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Synthetic Lubricants Market by Base Oil, Product and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 4990142
  • Report
  • December 2019
  • Region: Global
  • 420 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Chevron Corporation
  • ExxonMobil Corporation
  • Idemitsu Kosan Co. Ltd.
  • Lukoil
  • Royal Dutch Shell PLC
  • Sinopec Limited
  • MORE
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. Lubricants are fluids that are used to reduce the wear & tear of vehicle parts and the overall friction. Lubricants that are produced through chemically modified petroleum components or crude oil are known as synthetic lubricants. Their primary function is to avoid metal-to-metal contact among engines, other vehicle parts, and industrial manufacturing machinery. Demulsibility and corrosion protection properties are the major advantages associated with synthetic lubricants that help extend the overall vehicle life, improve efficiency of the vehicle, and aid in achieving higher productivity.

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.

Some of the major market players operating in the global synthetic lubricants market are Royal Dutch Shell PLC, ExxonMobil Corporation, British Petroleum (Bp) PLC, Chevron Corporation, Total SA, Idemitsu Kosan Co. Ltd., Sinopec Limited, Lukoil, Petroliam Nasional Berhad (Petronas), and Indian Oil Corporation Ltd.

KEY BENEFITS FOR STAKEHOLDERS
  • The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global synthetic lubricants market from 2018 to 2026 to determine the prevailing opportunities.
  • A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
  • Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
  • Profiles of leading players operating in the market are provided to understand the global competitive scenario.
  • The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS

By Base Oil
  • PAO
  • Esters
  • PAG
  • By Product
  • Engine Oil
  • Hydraulic Fluid
  • Metalworking Fluids
  • Compressor Oil
  • Gear Oil
  • Transmission Fluid
  • Turbine Oil
  • Others
By End User
  • Automotive
  • Industrial
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
  • LAMEA
  • Brazil
  • Saudi Arabia
  • UAE
  • South Africa
  • LAMEA
KEY MARKET PLAYERS
  • Royal Dutch Shell PLC
  • ExxonMobil Corporation
  • British Petroleum (Bp) PLC
  • Chevron Corporation
  • Total SA
  • Idemitsu Kosan Co. Ltd.
  • Sinopec Limited
  • Lukoil, Petroliam Nasional Berhad (Petronas)
  • Indian Oil Corporation Ltd.
The other players in the value chain include Croda International PLC., Penrite Oil, Liqui Moly GmbH, Rock Valley Oil and Chemical Co, and Peak Lubricants Pty Ltd., and others.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Chevron Corporation
  • ExxonMobil Corporation
  • Idemitsu Kosan Co. Ltd.
  • Lukoil
  • Royal Dutch Shell PLC
  • Sinopec Limited
  • MORE
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.5. Analyst Tools And Models

Chapter 2: Executive Summary
2.1. Key Findings of The Study
2.2. CXO Perspective

Chapter 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
3.4.1. Drivers
3.4.1.1. Growth In Automotive Production And Sales
3.4.1.2. Growing Popularity of Synthetic Lubricants Among Consumer
3.4.1.3. Developing Global Transportation Infrastructure
3.4.2. Restraints
3.4.2.1. Fluctuating Raw Material Prices
3.4.3. Opportunity
3.4.3.1. 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

Chapter 4: Global Synthetic Lubricants Market, By Base Oil
4.1. Overview
4.1.1. Market Size And Forecast By Base Oil
4.2. Polyalkylene Glycol (Pag)
4.2.1. Market Size And Forecast, By Region
4.2.2. Market Share Analysis, By Country
4.3. Polyalphaolefin (Pao)
4.3.1. Market Size And Forecast, By Region
4.3.2. Market Share Analysis, By Country
4.4. Esters
4.4.1. Market Size And Forecast, By Region
4.4.2. Market Share Analysis, By Country

Chapter 5: Global Synthetic Lubricants Market By Product
5.1.1. Market Size And Forecast By Product
5.2. Engine Oil
5.2.1. Market Size And Forecast, By Region
5.2.2. Market Share Analysis, By Country
5.3. Hydraulic Fluid
5.3.1. Market Size And Forecast, By Region
5.3.2. Market Share Analysis, By Country
5.4. Metalworking Fluid
5.4.1. Market Size And Forecast, By Region
5.4.2. Market Share Analysis, By Country
5.5. Compressor Oil
5.5.1. Market Size And Forecast, By Region
5.5.2. Market Share Analysis, By Country
5.6. Gear Oil (Gear & Brake Oil)
5.6.1. Market Size And Forecast, By Region
5.6.2. Market Share Analysis, By Country
5.7. Transmission Fluid
5.7.1. Market Size And Forecast, By Region
5.7.2. Market Share Analysis, By Country
5.8. Turbine Oil
5.8.1. Market Size And Forecast, By Region
5.8.2. Market Share Analysis, By Country
5.9. Others
5.9.1. Market Size And Forecast, By Region
5.9.2. Market Share Analysis, By Country

