Growing environmental concerns, rise in sea voyages and growth of shipping industry has contributed to expansion of the marine lubricants market

The worldwide marine lubricants market was forecasted to expand from more than 2.5 million tons during year 2015 in terms of volume. It is projected to expand at a CAGR growth rate of 3.5% during the estimated period. 

Marine lubricants minimize the friction between functional mechanical parts, thus enhancing the productivity of machines, components and engines deployed on the ship. The emerging shipping sector is predicted to boost the growth of the global marine lubricants market in future. But fluctuations in costs of raw materials along with stringent ecological rules for producing synthetic marine lubricants are few of the factors predicted to hamper the growth of the worldwide marine lubricants market.

South America marine lubricants market size, by application, 2012 - 2023 (USD Million)

Technological breakthroughs, freight tax rules and continuous investments in research & development activities are the key factors stimulating the growth of the worldwide marine lubricants market since past few years. This trend is projected to persist and enhance the demand for marine lubricants during the projected span. 

Based on the product, the worldwide marine lubricants market was segmented into bio based marine lubricants, mineral oil marine lubricants and synthetic marine lubricants. 

The rising occurrence of oil spills has affected marine life. So to avoid oil spills in waters and enhance product quality along with environment security government has introduced strict rules. This has led to rise in demand for bio based marine lubricants and secured synthetic marine lubricants. 

Mineral oil marine lubricants section led the product segment of worldwide marine lubricants market during year 2013 in terms of demand. It is projected to continue its domination of the market in future. Technological innovations and growing expenditure on research activities are the key factors stimulating the development & expansion of the mineral oil marine lubricants. The demand for the section is predicted to grow during the estimated period. 

Synthetic marine lubricants section followed mineral oil marine lubricants section both in terms of growth in value and size. Growing need for high quality lube grades along with its increasing significance for particular uses are the key aspects driving the growth of the synthetic marine lubricants section.

Rising standards of carbon emissions and increasing gap between demand & supply of products has boosted the growth of bio based marine lubricants section. Bio based marine lubricants section has acquired greater acceptance in the global industry. It is predicted to expand at a significant rate during the estimated period. Further, rising environmental problems and growing consciousness about it among the end users of marine lubricants is predicted to propel the bio based marine lubricants demand. 

Depending upon the applications, the worldwide marine lubricants market was divided into compressor oil marine lubricants, gear oil lubricants, engine oil marine lubricants, grease, hydraulic oil marine lubricants, heat transfer fluids and turbine oil marine lubricants. 

Engine oil marine lubricants section dominated the application segment of the worldwide marine lubricants market during year 2013. Growing capacity of ship engines and proficiency has resulted in enhanced demand for engine oils. 

Engine oil marine lubricants are mainly divided into two types. One is marine diesel cylinder lubricants and trunk piston engine oils. 

Marine diesel cylinder lubricants are utilised in two stroke engines of big containers or cargo ships while trunk piston engine oils are utilised for lubrication of four stroke engines of coastal ships & passenger ships. 

Hydraulic oil marine lubricants section and grease section followed engine oil marine lubricants sections in its market growth. Hydraulic oil marine lubricants are projected to experience maximum expansion in future. The growing use of hydraulic oil in mechanical components of ships is projected to fuel the hydraulic oil demand during the estimated span. 

Based on the geographical location, the worldwide marine lubricants market was segmented into four geographical regions, namely, North American subcontinent, European continent, APAC zone and region of the rest of the world.

APAC zone led the worldwide marine lubricants market during year 2013 in terms of size. This growth was attributed to heavy demand of marine lubricants in developing nations like Japan, China, Singapore and South Korea. The demand for marine lubricants is predicted to grow in Asia Pacific zone owing to various factors like low shipbuilding charges & improved domestic use in country like China. 

