Synthetic Lubricants Market by Type (PAO, PAG, Esters, Group III), Application (Engine Oil, Hydraulic Fluids, Metalworking Fluids, Compressor Oil, Gear Oil, Refrigeration Oil, Transmission Fluids, Turbine Oil), Region - Global Forecast to 2023
[139 Pages Report] The synthetic lubricants market size is estimated to be USD 32.2 billion in 2018 and is projected reach USD 37.3 billion by 2023, at a CAGR of 3.0%, between 2018 and 2023. The growing automotive industry and industrialization across the globe are driving the global synthetic lubricant market. Enforcement of environmental regulations on the automotive sector to reduce carbon emission is expected to boost the sale of synthetic lubricants and create various opportunities for synthetic lubricant manufacturers. The consumption of synthetic lubricants is increasing due to their properties, such as water solubility, high viscosity indexes, and bio-degradability. High cost is a major restraint observed in the synthetic lubricants market.
PAO is expected to be the largest segment of the overall synthetic lubricants market during the forecast period.
On the basis of type, the synthetic lubricants market has been segmented into PAO, PAG, esters, and group III. The PAO segment is expected to lead the synthetic lubricant market between 2018 and 2023, in terms of value. Growth in the market size of PAO synthetic lubricants is attributed to its improved oxidative and thermal stability and increasing use in various applications, such as engine oil, metalworking fluids, and hydraulic fluids.
The engine oil segment accounts for the largest share of the overall synthetic lubricants market.
On the basis of application, the synthetic lubricants market has been segmented into engine oil, hydraulic fluids, metalworking fluids, compressor oil, gear oil, refrigeration oil, transmission fluids, and turbine oil. The demand for engine oil is mainly driven by the growing automotive industry, which includes personal vehicles and high cargo transportation. This dominance is also attributed to the rapid growth of the automotive industry, especially in the APAC region. Engine oil is mainly used in automobiles to reduce metal-to-metal contact and minimize overall friction and reduce damage.
Europe is expected to account for the largest share of the synthetic lubricants market during the forecast period.
Europe is projected to be the largest synthetic lubricants market during the forecast period. Increasing investment in blending plants for synthetic lubricants in Russia and the Netherlands, among other countries, is driving the market in Europe. In addition, stringent regulations on CO2 emissions from vehicles have increased the demand for fuel-efficient lubricants, thereby, driving the synthetic lubricant market in the transportation sector. Several national ecolabels/schemes and one international standard have been developed in the recent years, setting requirements for the ecological and technical characteristics of lubricants. The adoption of these standards has increased the demand for synthetic lubricants in various industrial and automotive applications.
Key Market Players
The key players in this market are Royal Dutch Shell PLC (The Netherlands), ExxonMobil Corporation (US), British Petroleum PLC ((UK), Chevron Corporation (US), Total SA (France), Sinopec Limited (China), Lukoil (Russia), Indian Oil Corporation Ltd. (India), Fuchs Group (Germany), and Idemitsu Kosan Co. Ltd. (Japan). These players have adopted various growth strategies to expand their presence and increase their shares in the synthetic lubricants market.
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This report categorizes the global synthetic lubricants market based on type, application, and region.
On the basis of type, the synthetic lubricants market has been segmented as follows:
- Polyalphaolefin (PAO)
- Polyalkylene Glycol (PAG)
- Esters
- Group III (Hydro Cracking)
On the basis of application, the synthetic lubricants market has been segmented as follows:
- Engine Oil
- Hydraulic Fluids
- Metalworking Fluids
- Compressor Oil
- Gear Oil
- Refrigeration Oil
- Transmission Fluids
- Turbine Oil
On the basis of region, the synthetic lubricants market has been segmented as follows:
- APAC
- North America
- Europe
- Middle East & Arica
- South America
Recent Developments
- In December 2018, ExxonMobil Corporation launched Mobil 1 Truck & SUV synthetic motor oil for gasoline-fueled, light-duty trucks, and SUVs. This product maximizes engine efficiency and provides excellent protection.
