Synthetic Lubricants Market by Type (PAO, PAG, Esters, Group III); By Application (Engine Oil, Hydraulic Fluids, Metalworking Fluids, Compressor Oil, Gear Oil, Refrigeration Oil, Transmission Fluids and Turbine Oil); By End User (Automotive, Power Generat

Synthetic Lubricants Market by Type (PAO, PAG, Esters, Group III); By Application (Engine Oil, Hydraulic Fluids, Metalworking Fluids, Compressor Oil, Gear Oil, Refrigeration Oil, Transmission Fluids and Turbine Oil); By End User (Automotive, Power Generation, Food and Beverages and Others) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

Product Overview
Synthetic lubricants are composed of oil components which have been synthetically produced rather than refined from existing petroleum crudes or vegetable oils by reaction of a few well-defined chemical compounds. In both high and low temperatures, they can be used. Synthetic lubricants enhance resistance to oxidation, thermal stability, low-temperature properties, and reduce the formation of residues, flammability, and lower losses of evaporation. They also assist in minimizing fiction and thus improve the efficiency of fuel and the life of machinery. Synthetic lubricants help to regulate the temperature of the vehicle by absorbing the heat produced by the moving parts of the vehicle and transferring it to the sump or cooler. These factors collectively help to increase the average life cycle of the vehicle. Synthetic lubricants find their application in process oil, engine oil, marine lubricants, hydraulic oil, and metalworking fluids.

Market Highlights
Global Synthetic Lubricants Market is expected to project a notable CAGR of 3.14% in 2030.
Global Synthetic Lubricants Market to surpass USD 46.57 billion by 2030 from USD 34.19 billion in 2020 at a CAGR of 3.14% in the coming years, i.e., 2021-30. The factors such as growing automotive industry and vehicle parks are bolstering the market growth. Introduction of new technologies and new standards, increasing regulatory requirements, rising demand from consumers for high performance and long-lasting products are the other factors which are significantly impacting the synthetic lubricants market growth. The consumption of synthetic lubricants is escalating owing to their properties including high viscosity, water solubility, and bio-degradability.

Recent Highlights in Global Synthetic Lubricants Market
In July 2019, Indian oil corporation launched Servo SuperMile Plus high-performance lubricants. It is a high-quality engine oil that is ideal for new-generation petrol and diesel cars.

Global Synthetic Lubricants Market: Segments
PAO segment to grow with the highest CAGR during 2020-30
Global Synthetic Lubricants Market is segmented by Type into PAO, PAG, Esters, Group III. PAO segment held the largest market share in the year 2020. Polyalphaolefin (PAO), also known as synthetic hydrocarbons is the common form of synthetic base oil. These lubricants are produced via catalytic oligomerization of alphaolefin. PAO possesses various chemical and physical properties such as a higher viscosity index, lower volatility, better oxidative/thermal stability, and lower pour point. They are highly utilized as high-performance functional base fluids in compressor oils, hydraulic oils, transmission oils, and engine oils.

Engine Oil segment to grow with the highest CAGR during 2020-30
Global Synthetic Lubricants market is bifurcated by application into Engine Oil, Hydraulic Fluids, Metalworking Fluids, Compressor Oil, Gear Oil, Refrigeration Oil, Transmission Fluids and Turbine Oil. Engine Oil segment held the largest market share in the year 2020 and will continue to dominate the market in the coming years owing to propelling automotive industry that includes personal as well as cargo transportation. Engine oil is primarily used in automobiles to minimize metal-to-metal contact and reduce damage and friction. It provides high operating temperature, outstanding firm protection, and enhanced drain interval.

Market Dynamics
Drivers
Flourishing Automotive Industry
Automotive industry has witnessed a tremendous growth in the last few years. According to the OICA, in 2017 global vehicle production was almost 97 million units. The demand for synthetic lubricants is increasing in the automotive industry which is estimated to have a positive impact on market growth. These lubricants are utilized in automotive industry in the form of gearbox lubes, diesel engine oils, and transmission oils in passenger and commercial vehicles and motorcycles. In addition, to smoothen the working of machinery in the automotive sector, the demand for low viscosity grease and fluids is accelerating which is anticipated to propel the market growth. Bedsides, mounting sales of commercial and passenger vehicles in developing economies are boosting the global automotive industry. This in turn is projected to boost the synthetic lubricants market.