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Asia Pacific zone is predicted to experience biggest rate of growth during the forecasted period. The growth can be attributed to the several micro & macro economic factors like financial incentives, tax reforms, tax benefits and favourable government policies encouraging many industry players to shift their production units to the highly developing nations like India and China. Further, emission standards in APAC zone are liberal as compared to those in US and Europe. This key aspect also has played a main part in driving the growth of the marine lubricants market in APAC zone. 

European continent led the worldwide marine lubricants market during year 2011. The growth of the market in Europe can be attributed to factors like favourable government rules, high level of end user & customer awareness about the product and growing amount of investments for marine lubricants along with increase in amount of seaborne business in Europe. Enhanced economic condition is predicted to have a favourable impact on the growth of the marine lubricants market in Europe in future. 

The worldwide marine lubricants market displays the features of oligopolistic market. Key industry players compete with each other for acquiring maximum market share and profits. These industry players implement successful business strategies and invest heavily in R& D activities to expand their business. The industry has experienced many mergers & acquisitions and joint ventures in recent years. 

Today, the worldwide marine lubricants market is led by key industry players who have made substantial contributions towards the growth & expansion of the marine lubricants sector.
The key industry players include:

• Lubmarine

• ExxonMobil Corporation 

• Gan & Lee Pharmaceutical

• Royal Dutch Shell PLC

• Gulf Marine And Industrial Supplies Incorporation 

• Mars Petrochem Private Limited 

• IKO Marine Lubricant Supply Company Limited 

• Chevron Corporation 

• QUEPET Lubricants

• Sinopec Corporation Limited 

• BP Marine

• Castrol

• Pentagon Lubricants Private Limited

• LUKOIL Marine Lubricants Group 

• JX Nippon Oil & Engine Corporation

• Gulf Oil Corporation Limited 

• Idemitsu Kosan Company Limited

Growing demand for corrosion inhibitors by various industrial sectors like medicine, chemicals & electronics are predicted to drive the growth of the corrosion inhibitors market

The worldwide corrosion inhibitors market is predicted to expand from 5100 kilo tons in year 2015 at a CAGR growth rate of greater than 4% till end of year 2023 in terms of output. The global industry is forecasted to cross 8800 million US dollars by end of year 2023 in terms of revenue.

Growing use of the corrosion inhibitors in water treatment, refining and energy production are predicted to promote the demand and growth of the worldwide corrosion inhibitors market. Further, increasing application of corrosion inhibitors for different iron & steel devices that are basically utilized in mining & construction sector is anticipated to contribute towards the demand & expansion of the worldwide industry. Technological breakthroughs and continuous product innovation resulting in growing application of green inhibitors and nanotechnology in corrosion inhibitors is predicted to generate new avenues for the market growth in future.

MEA corrosion inhibitors market size, by end-use, (USD Million) 2012-2023

But many ecological issues related with raw substances utilized in corrosion inhibitors can hinder the growth & expansion of the worldwide corrosion inhibitors market. Deadly effects of these conventional inhibitors on marine life, human beings and plants along with problems regarding its disposal can also inhibit the development & expansion of the industry in future.

Based on the product, the worldwide corrosion inhibitors market is bifurcated into inorganic inhibitors and organic inhibitors.

Organic inhibitors section was the biggest product section contributing largest share to the total share of the worldwide corrosion inhibitors market during year 2015. The growth of this section can be attributed to the nonexistence of metals in organic inhibitors leading to prevention of unnecessary reactions. Further, growing application of organic inhibitors in construction segment and oil & gas segment is predicted to stimulate the demand for organic inhibitors. This section is predicted to be rapidly evolving section during the estimated span owing to increasing choice of customers.

Growing use of inorganic inhibitors in water treatment application due to its enhanced functions over array of temperatures and  different levels of pH will propel the demand of this product section during the estimated span. Implementation of environment friendly rules on inorganic inhibitors in countries like UK, USA and Germany are predicted to boost the sale and demand of these inhibitors in future.