- In September 2018, Royal Dutch Shell PLC renewed its agreement with BMW AG (Germany) to supply aftermarket engine oils in Europe and the Middle East & Africa till 2022. This agreement will strengthen the company's presence in Europe.
- In February 2018, British Petroleum PLC extended its agreement with Groupe Renault (France) for jointly developing new technologies and advanced mobility solutions. This agreement helped the company to expand its synthetic lubricants business in France and Europe.
Key Questions addressed by the report
- What are the major developments impacting the market?
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming applications of synthetic lubricants?
- What will be the major factors impacting the market growth during the forecast period?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Scope of the Study
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
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 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Synthetic Lubricants Market
4.2 APAC Synthetic Lubricants Market, By Application and Country
4.3 Synthetic Lubricants Market, By Region
4.4 Synthetic Lubricants Market, By Type
4.5 Synthetic Lubricants Market Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Automotive Industry and Vehicle Parc
5.2.1.2 Increasing Industrialization in Emerging Economies
5.2.2 Restraints
5.2.2.1 Rise in Demand for Alternative Fuels
5.2.3 Opportunities
5.2.3.1 Stringent Environmental Regulations
5.2.3.2 Advancements in Synthetic Lubricants Technologies
5.2.4 Challenges
5.2.4.1 High Cost of Synthetic Lubricants
5.3 Porters Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP Trends and Forecast of Major Economies
5.4.2 Trends and Forecast of Oil & Gas Industry and Its Impact on Synthetic Lubricants Market
5.4.3 Trends and Forecast of Automotive Industry and Its Impact on Synthetic Lubricants
6 Synthetic Lubricants Market, By Type
6.1 Introduction
6.2 Polyalphaolefin (PAO)
6.2.1 APAC is Projected to Drive the Market for PAO-Based Synthetic Lubricants
6.3 Esters
6.3.1 High Demand for Engine Oil Boosts the Growth of Ester-Based Synthetic Lubricants Market
6.4 Polyalkylene Glycol (Pag)
6.4.1 Increasing Demand in Metalworking Fluids to Drivethe Market for Pag Synthetic Lubricants
6.5 Group Iii (Hydrocracking)
6.5.1 Lower Prices has Resulted in Rising Demand for Group Iii Synthetic Lubricants
7 Synthetic Lubricants Market, By Product Type
7.1 Introduction
7.2 Engine Oil
7.2.1 Passenger Vehicle
7.2.2 Commercial Vehicle
7.3 Hydraulic Fluids
7.3.1 Growing Manufacturing Sector in Emerging Economies is Expected to Drive the Demand for Synthetic Hydraulic Fluids
7.4 Metalworking Fluids
7.4.1 Rise in Number of Machinery & Equipment is Expected to Drive the Market
7.5 Compressor Oil
7.5.1 Growth in Industrial Machinery & Equipment is Expected to Drive the Market
