Synthetic Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global synthetic lubricants market reached a value of US$ 13.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 17.9 Billion by 2027, exhibiting a CAGR of 4.64% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor

A synthetic lubricant is a chemical substance used for reducing or controlling the friction between two industrial surfaces. It is formulated using artificial base oils and chemically modified materials, such as polyalthaolefin (PAO), esters and polyalkylene glycols (PAGs), and exhibits similar properties to that of petroleum-based products. Some of the commonly available synthetic lubricants include engine, hydraulic, metalworking, compressor, gear, refrigeration, turbine and transmission oils. The lubricant absorbs the heat emitting from the mechanical components and lowers the temperature of the moving parts, thereby enhancing the overall operational life of the equipment. Synthetic lubricants exhibit various advantageous properties, such as minimal energy consumption, high thermal and oxidative stability, volatility and flash points. As a result, they find extensive application across various industries, including construction, mining, oil and gas, textile, food processing, chemical and automotive

Synthetic Lubricants Market Trends:

Significant growth in the automotive industry across the globe is one of the key factors creating a positive outlook for the market. Synthetic lubricants are added to throttle position sensors (TPS) and exhaust gas recirculating (EGR) sensors, which are commonly used for monitoring electronic fuel injection and exhaust emissions. The lubricants aid in minimizing the wear and maintenance requirements of the automotive components. They are also widely used in aircraft to withstand freezing, high-altitude temperatures and excessive heat from the jet engines. Additionally, various product innovations, such as the development of biodegradable synthetic lubricants with enhanced water solubility and viscosity indexes, are acting as other growth-inducing factors. They are widely used for operating agricultural, mining, fishery, onshore and offshore drilling and subsea robotic systems with enhanced efficiency. Other factors, including rapid industrialization, along with extensive infrastructural development, especially in the developing economies, are anticipated to drive the market toward growth

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global synthetic lubricants market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, base oil and end use industry

Breakup by Product:

Engine Oil
Hydraulic Fluid
Metalworking Fluids
Compressor Oil
Gear Oil
Transmission Fluid
Turbine Oil
Others

Breakup by Base Oil:

Polyalphaolefin (PAO)
Esters
Polyalkylene Glycol (PAG)

Others

Breakup by End Use Industry:

Automotive
Power Generation
Heavy Equipment
Food and Beverage
Metallurgy and Metalworking
Chemical
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BP plc, Chevron Corporation, China Petrochemical Corporation, Exxon Mobil Corporation, Idemitsu Kosan Company Ltd., Indian Oil Corporation Limited, Lanxess AG, Lukoil, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell plc and TotalEnergies SE

Key Questions Answered in This Report:

How has the global synthetic lubricants market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global synthetic lubricants market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the base oil?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global synthetic lubricants market and who are the key players?
What is the degree of competition in the industry?

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Synthetic Lubricants Market

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Product

6.1 Engine Oil
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Hydraulic Fluid
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Metalworking Fluids
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Compressor Oil
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Gear Oil
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Transmission Fluid
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Turbine Oil
6.7.1 Market Trends
6.7.2 Market Forecast
6.8 Others
6.8.1 Market Trends
6.8.2 Market Forecast

7 Market Breakup by Base Oil

7.1 Polyalphaolefin (PAO)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Esters
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Polyalkylene Glycol (PAG)
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast

8 Market Breakup by End Use Industry

8.1 Automotive
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Power Generation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Heavy Equipment
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Food and Beverage
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Metallurgy and Metalworking
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Chemical
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast

