Global IMO 2020 Compliant Marine Oil Market Analysis to 2029 - Opportunities for ULSFO Compliant Marine Oil in Asia-Pacific & North America

DUBLIN, Jan. 14, 2020 /PRNewswire/ -- The "Global IMO 2020 Compliant Marine Oil Market: Focus on Type (ULSFO and VLSFO), Application, Comparative Analysis and Country-Level Analysis - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.

The global IMO 2020 compliant marine oil industry analysis projects the market to grow at a significant CAGR of 8.42% on the basis of value during the forecast period from 2019 to 2029.

The IMO 2020 compliant marine oil market is further segmented on the basis of type, application, and region. Detailed description about the MARPOL regulation and alternatives to comply with the rule are also analyzed in the study. The ultra-low sulfur fuel oil segment dominated the global IMO 2020 compliant marine oil market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2029).

While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes different applications that include oil tankers, bulk carriers, general cargo, container ships, and others. In the type segment, the market is segmented into ultra-low sulfur fuel oil and very-low sulfur fuel oil.

The IMO 2020 compliant marine oil market is segregated by region into four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is provided in the study.

Market Insights

Asia-Pacific dominated the global IMO 2020 compliant marine oil market with a share of 48.14% in 2019. Asia-Pacific, including the major countries, such as Singapore and China, is the most prominent region for the IMO 2020 compliant marine oil market. In North America, the U.S. acquired a major market share in 2019 due to the major part of country being in emission-control areas, utilizing the compliant fuel oil.

The global IMO 2020 compliant marine oil market has gained widespread importance since it has the potential to bring about positive changes in the marine environment with the reduction of sulphur oxide produced by ships and act as a long-term fuel alternative in the decarbonization of international shipping. However, high operating cost of IMO 2020 compliant marine oil and growing preference for alternatives are some of the factors that are restraining the market growth.

Expert Quote

The maritime shipping industry is facing challenges with regard to cutting greenhouse gases and engine exhaust emissions from their ships. The IMO 2020 rule is expected to bring in significant benefits for the environment and human health. However, the change in sulfur limits is expected to have wide-ranging impact for the global shipping and refining industries.

Key Companies in the Industry

The key market players in the global IMO 2020 compliant marine oil market include BP p.l.c., Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, China Petrochemical Corporation, Petrobras, PetroChina Company Limited, Indian Oil Corporation Ltd, Total, and Gazpromneft Marine Bunker Ltd.

Key Questions Answered in This Report

• What are the trends in the global IMO 2020 compliant marine oil market across different regions?
• For a new company looking to enter into the market, which areas could it focus upon to stay ahead of the competition?
• How do the existing market players function to improve their market positioning?
• How does the supply chain function in the global IMO 2020 compliant marine oil market?
• What are the major challenges inhibiting the growth of the global IMO 2020 compliant marine oil market?
• Which type of marine oil is expected to witness the maximum demand growth in the global IMO 2020 compliant marine oil market during 2019-2029?
• Which are the key application areas for which different IMO 2020 compliant marine oil experienced high demand in 2018, and which application areas should be targeted by the manufacturers of different types of marine oil during the forecast period, 2019-2029?
• How should the strategies adopted by market players vary for different segments based on the size of companies involved in each segment?
• What are the key offerings of the prominent companies in the market for IMO 2020 compliant marine oil? Which regions and countries are leading in terms of consumption of IMO 2020 compliant marine oil, and which of them are expected to witness high demand growth through the period 2019-2029?
• Which are the consumption patterns of IMO 2020 compliant marine oil across application areas in different regions and countries during the period 2019-2029?