7.6 Gear Oil
7.6.1 Automotive Industry Provides Significant Growth Opportunity to the Market
7.7 Refrigeration Oil
7.7.1 Increasing Demand for Consumer Appliances Driving the Market
7.8 Transmission Fluids
7.8.1 Increasingly Stringent Environmental RegulationsTo Drive the Market
7.9 Turbine Oil
7.9.1 Growing Demand for Energy is One of the Major Drivers of the Market
7.9 Connected/Adjacent Markets
7.9.1 Metalworking Fluid
7.9.2 Heat Transfer Fluid
7.9.3 High Temperature Grease
8 Synthetic Lubricants Market, By End-Use Industry
8.1 Introduction
8.2 Construction
8.3 Mining
8.4 Metal Production
8.5 Cement Production
8.6 Power Generation
8.6 Automotive Manufacturing
8.6 Chemical
8.6 Marine (Deck Manufacturing)
8.6 Oil & Gas
8.6 Textile
8.6 Others
8.6.1 Paper
8.6.2 Paints & Coatings
8.6.3 Rubber
8.6.4 Wood
8.6.5 Glass
8.6.6 Mechanical Components
8.7 Food Processing
8.7.1 Food
8.7.1.1 Bakery
8.7.1.2 Sugar
8.7.1.3 Dairy
8.7.1.4 Meat, Poultry, and Seafood
8.7.1.5 Others
8.7.2 Beverage
8.7.3 Pharmaceuticals & Cosmetics
8.7.4 Others
9 Synthetic Lubricants Market, By Region
9.1 Introduction
9.2 Europe
9.2.1 Germany
9.2.1.1 Increase in Automotive Production Offers Opportunity for Growth of Synthetic Lubricants Market
9.2.2 UK
9.2.2.1 Increasing Investment in Infrastructure Significantly Influence the Market
9.2.3 France
9.2.3.1 Increasing Environmental Regulations Will Drive the Market in France
9.2.4 Italy
9.2.4.1 Growth in the Manufacturing Industry Will Drive the Market
9.3 North America
9.3.1 US
9.3.1.1 The US is the Largest Synthetic Lubricants Market, Globally
9.3.2 Canada
9.3.2.1 Canada is the Second-Largest Synthetic Lubricants Market in North America
9.3.3 Mexico
9.3.3.1 Increasing Manufacturing Activities are Driving the Synthetic Lubricants Market
9.4 APAC
9.4.1 China
9.4.1.1 China is the Largest Synthetic Lubricants Market in APAC
9.4.2 Japan
9.4.2.1 High Automobile Production Will Boost the Demand for Synthetic Lubricants
9.4.3 India
9.4.3.1 India is the Fastest-Growing Synthetic Lubricants Market, Globally
9.4.4 South Korea
9.4.4.1 Increasing Demand From Transportation Application is Driving the Synthetic Lubricants Market
9.5 Middle East & Africa
9.5.1 UAE
9.5.1.1 Oil & Gas and Automotive Industries are Expected to Significantly Impact the Synthetic Lubricants Market Growth
9.5.2 Egypt
9.5.2.1 Egypt is the Fastest-Growing Synthetic Lubricants Market in the Middle East & Africa
9.5.3 South Africa
9.5.3.1 Increasing Demand From Automobile Industry to Drive the Market
9.6 South America
9.6.1 Brazil
9.6.1.1 Significant Investments in Manufacturing Industry Aid the Synthetic Lubricants Market Growth
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping (Overall Market)
10.2.1 Visionary Leaders
10.2.2 Dynamic Differentiators
10.2.3 Innovators
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 Competitive Leadership Mapping (SMSE)
