Press release
Rise In Demand : Synthetic Lubricants Market Globally Grow at a CAGR of 3.17% by 2021
Increasing automation in the manufacturing and processing industries drives the consumption of high-performance lubricants. Long-lasting synthetic lubricants can withstand high temperature, pressure, and friction. Growing focus on energy efficiency and cleanliness drive the demand for synthetic lubricants in industries. Synthetic lubricants are oil-based and are made of various chemical compounds that are synthetically produced. The synthetic lubricants vary in their properties and compositions of chemicals and oils. They can be made from petroleum and petrochemical components that have unique chemical properties. Bio-based raw materials can also be used for producing synthetic lubricants.
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Technavios analysts forecast the global synthetic lubricants market to grow at a CAGR of 3.17% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global synthetic lubricants market 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Synthetic Lubricants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
BP
Chevron
Exxon Mobil
Royal Dutch Shell
Total
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Other prominent vendors
FUCHS
Idemitsu Kosan
Gulf Oil India
Lubrication Engineers
The Dow Chemical Company
Market driver
Increase in process automation
For a full, detailed list, view our report
Market challenge
Fluctuating prices of raw materials
For a full, detailed list, view our report
Market trend
Emergence of bio-based environment-friendly lubricants
For a full, detailed list, view our report
Browse Report @ http://www.researchmoz.us/global-synthetic-lubricants-market-2017-2021-report.html
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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