Global Synthetic Lubricants Market: Size, Trends & Forecasts (2016-2020)
Scope of the Report
The report entitled “Global Synthetic Lubricants Market: Size, Trends & Forecasts (2016-2020)” provides a detailed analysis of the global synthetic lubricants market with analysis of market size by value, growth, segments, etc.
The report also includes a detailed regional analysis of the synthetic lubricants market in regions such as North America, Europe and Asia Pacific, comprising of its synthetic lubricants market by value, its growth and its segments. Under competitive landscape, different players in the global synthetic lubricants market have been compared on basis of their revenue and market capitalization.
Royal Dutch Shell Plc, Chevron Corporation, Exxon Mobil Corp. and BASF are some of the key players operating in the global synthetic lubricants market whose company profiling is done in the report. In this segment of the report, business overview, financial overview and the business strategies of the companies are provided.
Royal Dutch Shell Plc
Exxon Mobil Corp.
Lubricants are substances which are used to lower the opposing or the frictional force which occurs when two surfaces are in mutual contact. Lubricants find applications across various industries such as automotive, aviation, soap, paints and many other industries.
However, synthetic lubricants are preferred over conventional oils because of there several advantages such as high viscosity index, resistance to corrosion, thermal stability and lesser requirement for oil change.
The synthetic lubricants market can be segmented on the basis of type and application. On the basis of type, the synthetic lubricants market can be divided into Polyalphaolefin (PAO), Esters, Polyalkylene Glycols (PAG) and others which includes Polybutenes. On the basis of application, the synthetic lubricants market can be divided into engine oil, metalworking fluids and end use industry which includes automotive, aviation and energy generation industry.
The global synthetic lubricants market is projected to grow at a healthy rate during the forecast period (2016-2020). This growth is anticipated because of the various growth drivers such as increasing population and industrialization, increase in vehicle sales, OEM recommendations for use of high performance lubricants and less requirement for oil change. However, high operational costs and volatility in oil prices are some of the challenges faced by the synthetic lubricants market. Increased use of lubricants as refrigeration oils, wind turbines, aviation and lubrication based on nanotechnology are some of the latest trends in the synthetic lubricants market.