Key Topics Covered

Executive Summary

1 Market Dynamics
1.1 Market Drivers
1.1.1 Growing Concern for Desulfurization in the Maritime Transportation Industry
1.1.2 Increasing Hydrocarbon Resource Activities in Offshore Areas
1.1.3 Environmental Regulations on Sulfur Emission
1.2 Market Restraints
1.2.1 High Operating Cost of Compliant Fuels
1.2.2 Growing Preference for Alternative Fuel in Marine Industry
1.3 Market Opportunities
1.3.1 Opportunities for ULSFO Compliant Marine Oil in the Asia-Pacific and North America Region
1.4 Market Challenges
1.4.1 Microbial Contamination in Compliant Fuels

2 Competitive Landscape
2.1 Key Market Development and Strategies
2.1.1 Product Launches
2.1.2 Business Expansions
2.1.3 Partnerships, Collaborations, and Joint Ventures

3 Industry Analysis
3.1 Supply Chain Analysis
3.2 Demand and Supply Analysis
3.2.1 Very Low-Sulfur Marine Fuel Oil
3.2.2 Ultra-Low Sulfur Marine Fuel Oil
3.3 Industry Attractiveness for IMO 2020 Compliant Marine Oil Market
3.3.1 Threat of New Entrants
3.3.2 Bargaining Power of Supplier
3.3.3 Bargaining Power of Buyer
3.3.4 Threat of Substitutes
3.3.5 Intensity of Competition
3.4 Opportunity Matrix Analysis
3.4.1 Opportunity Matrix Analysis (by Region)
3.5 Future Trends
3.6 Major Bunkering Ports
3.6.1 Singapore
3.6.2 Rotterdam
3.6.3 Fujairah
3.6.4 Hong Kong
3.6.5 Antwerp

4 International Convention for the Prevention of Pollution from Ships (MARPOL) Regulation
4.1 Overview
4.1.1 Impact Analysis of the Regulation Across the Supply Chain
4.1.1.1 Fuel Manufacturers
4.1.1.2 Bunker Suppliers
4.1.2 Key Focus Areas/ Pain Points
4.1.2.1 Fuel Manufacturers
4.1.2.1.1 Planned Refinery Capacity (New/Expanded)
4.1.2.1.2 Downstream Unit Investments
4.1.2.2 Bunker Suppliers
4.2 Key Considerations
4.2.1 Fuel Availability
4.2.2 Fuel Safety
4.2.3 Compliance
4.2.4 Fuel Stability and Compatibility

5 Global IMO 2020 Compliant Marine Oil Market (by Comparative Analysis), Analysis and Forecast (2019-2029)
5.1 Market Overview
5.2 Comparative Analysis of Alternatives Available
5.3 Liquefied Natural Gas (LNG)
5.4 Scrubbers
5.5 Others

6 Global IMO 2020 Compliant Marine Oil Market (by Type), Analysis and Forecast (2019-2029)
6.1 Market Overview
6.2 Distillate/Marine Gas Oil (MGO)/Ultra-low Sulfur Marine Oil (ULSFO)
6.3 Very-Low Sulfur Fuel Oil (VLSFO)

7 Global IMO 2020 Compliant Marine Oil Market (by Application), Analysis and Forecast (2018-2029)
7.1 Market Overview
7.2 Oil Tankers
7.3 Bulk Carriers
7.4 General Cargo
7.5 Container Ships
7.6 Others

8 Global IMO 2020 Compliant Marine Oil Market (by Region), Analysis and Forecast (2019-2029)
8.1 Market Overview
8.2 Asia-Pacific
8.3 North America
8.4 Europe
8.5 Rest-of-the-World

9 Company Profiles
9.1 Overview
9.2 IMO 2020 Compliant Marine Oil Manufacturers' Profile
9.2.1 List of Major Additional Fuel Manufacturers of IMO 2020 Compliant Marine Oil
9.3 BP p.l.c.
9.3.1 Company Overview
9.3.2 Role of BP p.l.c. in IMO 2020 Compliant Marine Oil Market
9.3.3 Financials
9.3.4 Strength of BP p.l.c.
9.3.5 Weakness of BP p.l.c.
9.4 Chevron Corporation
9.5 China Petrochemical Corporation
9.6 ExxonMobil Corporation
9.7 Gazpromneft Marine Bunker Ltd.
9.8 Indian Oil Corporation Ltd
9.9 PetroChina Company Limited
9.10 Petrobras
9.11 Royal Dutch Shell p.l.c.
9.12 Total
9.13 IMO 2020 Compliant Marine Oil Bunker Suppliers Profile
9.14 China Cosco Shipping
9.15 Clipper Oil
9.16 Marquard & Bahls
9.17 Peninsula Petroleum Limited
9.18 SK Shipping Co. Ltd.

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