Brazil Marine Lubricant Market Share, Globe Key Updates, Demand, Size and Industry Forecast to 2027
Brazil MarineLubricant Market size is expected to reach USD 15.01million by 2027 while exhibiting a CAGR of 1.9% between 2020 and 2027. This isattributable to the growing demand for eco-friendly Brazil marine lubricantproducts in the forthcoming years. This information is published by FortuneBusiness Insights, in its latest report, titled, “Brazil MarineLubricant Market Size, Share & COVID-19 Impact Analysis, By Product Type (MarineCylinder Oil, Piston Engine Oil, System Oil, and Other), By Ship Type (BulkCarrier, Oil Tankers, General Cargo, Container Ships, and Others) Forecast,2020-2027.” The report mentionsthat the market stood at USD 14.17 million in 2019 and is likely to gainmomentum during the forecast period.
High Demand for Lubricants amidCOVID-19 to Augment Growth
The lockdown imposed by Brazil in March2020 owing to the widespread effects of the pandemic brought a complete halt toindustrial operations. This led to the economy being stagnant in the country.However, active efforts by the Government of Brazil to resume operations andevery possible support to the Brazil marine lubricant manufacturers areexpected to bode well for the market amid the COVID-19 in the near future.
What does the Report Include?
The Brazil marine lubricant marketreport includes a detailed assessment of various growth drivers and restraints,opportunities, and challenges that the market will face during the projectedhorizon. Additionally, the report provides comprehensive research into theregional developments of the market, affecting its growth during the forecastperiod. It includes information sourced from the advice of expert professionalsfrom the industry by our research analysts using several methodologies. Thecompetitive landscape offers further detailed insights into strategies such asproduct launches, partnerships, mergers and acquisitions, and collaborationsadopted by the companies to maintain market stronghold between 2020 and2027.
DRIVING FACTORS
Increasing Demand for Eco-FriendlyLubricants to Augment Growth
The stringent government regulations toproduce low-sulfur content fuels had led the manufacturers to produceeco-friendly Brazil marine lubricant products. The bio-based lubricants arederived from polyalkylene glycols, animal fats, synthetic esters, and vegetableoils. Additionally, they offer excellent thermal stability and betterperformance leading to reduced operational costs, along with improved fuelefficiency. Owing to their superior abilities, the growing demand foreco-friendly lubricant is likely to favor the Brazil marine lubricant marketgrowth during the forecast period.
SEGMENTATION
Marine Cylinder Oil Segment Held the HighestMarket Share in 2019
The marine cylinder oil segment, basedon product, held the market for Brazil marine lubricant share in terms ofrevenue in 2019 and is expected to showcase an exponential growth during theforecast period. This is ascribable to factors such as the increasing adoptionof this type of oil to protect against corrosion and abrasion.
COMPETITIVE LANDSCAPE
Eminent Companies Focus on ProductLaunches to Strengthen Their Market Positions
The Brazil marine lubricant market isconsolidated by the presence of prominent companies that are focusing onlaunching advanced Brazil marine lubricant products to strengthen theirpositions. Other key players are adopting strategies such as partnership,merger and acquisition, and collaboration to gain a competitive edge over theirrivals in the fiercely competitive marketplace.
List of Top Companies Profiled in theBrazil Marine Lubricant Market:
- TOTAL Brasil (Brazil)
- ExxonMobil (U.S.)
- Repsol (Spain)
- Royal Dutch Shell plc (Netherlands)
- UniMarine (Singapore)
- Cockett Group (Singapore)
- Chevron Marine Lubricants (U.S.)
- Idemitsu Kosan Co., Ltd. (Japan)
Marine lubricants are specially adoptedin enhancing the functioning of ship components. The Brazil marine lubricantdemand is tremendously high owing to the flourishing waterways transportationin the region. These lubricants efficiently work under high or low temperaturesto prevent the engine from corrosion and abrasion.
Industry Development:
April 2019 – SHELL MARINE announced the launch of Shell Alexia40, new two-stroke engine cylinder oil that complies to the IMO 2020regulations. According to the company, the engine has a low 0.5% content ofsulfur and aids in optimizing the engine components performance.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/brazil-marine-lubricant-market-104286
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Price Trend Analysis
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Brazil Marine Lubricant Market
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Brazil Marine Lubricant Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value and Volume)
- Marine Cylinder oil
- Piston Engine Oil
- System Oil
- Other
- By Ship Type (Value and Volume)
- Bulk Carrier
- Oil Tankers
- General Cargo
- Container Ships
- Others
- Competitive Landscape
- Company Profiles (Overview, Products & Services, Recent Developments, Strategies, Financials [based on availability])
- TOTAL Brazil
- ExxonMobil
- Repsol
- Royal Dutch Shell plc
- UniMarine
- Cockett Group
- Chevron Marine Lubricants
- Strategic Recommendations
TOC Continued…!
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