value & Volume)
14.5.3 Market by Geography (Value & Volume)
14.6 Hydraulic System
14.6.1 Market Overview
14.6.2 Market Size & Forecast (Value & Volume)
14.6.3 Market by Geography (Value & Volume)
14.7 Air Compressor
14.7.1 Market Overview
14.7.2 Market Size & Forecast (Value & Volume)
14.7.3 Market by Geography (Value & Volume)
14.8 Others
14.8.1 Market Overview
14.8.2 Market Size & Forecast (Value & Volume)
14.8.3 Market by Geography (Value & Volume)
15 End-Use
15.1 Market Snapshot & Growth Engine
15.1.1 by Value
15.1.2 by Volume
15.2 Market Overview
15.3 Bulk Carriers
15.3.1 Market Overview
15.3.2 Market Size & Forecast (Value & Volume)
15.3.3 Market by Geography
15.4 Tankers
15.4.1 Market Overview
15.4.2 Market Size & Forecast (Value & Volume)
15.4.3 Market by Geography
15.5 Container Ships
15.5.1 Market Overview
15.5.2 Market Size & Forecast (Value & Volume)
15.5.3 Market by Geography
15.6 General Cargo Ships
15.6.1 Market Overview
15.6.2 Market Size & Forecast (Value & Volume)
15.6.3 Market by Geography
15.7 Others
15.7.1 Market Overview
15.7.2 Market Size & Forecast (Value & Volume)
15.7.3 Market by Geography
16 Geography
16.1 Market Snapshot & Growth Engine
16.1.1 by Value
16.1.2 by Volume
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Base Oil
17.3.1 Market Size & Forecast (Value & Volume)
17.4 Application
17.4.1 Market Size & Forecast (Value & Volume)
17.5 End-Use
17.5.1 Market Size & Forecast
17.6 Key Countries
17.6.1 Us: Market Size & Forecast
17.6.2 Canada: Market Size & Forecast
18 Latin America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Base Oil
18.3.1 Market Size & Forecast (Value & Volume)
18.4 Application
18.4.1 Market Size & Forecast (Value & Volume)
18.5 End-Use
18.5.1 Market Size & Forecast
18.6 Key Countries
18.6.1 Brazil: Market Size & Forecast
18.6.2 Mexico: Market Size & Forecast
18.6.3 Paraguay: Market Size & Forecast
19 Middle East & Africa
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Base Oil
19.3.1 Market Size & Forecast (Value & Volume)
19.4 Application
19.4.1 Market Size & Forecast (Value & Volume)
19.5 End-Use
19.5.1 Market Size & Forecast
19.6 Key Countries
19.6.1 Egypt: Market Size & Forecast
19.6.2 South Africa: Market Size & Forecast
19.6.3 Rest of the Middle East & Africa: Market Size & Forecast
20 Apac
20.1 Market Overview
20.2 Market Size & Forecast
20.2.1 by Value
20.2.2 by Volume
20.3 Base Oil
20.3.1 Market Size & Forecast (Value & Volume)
20.4 Application
20.4.1 Market Size & Forecast (Value & Volume)
20.5 End-Use
20.5.1 Market Size & Forecast
20.6 Key Countries
20.6.1 China: Market Size & Forecast
20.6.2 South Korea: Market Size & Forecast
20.6.3 Japan: Market Size & Forecast
20.6.4 Rest of Apac: Market Size & Forecast
21 Europe
21.1 Market Overview
21.2 Market Size & Forecast
21.2.1 by Value
21.2.2 by Volume
21.3 Base Oil
21.3.1 Market Size & Forecast (Value & Volume)
21.4 Application
21.4.1 Market Size & Forecast (Value & Volume)
21.5 End-Use
21.5.1 Market Size & Forecast
21.6 Key Countries
21.6.1 Italy: Market Size & Forecast
21.6.2 Germany: Market Size & Forecast
21.6.3 Finland: Market Size & Forecast
21.6.4 Norway: Market Size & Forecast
21.6.5 Netherlands: Market Size & Forecast
21.6.6 Rest of Europe: Market Size & Forecast
22 Competitive Landscape
22.1 Competition Overview
22.2 Recent Developments
23 Key Company Profiles
23.1 Chevron Corporation
23.1.1 Company Overview
23.1.2 Financial Overview
23.1.3 Chevron Corporation in the Marine Lubricants Market
23.1.4 Product Offerings
23.1.5 Recent Developments
Development Type
23.1.6 Key Strategies
23.1.7 Key Strengths
23.1.8 Key Opportunities
23.2 Castrol
23.2.1 Company Overview
23.2.2 Financial Overview
23.2.3 Castrol in the Marine Lubricants Market
23.2.4 Product Offerings
23.2.5 Key Strategies
23.2.6 Key Strengths
23.2.7 Key Opportunities
23.3 Exxon Mobil Corporation
23.3.1 Company Overview
23.3.2 Financial Overview
23.3.3 Exxon Mobil Corporation in the Marine Lubricants Market
23.3.4 Product Offerings
23.3.5 Key Strategies