Chapter 6: Global Synthetic Lubricants Market, By End User
6.1.1. Market Size And Forecast By End User
6.2. Automotive
6.2.1. Market Size And Forecast, By Region
6.2.2. Market Share Analysis, By Country
6.3. Industrial
6.3.1. Market Size And Forecast, By Region
6.3.2. Market Share Analysis, By Country
6.4. Others
6.4.1. Market Size And Forecast, By Region
6.4.2. Market Share Analysis, By Country

Chapter 7: Global Synthetic Lubricants Market, By Region
7.1. Overview
7.1.1. Market Size And Forecast By Region
7.2. North America
7.2.1. Market Size And Forecast By Base Oil
7.2.2. Market Size And Forecast By Product
7.2.3. Market Size And Forecast By End User
7.2.4. Market Size And Forecast By Country
7.2.5. U.S.
7.2.5.1. Market Size And Forecast By Base Oil
7.2.6. Market Size And Forecast By Product
7.2.7. Market Size And Forecast By End User
7.2.8. Canada
7.2.8.1. Market Size And Forecast By Base Oil
7.2.9. Market Size And Forecast By Product
7.2.10. Market Size And Forecast By End User
7.2.11. Mexico
7.2.11.1. Market Size And Forecast By Base Oil
7.2.12. Market Size And Forecast By Product
7.2.13. Market Size And Forecast By End User
7.3. Europe
7.3.1. Market Size And Forecast By Base Oil
7.3.2. Market Size And Forecast By Product
7.3.3. Market Size And Forecast By End User
7.3.4. Market Size And Forecast By Country
7.3.5. Germany
7.3.5.1. Market Size And Forecast By Base Oil
7.3.6. Market Size And Forecast By Product
7.3.7. Market Size And Forecast By End User
7.3.8. France
7.3.8.1. Market Size And Forecast By Base Oil
7.3.9. Market Size And Forecast By Product
7.3.10. Market Size And Forecast By End User
7.3.11. Italy
7.3.11.1. Market Size And Forecast By Base Oil
7.3.12. Market Size And Forecast By Product
7.3.13. Market Size And Forecast By End User
7.3.14. Spain
7.3.14.1. Market Size And Forecast By Base Oil
7.3.15. Market Size And Forecast By Product
7.3.16. Market Size And Forecast By End User
7.3.17. Russia
7.3.17.1. Market Size And Forecast By Base Oil
7.3.18. Market Size And Forecast By Product
7.3.19. Market Size And Forecast By End User
7.3.20. UK
7.3.20.1. Market Size And Forecast By Base Oil
7.3.21. Market Size And Forecast By Product
7.3.22. Market Size And Forecast By End User
7.3.23. Rest of Europe
7.3.23.1. Market Size And Forecast By Base Oil
7.3.24. Market Size And Forecast By Product
7.3.25. Market Size And Forecast By End User
7.4. Asia-Pacific
7.4.1. Market Size And Forecast By Base Oil
7.4.2. Market Size And Forecast By Product
7.4.3. Market Size And Forecast By End User
7.4.4. Market Size And Forecast By Country
7.4.5. China
7.4.5.1. Market Size And Forecast By Base Oil
7.4.6. Market Size And Forecast By Product
7.4.7. Market Size And Forecast By End User
7.4.8. Japan
7.4.8.1. Market Size And Forecast By Base Oil
7.4.9. Market Size And Forecast By Product
7.4.10. Market Size And Forecast By End User
7.4.11. India
7.4.11.1. Market Size And Forecast By Base Oil
7.4.12. Market Size And Forecast By Product
7.4.13. Market Size And Forecast By End User
7.4.14. South Korea
7.4.14.1. Market Size And Forecast By Base Oil
7.4.15. Market Size And Forecast By Product
7.4.16. Market Size And Forecast By End User
7.4.17. Australia
7.4.17.1. Market Size And Forecast By Base Oil
7.4.18. Market Size And Forecast By Product
7.4.19. Market Size And Forecast By End User
7.4.20. Rest of Asia-Pacific
7.4.20.1. Market Size And Forecast By Base Oil
7.4.21. Market Size And Forecast By Product
7.4.22. Market Size And Forecast By End User
7.5. LAMEA
7.5.1. Market Size And Forecast By Base Oil
7.5.2. Market Size And Forecast By Product
7.5.3. Market Size And Forecast By End User
7.5.4. Market Size And Forecast By Country
7.5.5. Brazil
7.5.5.1. Market Size And Forecast By Base Oil
7.5.6. Market Size And Forecast By Product
7.5.7. Market Size And Forecast By End User
7.5.8. Saudi Arabia
7.5.8.1. Market Size And Forecast By Base Oil
7.5.9. Market Size And Forecast By Product
7.5.10. Market Size And Forecast By End User
7.5.11. Uae
7.5.11.1. Market Size And Forecast By Base Oil
7.5.12. Market Size And Forecast By Product
7.5.13. Market Size And Forecast By End User
7.5.14. South Africa
7.5.14.1. Market Size And Forecast By Base Oil
7.5.15. Rest of LAMEA
7.5.15.1. Market Size And Forecast By Base Oil
7.5.16. Market Size And Forecast By Product
7.5.17. Market Size And Forecast By End User

