Offshore Lubricants Market 2018 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
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Offshore Lubricants Market 2018 Offshore Lubricants Market – 2018 : Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
Lubricants have a major impact on maintenance costs and the service life of components. Offshore lubricants producers across the world, work in close coordination with both, component manufacturers and shipping industry equipment manufacturers to increase service intervals and life of components while increasing the operational reliability. The investment in a lubricant may be relatively small, but it can make a big difference. Reducing the environmental impact is essential in the shipping and offshore industry. As a shipping operator, it has become essential to be aware of the expanding body of environmental regulations affecting their business. Additionally, a growing interest in ecological issues drives the customers to demand environmentally sound operating process.
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Offshore Lubricants Market 2018 Market Segmentation
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Offshore Lubricants Market 2018 Key Players: • • • • • • • • •
BP plc Chevron Corporation Exxon Mobil Corporation Royal Dutch Shell plc Total S.A Aegean Marine Petroleum Fuchs Petrolub SE Gulf Oil Corporation Idemitsu Kosan Co.,Ltd.
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Offshore Lubricants Market 2018
Report Analysis Various factors drive the growth of offshore lubricant market in different regions across the globe. The major factor boosting the market growth is the growth in offshore oil & gas exploration and production activities, particularly in the Gulf of Mexico, Caspian, Arabian Sea and the Red Sea. The growth in the deep sea exploration activities across the globe is expected to remain a key driving factor for the global offshore lubricants market. Stringent regulations regarding threat to flora and fauna on account of unregulated disposal of marine lubricants, coupled with volatile petrochemicals pricing have led industry key players to develop bio-based alternatives.
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