Synthetic Lubricants Market by Type (PAO, Esters, Group III, PAG), by Application (Engine Oil, Metalworking Fluids, and Industrial) and by Regions (Europe, North America, Asia-Pacific and Rest of the World) - Global Trends & Forecasts to 2020

The synthetic lubricants’ market is estimated to be worth USD 31.0 Billion in 2014 and is projected to reach USD 36.0 Billion by 2020, at a CAGR of 2.5% between 2015 and 2020. In this report, 2014 is considered as the base year and forecast period is between 2015 and 2020. The global synthetic lubricants market has been segmented on the basis of type, application, and geography. PAG is expected to play a key role in fuelling the growth of the overall market owing to its unique properties which makes them suitable for use in various industrial applications. Water soluble PAGs are widely used as lubricant in metal working fluids. They have shear stability and high viscosity indexes. Moreover, they also have heat transfer characteristics and superior oxidation and thermal stability, which make them ideal for various industrial applications.

In this report, market sizes have been derived using both bottom-up and top-down approaches. First, the market size for each product type (PAO, Esters, Group III, and PAG) for various regions (North America, APAC, Europe, ROW) and countries have been identified using secondary and primary research. The overall synthetic lubricants market sizes for various regions and countries have been calculated by adding these individual markets. Regional level synthetic lubricant market sizes have been further broken down on the basis application using percentage split gathered during the research. For future growth (CAGRs) trends of the lubricant market, synthetic lubricant penetration, application industry – automotive, metalworking fluid, transmission fluid, compressor oil, turbine fluid, and others have been analyzed.    Findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, Directors, and executives.  The breakdown of profiles of primary interviewees is depicted in the below figure:

The major synthetic lubricants manufacturers are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Fuchs Petrolub SE (Germany), Total S.A. (France), Chevron Corporation (U.S.), Lubrizol Corporation (U.S.), Idemitsu Kosan Co. Ltd (Japan), Pennzoil (U.S.), The Dow Chemical Company (U.S.), and Petroliam Nasional Berhad (Malaysia) .

The target audiences for the synthetic lubricants market report are as follows:

• Synthetic lubricants manufacturers
• Synthetic lubricants suppliers
• Synthetic lubricants formulators
• Raw material suppliers
• Service providers
• End users such as automobile, aviation, marine, and manufacturing companies

Scope of the Report:

This report categorizes the global market for synthetic lubricants on the basis of type, application, and geography.

Market Segmentation, by Type:

The synthetic lubricants market has been segmented on the basis of type into PAO, Esters, Group III (Hydro Cracking), and PAG.

Market Segmentation, by Application:

The synthetic lubricants market has been segmented on the basis of application into engine oil, metalworking fluids, and industrial.

Market Segmentation, by Geography:

The geographic analysis covers Europe, North America, Asia-Pacific, and the Rest of the World.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options (not limited to) are available for the report:

Regional Analysis

• Further breakdown of a region with respect to a particular country, additional application, and/or type

Country Information

• Additional country information (Up to 3)

Company Information

• Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stake Holders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Significant Market Opportunities (2015-2020)
    4.2 Synthetic Lubricants Market to Grow at A Moderate Rate
    4.3 Europe Synthetic Lubricants Market Scenario, By Country and Type
    4.4 Market Attractiveness, 2015–2020
    4.5 Market, By Type
    4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Synthetic Lubricants Market Segmentation
           5.2.1 Market, By Type
           5.2.2 Market, By Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Use of Synthetic Lubricants
                    5.3.1.2 Growing Automotive Industry and Industrialization in Asia-Pacific
                    5.3.1.3 Favorable Properties of PAG Such as Water Solubility, High Viscosity Indexes, and Bio-Degradability
                    5.3.1.4 Increased Consumer Awareness and Stringent Government Regulations
           5.3.2 Restraints
                    5.3.2.1 Higher Cost of Synthetic Lubricants as Compared to Conventional Mineral Oils
           5.3.3 Opportunities
                    5.3.3.1 Stringent Environmental Regulations to Boost Sales of Synthetic Lubricants

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Value-Chain Analysis
           6.2.1 Raw Material
           6.2.2 Blending
           6.2.3 Distribution
           6.2.4 End User
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Strategic Benchmarking
           6.4.1 New Product Launch/Develoment/Innovation
           6.4.2 Expansions
           6.4.3 Partnerships & Collaborations

