Thursday, November 3, 2022

Beverage Cartons Market 2021 (COVID-19 UPDATE) Future Challenges, Growth Statistics and Forecast to 2028 | Asia-Pacific to Remain Dominant; Increasing Consumption of Beverages to Aid Growth

 The global beverage cartons market size is expected to gain traction by reaching USD 22.44 billion by 2028. Fortune Business Insights, in its report titled “Beverage Cartons Market, 2021-2028.”, mentions that the market stood at USD 16.51 billion in 2020 and is projected to exhibit a CAGR of 4.2% between 2021 and 2028. The growing demand for convenient packaging solutions owing to rising environmental concerns will propel the demand for the product worldwide. Moreover, the increasing adoption of advanced technologies such as artificial intelligence (AI), RFID, and others is anticipated to lead to a paradigm shift in packaging trends.



The effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

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List of the Companies Operating in the Global Market:

  • Tetra Pak (Switzerland)
  • Elopak (Norway)
  • Sig Combibloc Group Ltd. (Switzerland)a
  • Mondi Group (UK)
  • Westrock Company (U.S.)
  • Visy (Australia)
  • Stora Enso (Finland)
  • Pactiv Evergreen (U.S.)
  • IPI S.r.l. (Italy)
  • Greatview Aseptic Packaging Co. Ltd. (China)
  • Other Key Players

Market Segmentation:

Based on type, this market is bifurcated into refrigerated cartons and shelf-stable cartons. On the basis of application, the market is segmented into fruit & vegetable juices, dairy products, and others. Finally, on the basis of region, the market is classified into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

Dairy Products Segment Held Market Share of 67.5% in 2020; High Demand to Propel Product Adoption

On the basis of application, the dairy segment is expected to experience considerable growth backed by the increasing demand for dairy products due to their high nutritional content and longer shelf life. The segment held a market share of about 67.5% in terms of revenue in 2020.

What does the Report Provide?

The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PESTEL and PORTER’s Five Point Analysis to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.

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DRIVING FACTORS

Increasing Focus on Sustainable Packaging Solutions to Spur Demand

The COVID-19 pandemic has led to a paradigm shift in the preference of consumers regarding the packaging of products. Consumers are more focused on their well-being and health that is likely to impact their purchase decision. This has led to the increasing demand for sustainable packaging solutions. The companies in the market are more focused on providing tamper-proof and easy-to-carry packaging solutions. Besides, the incorporation of advanced technologies such as AI, artificial neural networking, and machine learning to assemble better products, keep track of the supply chain, and assist in consumer data generation will positively impact the adoption of the product. These factors are expected to boost the global beverage cartons market growth during the forecast period.

REGIONAL INSIGHTS

Asia-Pacific to Remain Dominant; Increasing Consumption of Beverages to Aid Growth

Among all the regions, Asia-Pacific is expected to hold the largest global beverage cartons market share in terms of revenue during the forecast period. The region stood at USD 5.70 billion in 2020. Factors such as the increasing consumption of healthy beverages and the improved standard of living of people in countries such as India, China, Malaysia, and others will propel the product’s demand in the region.

The market in Europe is expected to experience exponential growth owing to the high demand for functional ready-to-drink (RTD) beverages. Moreover, the increasing focus on developing novel tastes and innovative drinks is anticipated to boost the adoption of innovative beverage cartons in the region between 2021 and 2028.

COMPETITIVE LANDSCAPE

Facility Expansion by Prominent Companies to Amplify Their Market Positions

The market is experiencing fierce competition amongst the players operating in it. These players are focusing on proactive strategies such as facility expansion to ensure a wider horizon to market their innovative beverage cartons portfolio in the forthcoming years. Besides, other key players are focusing on collaborations and partnerships to maintain their presence that will favor the growth of the market in the forthcoming years.

Industry Development:

  • April 2021: SIG Combibloc announced an investment of about USD 45 million to construct a new plant in Queretaro, Mexico. The expansion of the plant is anticipated to boost the company's position in Mexico and other North American parts.

