Bio-Based and Biodegradable Marine Lubricants Market will Report Faster Growth with EPA’s Focus on Environmentally Acceptable Lubricants (EAL)

Marine lubrication is a complex process because of the sheer numbers of machines and components that run a large ship or vessel. From rust-prevention lubricants to gear oils to hydraulic oils to engine cylinder oils to compressor oils, a myriad of marine lubricants are required. All of these products collectively constitute the global marine lubricants market – a market that is expected to stand at 2,902.3 kilo tons in 2022. According to Transparency Market Research, the global marine lubricants market is expected to grow modestly but steadily at a compounded annual growth rate of 3.63% between 2014 and 2022. 

The shipbuilding industry has not disappointed in the past few years, and this aspect has propelled the growth of the global marine lubricants market as well. All the same, the market has had to surmount several regulatory changes, such as the switchover to the use of Environmentally Acceptable Lubricants (EAL), which required several leading manufacturers to reformulate some of their best-selling marine lubricants. 

Browse Market Research Report of Marine Lubricants Market: 

http://www.transparencymarketresearch.com/marine-lubricants-market.html

What are EALs and How Will They Impact the Marine Lubricants Market?

In 2013, the United States’ Environment Protection Agency (EPA) mandated the use of environmentally acceptable lubricant (EAL) under its 2013 Vessel General Permit (VGP). This change was made applicable to all vessels – longer than 79 feet – entering U.S. waters. The website of the EPA states that “All vessels covered under the VGP must use EALs in all oil-to-sea interfaces, unless technically infeasible.”

This change proved to be a massive opportunity for companies in the marine lubricants market – it also benefited several niche companies that were struggling to make their biodegradable marine lubricants commercially successful. 

Some of the reasons why shipping giants are choosing bio-based and biodegradable marine lubricants are:

• The performance of EALs is at par – sometimes even better – than that of conventional lubricants
• The use of EALs helps ensure better compliance with numerous environmental management programs as well as ISO guidelines
• The use of bio-based and biodegradable marine lubricants is seen as a great way for large shipping corporations to establish their green credentials
• In the case of accidental leakage of biodegradable lubricants into the water, there have been certain cases where authorities have imposed lower fines

Improved Chemistry Brings With it Innovative Marine Lubrication Products

Going forward, improved chemistry is expected to help market players launch new and innovative marine lubricants in the market. Capacity additions are an equally important part of the growth strategy. Total, for instance, recently commenced operations at its new lubricants oil blending plant in Singapore. The new plant boasts an impressive capacity of 310,000 metric tons – the new plant will help Total reach out to more customers in the Asia Pacific region. Similarly, Vickers Oils, which claims to be the first company in the world to commercially market biodegradable lubricants in 2002, has expanded its product portfolio of EAL lubricants. 

Browse Press Release of Marine Lubricants Market: 

http://www.transparencymarketresearch.com/pressrelease/marine-lubricants-market.htm

The demand for marine lubricants is expected to show strong growth in the Asia Pacific region, and market participants are gearing up to meet this demand with broader product portfolios and new plant development. The efforts of market players will largely be focused on formulating safe synthetic and bio-based lubricants in the next few years.

Reformatory Issues and Rising Demand for Biobased Lubricants Changing Turkey’s Marine Lubricants Market

A steady rise in global trade, the challenging economic climate, sulfur capping regulations, new engine designs, and the rising emphasis of OEMs on cylinder lubricants to combat the costly issue of cold corrosion are the winds of change within the marine lubricants industry. These factors are impacting operations of various sectors within the shipping industry, including the varied applications of marine lubricants.

The market for marine lubricants has changed significantly in the past few years and a distinct shift is being observed in the way marine lubricants are selected these days.

Browse Market Research Report of Turkey Marine Lubricants Market: 

http://www.transparencymarketresearch.com/turkey-marine-lubricants-market.html

Historically, the process of lubricant selection involved only the choice between a lubricant with a low or a high BN (base number or alkalinity of the lubricant). However, now the choice of a marine lubricant depends on a number of technical challenges, several market-based legislations, price and engine performance issues, and the numerous sets of complex situations unique to each ship and operator. Such conditions mean that the market for marine lubricants, which was once considered a commodity market, needs to adapt to the complex and diverse requirements of its end users and improve its capability to evolve at the rate at which technical developments are being observed.

Marine Lubricants Market of Turkey: a Brief Overview

The marine lubricants market of Turkey is studied in a new research study published by Transparency Market Research. The report explores the different ways in which the marine lubricant’s market of Turkey has developed in the past few years. The report states that nearly 84.5 kilo tons of a variety of marine lubricants were consumed in Turkey in the year 2013. 

The country’s growing marine trade and shipping industry are together expected to lead to a demand rise at a CAGR of 2.30% between 2014 and 2022. As a result, the market is expected to observe demand of nearly 103 kilo tons by 2022. Revenue-wise, the market is expected to grow at a 3.48% CAGR between 2014 and 2022.

Trend of Adoption of Biobased Lubricants Gaining Impetus

Traditionally, a variety of mineral and synthetic lubricants have dominated demand from the Turkey lubricants market. A huge portion of demand from the country’s marine industry – nearly 84% – was acquired by mineral lubricants in 2013.

While marine lubricants in categories such as hydraulic oils, engine oils, grease, compressor oils turbine oils, heat transfer fluids, and gear oils remained the favorites in recent times, consumers are increasingly shifting to biobased lubricants owing to a number of regulatory pressures. The future, it seems, will be dominated by a number of biobased marine lubricants, not only due to the regulatory pressures but also due to the fact that biobased lubricants enhance product quality and ensure environment safety.

Browse Press Release of Turkey Marine Lubricants Market: 

http://www.transparencymarketresearch.com/pressrelease/turkey-marine-lubricants-market.htm

The rising marine traffic in the Turkish straits in recent times has significantly fueled the marine lubricants market in the country. Many MNCs are entering deals with local lubricant manufacturers in order to benefit from the untapped opportunities in the Turkish market. A number of these deals are contingent on the possibilities of benefiting from the rising demand for biobased lubricants.