7 Synthetic Lubricants Market, By Type (Page No. - 48)
    7.1 Introduction
    7.2 PAO (Polyalphaolefin)
    7.3 Esters
    7.4 Group III (Hydro Cracking)
    7.5 PAG (Polyalkylene Glycol)

8 Market, By Application (Page No. - 58)
    8.1 Introduction
    8.2 Engine Oil
    8.3 Metalworking Fluids
    8.4 Industrial

9 Synthetic Lubricants Market, By Region (Page No. - 67)
    9.1 Introduction
    9.2 Europe
           9.2.1 European Synthetic Lubricants Market, By Type
           9.2.2 European Market, By Application
           9.2.3 European Market, By Country
                    9.2.3.1 Germany
                    9.2.3.2 U.K.
                    9.2.3.3 France
                    9.2.3.4 Italy
    9.3 North America
           9.3.1 North American Synthetic Lubricants Market, By Type
           9.3.2 North American Market, By Application
           9.3.3 North American Market, By Country
                    9.3.3.1 U.S.
                    9.3.3.2 Canada
                    9.3.3.3 Mexico
    9.4 Asia-Pacific
           9.4.1 Asia-Pacific Synthetic Lubricants Market, By Type
           9.4.2 Asia-Pacific Market, By Application
           9.4.3 Asia-Pacific Market, By Country
                    9.4.3.1 China
                    9.4.3.2 Japan
                    9.4.3.3 India
                    9.4.3.4 South Korea
    9.5 RoW
           9.5.1 RoW Synthetic Lubricants Market, By Type
           9.5.2 RoW Market, By Application
           9.5.3 RoW Market, By Country
                    9.5.3.1 UAE
                    9.5.3.2 Egypt
                    9.5.3.3 South Africa

10 Competitive Landscape (Page No. - 97)
     10.1 Overview
     10.2 New Product Launches: Most Popular Growth Strategy
     10.3 Maximum Developments in North America
     10.4 Maximum Developments Recorded in 2014
     10.5 Competitive Situations and Trends
             10.5.1 New Product Launches/Developments/Innovations
             10.5.2 Expansions
             10.5.3 Partnerships & Collaborations
             10.5.4 Contracts & Agreements
             10.5.5 Acquisitions
             10.5.6 Joint Ventures

11 Company Profiles (Page No. - 106)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     11.1 Introduction
     11.2 Exxonmobil Corporation
     11.3 Royal Dutch Shell PLC.
     11.4 The DOW Chemical Company
     11.5 Fuchs Petolub SE
     11.6 Total S.A.
     11.7 Idemitsu Kosan Co. Ltd
     11.8 BP PLC
     11.9 Petroliam Nasional Berhad (Petronas)
     11.10 Chevron Corporation
     11.11 Lubrizol Corporation
     11.12 Pennzoil

*Details Might Not Be Captured in Case of Unlisted Companies

12 Appendix (Page No. - 131)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Introducing RT: Real-Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports

List of Tables (90 Tables)