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Wednesday, November 2, 2022

Japan Green Building Materials Market research also assesses the market’s size in terms of revenue during the predicted period

 In a recently published report by Fortune Business Insights™, titled, "Japan Green Building Materials Market Report 2022", the analysts have provided an in-depth overview of the Japan Green Building Materials Market. The report is an all-inclusive research study of the Japan Green Building Materials market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Green Building Materials Market Report:

Companies covered in the Japan Green Building Materials market are PPG Industries, DuPont, Forbo International SA, Interface Inc., Kingspan Group plc, Lafarge, BASF SE, Owens Corning, National Fiber, RedBuilt, LLC, CertainTeed Corporation, Binderholz GmbH, Bauder Limited, Alumasc Group and more players profiled

Most Important Features in this Report:

1. Detailed market study of the Japan Green Building Materials market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Green Building Materials Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Green Building Materials Market:

The Japan Green Building Materials research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Green Building Materials Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Green Building Materials Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Green Building Materials Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Green Building Materials Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Pharmaceutical Packaging Industry Size, Share, Analysis, Industry Report and Forecast 2019-2027 | Rising Prevalence of Multiple Chronic Conditions to Augment Market Growth

 The global pharmaceutical packaging market size is projected to reach USD 142.59 billion by 2027, exhibiting a CAGR of 6.0% during the forecast period. Steady growth in the number of older people in the world will bode well for this market, finds Fortune Business Insights™Estimates released by the Population Division of the UN Department of Economic and Social Affairs (DESA) indicate that the number of persons at or above 60-years of age will reach 2.1 billion by 2050. Moreover, by the end of this decade itself older persons will outnumber children under the age of 10. Pharmaceutical packaging products are likely to experience high demand in this scenario as the uptake of drugs and their delivery mechanisms will inevitably spike as larger number of people get older at a faster rate. Moreover, novel packaging solutions such as prefilled inhalers and syringes can enable older persons to self-administer the drugs, eliminating the need to visit a hospital or clinic.

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Market Driver

Rising Prevalence of Multiple Chronic Conditions to Augment Market Growth

Multiple chronic conditions (MCC), as the name suggests, are essentially several lifelong disorders that befall a person simultaneously or in close frequency to one another. According to the World Economic Forum (WEF), approximately 33% of the world’s population suffers from MCC such as a combination of cardiovascular disease with stroke. Furthermore, the WEF postulates that such conditions typically entail more medications, with each new chronic condition adding 8 new prescriptions among older adults. This would mean that the demand for packaging material for pharmaceutical purposes is likely to rise as people with chronic disorders will require frequent administration or consumption of different drugs. In consequence, the pharmaceutical packaging market growth is set to get boosted during the forecast period as the risk factors associated with these conditions are also increasing in tandem.

Regional Analysis

North America to Lead the Pack; Europe to Follow Closely

With a market size of USD 26.89 billion in 2019, North America is well-poised to dominate this market share in the forthcoming years. The major reasons for the market growth in this region include high healthcare spending and robust health infrastructure along with strong support to medical research in the region. Europe, the second-largest region in this market, will be driven by the escalating demand for pharmaceutical products such as vials and syringes to contain the spread of infectious diseases, including the on-going COVID-19 pandemic. The market in Asia-Pacific is expected to enjoy lucrative opportunities owing to increasing prevalence of chronic diseases and massive investments in R&D by regional pharmaceutical companies.

Competitive Landscape

Key Players to Focus on Portfolio Diversification

The competitive landscape of the pharmaceutical packaging market is characterized by the presence of a wide array of companies, with each entity striving to carve its own identity and place in the market. To that end, many players are investing in innovation to build a strong product portfolio and deepen their foothold in the pharmaceutical industry.

Industry Developments:

  • January 2020: UK-based Origin Pharma Packaging introduced a packaging solution exclusively designed and developed for the medicinal cannabis industry. The novel solution is available in a child-resistant jar to ensure safety of children from the product. The company also aims at supporting medicinal cannabis start-ups in the country with the launch of this packaging solution.
  • July 2019: US-based Berry Global completed its takeover of the UK-domiciled plastic packaging company, RPC Group, for approximately USD 6.5 billion. The acquisition allows Berry to become one of the leading providers of superior plastic packaging solutions as well as build one of the largest plastic packaging companies in the world.

List of Players Covered in the Pharmaceutical Packaging Market Report:

  • Gaplast Gmbh (Germany)
  • CCL Industries Inc. (Canada)
  • ALPLA-Werke Alwin Lehner GmbH & Co KG (Austria)
  • SABIC (Saudi Arabia)
  • NIPRO (Japan)
  • AptarGroup, Inc. (US)
  • West Pharmaceutical Services, Inc. (US)
  • Schott AG (Germany)
  • Nelipak Healthcare (Canada)
  • Gerresheimer AG (Germany)
  • Frank Noe Egypt Ltd (Egypt)
  • Constantia Flexibles (Austria)
  • Lonza Group AG (Switzerland)
  • Carcano Antonio S.p.A. (Italy)
  • Berry Global, Inc. (US)
  • WestRock (US)
  • Becton Dickinson & Company (US)
  • Pharma Packaging Solutions (US)
  • Origin Pharma Packaging (UK)
  • Amcor Plc (Switzerland)