Depending upon the applications, the worldwide corrosion inhibitors market is divided into solvent based corrosion inhibitor and water based corrosion inhibitor.

Water based corrosion inhibitor section led the worldwide corrosion inhibitors market during years 2012 and 2015. Growing consciousness about the adverse impacts of volatile organic compounds emissions on human beings along with negligible VOC emissions from this section is predicted to stimulate the demand & growth of the section in future.

Further, the rising demand for the application in high temperature applications like oil extraction and refining is predicted to be yet another aspect adding towards the growth of the global industry. Also these inhibitors are inexpensive, become transparent after drying and are applied by using different procedures like immersion, brush or spray. All these factors drive the growth & demand of this section.

The solvent based corrosion inhibitor section is predicted to experience slow growth owing to its limited scope of application, high flammability and security risks. These inhibitors are utilised in applications requiring consistent performance over enlarged period and constant thickness of film that offers uniform security. They are utilised in electronics and automobile applications. The consistent performance of this section over a long span is predicted to stimulate its demand during estimated period.

Based on the end users, the global corrosion inhibitors market is segmented into pulp & paper, power generation, chemical processing, oil & gas and metal processing.

Power generation section led the worldwide corrosion inhibitors market during years 2012 and 2015 in terms of size. Increasing capital investments made by government on energy generation projects to fulfil the growing power requirements is predicted to stimulate the demand. In addition to this, energy production by using renewable energy sources like hydro power, wind energy and solar energy is predicted to act as a main aspect for market growth.

Oil & gas section was the second biggest end user section of global corrosion inhibitors market during year 2012. It is predicted to be the rapidly expanding section owing to growing demand of product in oil & gas pipelines helping in minimizing losses occurring at the time of refinement procedures. Further, the existence of tremendous proportion of shale gas reserves in USA that can be recovered technically is predicted to fuel the growth of the industry during the estimated span. In addition this, increase in industrial events all across the emerging nations as well as developed nations is projected to stimulate the demand & growth of the oil & gas section. This in turn is forecasted to enhance the development of corrosion inhibitors market worldwide.

Depending upon the geographical locations, the worldwide corrosion inhibitors market is segmented into four geographical regions, namely, North American subcontinent, Europe, APAC zone and region of the rest of world.

The APAC zone contributed to biggest share to the total share of the worldwide corrosion inhibitors market in demand terms during year 2012. This zone also contributed highest share to the total share of global industry in terms of revenue during year 2015. Rapid industrial development, growth in construction sector and growing consciousness about the negative effects of corrosion are few of the factors contributing to the demand & growth of corrosion inhibitors market in APAC zone.

APAC zone is predicted to experience substantial growth due to urban & industrial growth in India and China. Further, product improvement and rising steel production along with expansion of oil& gas segment in countries like Australia, India and China of Asia Pacific zone will stimulate the demand for product in future. Also, growing expenditure on construction activities along with fast economic growth in countries like South Korea, China, Thailand, India and Indonesia is estimated to develop enormous market potential during the forecasted span.

Europe and North American subcontinent combined contributed towards more than half of the total share of the worldwide corrosion inhibitors market during year 2012.

The European continent was the second biggest market for corrosion inhibitors. Increase in power generation in countries like UK and Germany and rise in proportion of nuclear plants in countries like Sweden, UK and Poland are expected to open new market growth avenues for corrosion inhibitors in Europe in future. But strict environmental rules on discharging of toxic wastes in the chemical form can hinder the growth of corrosion inhibitors market during the forecasted period.

Further, industrial growth in the nations like South Africa and Brazil has resulted in increase of construction events. This is predicted to add towards substantial growth of worldwide corrosion inhibitors market during forecasted period.

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The worldwide corrosion inhibitors market features new product development and constant research & development by key industry participants to enhance the performance of their product offerings.

The key industry participants involved in this business and contributing towards the growth of the global corrosion inhibitors market are as follows:

• Nalco Company

• Ecolab Incorporation

• Cortec Corporation

• BASF Corporation/SE

• GE Water & Process Technologies

• Ashland Incorporation

• DuPont

• Milacron- Cimcool

• Kurita Water Industries Limited

• Henkel AG & Corporation/Company

• Renewable Lubricants Incorporation

• AkzoNobel N.V.

• Dow Chemical Company

• Champion Technology Services/Incorporation

• Cytec Industries Incorporation

• The Lubrizol Corporation

• United Corrosion Technologies

• NOF Metal Coating Group

• Anticorrosion Protective Systems LLC

• Air Products and Chemicals Incorporation

• Chemtreat Incorporation

• Dai Ichi Karkaria Limited

• Daubert Cromwell LLC

• Halox Incorporation

• QED Chemicals Limited

• Shawcor Limited

• Insituform Technologies Incorporation

• Kemira OYJ

• Mersen SA

• Rhodia

• Northern Technologies International Corporation NTIC

• Solutia Incorporation

• Dorf Ketal

• W.R. Grace & Corporation

• Marott Graphic Services

Automotive coatings market is anticipated to make significant growth owing to growing customer preference for coatings and rising automobile production during the forecasted period

The worldwide automotive coatings market was evaluated at more than 3.7 million tons during year 2014 in terms of volume. It is projected to cross 5.5 million tons by end of year 2022 with CAGR growth rate of more than 4.8%.

The global automotive coatings market is anticipated to grow at a healthy rate during the anticipated span due to growing competition among market participants, rising demand for automobiles, favourable government policies, growth of transportation infrastructure and rapid financial development. Current product growth and growing investments in research & development is predicted to enhance the demand for automotive coatings in future. But fluctuations in costs of raw materials and hazardous ecological effect of traditional solvent borne coatings can hamper the growth & expansion of the worldwide automotive coatings market.

The worldwide automotive coatings market is projected to experience substantial growth owing to growing customer preference as automotive coatings boosts strength and vehicle look. Automotive coatings also protect vehicles from ultra violet radiation, heat, foreign particles and acid rain.

Germany automotive coatings market Size, by technology, 2012-2022 (Kilo Tons)

Growing automobile manufacture in various countries like Indonesia, China, USA, Mexico, Japan, Germany, India and South Korea along with the maturing of automobiles in these regions is a key factor driving the growth of the global automotive coatings market. Growing demand for environment friendly coatings like powder coatings, waterborne coatings and ultra violet cured coatings in developing countries like Brazil and China is predicted to fuel the growth & expansion of worldwide automotive coatings market. Further, fast economic development, growing government expenditure, innovations & breakthroughs in road infrastructure along with growing customer inclination towards personal conveyance are the factors projected to fuel the growth of global industry.

Based on application, the worldwide automotive coatings market is divided into metal coatings and plastic coatings. 

Metal coatings section was the biggest application section. It is predicted to experience substantial expansion during the estimated span owing to growing automobile production in countries like USA, Mexico and China. 

Plastic coatings section is predicted to observe rapid growth in future owing to enhanced use of plastic parts in car production due to its lightweight property, rust resisting feature, design flexibility, cost efficacy, strength and reuse. Further, growing use of plastics in external applications like windows, doors, headlight and bumpers is projected to propel its demand during the estimated span.

Depending on technology, it is segmented into powder coating, waterborne coating and solvent borne coating. 

Solvent borne coating section led the worldwide automotive coatings market in revenue terms past few years. 

Waterborne coating section is predicted to experience fast growth owing to its properties of exceptional adhesion, abrasion and temperature resistance.

Powder coatings are eco friendly and are anticipated to experience rapid growth due to its unique features like high corrosion resistance, chipping, high quality finish and abrasion along with protection from moisture, heat and chemicals. Further, these power coatings emit small proportion of volatile organic compounds. 