Table 1 Synthetic Lubricants Market, By Type
Table 2 Market, By Application
Table 3 Market Size, By Type, 2013–2020 (USD Million)
Table 4 Market Size, By Type, 2013–2020 (Kiloton)
Table 5 PAO Synthetic Lubricants Market Size, By Region, 2013–2020 (USD Million)
Table 6 PAO Market Size, By Region, 2013–2020 (Kiloton)
Table 7 Esters Synthetic Lubricant Market Size, By Region, 2013–2020 (USD Million)
Table 8 Esters Market Size, By Region, 2013–2020 (Kiloton)
Table 9 Group III (Hydro Cracking) Synthetic Lubricant Market Size, By Region, 2013–2020 (USD Million)
Table 10 Group III (Hydro Cracking) Market Size, By Region, 2013–2020 (Kiloton)
Table 11 PAG Synthetic Lubricant Market Size, By Region, 2013–2020 (USD Million)
Table 12 PAG Synthetic Lubricants Market Size, By Region, 2013–2020 (Kiloton)
Table 13 Synthetic Lubricant Market Size, By Application, 2013–2020 (USD Million)
Table 14 Synthetic Lubricants Market Size, By Application, 2013–2020 (Kiloton)
Table 15 Synthetic Lubricant Market Size in Engine Oil Application, By Region, 2013–2020 (USD Million)
Table 16 Synthetic Lubricants Market Size in Engine Oil Application, By Region, 2013–2020 (Kiloton)
Table 17 Synthetic Lubricant Market Size in Metalworking Fluids Application, By Region, 2013–2020 (USD Million)
Table 18 Synthetic Lubricants Market Size in Metalworking Fluids Application, By Region, 2013–2020 (Kiloton)
Table 19 Synthetic Lubricant Market Size in Industrial Application, By Region, 2013–2020 (USD Million)
Table 20 Synthetic Lubricants Market Size in Industrial Application, By Region, 2013–2020 (Kiloton)
Table 21 Synthetic Lubricant Market Size, By Region, 2013–2020 (USD Million)
Table 22 Synthetic Lubricants Market Size, By Region, 2013–2020 (Kiloton)
Table 23 Europe: Synthetic Lubricant Market Size, By Type, 2013-2020 (USD Million)
Table 24 Europe: Synthetic Lubricants Market Size, By Type, 2013-2020 (Kiloton)
Table 25 Europe: Synthetic Lubricant Market Size, By Application, 2013-2020 (USD Million)
Table 26 Europe: Synthetic Lubricants Market Size, By Application, 2013-2020 (Kiloton)
Table 27 Europe: Synthetic Lubricant Market Size, By Country, 2013-2020 (USD Million)
Table 28 Europe: Synthetic Lubricants Market Size, By Country, 2013-2020 (Kiloton)
Table 29 Germany: Market Size, By Type, 2013-2020 (USD Millon)
Table 30 Germany: Market Size, By Type, 2013-2020 (Kiloton)
Table 31 U.K.: Market Size, By Type, 2013-2020 (USD Millon)
Table 32 U.K.: Market Size, By Type, 2013-2020 (Kiloton)
Table 33 France: Market Size, By Type, 2013-2020 (USD Millon)
Table 34 France: Market Size, By Type, 2013-2020 (Kiloton)
Table 35 Italy: Market Size, By Type, 2013-2020 (USD Millon)
Table 36 Italy: Market Size, By Type, 2013-2020 (Kiloton)
Table 37 North America: Synthetic Lubricants Market Size, By Type, 2013-2020 (USD Million)
Table 38 North America: Market Size, By Type, 2013-2020 (Kiloton)
Table 39 North America: Market Size, By Application, 2013-2020 (USD Million)
Table 40 North America: Market Size, By Application, 2013-2020 (Kiloton)
Table 41 North America: Market Size , By Country, 2013-2020 (USD Million)
Table 42 North America: Market Size, By Country, 2013-2020 (Kiloton)
Table 43 U.S.: Market Size, By Type, 2013-2020 (USD Millon)
Table 44 U.S.: Market Size, By Type, 2013-2020 (Kiloton)
Table 45 Canada: Market Size, By Type, 2013-2020 (USD Millon)
Table 46 Canada: Market Size, By Type, 2013-2020 (Kiloton)
Table 47 Mexico: Market Size, By Type, 2013-2020 (USD Millon)
Table 48 Mexico: Market Size, By Type, 2013-2020 (Kiloton)
Table 49 Asia-Pacific: Synthetic Lubricants Market Size, By Type, 2013-2020 (USD Million)
Table 50 Asia-Pacific: Market Size, By Type, 2013-2020 (Kiloton)
Table 51 Asia-Pacific: Market Size, By Application, 2013-2020 (USD Million)
Table 52 Asia-Pacific: Market Size, By Application, 2013-2020 (Kiloton)
Table 53 Asia-Pacific: Market Size, By Country, 2013-2020 (USD Million)
Table 54 Asia-Pacific: Market Size, By Country, 2013-2020 (Kiloton)
Table 55 China: Market Size, By Type, 2013-2020 (USD Millon)
Table 56 China: Market Size, By Type, 2013-2020 (Kiloton)
Table 57 Japan: Market Size, By Type, 2013-2020 (USD Millon)
Table 58 Japan: Market Size, By Type, 2013-2020 (Kiloton)
Table 59 India: Market Size, By Type, 2013-2020 (USD Millon)
Table 60 India: Market Size, By Type, 2013-2020 (Kiloton)
Table 61 South Korea: Market Size, By Type, 2013-2020 (USD Millon)
Table 62 South Korea: Market Size, By Type, 2013-2020 (Kiloton)
Table 63 RoW: Synthetic Lubricants Market Size, By Type, 2013-2020 (USD Million)
Table 64 RoW: Market Size, By Type, 2013-2020 (Kiloton)
Table 65 RoW: Market Size, By Application, 2013-2020 (USD Million)
Table 66 RoW: Market Size, By Application, 2013-2020 (Kiloton)
Table 67 RoW: Market Size, By Country, 2013-2020 (USD Million)
Table 68 RoW: Market Size, By Country, 2013-2020 (Kiloton)
Table 69 UAE: Market Size, By Type, 2013-2020 (USD Millon)
Table 70 UAE: Market Size, By Type, 2013-2020 (Kiloton)
Table 71 Egypt: Market Size, By Type, 2013-2020 (USD Millon)
Table 72 Egypt: Market Size, By Type, 2013-2020 (Kiloton)
Table 73 South Africa: Synthetic Lubricants Market Size, By Type, 2013-2020 (USD Millon)
Table 74 South Africa: Market Size, By Type, 2013-2020 (Kiloton)
Table 75 New Product Launches, 2011–2015
Table 76 Expansions, 2011–2015
Table 77 Partnerships & Collaborations, 2011–2015
Table 78 Contracts & Agreements, 2011–2015
Table 79 Acquisitions, 2011–2015
Table 80 Joint Ventures, 2011–2015
Table 81 Exxonmobil Corporation: Products and Their Description
Table 82 Royal Dutch Shell PLC.: Products and Their Descriptions
Table 83 The DOW Chemical Comapany : Products and Their Descriptions
Table 84 Fuchs Petrolub SE : Products and Their Descriptions
Table 85 Total S.A. : Products and Their Descriptions
Table 86 BP PLC. : Products and Their Descriptions
Table 87 Petronas: Products and Their Descriptions
Table 88 Chevron Corporation: Products and Their Descriptions
Table 89 Lubrizol Corporation: Products and Their Description
Table 90 Pennzoil: Products and Their Description

