Marine Grease Market is expected to show significant growth by 2025

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Marine Grease Market Outlook to 2025 Top
Company, Regions, Type and Application, Forecast
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• Marine Grease Market Scenario

• Though marine grease market is growing rapidly,
  the challenges associated with the product may
  hamper the industry growth in the coming years.
  Stringent government regulations to protect the
  aquatic system from the spillage of the product
  will slow down the growth of the market. Major
  government bodies including US EPA and European
  Union has provided regulations for the product
  usage in ships or vessels.
• Marine grease market has been segmented into
  thickener type, application and region. On the
  basis of thickener type, the industry has been
  categorized into aluminum, barium, sodium,
  lithium, polyurea and others. Other thickener
  consists of organo-clay, calcium, etc. Lithium
  thickeners are likely to have a significant share
  in the coming years due to its wide usage in the
  application of wheel bearing, chassis
  lubrication, outboards of the ships or vessels.
• On the basis of application, marine grease market
  has been categorized into bulk carriers cargo
  ships, offshore shipping vessels, cruise
  ferries, and tankers. Bulk carriers cargo ships
  are likely to have substantial growth in the
  market due to increasing number of cargo
  shipments around the world.

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• Another key growth enabling factor fueling the
  marine grease market growth is increasing ship
  repair and maintenance activities around the
  world. Shipbuilding manufacturers prefers repair
  and maintenance of existing ship over new
  construction due to higher profitability.
• Furthermore, international trade and
  globalization has led to the transformation of
  several emerging economies as the manufacturing
  hub for the entire globe. Countries such as
  China, India, Mexico, Brazil, etc. are prime
  examples of this trend. This will increase the
  amount of global trade in the coming years which
  will, in turn, drive demand for new ships and
  repair of existing ones. Thus, the rising number
  of ship repair and maintenance activities across
  the world will further boost marine grease market
  demand in coming years.

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• Regional Analysis

• Asia Pacific is likely to have substantial marine
  grease market demand in the upcoming years due to
  rising number of shipbuilding activities in the
  region. Japan, South Korea and China reported
  majority of the new ship construction in recent
  years. Rising industrialization, increasing
  coastal economy and development of new waterways
  in the region are likely to increase product
  demand in the upcoming years.

• Competitive Analysis

• Some of the key players in the marine grease
  market includes ExxonMobil, Lucas Oil, Chevron,
  Pentrine Oil, Total Lubmarinem, CRC NZ, West,
  Liqui Moly, Castrol, British Petroleum, LUKOIL,
  Gulf Oils and Lubitec.

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