Press release
Synthetic Lubricants Market Growth by Key Players: ExxonMobil, Fuchs, Amsoil, British Petroleum, Valvoline, Shell and Castrol
Global Market Insights, Inc.
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Increasing demand from automobile and industrial sector will drive the global synthetic lubricants market size during forecast period. Growing automobiles demand on account of rising middle class income level and increasing installation of new machines are some of factors responsible to augment industry landscape.
Growing natural gas demand from various sectors including food & beverage, personal care and construction will boost the natural gas production, which will positively impact the synthetic lubricants market.
The global industry revenue generated from heat transfer fluid is predicted to witness growth at over 4% by 2023 on account of its enhancing heat transfer efficiency. It finds application in various industrial processing including chemical, oil & gas and pharmaceutical. High cost over mineral oil may hamper the synthetic lubricant market growth. Government regulations to support development of environment friendly product will propel the demand for bio-lubricants, are also among the major restraints.
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Partial Chapter of the Table of Content
Chapter 3 Synthetic Lubricants Industry Insights
3.1 Industry Segmentation
3.2 Industry size and forecast
3.3 Synthetic Lubricants Industry Echosystem Analysis
3.4 Synthetic Lubricants industry impact forces
3.4.1 Growth drivers
3.4.1.1 Positive automible production outlook
3.4.1.2 Abundant availability of natural gas in GCC
3.4.2 Industry pitfalls & challenges
3.4.2.1 Cost issues
3.4.2.2 Bio-based lubricants market penetration
3.5 Growth potential analysis
3.5.1 Key Synthetic lubricants market growth opportunities
3.6 Porter’s Analysis
3.7 Synthetic lubricants company market share analysis, 2015
3.8 PESTEL Analysis
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North America led by the U.S. lubricants market is set to reach over USD 1 billion by 2023. Existence of numerous aviation industry including Boeing may spur the business growth in coming years. Europe synthetic lubricants market share led by UK and Germany was over 200 kilo tons in 2015. Existence of enormous automotive and aerospace manufacturing companies including Rolls, Audi, Volkswagen, Airbus, Royce, Mercedes and BMW may increase the automobile sale, which may positively encourage the business growth over the forecast period
Key industry players include ExxonMobil, Fuchs, Amsoil, British Petroleum, Valvoline, Shell and Castrol. ExxonMobil, British Petroleum, Shell and Castrol were accounted for 50% of overall industry size.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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