Global Synthetic Lubricants Market
Report Highlights
Global Synthetic Lubricants Market
By Product (Esters, Group III, PAO, PAG), Application (Industrial, Engine Oil, Metalworking Fluids) and Regional Market Size, Status and Forecast to 2025
Market Overview:
The global Synthetic Lubricants market was valued at USD 32.65 billion in 2016 and is projected to reach USD 40.07 billion by 2025, growing at a CAGR of 2.3% from 2017 to 2025.
Synthetic lubricants belong to the class of function fluids which are used in large quantities in the manufacturing industry. The rise in manufacturing activity of automobile in China and India is expected to boost market growth. The slow growth in North America and Europe could have a negative impact on market demand.
Market Dynamics:
1. Market Drivers
1.1 Rise in manufacturing activity and automotive production in Asia Pacific
1.2 Increased consumer awareness about
2. Market Restraints
2.1 Stagnant growth in North America and Europe
Market Segmentation:
The global Synthetic Lubricants market is segmented on the product, application and region.
1. By Product:
1.1 Polyalphaolefin
1.2 Esters
1.3 Group III Hydro Cracking
1.4 Polyalkene Glycol
1.5 Others
2. By Application:
2.1 Transportation
2.2 Construction
2.3 Industrial
2.4 Others
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Royal Dutch Shell PLC
2. Exxonmobil Corporation
3. DOW Chemical Company
4. Total SA
5. BP PLC
6. Chevron Corporation
7. Pennzoil
8. Lubrizol Corporation
9. Idemitsu Kosan Co. Ltd.
10. Fuchs Petolub SE
11. Petronas
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Synthetic Lubricants market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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