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Tuesday, November 1, 2022

Japan Steel Cord Market Competitive Landscape Key Players’ Strategies and Product Portfolio

 In a recently published report by Fortune Business Insights™, titled, "Japan Steel Cord Market Report 2022", the analysts have provided an in-depth overview of the Japan Steel Cord Market. The report is an all-inclusive research study of the Japan Steel Cord market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Steel Cord Market Report:

Companies covered in the Japan Steel Cord Market are Sumitomo Electric Industries, Ltd., Bekaert Tata Wiron, ArcelorMittal Rongcheng Japan Steel Cord Co. Ltd., Jiangsu Xingda Steel Tyre Cord Co., Ltd., Hyosung, Henan Hengxing Science & Technology Co., Ltd. Bekaert, ContiTech ΙΜΑΣ Α.Ε., TOKUSEN KOGYO Co.,ltd.,  Forech India Private Limited, Henan Hengxing Sciecnce & Technology Co., Ltd., Rajdeep Metals, and Saarstahl.

Most Important Features in this Report:

1. Detailed market study of the Japan Steel Cord market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Steel Cord Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Steel Cord Market:

The Japan Steel Cord research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Steel Cord Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Steel Cord Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Steel Cord Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Steel Cord Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Airless Packaging Market Key Players, Regions, Company Profile, Growth Opportunity And Challenges (2022-2029)

 The Global Airless Packaging Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the Airless Packaging Market. With qualitative and quantitative analysis, we help you with thorough and comprehensive research on the Global Vinyl Flooring market. We have also focused on SWOT, PESTLE, and Porter’s Five Forces analyses of the Global Airless Packaging Market.

Airless Packaging Market report also offers information on the factors impeding the market growth which shall offer valuable data to vendors for strategic planning. It is crucial to understand these factors as they help in identifying market growth opportunities. Moreover, market research analysts at Fortune Business Insights offer timely assistance in understanding eccentric market parameters in a better way. 

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List of key players in the global Airless Packaging Market  include:

Key Companies Covered are Companies covered in the Airless Packaging Market are AptarGroup, Inc., Silgan Holdings Inc., Quadpack, ALBEA S.A., HCP Packaging more players profiled.

Worldwide Airless Packaging Market Scope:

The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative analysis of the market including PEST analysis, SWOT analysis, and Porter’s five force analysis. Global Airless Packaging Market report focuses on major six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Understanding Report Segmentation: 

The Airless Packaging Market report covers specific market segments based on manufacturers, regions, types, and applications. The Airless Packaging Market report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic, and governing factors in the market. The Airless Packaging Market report will facilitate business owners to comprehend the current trend of the market and make profitable decisions.

Regional Analysis

The Airless Packaging Market research report includes profiles of leading industry players from various regions. However, when studying the market and estimating its size, the report took into account all market leaders, followers, and new entries, as well as investors. Increasing R&D activity in each region differs, with an emphasis on the regional impact on treatment costs and advanced technology availability.

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What to Expect in Our Report?

(1) A complete section of the Global Airless Packaging Market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.

(2) Another broad section of the research study is reserved for regional analysis of the Global Airless Packaging Market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Airless Packaging Market.

For Prepare TOC Our Analyst deep Researched the Following Things:

Global Growth Trends: This section focuses on industry trends where market drivers and top market trends. It also provides growth rates of key producers operating in the Carbon Felt and Graphite Felt Market  Market. Furthermore, it offers production and capacity analysis where marketing pricing trends, capacity, production, and production value of the Airless Packaging Market are discussed.

Market Size by Type: This section concentrates on product type segments where production value market share, price, and production market share by product type are discussed.

Value Chain and Sales Analysis: It deeply analyzes customers, distributors, sales channels, and the value chain of the Airless Packaging Market

Competitive Outlook

The purpose of this study is to provide stakeholders in the industry with a complete insight of the Airless Packaging Market. The study includes an analysis of complicated data in simple language, as well as the industry’s past and current state, as well as anticipated market size and trends. The report examines all areas of the industry, with a focus on significant companies such as market leaders.

Research Methodology

The Airless Packaging Market outlook has been assessed using both primary as well as secondary research techniques. This report is based on in-depth qualitative and quantitative analyses that help us validate the exact Airless Packaging Market value. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The report also offers the size of Airless Packaging Market forecast from 2022 to 2029.