10.5.1 Progressive Companies
10.5.2 Responsive Companies
10.5.3 Dynamic Companies
10.5.4 Starting Blocks
10.6 Strength of Product Portfolio
10.7 Business Strategy Excellence
10.8 Market Share Analysis
10.8.1 Royal Dutch Shell PLC
10.8.2 Exxonmobil Corporation
10.8.3 BP PLC
10.9 Competitive Situation and Trends
10.9.1 Expansion
10.9.2 New Product Launch
10.9.3 Acquisition
10.9.4 Agreement
11 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 Royal Dutch Shell PLC
11.2 Exxonmobil Corporation
11.3 British Petroleum (Bp) PLC
11.4 Chevron Corporation
11.5 Total SA
11.6 Fuchs Group
11.7 Idemitsu Kosan Co. Ltd.
11.8 Sinopec Limited
11.9 Lukoil
11.10 Petroliam Nasional Berhad (Petronas)
11.11 Indian Oil Corporation Ltd.
11.12 Other Key Market Players
11.12.1 Dowdupont Inc.
11.12.2 Croda International PLC.
11.12.3 Sasol Limited
11.12.4 Phillips 66
11.12.5 Bel-Ray Company LLC.
11.12.6 Morris Lubricants
11.12.7 Penrite Oil
11.12.8 Valvoline Inc.
11.12.9 Liqui Moly GmbH
11.12.10 Bharat Petroleum
11.12.11 Rock Valley Oil and Chemical Co.
11.12.12 Peak Lubricants Pty Ltd.
11.12.13 Amalie Oil Co.
11.12.14 Eni Spa
11.12.15 Addinol
11.12.16 Lubrication Technologies Inc.
11.12.17 Engen Petroleum
11.12.18 Petro-Canada Lubricants Inc.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix
12.1 Insights From Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details
List of Tables (145 Tables)
Table 1 Annual GDP and Industrial Production Growth Rate of Key Countries in APAC and Middle East & Africa
Table 2 Trends and Forecast of GDP, 20182023 (USD Billion)
Table 3 Synthetic Lubricants Market Size, By Type, 20162023 (USD Million)
Table 4 Synthetic Lubricants Market Size, By Type, 20162023 (Kiloton)
Table 5 PAO Synthetic Lubricants Market Size, By Region, 20162023 (USD Million)
Table 6 PAO Synthetic Lubricants Market Size, By Region, 20162023 (Kiloton)
Table 7 Esters Synthetic Lubricants Market Size, By Region, 20162023 (USD Million)
Table 8 Esters Synthetic Lubricants Market Size, By Region, 20162023 (Kiloton)
Table 9 Pag Synthetic Lubricants Market Size, By Region, 20162023 (USD Million)
Table 10 Pag Synthetic Lubricants Market Size, By Region, 20162023 (Kiloton)
Table 11 Group Iii Synthetic Lubricants Market Size, By Region, 20162023 (USD Million)
Table 12 Group Iii Synthetic Lubricants Market Size, By Region,20162023 (Kiloton)
Table 13 Synthetic Lubricants Market Size, By Product Type, 20162023 (USD Million)
Table 14 Market Size, By Product Type, 20162023 (Kiloton)
Table 15 Synthetic Lubricants Market Size in Engine Oil, By Region, 20162023 (USD Million)
Table 16 Market Size in Engine Oil, By Region, 20162023 (Kiloton)
Table 17 Synthetic Lubricants Market Size in Hydraulic Fluids, By Region, 20162023 (USD Million)
Table 18 Market Size in Hydraulic Fluids, By Region, 20162023 (Kiloton)
Table 19 Synthetic Lubricants Market Size in Metalworking Fluids, By Region, 20162023 (USD Million)
Table 20 Market Size in Metalworking Fluids, By Region, 20162023 (Kiloton)
Table 21 Synthetic Lubricants Market Size in Compressor Oil, By Region, 20162023 (USD Million)
Table 22 Market Size in Compressor Oil, By Region, 20162023 (Kiloton)
Table 23 Synthetic Lubricants Market Size in Gear Oil, By Region, 20162023 (USD Million)
Table 24 Market Size in Gear Oil, By Region, 20162023 (Kiloton)
Table 25 Synthetic Lubricants Market Size in Refrigeration Oil, By Region, 20162023 (USD Million)
Table 26 Market Size in Refrigeration Oil, By Region, 20162023 (Kiloton)
Table 27 Synthetic Lubricants Market Size in Transmission Fluids, By Region, 20162023 (USD Million)
Table 28 Market Size in Transmission Fluids, By Region, 20162023 (Kiloton)
Table 29 Synthetic Lubricants Market Size in Turbine Oil, By Region, 20162023 (USD Million)
Table 30 Market Size in Turbine Oil, By Region, 20162023 (Kiloton)
Table 31 Metalworking Fluid Market Size, By Type, 20162023 (USD Million)
