Synthetic Lubricants (Group IV, Group V) Market Analysis By Product (PAO, Esters, PAG), By Application (Engine Oils, HTF, Transmission Fluids, Metalworking Fluids) And Segment Forecasts To 2024

  • ID: 3822869
  • Report
  • Region: Global
  • 84 pages
  • Grand View Research
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FEATURED COMPANIES

  • Amsoil
  • British Petroleum
  • Chevron
  • Exxon Mobil
  • Fuchs
  • Kendall
  • MORE
The global synthetic lubricants market is expected to reach USD 23.45 billion by 2024, according to this new report. The rapidly expanding automotive industry, coupled with rising popularity of synthetic lubricants for automobile applications is projected to propel the market especially in countries such as South Korea, Brazil, and China.

Synthetic lubricants provide numerous benefits when used for automotive applications such as excellent thermal stability and low friction. Rising awareness regarding the advantages of the product, as opposed to its mineral counterparts, will augment industry growth over the forecast period. A major application of synthetic lubricants is their use as heat transfer fluids in heavy machinery and heat exchangers. Rising industrial sector in Asia Pacific countries will propel product demand over the forecast period.

Increasing R&D investment by companies for the introduction and development of improved grades is expected to fuel demand over the next eight years. However, low cost of mineral oils may reduce synthetic oil demand thus hampering industry development over the forecast period. Technological innovations related to anti-slip and flow properties of these products is expected to have a positive impact on the market over the forecast period.

Further key findings from the report suggest:

The global synthetic lubricants market demand was around 3,821.8 kilo tons in 2015 and is projected to reach 4,900.1 kilo tons by 2024 growing at a CAGR of 2.8% from 2016 to 2024.

PAO (Group IV) based synthetic lubricants was estimated at over 2,000.0 kilo tons. The compatibility of other mineral oils with synthetic oils is anticipated to be a major driver propelling the market. Although ester and PAG-based oils offer significantly better properties in comparison to PAO based oils, they are relatively more expensive which has thus resulted in lower market demand.

Engine oil was the largest application segment valued over USD 6,000.0 million in 2015. Rising need for high fuel economy coupled with growing demand for high-quality gear and motor oils is expected to have a positive impact on the market over the forecast period.

Asia Pacific is expected grow at a CAGR of over 3.0% from 2016 to 2024 on account of the growing industrial and automobile markets in the region. Furthermore, the European region witnessed the highest growth over the past few years on account of its large automotive manufacturing base in Germany.

The synthetic lubricants market is fragmented with few manufacturers investing heavily in R&D to gain a greater share of the market. Rising expenditure on the development and introduction of fire-resistant type hydraulic fluids and food grade oils is expected to be one of the critical success factors over the forecast period. Prominent market players include British Petroleum, Valvoline, Chevron, Shell, Exxon Mobil and Total.
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Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Amsoil
  • British Petroleum
  • Chevron
  • Exxon Mobil
  • Fuchs
  • Kendall
  • MORE
1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Source

2. Executive Summary

3. Synthetic Lubricants Industry Outlook
3.1. Synthetic lubricants market segmentation
3.2. Synthetic lubricants market size and growth prospects, 2013 - 2024
3.3. Synthetic lubricants market value chain analysis
3.3.1. Vendor landscape
3.4. Raw material outlook
3.5. Technology overview
3.6. Regulatory framework
3.7. Synthetic lubricants market dynamics
3.7.1. Market driver analysis
3.7.1.1. Growing automotive demand
3.7.1.2. Growing natural gas production in GCC
3.7.2. Market restraint analysis
3.7.2.1. Cost concerns
3.7.2.2. Emergence of bio-based lubricants
3.8. Key market opportunities - Prioritized
3.9. Industry analysis - Porter's Analysis
3.10. Synthetic lubricants company market share analysis, 2015
3.11. Synthetic lubricants market PESTEL analysis

4. Synthetic Lubricants Product Outlook
4.1. Synthetic lubricants market share by product, 2015 & 2024
4.2. PAO based
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013 - 2024
4.3. Ester based
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
4.4. PAG based
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 - 2024

5. Synthetic Lubricants Application Outlook
5.1. Synthetic lubricants market share by application, 2015 & 2024
5.2. Engine oils
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. Heat transfer fluids (HTF)
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4. Transmission fluids
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 - 2024
5.5. Metalworking fluids
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013 - 2024
5.6. Other applications
5.6.1. Market estimates and forecast, 2013 - 2024
5.6.2. Market estimates and forecast, by region, 2013 - 2024