9 Market Breakup by Region

9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast

10 SWOT Analysis

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BP plc
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Chevron Corporation
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 China Petrochemical Corporation
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Exxon Mobil Corporation
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Idemitsu Kosan Company Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Indian Oil Corporation Limited
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Lanxess AG
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Lukoil
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Petroliam Nasional Berhad (PETRONAS)
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Royal Dutch Shell plc
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 SWOT Analysis
14.3.11 TotalEnergies SE
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Synthetic Lubricants Market: Major Drivers and Challenges
Figure 2: Global: Synthetic Lubricants Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Synthetic Lubricants Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Synthetic Lubricants Market: Breakup by Product (in %), 2021
Figure 5: Global: Synthetic Lubricants Market: Breakup by Base Oil (in %), 2021
Figure 6: Global: Synthetic Lubricants Market: Breakup by End Use Industry (in %), 2021
Figure 7: Global: Synthetic Lubricants Market: Breakup by Region (in %), 2021
Figure 8: Global: Synthetic Lubricants (Engine Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Synthetic Lubricants (Engine Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Synthetic Lubricants (Hydraulic Fluid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Synthetic Lubricants (Hydraulic Fluid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Synthetic Lubricants (Metalworking Fluids) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Synthetic Lubricants (Metalworking Fluids) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Synthetic Lubricants (Compressor Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Synthetic Lubricants (Compressor Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Synthetic Lubricants (Gear Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Synthetic Lubricants (Gear Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Synthetic Lubricants (Transmission Fluid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Synthetic Lubricants (Transmission Fluid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Synthetic Lubricants (Turbine Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Synthetic Lubricants (Turbine Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Synthetic Lubricants (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Synthetic Lubricants (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Synthetic Lubricants (Polyalphaolefin-PAO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Synthetic Lubricants (Polyalphaolefin-PAO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Synthetic Lubricants (Esters) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Synthetic Lubricants (Esters) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Synthetic Lubricants (Polyalkylene Glycol-PAG) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Synthetic Lubricants (Polyalkylene Glycol-PAG) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Synthetic Lubricants (Other Base Oils) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Synthetic Lubricants (Other Base Oils) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Synthetic Lubricants (Automotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Synthetic Lubricants (Automotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Synthetic Lubricants (Power Generation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Synthetic Lubricants (Power Generation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Synthetic Lubricants (Heavy Equipment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Synthetic Lubricants (Heavy Equipment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Synthetic Lubricants (Food and Beverage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Synthetic Lubricants (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Synthetic Lubricants (Metallurgy and Metalworking) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Synthetic Lubricants (Metallurgy and Metalworking) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Synthetic Lubricants (Chemical) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Synthetic Lubricants (Chemical) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Synthetic Lubricants (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Synthetic Lubricants (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: North America: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: North America: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: United States: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: United States: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Canada: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Canada: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Asia-Pacific: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Asia-Pacific: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: China: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: China: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Japan: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Japan: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: India: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: India: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: South Korea: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: South Korea: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Australia: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Australia: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Indonesia: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Indonesia: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Europe: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Europe: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Germany: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Germany: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: France: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: France: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: United Kingdom: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: United Kingdom: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Italy: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Italy: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Spain: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Spain: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Russia: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Russia: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Others: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Others: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Latin America: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Latin America: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Brazil: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Brazil: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Mexico: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Mexico: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Others: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Others: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Middle East and Africa: Synthetic Lubricants Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Middle East and Africa: Synthetic Lubricants Market: Breakup by Country (in %), 2021
Figure 94: Middle East and Africa: Synthetic Lubricants Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 95: Global: Synthetic Lubricants Industry: SWOT Analysis
Figure 96: Global: Synthetic Lubricants Industry: Value Chain Analysis
Figure 97: Global: Synthetic Lubricants Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Synthetic Lubricants Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Synthetic Lubricants Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Synthetic Lubricants Market Forecast: Breakup by Base Oil (in Million US$), 2022-2027
Table 4: Global: Synthetic Lubricants Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 5: Global: Synthetic Lubricants Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Synthetic Lubricants Market: Competitive Structure
Table 7: Global: Synthetic Lubricants Market: Key Players

Companies Mentioned

BP plc
Chevron Corporation
China Petrochemical Corporation
Exxon Mobil Corporation
Idemitsu Kosan Company Ltd.
Indian Oil Corporation Limited
Lanxess AG
Lukoil
Petroliam Nasional Berhad (PETRONAS)
Royal Dutch Shell plc
TotalEnergies SE.

Methodology

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Synthetic Lubricants Market Trends:

Key Market Segmentation:

Breakup by Product:

Breakup by Base Oil:

Breakup by End Use Industry:

Breakup by Region:

Competitive Landscape:

Key Questions Answered in This Report:

Table of Contents

Companies Mentioned

Methodology

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