Table 32 Metalworking Fluid Market Size, By Type, 20162023 (Kiloton)
Table 33 Removal Fluid Market Size, By Region, 20162023 (USD Million)
Table 34 Removal Fluid Market Size, By Region, 20162023 (Kiloton)
Table 35 Protecting Fluid Market Size, By Region, 20162023 (USD Million)
Table 36 Protecting Fluid Market Size, By Region, 20162023 (Kiloton)
Table 37 Forming Fluid Market Size, By Region, 20162023 (USD Million)
Table 38 Forming Fluid Market Size, By Region, 20162023 (Kiloton)
Table 39 Treating Fluid Market Size, By Region, 20162023 (USD Million)
Table 40 Treating Fluid Market Size, By Region, 20162023 (Kiloton)
Table 41 Heat Transfer Fluid Market Size, By Type, 20162023 (USD Million)
Table 42 Heat Transfer Fluid Market Size, By Type, 20162023 (Kiloton)
Table 43 Mineral Based Heat Transfer Fluid Market Size, By Region, 20162023 (USD Million)
Table 44 Mineral Based Heat Transfer Fluid Market Size, By Region, 20162023 (Kiloton)
Table 45 Synthetic Heat Transfer Fluid Market Size, By Region, 20162023 (USD Million)
Table 46 Synthetic Heat Transfer Fluid Market Size, By Region, 20162023 (Kiloton)
Table 47 Glycol Based Heat Transfer Fluid Market Size, By Region, 20162023 (USD Million)
Table 48 Glycol Based Heat Transfer Fluid Market Size, By Region, 20162023 (Kiloton)
Table 49 High Temperature Grease Market Size, By Type, 20162023 (USD Million)
Table 50 High Temperature Grease Market Size, By Type, 20162023 (Kiloton)
Table 51 Soap Thickener Market Size, By Region, 20162023 (USD Million)
Table 52 Soap Thickener Market Size, By Region, 20162023 (Kiloton)
Table 53 Non-Soap Thickener Market Size, By Region, 20162023 (USD Million)
Table 54 Non-Soap Thickener Market Size, By Region, 20162023 (Kiloton)
Table 55 Synthetic Lubricants Market Size, By End-Use Industry, 20162023(USD Million)
Table 56 Market Size By End-Use Industry, 20162023 (Kiloton)
Table 57 Synthetic Lubricants Market Size in Construction, By Region, 20162023 (USD Million)
Table 58 Market Size in Construction, By Region, 20162023 (Kiloton)
Table 59 Synthetic Lubricants Market Size in Mining, By Region, 20162023 (USD Million)
Table 60 Market Size in Mining, By Region, 20162023 (Kiloton)
Table 61 Synthetic Lubricants Market Size in Metal Production, By Region, 20162023 (USD Million)
Table 62 Market Size in Metal Production, By Region, 20162023 (Kiloton)
Table 63 Synthetic Lubricants Market Size in Cement Production, By Region, 20162023 (USD Million)
Table 64 Market Size in Cement Production, By Region, 20162023 (Kiloton)
Table 65 Synthetic Lubricants Market Size in Power Generation, By Region, 20162023 (USD Million)
Table 66 Market Size in Power Generation, By Region, 20162023 (Kiloton)
Table 67 Synthetic Lubricants Market Size in Automotive Manufacturing, By Region, 20162023 (USD Million)
Table 68 Market Size in Automotive Manufacturing, By Region, 20162023 (Kiloton)
Table 69 Synthetic Lubricants Market Size in Chemical, By Region, 20162023 (USD Million)
Table 70 Market Size in Chemical, By Region, 20162023 (Kiloton)
Table 71 Synthetic Lubricants Market Size in Marine Manufacturing, By Region, 20162023 (USD Million)
Table 72 Market Size in Marine Manufacturing, By Region, 20162023 (Kiloton)
Table 73 Synthetic Lubricants Market Size in Oil & Gas, By Region, 20162023 (USD Million)
Table 74 Market Size in Oil & Gas, By Region, 20162023 (Kiloton)
Table 75 Synthetic Lubricants Market Size in Textile, By Region, 20162023 (USD Million)
Table 76 Market Size in Textile, By Region, 20162023 (Kiloton)
Table 77 Synthetic Lubricants Market Size in Food Processing, By Region, 20162023 (USD Million)
Table 78 Market Size in Food Processing, By Region, 20162023 (Kiloton)
Table 79 Synthetic Lubricants Market Size in Other End-Use Industry, By Region, 20162023 (USD Million)
Table 80 Market Size in Other End-Use Industry, By Region, 20162023 (Kiloton)
