Synthetic Lubricants Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC288

Synthetic lubricants are the specialty lubrication chemicals which provide a large number of benefits and advantages when used for automotive applications. Some of the major advantages of synthetic lubricants are low friction and excellent thermal stability. Increasing awareness among consumers regarding the benefits and advantages of synthetic lubricants as opposed to its mineral counterparts is a key factor anticipated to augment the demand for synthetic lubricants, thus fueling the growth of global synthetic lubricants market over the forecast period. One of the major applications of synthetic lubricants is their usage as a heat transfer fluid especially in heat exchangers and other related heavy machinery. Increasing industrial sector in the developing regions like Asia-Pacific and LAMEA countries is anticipated to propel the demand for synthetic lubricants over the forecast period. Lubricants are those substances which are utilized to achieve reduction in the overall friction between two sliding or moving parts or surfaces. The key objective of a lubricant is to maintain two sliding or moving surfaces aside to decrease the relative friction and thus reduce the continuous destruction of the parts of machinery. The process of reducing the relative friction across two sliding or moving surfaces by the introduction of lubricants is commonly known as lubrication. Lubricants are categorized into three major product segments including bio-based lubricants, synthetic lubricants and mineral based lubricants.

The expanding automotive industry coupled with growing popularity of synthetic lubricants especially for automobile applications is anticipated to boost the growth of global synthetic lubricants market, especially in developing countries such as Brazil, South Korea, China and India. In addition, increasing research and development activities coupled with the increasing investments by various key players in the global synthetic lubricants market for the development and introduction of enhanced grades is projected to propel the demand for synthetic lubricants over the foreseeable years. Key drivers of the global synthetic lubricant market include developing economies and increasing populations as well as rising consumer awareness. However, high initial and operational costs required in the production of synthetic lubricants as well as problems related to potential decomposition of synthetic lubricants in various chemical environments may hamper the growth of global synthetic lubricants market.

The synthetic lubricants market can be segmented on the basis of type, application and region. On the basis of type, the global synthetic lubricants market can be segmented into esters, PAO, group 3 (hydro cracking) and PAG. On the basis of application, the global synthetic lubricants market can be segmented into metalworking fluids, engine oil and industrial. On the basis of region, the global synthetic lubricants market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific. The demand in Asia-Pacific is analyzed to be the major driving factor for the growth of global synthetic lubricants market. China is anticipated to account for the largest share and lead the overall demand for synthetic lubricants owing to increasing industrial production over the last few years. The markets in other developing countries such as Brazil, Russia, Poland, Indonesia, New Zealand, Argentina and India among others are also anticipated to grow rapidly throughout the forecast period.

Major players operating in the global synthetic lubricants market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market. Some of the key players involved in the manufacture and supply of synthetic lubricants include Aerospace Lubricants Inc, Exxon Mobil Corporation Ltd, Petronas Lubricants International, Castrol India Ltd, Pennzoil Lubricants, The Dow Chemical Company, Lubrizol Corporation, Motul Lubricants, Total Lubricants Ltd and Royal Dutch Shell Plc among others.

Market Segmentation

Market by Type

·         Esters

·         PAO

·         Group 3 (hydro cracking)

·         PAG

Market by Application

·         Metalworking fluids

·         Engine oil

·         Industrial

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


Related Reports

Lignin Market (By Product: Ligno-sulphonates, Organosolv Lignin, Kraft Lignin, Others; By Application: Macromolecules, Aromatics) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global lignin market value is expected to reach around US$ 907.1 million by 2026 and forecasted to grow at a CAGR of 2% over the time frame 2019 to 2026. The report provides analysis of global lignin market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights The worldwide lignin industry is evolving at a good pace, with a favorable develop

Graphene Market (By Product: Graphene nanoplatelets, Graphene oxide, Others; By Application: Electronics, Composites, Energy, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global graphene market is forecasted to grow at a CAGR around 38.2% over the forecast time frame 2019 to 2026 and reach around US$ 552.6 million by 2026. The report provides analysis of global Graphene market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights Increasing demand for lightweight and durable products for different parts, incl

Acetic Acid Market (By Manufacturing Process: Synthetic route{ Methanol carbonylation, Terephthalic/isophthalic acid coproduct, Paraffin oxidation, Oxidation of hydrocarbons, Olefin oxidation}, Biological route; By Application: Vinyl acetate monomer, Monochloroacetic, Acetic anhydride, Terephthalic acid, Acetate esters, Dimethylacetamide, Ketene, Textiles, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global acetic acid market size is expected to worth around US$ 16.4 billion by 2026 and forecasted to grow at striking CAGR around 6.2% over the forecast time frame 2019 to 2026, According to Acumen Research and Consulting. The report provides analysis of global acetic acid market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights Also re

Hydrogen Peroxide Market (By End User: Mining, Chemical, Paper & pulp, Wastewater Treatment and Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global hydrogen peroxide market size is expected to reach around US$ 6.3 billion by 2026 and forecasted to grow at a CAGR of 5.2 % over forecast period 2019 to 2026. Hydrogen peroxide or H2O2 was identified in 1818 as a chemical compound. It is a transparent liquid that is used mainly in diverse sectors because of its superior bleaching properties. This chemical compound is marginally more viscous than wate

Chondroitin Sulfate Market (By Source: Bovine, Swine, Poultry, Shark, Synthetic; By Application: Dietary Supplements, Pharmaceutical, Cosmetics, Veterinary Use) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global chondroitin sulfate market size is anticipated to worth around US$ 1.5 billion by 2026 and growing at a CAGR of 3.3 % over the forecast time period 2019 to 2026. Chondroitin sulfate is also regarded as glycosaminoglycan sulfated glucose (GAG). Chondroitin sulfate comprises a large alternating sugar chain including glucuronic acid and N-acetylgalactosamine. Chondroitin sulfate is a chemical compound d

Biological Seed Treatment Market (By Product: Microbials, Botanicals and Others; By Function: Seed Enhancement, Seed Protection; By Crop Type: Vegetable Crops, Wheat, Corn, Soybean, Sunflower, Cotton, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

Introduction According to Acumen Research and Consulting, the global biological seed treatment market size is expected to worth around US$ 2 billion by 2026 and to grow at striking CAGR around 11.2 % from 2019 to 2026. The report provides analysis of global Biological Seed Treatment market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Ins

Cart Summary