DUBLIN--(BUSINESS WIRE)--The "Synthetic Lubricants Market by Base Oil, Product and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global synthetic lubricants market was valued at $12.0 billion in 2018, and is projected to reach $18.8 billion by 2026, growing at a CAGR of 5.8% from 2019 to 2026.
Globally, among all types of lubricant present in the market, synthetic lubricants have been registering significant growth over the past few years. Some of the factors contributing to the growth of the global market include increase in automotive vehicle production and demand, rise in need for vehicle servicing and reconditioning activities, overall economic growth, and growth in the industrial manufacturing output.
Furthermore, increase in demand for advanced technologies and better-quality products in the vehicle boosts the demand for synthetic lubricants across the globe. Activities such as repair, maintenance, and renovation of old vehicles are growing, wherein synthetic lubricants is the highly adopted due to low emissions of volatile compounds and relatively thicker layer as compared to traditional mineral oil; thereby, contributing in the global market growth. On the other hand, volatility in the prices of raw material is expected to restrain the global market growth.
The global synthetic lubricants market is segmented on the basis of base oil, product, end user, and region. Depending on base oil, the global market is fragmented into differential esters, Polyalkylene Glycol (PAG), and polyalphaolefins (PAO).
Based on the products, it is divided into engine oil, hydraulic fluid, metalworking fluids, compressor oil, gear oil, transmission fluid, turbine oil, and others. By end user, it is categorized into automotive, industrial, and others. Region wise, the global market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study:
- Based on base oil, the polyalphaolefin segment emerged as the major revenue generating segment in 2018 due to its wide application area in the automotive industry.
- Based on the product type, the engine oil segment accounted for the largest synthetic lubricants market share in 2018, and it is anticipated to be the largest one by the end of forecast period.
- Asia-Pacific is the largest regional market due to largest automotive production sales outlook, strong industrial growth, presence of emerging economic such as China, India, Japan, and South Korea.
- Introduction of new age engine and superior compatibility of synthetic oil with them is considered one of the major advantages in this market.
- Development in the synthetic lubricant technology is anticipated to offer lucrative growth opportunities to the market during the forecast period.
Growth in the adoption of bio-based lubricants in response to rise in awareness regarding the environment and changing emission standards is the key to the market players in this market.
Key Topics Covered:
2. Executive Summary
2.1. Key Findings of The Study
2.2. CXO Perspective
3. Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.3. Porter'S Five Forces Analysis
3.4. Market Dynamics
18.104.22.168. Growth In Automotive Production And Sales
22.214.171.124. Growing Popularity of Synthetic Lubricants Among Consumer
126.96.36.199. Developing Global Transportation Infrastructure
188.8.131.52. Fluctuating Raw Material Prices
184.108.40.206. Developing Industrialization In African Region
3.5. Patent Analysis (2015-2018)
3.6. Regulatory Outlook
3.6.1. Ilsac Standards For Passenger Car Oil
3.7. Pricing Analysis
4. Global Synthetic Lubricants Market, By Base Oil
4.2. Polyalkylene Glycol (Pag)
4.3. Polyalphaolefin (Pao)
5. Global Synthetic Lubricants Market By Product
5.1. Market Size And Forecast By Product
5.2. Engine Oil
5.3. Hydraulic Fluid
5.4. Metalworking Fluid
5.5. Compressor Oil
5.6. Gear Oil (Gear & Brake Oil)
5.7. Transmission Fluid
5.8. Turbine Oil
6. Global Synthetic Lubricants Market, By End User
6.1.1. Market Size And Forecast By End User
7. Global Synthetic Lubricants Market, By Region
7.1.1. Market Size And Forecast By Region
7.2. North America
8. Competitive Landscape
8.1.1. Market Player Positioning, 2018
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Heatmap
8.5. Key Developments
8.5.1. New Product Launches
8.5.4. Other Developments
9. Company Profiles:
9.1. British Petroleum (Bp) P.L.C
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Operating Business Segments
9.1.4. Product Portfolio
9.1.5. Business Performance
9.1.6. Key Strategic Moves And Developments
9.2. Chevron Corporation
9.3. Exxon Mobil Corporation
9.4. Idemitsu Kosan Co., Ltd.
9.5. Indian Oil Corporation Ltd.
9.7. Petroliam Nasional Berhad (Petronas)
9.8. Royal Dutch Shell Plc
9.9. Sinopec Corp.
9.10. Total S.A.
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