Chapter 8: Competitive Landscape
8.1. Introduction
8.1.1. Market Player Positioning, 2018
8.2. Top Winning Strategies
8.2.1. Top Winning Strategies, By Year
8.2.2. Top Winning Strategies, By Development
8.2.3. Top Winning Strategies, By Company
8.3. Product Mapping of Top 10 Player
8.4. Competitive Heatmap
8.5. Key Developments
8.5.1. New Product Launches
8.5.2. Expansions
8.5.3. Acquisition
8.5.4. Other Developments

Chapter 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
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Operating Business Segments
9.2.4. Product Portfolio
9.2.5. Business Performance
9.3. Exxon Mobil Corporation
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Operating Business Segments
9.3.4. Product Portfolio
9.3.5. Business Performance
9.3.6. Key Strategic Moves And Developments
9.4. Idemitsu Kosan Co., Ltd.
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Operating Business Segments
9.4.4. Product Portfolio
9.4.5. Business Performance
9.4.6. Key Strategic Moves And Developments
9.5. Indian Oil Corporation Ltd.
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Operating Business Segments
9.5.4. Product Portfolio
9.5.5. Business Performance
9.5.6. Key Strategic Moves And Developments
9.6. LUKoil
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Operating Business Segments
9.6.4. Product Portfolio
9.6.5. Business Performance
9.6.6. Key Strategic Moves And Developments
9.7. Petroliam Nasional Berhad (Petronas)
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Operating Business Segments
9.7.4. Product Portfolio
9.7.5. Business Performance
9.7.6. Key Strategic Moves And Developments
9.8. Royal Dutch Shell Plc
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Operating Business Segments
9.8.4. Product Portfolio
9.8.5. Business Performance
9.8.6. Key Strategic Moves And Developments
9.9. Sinopec Corp.
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Operating Business Segments
9.9.4. Product Portfolio
9.9.5. Business Performance
9.10. Total S.A.
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Operating Business Segments
9.10.4. Product Portfolio
9.10.5. Business Performance
9.10.6. Key Strategic Moves And Developments
Disclaimer
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Chevron Corporation
  • ExxonMobil Corporation
  • Idemitsu Kosan Co. Ltd.
  • Lukoil
  • Royal Dutch Shell PLC
  • Sinopec Limited
  • MORE
According to the report titled 'Synthetic Lubricants Market by Pump Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global synthetic lubricants market size 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.

Synthetic lubricants enhance the overall durability and functioning of a vehicle and safeguard it from wear & tear, friction, and high temperatures. Increase in preference of consumers toward high-quality synthetic automotive lubricants is a key factor that boosts the synthetic lubricants market growth. Automotive lubricants exemplify the futuristic technologies capable of manufacturing durable surfaces, maximizing the overall efficiency.

In the overall lubricants market, the synthetic lubricants segment is projected to have a promising future due to its greater penetration among original equipment manufacturers (OEM) and superior properties associated with it. Europe has witnessed greater penetration of synthetic lubricants market by reporting the highest luxury vehicle production and sale. This is due to the superior hardware compatibility of synthetic lubricants and lower vehicle emissions. One of the prime factors that make synthetic lubricants a promising choice is consistently growing need for advanced vehicle design to attain fuel efficiency. As a result, more advanced design requires development in the lubricants to enable new engines, power trains, and other equipment or high-end automotive component at their peak efficiency. On the split side, emergence of bio-based lubricants as substitute of synthetic lubricant is expected to restrain the market growth.

The engine oil product segment accounted for more than half of the global market, in terms of value and volume, in 2018. In response to the consistent modifications in the automotive industry, efficient lubricants are in demand globally. Thus, increase in requirement of high-tech automotive lubricants and rise in adoption of new vehicles fuel the demand for synthetic lubricants market globally.

Based on end user, the automotive segment emerged as the global leader by acquiring more than 60% market share in 2018. Several factors such as tremendous rise in the sale of passenger cars and the resulting growth in production; growth in spending power of middle-class population; and rise in repair, vehicle conditioning, and maintenance activities boost the growth of the automotive segment.

Some of the major market players operating in the global synthetic lubricants market include Royal Dutch Shell PLC, ExxonMobil Corporation, British Petroleum (Bp) PLC, Chevron Corporation, Total SA, Idemitsu Kosan Co. Ltd., Sinopec Limited, Lukoil, Petroliam Nasional Berhad (Petronas), and Indian Oil Corporation Ltd.

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.
Note: Product cover images may vary from those shown
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  • Royal Dutch Shell PLC
  • ExxonMobil Corporation
  • British Petroleum (Bp) PLC
  • Chevron Corporation
  • Total SA
  • Idemitsu Kosan Co. Ltd.
  • Sinopec Limited
  • Lukoil
  • Petroliam Nasional Berhad (Petronas)
  • Indian Oil Corporation Ltd.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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