Sep 1, 2017   SOURCE: PR NewsWire

Global Offshore Lubricants Market - Analysis, Technologies & Forecasts to 2021 - Key Vendors are BP, Chevron, ExxonMobil, Shell & Total

DUBLIN, September 1, 2017 /PRNewswire/ --

The "Global Offshore Lubricants Market 2017-2021" report has been added to Research and Markets' offering.

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The global offshore lubricants market is forecast to grow at a CAGR of 3.86% during the period 2017-2021.

The report, Global Offshore Lubricants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is growth of bio-based lubricants. The use of environment-friendly lubricants such as bio-based lubricants helps in reducing VOCs and toxicity of gases. This helps in maintaining the environmental balance. In developed countries, such as Canada, the US, and Germany, bio-based offshore lubricants are preferred, which are environment-friendly.

According to the report, one driver in the market is increase in offshore exploration and production investments. The increase in demand for energy and the depletion of onshore reserves have made oil and gas companies invest significantly in offshore oil and gas reserves. The growth of drilling activities and the rise in the demand from offshore rigs and FPSO are likely to foster the demand for offshore lubricants. Between 2010 and 2015, the global offshore oil production was at the highest level in 2015 and accounted for around 30% of the global oil production. In 2015, the offshore oil production was recorded at more than 27 million barrels in more than 50 countries.

Further, the report states that one challenge in the market is fluctuation in crude oil prices. Offshore lubricants are mainly manufactured from crude oil by the process of fractioning. Mineral oil-based lubricants accounted for more than 70% share of the global offshore lubricants market. The oil and gas industry is one of the major suppliers of raw materials for the global offshore lubricants market. The fluctuations in the prices of crude oil have severe effects on the prices of the raw materials. Thus, they affect the costs of offshore lubricants as well. In 2016, the price of crude oil per barrel decreased at a rate of nearly 60% as compared to the previous year.

Key vendors

    --  BP
    --  Chevron
    --  ExxonMobil
    --  Shell
    --  Total

Other prominent vendors

    --  Idemitsu Kosan
    --  JX Nippon Oil & Energy
    --  Klber Lubrication

    --  Others

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Application

Part 07: Market Segmentation By End-User

Part 08: Geographical Segmentation

Part 09: Decision Framework

Part 10: Drivers And Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Key Vendor Analysis

Part 14: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/72w8sw/global_offshore

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SOURCE Research and Markets