List of Figures (57 Figures)

Figure 1 Synthetic Lubricants: Market Segmentation
Figure 2 Synthetic Lubricant Market, Research Design
Figure 3 Key Data From Secondary Sources
Figure 4 Key Data From Primary Sources
Figure 5 Key Industry Insights
Figure 6 Breakdown of Primary Interviews
Figure 7 Market Size Estimation: Bottom-Up Approach
Figure 8 Market Size Estimation: Top-Down Approach
Figure 9 Market Breakdown and Data Triangulation
Figure 10 Market Snapshot, By Type (2015 Vs. 2020)
Figure 11 Synthetic Lubricants Market for Industrial Application to Register Highest CAGR Between 2015 and 2020
Figure 12 Asia-Pacific to Register Highest CAGR Between 2015 and 2020
Figure 13 Europe to Dominate Synthetic Lubricants Market Between 2015 and 2020
Figure 14 Long Term Sustainibility of the Synthetic Lubricant Market Between 2015 and 2020
Figure 15 Synthetic Lubricants Market: Moderate Growth Expected Between 2015 and 2020
Figure 16 Europe Synthetic Lubricant Market: PAO Accounted for the Largest Share of the Market in 2014
Figure 17 Asia-Pacific Projected to Be the Fastest-Growing Market for Synthetic Lubricants Between 2015 and 2020
Figure 18 PAO Dominates the Market in All Regions Between 2015-2020
Figure 19 Asia-Pacific to Experience High Growth During Forecast Period
Figure 20 Drivers, Restraints and Opportunities of in the Synthetic Lubricants Market
Figure 21 Value Chain of Synthetic Lubricants Market
Figure 22 Porter’s Five Forces Analysis
Figure 23 Strategic Benchmarking: Exxonmobil Corporation Focusing on New Product Launch to Create Biodregadable Synthetic Hydraulic Oil
Figure 24 Strategic Benchmarking: Fuchs Petrolub SE and Exxonmobil Corporation Adopted Expansion to Improve Product Offerings
Figure 25 Strategic Benchmarking: Exxonmobil Corporation and Royal Dutch Shell PLC. Focused on Partnerships & Collaborations
Figure 26 PAO to Dominate the Synthetic Lubricant Market Between 2015 and 2020
Figure 27 Europe Drives the Demand of PAO in the Synthetic Lubricants Market Between 2015 and 2020
Figure 28 Europe: the Largest Market for Esters in 2015
Figure 29 Asia-Pacific to Drive Group III (Hydro Cracking) Synthetic Lubricants Market During the Forecast Period
Figure 30 Europe to Drive the PAG Demand in the Synthetic Lubricant Market Between 2015 and 2020
Figure 31 Engine Oil Application is Expected to Dominate the Synthetic Lubricant Market During 2015 and 2020
Figure 32 Europe to Dominate the Engine Oil Application of the Synthetic Lubricant Market Between 2015 and 2020
Figure 33 Increasing Demand From Manufacturing Industries to Drive the Growth of Metalworking Fluids Application During 2015 and 2020
Figure 34 North America is the Second-Largest Market for Industrial Application During 2015 and 2020
Figure 35 Regional Snapshot (2015-2020): Asia-Pacific Countries to Drive the Market
Figure 36 Europe Synthetic Lubricants Market Snapshot: Germany and U.K. Leading the European Market
Figure 37 North American Market Snapshot: Majority of Key Players Based in the U.S.
Figure 38 Asia-Pacific Market Snapshot: China and Japan Were the Largest Synthetic Lubricant Market in 2014
Figure 39 Companies Primarily Adopted Organic Growth Strategies Between 2011 and 2015
Figure 40 Key Growth Strategies Adopted in the Synthetic Lubricant Market, 2011–2015
Figure 41 North America: the Most Active Region
Figure 42 Market Developmental Share, 2011–2015
Figure 43 Regional Revenue Mix of Top 5 Market Players
Figure 44 Exxonmobil Corporation: Company Snapshot
Figure 45 Exxonmobil Corporation: SWOT Analysis
Figure 46 Royal Dutch Shell PLC.: Company Snapshot
Figure 47 Royal Dutch Shell PLC.: SWOT Analysis
Figure 48 The DOW Chemical Company: Company Snapshot
Figure 49 The DOW Chemical Company: SWOT Analysis
Figure 50 Fuchs Petrolub SE: Company Snapshot
Figure 51 Fuchs Petrolob SE: SWOT Analysis
Figure 52 Total S.A.: Company Snapshot
Figure 53 Toatal S.A.: SWOT Analysis
Figure 54 Idemitsu Kosan Co. Ltd. : Company Snapshot
Figure 55 BP PLC: Company Snapshot
Figure 56 Petronas: Company Snapshot
Figure 57 Chevron Corporation: Company Snapshot

