2023 Projections: Synthetic Lubricants Market Report for Amsoil, British Petroleum, Valvoline, Shell and Castrol. ExxonMobil, British Petroleum

MarketStudyReport.com Add New The Global Synthetic Lubricants market report also provides in depth analysis & prediction on consumption volume, consumption value, sale price, import and export in different region, Upstream raw materials, equipment and downstream consumer’s analysis and Forecast to 2023.

Synthetic lubricants allow for a better performance of engine parts while providing excellent friction and the ability to operate at high temperatures. Key industry players are consistently investing huge amounts to develop lubricants suitable for different types of vehicles and offering benefits across diverse conditions

Synthetic lubricants market size is anticipated to cross USD 5 billion with consumption of over 900 kilo tons by 2023;

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The increase in the popularity of cars having automatic transmission will further influence the penetration of synthetic lubricant products into the transmission fluid segment, with major automakers introducing numerous automatic variants in Asia-Pacific markets. These lubricants ensure optimum performance of a vehicle’s transmission, work as a coolant, along with keeping metal surfaces clean and protecting them against wear.

Top Manufacturers in global market are given bellow:
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.

Scope of Report:

Synthetic lubricants are engineered to endure drastic temperature changes and reduce friction to a large extent, proving suitable for automatic transmissions in vehicles having bigger engines and higher power. Automatic transmission cars are gaining traction in more developed nations in the region in conjunction with increasing consumer spending, enhanced production capacities and the augmentation of ride-haling and cab-sharing services. Reportedly, around 70% of the cars sold in the Australian market have automatic transmissions, indicating a lucrative segment for synthetic lubricants in Asia-Pacific.

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.

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

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Esters market size is predicted to witness growth at over 4% CAGR from 2016 to 2023. Rising demand from reciprocating compressor will propel the industry landscape.

The global industry revenue generated from engine oils was valued at over 1 billion in 2015. It offers sustainable film protection and high operating temperature property. It also helps to improve drain intervals.

Synthetic lubricants market share demand from metal working fluid accounted for over 5% in 2015. Positive outlook towards manufacturing industry is expected to augment the metalworking fluid demand over forecast period.

Table of Content:

Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3 Synthetic Lubricants Industry Insights
Chapter 4. Synthetic Lubricants Market, By Test Type
Chapter 5. Synthetic Lubricants Market, By Service Provider
Chapter 6. Synthetic Lubricants Market, By Region
Chapter 7. Company Profiles

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