Numerous Performance Advantages Of Synthetic Lubricants Global Market Over The Period 2017 - 2019

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Lubricants are substances that are utilized to reduce the friction between the two moving or sliding surfaces. Main objective of the lubricant is to keep the two moving or sliding surfaces aside in order to decrease the friction and reduce the continuous destruction of materials. The process of reducing the friction between the two moving or sliding surfaces through the introduction of lubricants is called as lubrication. Key functions of lubricants are to reduce wear and tear of the surfaces by avoiding direct metal to metal contact, they acts as a coolant, it lowers down power loss in internal combustion engines. Lubricants are further categorized into three product segments such as synthetic lubricants, bio based lubricants and mineral based lubricants.

Synthetic lubricants are composed of synthetic base oil, thickeners and additives that provide oil lubricants and grease numerous performance advantages in comparison to the conventional mineral based lubricants. Synthetic oil is a lubricant comprising of chemical products that are produced artificially. They are manufactured from chemically modified petroleum products and can be synthesized from various raw materials. It provides superior mechanical and chemical properties to those found in traditional mineral oils. Synthetic oil acts as a substitute for lubricant refined from petroleum when operating in extreme temperatures. Aircraft jet engines need synthetic oils while aircraft piston engines do not. Synthetic lubricants are also utilized in metal stamping to provide environmental and other benefits when compared to conventional petroleum and animal fat based products.

Some of the key players in the business of synthetic lubricants are Exxon Mobil Corporation Ltd, Aerospace Lubricants Inc, Castrol India Ltd, Petronas Lubricants International, The Dow Chemical Company, Pennzoil Lubricants, Motul Lubricants, Lubrizol Corporation, Royal Dutch Shell Plc and Total Lubricants Ltd among others.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Rest of the World

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Market growth drivers
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Current market trends
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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