Global Synthetic Lubricants Market Size was valued nearly USD 30.2 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 3.1% during the forecast period that is 2018-2025.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Synthetic lubricants are used in many manufacturing industries such as automotive, energy, mining, food and beverages, commercial manufacturing machinery, aviation, chemicals and textile among others. Major demands of the synthetic lubricants market are growing populations and developing economies. However, high operational cost to produce synthetic lubricants and potential decomposition problems in certain chemical environments can hamper the growth of the market. Ample opportunities are there for synthetic lubricant market as large numbers of industries are coming up in future. As only a small fraction of these lubricants are recycled, major manufacturers are currently looking for a renewable source of these lubricants to meet the growing demands of the economy.

Segmental Analysis

By Applications Insights: Based on the application, the global market is segregated into engine oil, industrial, and metal working fluids. The engine oil segment is projected to account for the largest share of the Synthetic Lubricants Market during the forecast period, in terms of value. The global synthetic lubricants market will grow massive, in the coming years, owing to the increase in the drive for synthetic lubricants from the industrial and automotive sectors. The benefits of synthetic lubricants include its excellent thermal stability, good load carrying capacity, wear & tear protection, and low friction which are not present in the conventional lubricants, thus driving the demand of the market.  New researches and technologies such as ester-based oils that are fire resistant are used on a large scale in various industries.

By Types Properties Insights: The synthetic lubricants are segmented according to the type such as Polyalphaolefins(PAO), polyalkylene glycol(PAG),  Esters and  Group III (Hydro Cracking). PAO have very high temperature range and are mostly utilized in extreme cold conditions and high heat applications. PAG has high quality lubricity, natural viscosity index and stable temperature. They offer low volatility in high-temperature applications and it can be used in low and high temperature environments. They are generally used as quenchants, metalworking fluids, and food-grade lubricants and compressor equipment. Major drivers of the synthetic lubricant market are growing populations and developing economies.

Regional Analysis

Asia Pacific is expected to be the fastest growing region in the global industrial absorbents market, due to increasing industrialization and growth in chemical, Oil & gas industries of the region. Rising end-use industries such as food processing, oil & gas, chemical, others in growing countries such as China and India are expected to help in the growth of industrial absorbents market over the forecast period. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Global Synthetic Lubricants Market Size, Share Analysis By Region 2017

Global Synthetic Lubricants Market Study Objective

1. To forecast the market size of synthetic lubricants market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of synthetic lubricants market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of synthetic lubricants market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of synthetic lubricants market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the synthetic lubricants market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.  

Key Players

Key players of the synthetic lubricant market are Indian Oil Corporation Ltd., Exxon Mobil Corporation, The DOW Chemical Company, Fuchs Petolub SE, Total Lubricants, Demitsu Kosan Co. Ltd, BP PLC, Chevron Corporation, Lubrizol Corporation, Pennzoil, Petroliam Nasional Berhad, Royal Dutch Shell Plc, British Petroleum Plc, Sinopec Limited, Lukoil, and other

Global Synthetic lubricants Market Study Report Offer You!

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