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Global Offshore Lubricants Market 2017-2021

About Offshore Lubricants

The offshore lubricant is a substance that reduces friction and wears at the interface of the two materials. It helps in reducing the friction by lowering the shear strength of interface. Lubrication is a process of using materials to improve the smoothness of the movement of one surface over other. A lubricant reduces the wear and friction at the interface of two materials. It helps in reducing the adhesive friction by lowering the shear strength of the interface. Lubricants can be solids, liquids or semi-liquids, and gases, or a combination of solids, liquids, and gases.

Technavio’s analysts forecast the global offshore lubricants market to grow at a CAGR of 3.86% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global offshore lubricants market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • ROW
Technavio's report, Global Offshore Lubricants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BP
  • Chevron
  • ExxonMobil
  • Shell
  • Total
Other prominent vendors
  • AEGEAN MARINE PETROLEUM NETWORK
  • FUCHS
  • GULF OIL
  • Idemitsu Kosan
  • JX Nippon Oil & Energy
  • Klüber Lubrication
  • LUKOIL
  • PANOLIN
  • Petroliam Nasional Berhad
  • (PETRONAS)
  • PLUSCO
  • Quepet Lubricants
  • RS Clare & Co
  • Sinopec
  • Unimarine
  • BENJN R. VICKERS & SONS
Market driver
  • Increase in offshore exploration and production investments
  • For a full, detailed list, view our report
Market challenge
  • Fluctuation in crude oil prices
  • For a full, detailed list, view our report
Market trend
  • Growth of bio-based lubricants
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Offshore Lubricants Market 2017-2021

Technavio recognizes the following companies as the key players in the global offshore lubricants market: BP, Chevron, ExxonMobil, Shell, and Total.

Other Prominent Vendors in the market are: AEGEAN MARINE PETROLEUM NETWORK, FUCHS, GULF OIL, Idemitsu Kosan, JX Nippon Oil & Energy, Klüber Lubrication, LUKOIL, PANOLIN, Petroliam Nasional Berhad, (PETRONAS), PLUSCO, Quepet Lubricants, RS Clare & Co, Sinopec, Unimarine, and BENJN R. VICKERS & SONS.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growth of bio-based lubricants. The use of environment-friendly lubricants such as bio-based lubricants helps in reducing VOCs and toxicity of gases. This helps in maintaining the environmental balance. In developed countries, such as Canada, the US, and Germany, bio-based offshore lubricants are preferred, which are environment-friendly.”

According to the report, one driver in the market is increase in offshore exploration and production investments. The increase in demand for energy and the depletion of onshore reserves have made oil and gas companies invest significantly in offshore oil and gas reserves. The growth of drilling activities and the rise in the demand from offshore rigs and FPSO are likely to foster the demand for offshore lubricants. Between 2010 and 2015, the global offshore oil production was at the highest level in 2015 and accounted for around 30% of the global oil production. In 2015, the offshore oil production was recorded at more than 27 million barrels in more than 50 countries.

Further, the report states that one challenge in the market is fluctuation in crude oil prices. Offshore lubricants are mainly manufactured from crude oil by the process of fractioning. Mineral oil-based lubricants accounted for more than 70% share of the global offshore lubricants market. The oil and gas industry is one of the major suppliers of raw materials for the global offshore lubricants market. The fluctuations in the prices of crude oil have severe effects on the prices of the raw materials. Thus, they affect the costs of offshore lubricants as well. In 2016, the price of crude oil per barrel decreased at a rate of nearly 60% as compared to the previous year.