Table 81 Synthetic Lubricants Market Size, By Region, 20162023 (USD Million)
Table 82 Market Size, By Region, 20162023 (Kiloton)
Table 83 Europe: Synthetic Lubricants Market Size, By Country, 20162023 (USD Million)
Table 84 Europe: Market Size, By Country, 20162023 (Kiloton)
Table 85 Europe: Market Size, By Type, 20162023 (USD Million)
Table 86 Europe: Market Size, By Type, 20162023 (Kiloton)
Table 87 Europe: Market Size, By Application, 20162023 (USD Million)
Table 88 Europe: Market Size, By Application, 20162023 (Kiloton)
Table 89 Germany: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 90 Germany: Market Size, By Application, 20162023 (Kiloton)
Table 91 UK: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 92 UK: Market Size, By Application, 20162023 (Kiloton)
Table 93 France: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 94 France: Market Size, By Application, 20162023 (Kiloton)
Table 95 Italy: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 96 Italy: Market Size, By Application, 20162023 (Kiloton)
Table 97 North America: Synthetic Lubricants Market Size, By Country, 20162023 (USD Million)
Table 98 North America: Market Size, By Country, 20162023 (Kiloton)
Table 99 North America: Market Size, By Type, 20162023 (USD Million)
Table 100 North America: Market Size, By Type, 20162023 (Kiloton)
Table 101 North America: Market Size, By Application, 20162023 (USD Million)
Table 102 North America: Market Size, By Application, 20162023 (Kiloton)
Table 103 US: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 104 US: Market Size, By Application, 20162023 (Kiloton)
Table 105 Canada: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 106 Canada: Market Size, By Application, 20162023 (Kiloton)
Table 107 Mexico: Synthetic Lubricants Market Size, By Application, 20162023 (USD Million)
Table 108 Mexico: Market Size, By Application, 20162023 (Kiloton)
Table 109 APAC: Synthetic Lubricants Market Size, By Country, 20162023 (USD Million)
Table 110 APAC: Market Size, By Country, 20162023 (Kiloton)
Table 110 APAC: Market Size, By Type, 20162023 (Usd Million)
Table 111 APAC: Market Size, By Type, 20162023 (Kiloton)
Table 112 APAC: Market Size, By Application, 20162023 (Usd Million)
Table 113 APAC: Market Size, By Application, 20162023 (Kiloton)
Table 114 China: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 115 China: Market Size, By Application, 20162023 (Kiloton)
Table 116 Japan: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 117 Japan: Market Size, By Application, 20162023 (Usd Million)
Table 118 India: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 119 India: Market Size, By Application, 20162023 (Kiloton)
Table 120 South Korea: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 121 South Korea: Market Size, By Application, 20162023 (Kiloton)
Table 122 Middle East & Africa: Synthetic Lubricants Market Size, By Country, 20162023 (Usd Million)
Table 123 Middle East & Africa: Market Size, By Country, 20162023 (Kiloton)
Table 124 Middle East & Africa: Market Size, By Type, 20162023 (Usd Million)
Table 125 Middle East & Africa: Market Size, By Type, 20162023 (Kiloton)
Table 126 Middle East & Africa: Market Size, By Application, 20162023 (Usd Million)
Table 127 Middle East & Africa: Market Size, By Application, 20162023 (Kiloton)
Table 128 UAE: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 129 UAE: Market Size, By Application, 20162023 (Kiloton)
Table 130 Egypt: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 131 Egypt: Market Size, By Application, 20162023 (Kiloton)
Table 132 South Africa: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 133 South Africa: Market Size, By Application, 20162023 (Kiloton)
Table 134 South America: Market Size, By Country, 20162023 (Usd Million)
Table 135 South America: Market Size, By Country, 20162023 (Kiloton)
