Sikkim Journal

Introduction

Global Offshore Lubricants Market

The global Offshore Lubricants Market is studied in detail in the new report on Wise Guy Research (WGR). The new report studies the Offshore Lubricants Market by profiling its major driving and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and allowing easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods. The key economic factors affecting the global Offshore Lubricants Market are studied in detail in the global Offshore Lubricants Market report, including a detailed assessment of the microeconomic and macroeconomic environment of the market. Factors surrounding the market and affecting its movement are studied in detail in the report, allowing for a comprehensive understanding of the market’s likely growth trajectory of the market in view of the economic factors affecting its dynamics. PORTER’s five forces analysis is performed in the report in order to understand the effect of various economic drivers on the Offshore Lubricants Market over the forecast period. Key factors likely to affect the market’s dynamics in the coming years are profiled in detail in the report, to allow readers a complete understanding of the major obstacles standing in their way in the Offshore Lubricants Market.

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Increase in off shore exploration activities, growth in subsea installations, the growing global energy demand and increasing demand for oil and gas are key driving factors responsible for the growth of the global offshore lubricants market.Increase in demand for oil and gas in the world is one of the primary factors promoting the growth of the global offshore lubricants market. According to the International Energy Agency (IEA), the global oil demand in 2018 is 6.9 mb/d and is expected to reach 104.7 mb/d by 2023. The demand is expected to rise at an average annual rate of 1.2 mb/d. Countries like China and India together contributing to more than 50% of the global oil demand. Owing to these factors, the global offshore lubricants market is anticipated to witness healthy growth in the future.

The Global Offshore Lubricants Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. The Asia Pacific region is further segmented into the countries such as China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The North American region dominates the market due to the growing demand for energy, and production. According to the Global Energy Statistical Yearbook 2018, the overall energy consumption of North America increased from 2,465 Mtoe in 2015 to 2,473 Mtoe in 2016 finally reaching 2,489 Mtoe in 2017. Regulations imposed by the US is also an important factor propelling the offshore lubricants market. For instance, The U.S. EPA has formulated vessel general permit (VGP) guidelines for vessels operating in waters of the U.S. These VGP requirements are a set of guidelines established reduce aquatic environment impact by prescribing a set list of environmentally acceptable lubricants (EAL). Owing to these factors, the North American region is expected to dominate the global offshore lubricants market in the future. New product launches, expansion of facilities, mergers and acquisitions and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.

For instance, in April 2019, China’s state-owned Cosco Shipping Energy Transportation has inked a memorandum of understanding (MOU) with oil major ExxonMobil to deepen their cooperation on marine lubricants purchasing and ship leasing.Moreover, in September 2018, as the run-up to stricter sulphur emissions standards continues, Chevron Marine Lubricants has developed a new range of cylinder lubricants compatible with virtually all available global sulphur cap 2020 compliance options as the operation of vessels

The leading players in the global Offshore Lubricants Market are also profiled in detail in the report to provide readers with a complete understanding of the competitive landscape of the global market. Major competitive strategies employed by leading players in the market are elaborated upon in detail, so that readers can get an accurate picture of what is working in the market and what is likely to bring them sustained success. Along with this, the report also provides the readers with a handy guide to what to avoid in the Offshore Lubricants Market and remain free from the major concerns plaguing the market players.

Key segments of the global Offshore Lubricants Market are also profiled in detail to understand the granular detail of the global Offshore Lubricants Market. Regional analysis of the global Offshore Lubricants Market is performed to provide readers with a clear idea of where the market is most likely to prosper in the coming years, and which regions are not that likely to host steady growth of the Offshore Lubricants Market over the forecast period.

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Major Key Points of Global Offshore Lubricants Market

• Global Offshore lubricants Market Methodology and Scope 
• Global Offshore lubricants Market – Market Definition and Overview 
• Global Offshore lubricants Market – Executive Summary 
• Global Offshore lubricants Market – Market Dynamics 
• Global Offshore lubricants Market – Industry Analysis 
• Global Offshore lubricants Market – by End use 
• Global Offshore lubricants Market – By Application 
• Global Offshore lubricants Market – By Region 
• Global Offshore lubricants Market – Competitive Landscape 
• Company Profiles 
• Global Offshore lubricants Market – Premium Insights
• Global Offshore lubricants Market – DataM 

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