Companies Mentioned

BP, Chevron, ExxonMobil, Shell, Total, AEGEAN MARINE PETROLEUM NETWORK, FUCHS, GULF OIL, Idemitsu Kosan, JX Nippon Oil & Energy, Klüber Lubrication, LUKOIL, PANOLIN, Petroliam Nasional Berhad, (PETRONAS), PLUSCO, Quepet Lubricants, RS Clare & Co, Sinopec, Unimarine, and BENJN R. VICKERS & SONS.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Main functions of offshore lubricants
      • Table Production process of petroleum-based lubricants
  • Market landscape
    • Market size and forecast
      • Table Global offshore lubricants market 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global offshore lubricants market by application
      • Table Global offshore lubricants market by application 2016 (% share of revenue)
      • Table Global offshore lubricants market by application 2021 (% share of revenue)
    • Global offshore lubricants market for engine oil application
      • Table Global offshore lubricants market for engine oil application 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market for engine oil application 2016-2021
    • Global offshore lubricants market for gear oil application
      • Table Global offshore lubricants market for gear oil application 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market for gear oil application 2016-2021
    • Global offshore lubricants market for grease application
      • Table Global offshore lubricants market for grease application 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market for grease application 2016-2021
    • Global offshore lubricants market for other applications
      • Table Global offshore lubricants market for other applications 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market for other applications 2016-2021
  • Market segmentation by end-user
    • Global offshore lubricants market by end-user
      • Table Global offshore lubricants market by end-user 2016 (% share of revenue)
      • Table Global offshore lubricants market by end-user 2021 (% share of revenue)
    • Global offshore lubricants market by OSV
      • Table Global offshore lubricants market by OSV 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market by OSV 2016-2021
    • Global offshore lubricants market by offshore rigs
      • Table Global offshore lubricants market by offshore rigs 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market by offshore rigs 2016-2021
    • Global offshore lubricants market by FPSO
      • Table Global offshore lubricants market by FPSO 2016 and 2021 ($ millions)
      • Table Market forecast: Global offshore lubricants market by FPSO 2016-2021
  • Geographical segmentation
    • Global offshore lubricants market by geography
      • Table Global offshore lubricants market by geography 2016 (% share of revenue)
      • Table Global offshore lubricants market by geography 2021 (% share of revenue)
    • Offshore lubricants market in APAC
      • Table Offshore lubricants market in APAC 2016 and 2021 ($ millions)
      • Table Market forecast: Offshore lubricants market in APAC 2016-2021 ($ millions)
    • Offshore lubricants market in North America
      • Table Offshore lubricants market in North America 2016 and 2021 ($ millions)
      • Table Market forecast: Offshore lubricants market in North America 2016-2021 ($ millions)
    • Offshore lubricants market in Europe
      • Table Offshore lubricants market in Europe 2016 and 2021 ($ millions)
      • Table Market forecast: Offshore lubricants market in Europe 2016-2021 ($ millions)
    • Offshore lubricants market in ROW
      • Table Offshore lubricants market in ROW 2016 and 2021 ($ millions)
      • Table Market forecast: Offshore lubricants market in ROW 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Gulf of Mexico offshore production of crude oil 2010-2016 (thousand barrels per day)
      • Table Global offshore production by water depths (million barrels per day)
    • Market challenges
  • Market trends
    • Growth of bio-based lubricants
    • Bio-refineries: The future of petroleum
      • Table Applications of biomass
    • Increased longevity of offshore mechanical parts
  • Vendor landscape
    • Competitive scenario
    • Key market vendors
      • Table Key vendors in offshore lubricants market 2016
    • Other prominent vendors
  • Key vendor analysis
    • BP
      • Table BP: Business segmentation by revenue 2016
      • Table BP: Geographical segmentation by revenue 2016
    • Chevron
      • Table Chevron: Business segmentation by revenue 2016
      • Table Chevron: Geographical segmentation by revenue 2016
    • ExxonMobil
      • Table ExxonMobil: Business segmentation by revenue 2016
      • Table ExxonMobil: Geographical segmentation by revenue 2016
    • Shell
      • Table Shell: Business segmentation by revenue 2016
      • Table Shell: Geographical segmentation by revenue 2016
    • Total
      • Table Total: Business segmentation by revenue 2016
      • Table Total: Geographical segmentation by revenue 2016
  • Appendix
    • List of abbreviations
  • Explore Technavio

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