Turkey
marine lubricant demand was 84.5 kilo tons in 2013 and is expected to
reach 103.8 kilo tons in 2022, growing at a CAGR of 2.30% from 2014
to 2022. In terms of revenue, the market is expected to grow at a
CAGR of 3.48% from 2014 to 2022.
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Marine Lubricants Market s Report with
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Marine
lubricants reduce the friction between operating mechanical
components, thereby increasing the output efficiency of machineries,
engines and components installed on a ship. The growing shipping
industry is expected to augment the growth of the marine lubricant
market in the near future. To prevent lubricant spillage in water
bodies, and regulatory pressure to increase product quality and
ensure environment safety has resulted in increased demand for
relatively safer synthetic and bio-based marine lubricants.
Key
product segments analyzed and estimated in this study include
mineral, synthetic and bio-based lubricants. Mineral lubricants
dominated the product market, accounting for more than 83.00% of the
overall demand volume in 2013. Marine lubricants are primarily
categorized into seven different applications including engine oils,
hydraulic oils, grease, turbine oils, gear oils, compressor oils and
heat transfer fluids. Engine oils captured majority of the market and
accounted for more than 46.00% of the overall marine lubricant market
in 2013. Hydraulic oils and grease follows engine oils and are
expected to grow with a CAGR of 2.39% and 2.35% from 2014 to 2022,
respectively.
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Some
of the key companies that deal in mineral oil, synthetic and
bio-based marine lubricants include Total Lubricants (Lubmarine),
Royal Dutch Shell, Chevron, BP Marine, Castrol, and ExxonMobil. Owing
to growing competition, large MNCs have started signing contractual
agreements with local players in Turkey in order to tap the
unexplored Turkish markets. Growing marine traffic across the Turkish
straits coupled with the impending regulations is likely to fuel the
bio based marine lubricants market over the forecast period
gradually. Reduction in the Group I base oil production is
anticipated to hinder the overall market growth. As, Group I base oil
form one of the impeccable raw materials required for manufacturing
marine lubricants. The paucity of Group I base oils shall be
overshadowed by the Group II base oils however procurement of costly
Group II base oils is expected to hoist the production cost
gradually.
This
research analyzes and estimates the performance and demand of marine
lubricants in the Turkish market scenario, providing detailed trend
analysis of the market by geography and comprehensive analysis of
companies that are dealing in marine lubricants. The report presents
a thorough assessment of the strategies followed by different
stakeholders by segmenting the marine lubricants market as below:
Turkey
marine lubricant market, by product type
- Mineral oil marine lubricants
- Synthetic marine lubricants
- Bio-based marine lubricants
Turkey
marine lubricant market, by application
- Engine oil marine lubricants
- Hydraulic oil marine lubricants
- Grease
- Others (turbine oils, gear oils, compressor oils and heat transfer fluids)
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Press Release Of Marine Lubricants Market Turkey
http://www.transparencymarketresearch.com/pressrelease/turkey-marine-lubricants-market.htm
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