Technological Advancements in Synthetic Lubricants
Advent of advancements in synthetic lubricant technologies is expected to boost the synthetic lubricants market in the coming years. Various manufacturers are introducing environmentally-friendly, efficient, and effective synthetic lubricants at very competitive costs. This would increase the penetration of synthetic lubricants in the market. In addition, technological innovation such as NSF food lubrication standard set by significant equipment builders, in order to use synthetic lubricants in the food industry is projected to proliferate synthetic lubricants market growth.

Restraint
High Price of Synthetic Lubricants
High cost associated with synthetic lubricants is likely to have a negative impact on the market growth. The cost of synthetic lubricants is double when compared to mineral oil lubricants. The price of synthetic lubricants based on silicone can go as high as 20 times the cost of mineral oil lubricants. In major emerging markets such as India, China, Brazil, and Africa, price plays a key role in choosing the form of lubricant

Global Synthetic Lubricants Market: Key Players
Royal Dutch Shell Plc

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Castrol
BP PLC
Fuchs Petrolub SE
Lubrizol Corporation
Idemitsu Kosan Co. Ltd.
The Dow Chemical Company
ExxonMobil Corporation, BP
Chevron Corporation Total S.A
Pennzoil
Petroliam Nasional Berhad.
Sinopec Limited
Other Prominent Players
Global Synthetic Lubricants Market: Regions
Global Synthetic Lubricants Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Synthetic Lubricants Market in Europe held the largest market share of XX.X% in the year 2020. Europe will continue to dominate the global Synthetic Lubricants market. The demand in Europe is powered by growing investment in blending plants for synthetic lubricants in Russia and the Netherlands, among other countries. Apart from this, the demand for fuel-efficient lubricants is fueling by strict regulations on CO2 emissions from vehicles, thus driving the synthetic lubricants market in the automotive sector.

Global Synthetic Lubricants Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Synthetic Lubricants Market report also contains analysis on:
Synthetic Lubricants Market Segments:

By Type
PAO
PAG
Esters
Group III
By Application
Engine Oil
Hydraulic Fluids
Metalworking Fluids
Compressor Oil
Gear Oil
Refrigeration Oil
Transmission Fluids
Turbine Oil
By End-User
Automotive
Power Generation
Food and Beverages
Others
Synthetic Lubricants Market Dynamics
Synthetic Lubricants Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

*Please Note: The report will be delivered in 4-5 business days upon order confirmation*


1. Executive Summary
2. Global Synthetic Lubricants Market
2.1. Product Overview
2.
2. Market Definition
2.
3. Segmentation
2.
4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global Synthetic Lubricants Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global Synthetic Lubricants Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Synthetic Lubricants Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. PAO, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. PAG, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Esters, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Group III, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Application: Market Share (2020-2030F)
12.3.1. Engine Oil, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Hydraulic Fluids, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Metalworking Fluids, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. Compressor Oil, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.5. Gear Oil, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.6. Refrigeration Oil, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.7. Transmission Fluids, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.8. Turbine Oil, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By End User: Market Share (2020-2030F)
12.4.1. Automotive, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Power Generation, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.3. Food and Beverages, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.4. Others, By Value (USD Billion 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13 Company Profile
13.1. Royal Dutch Shell Plc
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Castrol
13.3. BP PLC
13.4. Fuchs Petrolub SE
13.5. Lubrizol Corporation
13.6. Idemitsu Kosan Co. Ltd.
13.7. The Dow Chemical Company
13.8. ExxonMobil Corporation, BP
13.9. Chevron Corporation Total S.A
13.10. Pennzoil
13.11. Petroliam Nasional Berhad.
13.12. Sinopec Limited
13.13. Other Prominent Players
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook