International Maritime Organization (IMO) 2020 Compliant Marine Oil Market Size, Shares, Trends, Future Demand and Revenue Analysis
Data Bridge Market Research analyses that the international maritime organization (IMO) 2020 compliant marine oil market will witness a CAGR of 8.42% for the forecast period of 2021-2028. Increasing import and export portfolios globally and increasing awareness about the environmental and health benefits of compliant marine oil are the major factors attributable to the growth of the international maritime organization (IMO) 2020 compliant marine oil market.
With effect from 1st January 2020, the international maritime organization (IMO) has announced to slash down the global marine area discharges. The aim of international maritime organization (IMO) is to diminish sulphur outflows by over 80%.
Increasing awareness about protecting the marine environment coupled with increased focus on the reduction of sulphur oxide produced by ships is the root cause fuelling up the international maritime organization (IMO) 2020 compliant marine oil market growth rate. Increased focus on decarbonisation is another factor responsible for propelling growth in the international maritime organization (IMO) 2020 compliant marine oil market value. The global aim to reduce the level of carbon dioxide levels is another international maritime organization (IMO) 2020 compliant marine oil market growth determinant.
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The major players covered in the international maritime organization (IMO) 2020 compliant marine oil market report are Exxon Mobil Corporation., Reliance Industries Limited., Shell group of companies, China Petrochemical Corporation., bp p.l.c., LUKOIL, Chevron Corporation., Total, Saudi Arabian Oil Co., Gazprom, Petróleo Brasileiro S.A., PetroChina Company Limited, Indian Oil Corporation Ltd, and Gazprom Neft PJSC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Scope of the International Maritime Organization (IMO) 2020 Compliant Marine Oil Market Report:
The international maritime organization (IMO) 2020 compliant marine oil market is segmented on the basis of types and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of types, the international maritime organization (IMO) 2020 compliant marine oil market is segmented into hydrogenation, mix and match and others.
- On the basis of applications, the international maritime organization (IMO) 2020 compliant marine oil market is segmented into oil tankers, bulk carriers, general cargo, container ships and others.
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International Maritime Organization (IMO) 2020 Compliant Marine Oil Market Regional Analysis/Insights
The International Maritime Organization (IMO) 2020 Compliant Marine Oil market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the International Maritime Organization (IMO) 2020 Compliant Marine Oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement International Maritime Organization (IMO) 2020 Compliant Marine Oil within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement International Maritime Organization (IMO) 2020 Compliant Marine Oil market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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