Marine Lubricants Market

The marine lubricants market is projected to grow from USD 6.55 billion in 2025 to USD 7.08 billion by 2030, at a CAGR of 1.56%, in terms of value. The market growth of marine lubricants can be attributed to the rising global seaborne trade and increasing fleet sizes. Marine lubricants offer enhanced efficiency, reduce wear, control deposits, and extend equipment life in marine engines and other machinery. The growth is further supported by the rising demand from commercial shipping, offshore operations, and marine transportation services, including enhanced efficiency in the formulations and application procedures, along with consistent progress in marine lubricant formulations and application efficiency.

The dominant strategies prevailing in the marine lubricants market are product launches, partnerships, mergers & acquisitions, and geographic expansions. Companies such as TotalEnergies SE (France) and BP P.L.C. (UK)  focus on expanding their product portfolios with innovative marine lubricants, while firms like Shell plc (UK), Chevron Corporation (US),  and Exxon Mobil Corporation (US) emphasize global expansion to strengthen their market presence.

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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). These companies have adopted several strategies to enhance their position in the market. Some of these involve introducing new products, expansions, partnerships, and mergers & acquisitions, to help expand their market share.

Shell plc, commonly known as Shell, is an energy and petrochemical company. It is one of the world’s most valuable companies and one of the six oil & gas “supermajors.” The company operates through five segments: integrated gas, upstream, renewables and energy solutions, marketing, and chemicals and products. Its upstream business is engaged in the exploration and extraction of crude oil, natural gas, and natural gas liquids, as well as in marketing and transporting them. The integrated gas segment is engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products. Its marketing business segment offers marine lubricants. The company is also a pioneer of a new lubricant technology called GTL lubricants, which is a premium lubricant produced at the Pearl GTL plant in Qatar. The company is able to maintain its position in the market through its 4 base oil manufacturing plants, 32 lubricant blending plants, 9 grease plants, and 3 GTL base oil storage hubs. It operates in more than 70 countries in the Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Shell Marine inaugurated a state-of-the-art lubricant storage/tank facility in Busan, South Korea, in June 2025. This investment enhances Shell’s marine lubricant supply infrastructure at a major global maritime hub, helping reduce delivery times (to ~48 hours), improve logistics efficiency, and better serve shipping lines and shipyards in Asia and beyond.

Exxon Mobil Corporation is one of the largest publicly traded oil & gas companies, which markets fuel and lubricants under four brands: Esso, Exxon, Mobil, and Exxon Mobil. It also owns hundreds of small subsidiaries. The company operates through four business segments, namely, energy products, upstream, chemical products, and specialty products. The company owns lubricant blending plants in 25 countries; present in almost all regions; this includes 6 base stock refineries and 21 blending plants. Exxon Mobil is one of the largest integrated refiners in the world, with almost 80% refinery and blending operations integrated directly into oil fields, which helps in maintaining a steady supply of raw materials to manufacture refined products, such as base oil for lubricants. It offers marine lubricants through its specialty products business segment. It is one of the world’s largest companies by revenue and one of the world’s biggest oil & gas companies. In April 2022, the company introduced Mobilgard 540 AC, a premium Category II marine cylinder oil formulated for advanced cleanliness in modern 2-stroke engines. The company operates in North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

The global marine lubricants market is led by the strong presence of the top five players, including BP p.l.c. (UK), Chevron Corporation (US), Exxon Mobil Corporation (US), Shell plc (UK), and TotalEnergies SE (France). These companies have large manufacturing and distribution facilities. With advanced technology strengths, effective supply chains, and long-standing relationships with OEMs, these market players promote market growth, innovations, and efficient manufacturing procedures.

Related Reports:

Marine Lubricants Market by 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

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