Latin America Marine Lubricants Market size was around USD 6.18 billion in 2023 and is expected to grow at 2.99 % CAGR to reach $ 6.81 billion by 2028.
Lubricants are compounds that reduce the friction between any two surfaces in contact. Marine Lubricants are lubricants used in the shipping/marine industry. Marine cylinder lubricants covered the major percentage of the marine lubricants market sales in 2018.
By Oil Type
The kind of lubricant used determines how smoothly the machine functions. Mineral oil, which is extracted from natural petroleum, is majorly used in the marine industry. Grease is more frictional when compared to others, due to its high viscosity.
Hydraulic Fluid
Engine Oil
Compressor Oil
Turbine Oil
Others
Hydraulic Fluid is anticipated to push the marine lubricant market forward toward profits as it is currently in demand. The cylinder oil or engine oil was the major market driver in 2018.
Brazil
Argentina
Mexico
BP Plc., Royal Dutch Shell Plc., Exxon Mobil Corporation, Chevron Corporation, Sinopec Corporation, Idemitsu Kosan Co. Ltd., PJSC Lukoil, Total S.A, Indian Oil Corporation Ltd., Gulf Oil International, JX Nippon Oil & Energy Corporation, Avin Oil S.A., Fuchs Petrolub Se, H&R GmbH & Co. KGaA, JX Nippon Oil & Energy Corporation, Petronas Lubricants International, Quepet Lubricants, Stanley Group, Unimarine LLC, Vickers Oil, World Fuel Service Corporation, and AMPNI.Royal Dutch Shell Plc.
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