The global synthetic lubricants market is projected to be worth USD 36.0 Billion by 2020, registering a CAGR of 2.5% between 2015 and 2020. This high growth is owed to consumer awareness in developed countries of North America and Western Europe. The majority of the garage owners, technicians, and automotive engineers in these regions are well aware of the high performance benefits offered by synthetic lubricants over conventional mineral oil lubricants. Moreover, strong OEM recommendation to use high performance lubricants coupled with the stringent emission control regulations in these countries is also driving the demand for synthetic lubricants.

The engine oil application segment dominated the synthetic lubricants market, however, the industrial application segment is projected to register the fastest growth rate in the overall market. The improved standard of living and increasing consumer awareness regarding high performance benefits offered by synthetic lubricants over the conventional mineral oil lubricants in emerging economies are contributing to the growth of the global market.

The synthetic lubricants market is classified on the basis of type: PAO, Esters, Group III (Hydro Cracking), and PAG. The synthetic lubricant market is dominated by PAO (polyalpha Olefins) because of its improved oxidative property and thermal stability. PAO are most commonly used in engine oils, hydraulic oils, transmission oils, and compressor oils application. Group III (Hydro Cracking), due to its high cost as compared to conventional base oil group, is expected register slow growth during the forecast period between 2015 and 2020.

Currently, Europe is the largest market for synthetic lubricants. However, Asia-Pacific is the fastest-growing market for synthetic lubricants due to high demand from major markets such as China, India, and Japan. The growing automotive industry in the Asia-Pacific region is also driving the market for synthetic lubricants.

The major factor restraining the growth of the synthetic lubricants market is its high cost compared to conventional mineral oils. The price of synthetic lubricants can be as high as 2-5 times that of mineral oil lubricants; and up to 5-8 times that bio-based lubricants.   Some of the important synthetic lubricants companies are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Fuchs Petrolub SE (Germany), Total S.A. (France), Chevron Corporation (U.S.), Lubrizol Corporation (U.S.), Idemitsu Kosan Co. Ltd (Japan), Pennzoil (U.S.), The Dow Chemical Company (U.S.), and Petroliam Nasional Berhad (Malaysia). The players in this market need to compete with each other with respect to prices and offering wide product range to meet the market requirements.