DELRAY BEACH, Fla., Feb. 16, 2026 /PRNewswire/ -- According to MarketsandMarkets, "Marine Lubricants Marketby Base Oil (Mineral Oil, Synthetic Oil, and Bio-based Oil), Product Type (Engine Oil, Hydraulic Fluid, Compressor Oil), Ship Type (Bulk Carriers, Container Ships, Tankers), and Region - Global Forecast to 2030", the marine lubricants market size was valued at USD 6.55 billion in 2025 and is projected to reach USD 7.08 billion by 2030, at a CAGR of 1.56% between 2025 and 2030.
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Marine Lubricants Market Size & Forecast:
- Market Size Available for Years: 2020-2030
- 2025 Market Size: USD 6.55 billion
- 2030 Projected Market Size: USD 7.08 billion
- CAGR (2025-2030): 1.56%
Marine Lubricants Market Trends & Insights:
- The marine lubricants market has significant growth potential in the coming years due to increasing demand in the commercial marine business and vessel maintenance activities. There is an emerging trend towards improved engine efficiency, equipment protection, and regulatory compliance. The industry is constantly moving towards high-performance lubricating solutions. Marine lubricants provide maximum engine efficiency, reduce wear, and extend equipment life, making them a preferred choice for vessel operation.
- Asia Pacific dominated the global marine lubricants market in 2024, accounting for a market share of 46.2%, in terms of value.
- The synthetic oil segment is projected to be the fastest-growing base oil type of marine lubricants, at a CAGR of 2.11%, in terms of value, between 2025 and 2030.
- The tankers segment is projected to register the highest CAGR of 1.70%, in terms of value, during the forecast period.
- Exxon Mobil Corporation, Shell plc, and China Petroleum & Chemical Corporation are identified as key players in the global marine lubricants market. These companies have strong market presence and extensive product portfolios.
- Penrite Oil Company, SK Enmove Co., Ltd., and Gandhar Oil Refinery (India) Limited, among other emerging players, have carved out solid positions within specialized niche segments, highlighting their potential to evolve into future market leaders.
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The marine lubricants market has registered growth due to the increasing global shipping activities, fleet sizes, and operation hours, combined with the imposition of stringent environmental policies and demands for high-performance, eco-friendly lubricants. In addition, technological innovations in lubricant chemistry and predictive maintenance solutions are improving engine efficiency as well as reducing operating costs. The rising offshore activities and port operations are also fueling the market demand for marine lubricants.
By ship type, the tankers segment accounted for the second-largest market share.
The tankers segment was the second-largest ship type in the marine lubricants market in 2024, influenced by high demand for engines and machinery in transporting crude oil over long distances. Continuous operations over long distances result in greater lubricant consumption. Heavy-duty tanker engines demand high-performance lubricants, which help in minimizing wear and provide greater dependability. Increasing requirements for shipments of oils and chemicals are contributing to the growth of the market in this segment.
By product type, the hydraulic fluid segment accounted for the second-largest market share.
The hydraulic fluid segment accounted for the second-largest market share in 2024, in terms of value. This can be attributed mainly to its significant role in controlling and smoothly operating shipboard hydraulic systems. Its demand is supported by extensive use in steering gears, cranes, winches, and other onboard machinery, where reliable performance and system protection are critical to safe and efficient vessel operations.
Europe was the second-largest market for marine lubricants in 2024.
In 2024, Europe accounted for the second-largest share of the global marine lubricants market. This market dominance is led by the region's well-developed marine infrastructure and substantial commercial vessel traffic. Europe benefits from the high-density ship ports and an active merchant and offshore fleet. Environmental regulations are another factor that supports the requirements for high-performance marine lubricants. Continuous vessel maintenance and retrofitting operations contribute to sustained market consumption rates.
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Key Players
The key players profiled in the report include BP p.l.c. (UK), Chevron Corporation (US), Exxon Mobil Corporation (US), Shell plc (UK), TotalEnergies SE (France), Petronas (Malaysia), LUKOIL (Russia), Idemitsu Kosan Co., Ltd (Japan), China Petroleum & Chemical Corporation (China), ENEOS Holdings, Inc. (Japan), Gulf Oil International Ltd. (UK), Emirates National Oil Company (UAE), ENI S.p.A (Italy), Indian Oil Corporation Limited (India), PetroChina Company Limited (China), Moeve (Spain), FUCHS (Germany), Gazprom (Russia), and Calumet, Inc. (US).
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