23.3.6 Key Strengths
23.3.7 Key Opportunities
23.4 Shell
23.4.1 Company Overview
23.4.2 Financial Overview
23.4.3 Shell in the Marine Lubricants Market
23.4.4 Product Offerings
23.4.5 Recent Developments
Development Type
23.4.6 Key Strategies
23.4.7 Key Strengths
23.4.8 Key Opportunities
23.5 Totalenergies
23.5.1 Company Overview
23.5.2 Financial Overview
23.5.3 Totalenergies in the Marine Lubricants Market
23.5.4 Product Offerings
23.5.5 Recent Developments
Development Type
23.5.6 Key Strategies
23.5.7 Key Strengths
23.5.8 Key Opportunities
24 Other Prominent Vendors
24.1 Addinol
24.1.1 Company Overview
24.1.2 Product Offerings
24.2 Cortec Corporation
24.2.1 Company Overview
24.2.2 Product Offerings
24.3 Fuchs
24.3.1 Company Overview
24.3.2 Business & Financial Overview
24.3.3 Product Offerings
24.4 Kluber Lubrication
24.4.1 Company Overview
24.4.2 Financial Overview
24.4.3 Product Offerings
24.5 Lubriplate Lubricants Company
24.5.1 Company Overview
24.5.2 Product Offerings
24.6 Liqui Moly
24.6.1 Company Overview
24.6.2 Product Offerings
24.7 Motul
24.7.1 Company Overview
24.7.2 Product Offerings
24.8 Metalube
24.8.1 Company Overview
24.8.2 Product Offerings
24.9 Pentagonlubricants
24.9.1 Company Overview
24.9.2 Product Offerings
24.10 Penrite Oil
24.10.1 Company Overview
24.10.2 Product Offerings
24.11 Panolin AG
24.11.1 Company Overview
24.11.2 Product Offerings
24.12 Repsol
24.12.1 Company Overview
24.12.2 Business & Financial Overview
24.12.3 Product Offerings
24.13 Sinopec
24.13.1 Company Overview
24.13.2 Business & Financial Overview
24.13.3 Product Offerings
24.14 Vickers Oil
24.14.1 Company Overview
24.14.2 Product Offerings
24.15 Valvoline
24.15.1 Company Overview
24.15.2 Business & Financial Overview
24.15.3 Product Offerings
24.16 Vinayak Oil
24.16.1 Company Overview
24.16.2 Product Offerings
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market by Base Oil
26.2 Mineral Base Oil
26.2.1 by Value
26.2.2 by Volume
26.3 Synthetic Base Oil
26.3.1 by Value
26.3.2 by Volume
26.4 Bio-Based Oil
26.4.1 by Value
26.4.2 by Volume
26.5 Market by Application
26.6 Engine System
26.6.1 by Value
26.6.2 by Volume
26.7 Gear System
26.7.1 by Value
26.7.2 by Volume
26.8 Motor & Auxiliaries
26.8.1 by Value
26.8.2 by Volume
26.9 Hydraulic System
26.9.1 by Value
26.9.2 by Volume
26.10 Air Compressor
26.10.1 by Value
26.10.2 by Volume
26.11 Others
26.11.1 by Value
26.11.2 by Volume
26.12 Market by End-Use
26.13 Bulk Carriers
26.13.1 by Value
26.13.2 by Volume
26.14 Tankers
26.14.1 by Value
26.14.2 by Volume
26.15 Container Ships
26.15.1 by Value
26.15.2 by Volume
26.16 General Cargo Ships
26.16.1 by Value
26.16.2 by Volume
26.17 Others
26.17.1 by Value
26.17.2 by Volume
27 Geography
27.1 North America
27.2 Base Oil
27.2.1 by Value
27.2.2 by Volume
27.3 Application
27.3.1 by Value
27.3.2 by Volume
27.4 End-Use
27.4.1 by Value
27.4.2 by Volume
27.5 Europe
27.6 Base Oil
27.6.1 by Value
27.6.2 by Volume
27.7 Application
27.7.1 by Value
27.7.2 by Volume
27.8 End-Use
27.8.1 by Value
27.8.2 by Volume
27.9 Apac
27.10 Base Oil
27.10.1 by Value
27.10.2 by Volume
27.11 Application
27.11.1 by Value
27.11.2 by Volume
27.12 End-Use
27.12.1 by Value
27.12.2 by Volume
27.13 Latin America
27.14 Base Oil
27.14.1 by Value
27.14.2 by Volume
27.15 Application
27.15.1 by Value
27.15.2 by Volume
27.16 End-Use
27.16.1 by Value
27.16.2 by Volume
27.17 Middle East & Africa
27.18 Base Oil
27.18.1 by Value
27.18.2 by Volume
27.19 Application
27.19.1 by Value
27.19.2 by Volume
27.20 End-Use
27.20.1 by Value
27.20.2 by Volume
28 Appendix
28.1 Abbreviations

Companies Mentioned

  • Chevron Corporation
  • Castrol
  • ExxonMobil Corporation
  • Shell
  • TotalEnergies
  • Addinol
  • Cortec Corporation
  • Kluber Lubrication
  • Lubriplate Lubricants Company
  • Liqui Moly
  • Motul
  • Metalube
  • Pentagonlubricants
  • Penrite Oil
  • Panolin AG
  • Repsol
  • Sinopec
  • Vickers Oil
  • Valvoline Inc.
  • Vinayak Oil


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.