The global marine grease market size reached USD 406.8 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 558.2 Million by 2033, exhibiting a growth rate (CAGR) of 3.4% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 406.8 Million |
Market Forecast in 2033 | USD 558.2 Million |
Market Growth Rate (2025-2033) | 3.4% |
Marine grease is a semi-solid lubricant with jelly-like consistency used for protecting marine vessels from corrosion, wear and tear and water washout by maintaining an oil film to prevent metal-to-metal contact between the cylinder liner and piston rings. It facilitates siding and rolling motion and is manufactured by blending mineral oils with asphaltic oils and soap or bio-based materials. Some commonly used marine greases include engine, hydraulic, compressors, slideways, gear, heat transfer and turbine oils. They are hydrophobic in nature and exhibit various advantageous properties, such as high viscosity index, thermal resistance and minimal rusting and oxidation. They also act as sealants to prevent water from entering the vessels. As a result, they are widely used in bulker, tanker, container and passenger ships, along with service, special purpose and offshore vessels.
Significant growth in the shipping industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, increasing international trade activities and the development of new waterways are providing a thrust to the market growth. Marine greases are widely used for maintaining the efficiency of the vessels. They offer a wider temperature range, high mechanical and thermal stability, corrosion protection and longer lubrication intervals. In line with this, the increasing requirement for high engine performance and protection is also resulting in the widespread adoption of marine cylinder oils. Additionally, various product innovations, such as the development of bio-based and environment-friendly marine lubricants, are acting as other growth-inducing factors. These novel variants are manufactured using renewable and non-bio accumulative materials with low sulfur levels. Other factors, including rising expenditure capacities of the consumers, along with the implementation of favorable government policies promoting marine trade activities, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global marine grease market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on thicker type and end use.
Breakup by Thicker Type:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BP p.l.c., Chevron Corporation, ENEOS Corporation, Gulf Oil Marine Ltd, Idemitsu Kosan Co. Ltd., Lucas Oil Products Inc, Lukoil Marine Lubricants DMCC, Penrite Oil, Royal Dutch Shell plc, TotalEnergies SE and Warren Oil Company LLC.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Segment Coverage | Thicker Type, End Use, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | BP p.l.c., Chevron Corporation, ENEOS Corporation, Gulf Oil Marine Ltd, Idemitsu Kosan Co. Ltd., Lucas Oil Products Inc, Lukoil Marine Lubricants DMCC, Penrite Oil, Royal Dutch Shell plc, TotalEnergies SE and Warren Oil Company LLC |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global marine grease market was valued at USD 406.8 Million in 2024.
We expect the global marine grease market to exhibit a CAGR of 3.4% during 2025-2033.
The introduction of environment-friendly marine lubricants that are manufactured by using renewable and non-bio accumulative materials with low sulfur levels is primarily driving the global marine grease market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for marine grease.
Based on the thicker type, the global marine grease market has been segregated into lithium complex, calcium, and others. Among these, lithium complex currently exhibits a clear dominance in the market.
Based on the end use, the global marine grease market can be bifurcated into bulk carrier and cargo ship, passenger ships, tankers, and others. Currently, bulk carrier and cargo ship holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global marine grease market include BP p.l.c., Chevron Corporation, ENEOS Corporation, Gulf Oil Marine Ltd, Idemitsu Kosan Co. Ltd., Lucas Oil Products Inc, Lukoil Marine Lubricants DMCC, Penrite Oil, Royal Dutch Shell plc, TotalEnergies SE, and Warren Oil Company LLC.