Synthetic Lubricants Market is Growing at a Pace and is Expected to Reach at High CAGR With Major Key Players: Exxon Mobil, Prestone Products, Royal Dutch Shell and More
Superior performance is attainable using synthetic lubricants and functional fluids over conventional mineral oil in terms of low friction, high temperature performance, and higher load carrying capacity.
The major players profiled in this study include Exxon Mobil, Prestone Products, Royal Dutch Shell, AMSOIL Incorporated , Ashland Incorporated, Autoparts Holdings Limited, BASF SE, Chevron Corporation, CLC Lubricants Company, Warren Oil Company Incorporated.
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Superior properties of synthetic lubricants & functional fluids over conventional minerals is the key factor that drives the market growth. Increase in demand for higher fuel economy fuels the use of high-quality motor and gear oils. Thus, requirement of high-performance products, reduced maintenance, minimal disposal problems, and stringent environmental regulations for CO2 emissions further accelerates the market growth.
Increase in pace of industrialization is expected to provide new opportunities for the market players. However, high cost of synthetic lubricants & functional fluids hampers the market growth.
The global synthetic lubricants & functional fluids market is segmented on the basis of product, synthetic base stock, end-use industry, and geography. The market segmented based on product includes engine oils, transmission & hydraulic fluids, antifreeze & deicing fluids, metalworking fluids, heat transfer fluids, and dielectric fluids.
By synthetic base stock, the market is categorized into glycols, polyalphaolefins, esters, group III & IV base oils, aromatics, silicone fluids, and others. According to end-use industry, it is divided into automotive, aerospace, metals, industrial machinery, power generation, construction, process industry, and others.
The report analyzes the market trends in different geographies, which include North America, Europe, Asia-Pacific, and LAMEA.
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• The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global synthetic lubricants & functional fluids market to elucidate the prevailing opportunities and potential investment pockets.
• It offers qualitative trends and quantitative analysis for the period of 20162023 to assist stakeholders to understand the market scenario.
• In-depth analysis of the key segments demonstrates the product of synthetic lubricants & functional fluids and its end-use industry.
• Competitive intelligence of the industry highlights the business practices followed by key players across geographies.
• The key players in the market are profiled along with their strategies and developments to understand the competitive outlook of the industry.
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