Based on the product type, the industry is segmented into clear coat, primer, basecoat and electro coat.

The basecoat section was the biggest product section and is anticipated to experience significant expansion during the estimated span. The reason for expansion of the basecoat section is that basecoat offers decorative effects, color effects and outer aesthetics to automobiles. 

Electro coat section is projected to promote the growth of the worldwide automotive coatings market as it possesses the anti corrosive and anti rusting properties. 

Demand & growth of clear coat section is predicted to grow as it provides protection against ultra violet rays as well as heat rays of sun. 

Based on end user, the worldwide automotive coatings market is divided into light weight original equipment manufacturer and automotive refinish.

Light vehicle original equipment manufacturer section was the biggest end user section of the global automotive coatings market during year 2014. It is predicted to experience significant expansion during the estimated span owing to high standards of living of the people in India, US and China. Further rising demand for cars in these countries due to growing new features like GPS tracking, high beam controls, pre collision techniques, automatic lights and multi direction cameras are the factors that can contribute to the expansion of the section during forecasted span. 

Automotive refinish section is predicted to experience fast growth in future due to growing customer purchasing power in developing regions of Asia Pacific zone like Thailand, China and India along with automobile aging. Further, growing demand for used automobiles is further anticipated to promote the growth of the section. Growing amount of accidents in region of Latin America and Middle East & Africa are predicted to boost growth of the worldwide automotive coatings market during the projected period/span. 

Based on geographical locations, the worldwide automotive coatings market is divided into five geographical regions, North American subcontinent, European continent, APAC zone, Latin America and region of Middle East & Africa. 

Asia-Pacific zone was the leading automotive coatings market during year 2014. It is also a leading market and projected to lead automotive coatings market in future due to growing demand & manufacture of automobiles along with growing amount of joint ventures between key market & regional players in the zone. In addition to this, fast economic development in countries like Japan, China, Indonesia, India, Thailand and South Korea is also predicted to contribute towards the growth of the automotive coatings sector in APAC zone. 

China is predicted to stimulate the demand for automotive coatings owing to factors like increase in regional automobile producers in the region, growing automobile demand and rise in transportation infrastructure section. Further, growing insurance section and supportive government legislations is further predicted to stimulate the demand & growth of the automotive coatings market in APAC zone. Also presence of large & established industry players in India is predicted to stimulate the growth of the automotive coatings industry in Asia Pacific zone. 

The European continent is today the second biggest automotive coatings market after APAC zone. The North American subcontinent is projected to surge ahead of Europe in future due to substantial increase in automobiles production.

Strict environmental rules in Europe and North America are predicted to stimulate the demand for waterborne coatings section and powder coatings section. This is further anticipated to increase the growth of the automotive coatings market in these regions during anticipated period.

Favourable monetary policies and political stability in region of Latin America has driven automotive coatings producers to make investments in the region. This is predicted to fuel the growth of the automotive coatings market during the estimated span.

The region of Middle East & Africa is predicted to boost the growth of the automotive coatings market in the region owing growing manufacturing bases and expanding powder coating segment in the region. 

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The worldwide automotive coatings market is very competitive with key industry players competing against each other in order to gain competitive edge and acquire maximum market share and earn huge return on investments. Also these key market participants are involved in research & development activities and continuous product innovation. 

The key market players involved in the automotive coatings business and contributing towards the growth of the worldwide automotive coatings market are as follows:

• PPG Industries Incorporation 

• AkzoNobel N.V.

• KCC Paint/Corporation 

• Beckers Group

• Axalta Coating Systems LLC

• BASF SE 

• Lord Corporation

• Valspar Corporation

• Berger Paints

• DSM

• Eastman Chemical Company

• Kansai Paint

• Bayer AG

• Jotun A/S

• Nippon Paint Holdings Company Limited 

• Sherwin-Williams Company

• Arkema SA

• Clariant AG

• Cabot Corporation

• Solvay SA