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Monday, October 31, 2022

Japan Chlorine Market Showing Promising Growth a Neutral Perspective on the Performance

 In a recently published report by Fortune Business Insights™, titled, "Japan Chlorine Market Report 2022", the analysts have provided an in-depth overview of the Japan Chlorine Market. The report is an all-inclusive research study of the Japan Chlorine market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Chlorine Market Report:

Companies covered in the Japan Chlorine Market are & regional players operating. Some of the key players in the market include Nouryon, BASF, Ercros S.A., Tata Chemicals, OLIN Corporation, Formosa Plastic Corporation, INEOS, and others.

Most Important Features in this Report:

1. Detailed market study of the Japan Chlorine market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Chlorine Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Chlorine Market:

The Japan Chlorine research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Chlorine Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Chlorine Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Chlorine Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Chlorine Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Fortune Business Insights™ Pvt. Ltd.

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Marine Lubricants Market Share, Size, Expected Growth Opportunities and Forecast by 2027 | Know the Russia Ukraine Impact On Marine Lubricants Industry in Japan

The global marine lubricants business  is anticipated to reach USD 9.47 billion by 2026 owing to the increasing need to protect engines from corrosion. This information is provided by a published report by Fortune Business Insights™. The title of the report is, “Marine Lubricants Market Size, Share & Industry Analysis, By Product (Marine Cylinder Oil, Piston Engine Oil, System Oil, and Others; By Ship Type (Bulk Carrier, Oil Tankers, General Cargo, Container Ships, Others), and Regional Forecast, 2019-2026.” As per this report, the market value was USD 8.01 billion in 2018 and will rise at a CAGR of 2.13% during the forecast period, 2019 to 2026.

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Russia-Ukraine War Implication

The Russia-Ukraine war could change the Marine Lubricants Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Marine Lubricants Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.

Drivers –

Rising Focus on Enhancing the Operability of Ship Engines will Drive Market

The rise in fuel prices has propelled shipping companies to operate engines at maximum levels by slow steaming and save fuel. However, marine engines are incapable of operating at reduced rates continuously and this raises the possibility of corrosion in the engine and its associated strained components. For ensuring proper and safe functioning of engines, marine lubricants are a necessity. The above factor stands as a major driver for the marine lubricants market growth. Additionally, the rise in trade relations between nations and the expansion of e-commerce overseas are also helping the market gain impetus.

Furthermore, analysts at Fortune Business Insights™ say “Focus on keeping machines and marine vessels free from corrosion will help the market gain traction in the forecast period. This, coupled with the advent of bio-based lubricants in the market, will create lucrative growth opportunities for the market in the long run.”

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Regional Analysis –

Increasing Trade Relations between Developing Nations to Help Asia Pacific Continue Dominance in Market

Asia Pacific holds the majority portion of the marine lubricants market share on account of the presence of large ship fleet companies in the region. These include China Shipping Container Lines, China Ocean Shipping Company, Mitsui O.S.K. Lines, among others. As per the report by The United Nations Conference on Trade and Development (UNCTAD), around 50% of the ships across the world are owned by Asia Pacific Nations. Additionally, the presence of dry docks in this region is high and this also adds to the regional market growth. Furthermore, increasing trade relations between emerging nations such as Taiwan, China, and India, coupled with the rise in the number of naval vessels, will help augment the regional market in the forecast period.

On the other side, the market in North America held a single-digit share earning revenue of USD 3.41 Billion in 2018. This was due to the presence of a few ship owners in the region. However, with a steady increase in trade, this region will witness moderate growth in the foreseeable future.

Competitive Landscape –

Companies Engage in Contracts and Agreements to Stay Ahead of Competition

An estimate of 85% and more of marine lubricants worldwide are sold through supply agreements and contracts instead of being sold at stock price rates. Therefore, to strengthen their network across different ports for worldwide supply, manufacturers are emphasizing on entering into long-term contracts and agreements with shipping companies. For instance, a framework agreement was signed between CCCC Dredging (Group) Co. Ltd. and Shell for supplying marine lubricants and technical services via 700 ports and more in 61 nations across the globe.

Notable Marine Lube Market Manufacturers:

  • BP p.l.c.
  • SINOPEC
  • Repsol S.A.
  • The PJSC Lukoil Oil Company
  • Eni oil Products
  • Exxon Mobil Corporation
  • Croda International Plc
  • AvinOil S.A.
  • Total SA
  • CEPSA
  • Royal Dutch Shell Plc
  • Gazprom Neft PJSC
  • Chevron Corporation
  • Others

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