6. Synthetic Lubricants Regional Outlook
6.1. Synthetic lubricants market share by region, 2015 & 2024
6.2. North America
6.2.1. Market estimates and forecast, 2013 - 2024
6.2.2. Market estimates and forecast, by product, 2013 - 2024
6.2.3. Market estimates and forecast, by application, 2013 - 2024
6.2.4. U.S.
6.2.4.1. Market estimates and forecast, 2013 - 2024
6.2.4.2. Market estimates and forecast, by product, 2013 - 2024
6.2.4.3. Market estimates and forecast, by application, 2013 - 2024
6.3. Europe
6.3.1. Market estimates and forecast, 2013 - 2024
6.3.2. Market estimates and forecast, by product, 2013 - 2024
6.3.3. Market estimates and forecast, by application, 2013 - 2024
6.3.4. Germany
6.3.4.1. Market estimates and forecast, 2013 - 2024
6.3.4.2. Market estimates and forecast, by product, 2013 - 2024
6.3.4.3. Market estimates and forecast, by application, 2013 - 2024
6.3.5. UK
6.3.5.1. Market estimates and forecast, 2013 - 2024
6.3.5.2. Market estimates and forecast, by product, 2013 - 2024
6.3.5.3. Market estimates and forecast, by application, 2013 - 2024
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2013 - 2024
6.4.2. Market estimates and forecast, by product, 2013 - 2024
6.4.3. Market estimates and forecast, by application, 2013 - 2024
6.4.4. China
6.4.4.1. Market estimates and forecast, 2013 - 2024
6.4.4.2. Market estimates and forecast, by product, 2013 - 2024
6.4.4.3. Market estimates and forecast, by application, 2013 - 2024
6.4.5. India
6.4.5.1. Market estimates and forecast, 2013 - 2024
6.4.5.2. Market estimates and forecast, by product, 2013 - 2024
6.4.5.3. Market estimates and forecast, by application, 2013 - 2024
6.4.6. Japan
6.4.6.1. Market estimates and forecast, 2013 - 2024
6.4.6.2. Market estimates and forecast, by product, 2013 - 2024
6.4.6.3. Market estimates and forecast, by application, 2013 - 2024
6.5. Latin America
6.5.1. Market estimates and forecast, 2013 - 2024
6.5.2. Market estimates and forecast, by product, 2013 - 2024
6.5.3. Market estimates and forecast, by application, 2013 - 2024
6.5.4. Brazil
6.5.4.1. Market estimates and forecast, 2013 - 2024
6.5.4.2. Market estimates and forecast, by product, 2013 - 2024
6.5.4.3. Market estimates and forecast, by application, 2013 - 2024
6.6. MEA
6.6.1. Market estimates and forecast, 2013 - 2024
6.6.2. Market estimates and forecast, by product, 2013 - 2024
6.6.3. Market estimates and forecast, by application, 2013 - 2024
6.6.4. UAE
6.6.4.1. Market estimates and forecast, 2013 - 2024
6.6.4.2. Market estimates and forecast, by product, 2013 - 2024
6.6.4.3. Market estimates and forecast, by application, 2013 - 2024

7. Competitive Landscape     
7.1. Amsoil Inc.
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Shell
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. ExxonMobil
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. British Petroleum
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Total
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Chevron
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Fuchs Group
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Pennzoil
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Kendall (Phillips 66)
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Valvoline
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Castrol
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives

8. Methodology and Scope
8.1. Research Methodology
8.2. Research Scope & Assumptions
8.3. List of Data Sources

List of Tables

Table 1 Synthetic lubricants - Industry Summary & Key Buying Criteria
Table 2 Global synthetic lubricants market volume & revenue, 2013 - 2024, (Kilo Tons) (USD Million)
Table 3 Global synthetic lubricants market volume by region, 2013 - 2024, (Kilo Tons)
Table 4 Global synthetic lubricants market revenue by region, (USD Million), 2013 - 2024
Table 5 Global synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024
Table 6 Global synthetic lubricants market revenue by product, (USD Million), 2013 - 2024
Table 7 Global synthetic lubricants market volume by application, (Kilo Tons), 2013 - 2024
Table 8 Global synthetic lubricants market revenue by application, (USD Million), 2013 - 2024
Table 9 Synthetic lubricants - Key market driver analysis
Table 10 Synthetic lubricants -  Key market restraint analysis
Table 11 Global PAO based synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)  
Table 12 Global PAO based synthetic lubricant volume, by region, (Kilo Tons), 2013 - 2024
Table 13 Global PAO based synthetic lubricant revenue, by region, (USD Million), 2013 - 2024
Table 14 Global ester based synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)  
Table 15 Global ester based synthetic lubricants volume, by region, (Kilo Tons), 2013 - 2024
Table 16 Global ester based synthetic lubricants revenue, by region, (USD Million), 2013 - 2024
Table 17 Global PAG based synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)
Table 18 Global PAG based synthetic lubricants volume, by region, (Kilo Tons), 2013 - 2024
Table 19 Global PAG based synthetic lubricants revenue, by region, (USD Million), 2013 - 2024
Table 20 Global synthetic lubricants market estimates and forecast as engine oils, 2013 - 2024, (Kilo Tons) (USD Million)
Table 21 Global synthetic lubricants market estimates and forecast as engine oils applications, by region, (Kilo Tons), 2013 - 2024
Table 22 Global synthetic lubricants market estimates and forecast as engine oils applications, by region (USD Million), 2013 - 2024
Table 23 Global synthetic lubricants market estimates and forecast as heat transfer fluids, 2013 - 2024, (Kilo Tons) (USD Million)
Table 24 Global synthetic lubricants market estimates and forecast as heat transfer fluids, by region, (Kilo Tons), 2013 - 2024   
Table 25 Global synthetic lubricants market estimates and forecast in heat transfer fluids, by region (USD Million), 2013 - 2024
Table 26 Global synthetic lubricants market estimates and forecast as transmission fluids, 2013 - 2024, (Kilo Tons) (USD Million)
Table 27 Global synthetic lubricants market estimates and forecast as transmission fluids, by region, (Kilo Tons), 2013 - 2024
Table 28 Global synthetic lubricants market estimates and forecast as transmission fluids, by region (USD Million), 2013 - 2024
Table 29 Global synthetic lubricants market estimates and forecast as metalworking fluids, 2013 - 2024, (Kilo Tons) (USD Million)
Table 30 Global synthetic lubricants market estimates and forecast as metalworking fluids, by region, (Kilo Tons), 2013 - 2024
Table 31 Global synthetic lubricants market estimates and forecast as metalworking fluids, by region (USD Million), 2013 - 2024
Table 32 Global synthetic lubricants market estimates and forecast in other applications, 2013 - 2024, (Kilo Tons) (USD Million)
Table 33 Global synthetic lubricants market estimates and forecast in other applications, by region, (Kilo Tons), 2013 - 2024
Table 34 Global synthetic lubricants market estimates and forecast in other applications, by region (USD Million), 2013 - 2024
Table 35 North America synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)
Table 36 North America synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024
Table 37 North America synthetic lubricants market revenue by product, (USD Million 2013 - 2024
Table 38 North America synthetic lubricants market volume, by application, (Kilo Tons), 2013 - 2024
Table 39 North America synthetic lubricants market revenue, by application, (USD Million), 2013 - 2024
Table 40 Europe synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)
Table 41 Europe synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024
Table 42 Europe synthetic lubricants market revenue by product, (USD Million), 2013 - 2024
Table 43 Europe synthetic lubricants market volume, by application, (Kilo Tons), 2013 - 2024
Table 44 Europe synthetic lubricants market revenue, by application, (USD Million), 2013 - 2024
Table 45 Asia Pacific synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)
Table 46 Asia Pacific synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024  
Table 47 Asia Pacific synthetic lubricants market revenue by product, (USD Million), 2013 - 2024
Table 48 Asia Pacific synthetic lubricants market volume, by application, (Kilo Tons), 2013 - 2024
Table 49 Asia Pacific synthetic lubricants market revenue, by application, (USD Million), 2013 - 2024
Table 50 Latin America synthetic lubricants market estimates and forecast, 2013 - 2024, (Kilo Tons) (USD Million)
Table 51 Latin America synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024
Table 52 Latin America synthetic lubricants market revenue by product, (USD Million), 2013 - 2024
Table 53 Latin America synthetic lubricants market volume, by application, (Kilo Tons), 2013 - 2024
Table 55 MEA synthetic lubricants market revenue, by application, (USD Million), 2013 - 2024
Table 56 MEA synthetic lubricants market volume by product, (Kilo Tons), 2013 - 2024
Table 57 MEA synthetic lubricants market revenue by product, (USD Million), 2013 - 2024
Table 58 MEA synthetic lubricants market volume, by application, (Kilo Tons), 2013 - 2024
Table 59 MEA synthetic lubricants market revenue, by application, (USD Million), 2013 - 2024

List of Figures

Figure 1 Synthetic lubricants market segmentation
Figure 2 Global synthetic lubricants market volume and  revenue, 2013 - 2024, (Kilo Tons) (USD Million)
Figure 3 Synthetic lubricants: Value chain analysis
Figure 4 Synthetic Lubricants Acid Market Dynamics
Figure 5 Automotive sales (passenger and commercial vehicles) , by country, 2008 - 2013 (Million Units)
Figure 6 GCC natural gas production, 2004 - 2012, (BCM)
Figure 7 Global bio-lubricants market, 2013 - 2024 (Kilo Tons)
Figure 8 Key Opportunities Prioritized - Synthetic Lubricants
Figure 9 Synthetic Lubricants - Porter’s Analysis
Figure 10 Synthetic lubricants: Company market share analysis, 201
Figure 11 Synthetic Lubricants - PESTEL Analysis
Figure 12 Synthetic lubricants market volume share by product, 2015 & 2024
Figure 13 Synthetic lubricants market volume share by application, 2015 & 2024
Figure 14 Synthetic lubricants market volume share by region, 2015 & 2024
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- Exxon Mobil
- Shell
- British Petroleum
- Valvoline
- Total
- Chevron
- Fuchs
- Pennzoil
- Kendall
- Amsoil
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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