Table 136 South America: Market Size, By Type, 20162023 (Usd Million)
Table 137 South America: Market Size, By Type, 20162023 (Kiloton)
Table 138 South America: Market Size, By Application, 20162023 (Usd Million)
Table 139 South America: Market Size, By Application, 20162023 (Kiloton)
Table 140 Brazil: Synthetic Lubricants Market Size, By Application, 20162023 (Usd Million)
Table 141 Brazil: Market Size, By Application, 20162023 (Kiloton)
Table 142 Expansion, 20162018
Table 143 New Product Launch, 20162018
Table 144 Acquisition, 20162018
Table 145 Agreement, 20162018
List of Figures (45 Figures)
Figure 1 Synthetic Lubricants Market: Research Design
Figure 2 Synthetic Lubricant Market: Bottom-Up Approach
Figure 3 Synthetic Lubricants Market: Top-Down Approach
Figure 4 Synthetic Lubricant Market: Data Triangulation
Figure 5 PAO Segment Held the Largest Share in Synthetic Lubricants Market in 2017
Figure 6 Compressor Oil to Be the Fastest-Growing Segment in Overall Synthetic Lubricants Market
Figure 7 India to Be the Fastest-Growing Synthetic Lubricant Market
Figure 8 Europe Accounted for Largest Share of the Synthetic Lubricants Market in 2017
Figure 9 Stringent Environmental Regulations to Drive the Market
Figure 10 China Led the APAC Synthetic Lubricants Market in 2017
Figure 11 Europe Accounted for the Largest Market Share in 2017
Figure 12 PAO Segment Accounted for Largest Share in Overall Synthetic Lubricants Market
Figure 13 India to Be the Fastest-Growing Market Between 2018 and 2023
Figure 14 Overview of Factors Governing the Synthetic Lubricants Market
Figure 15 Synthetic Lubricants Market: Porters Five Forces Analysis
Figure 16 Global Oil Production, 20122017
Figure 17 Global Oil Consumption, 20122017
Figure 18 Global Motor Vehicle sales in 2017
Figure 19 Automotive (Passenger Car) sales Outlook in 2017
Figure 20 Esters Segment to Register Highest Cagr in Overall Synthetic Lubricants Market
Figure 21 Synthetic Lubricants Market to Register Highest CagrIn Compressor Oil Application
Figure 22 APAC to Be the Fastest-Growing Synthetic Lubricants Market
Figure 23 Europe: Synthetic Lubricants Market Snapshot
Figure 24 North America: Synthetic Lubricant Market Snapshot
Figure 25 APAC: Synthetic Lubricants Market Snapshot
Figure 26 Synthetic Lubricant Market (Global), Competitive Leadership Mapping, 2017
Figure 27 Synthetic Lubricants Market (SMSE), Competitive Leadership Mapping, 2017
Figure 28 Agreement Was the Key Growth Strategy Adopted By Market Players Between 2016 and 2018
Figure 29 Synthetic Lubricant Market Share, By Company (2017)
Figure 30 Royal Dutch Shell PLC: Company Snapshot
Figure 31 Royal Dutch Shell PLC: SWOT Analysis
Figure 32 Exxonmobil Corporation: Company Snapshot
Figure 33 Exxonmobil Corporation: SWOT Analysis
Figure 34 BP PLC: Company Snapshot
Figure 35 BP PLC: SWOT Analysis
Figure 36 Chevron Corporation: Company Snapshot
Figure 37 Chevron Corporation: SWOT Analysis
Figure 38 Total SA: Company Snapshot
Figure 39 Total SA: SWOT Analysis
Figure 40 Fuchs Group: Company Snapshot
Figure 41 Idemitsu Kosan Co. Ltd.: Company Snapshot
Figure 42 Sinopec Limited: Company Snapshot
Figure 43 Lukoil: Company Snapshot
Figure 44 Petronas: Company Snapshot
Figure 45 Indian Oil Corporation Ltd.: Company Snapshot
The study involves four major activities in estimating the market size of synthetic lubricants. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of each segment.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites, such as Factiva, ICIS, and Bloomberg. Findings of this study were verified through primary research by conducting extensive interviews with key officials, such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The synthetic lubricants market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the transportation and manufacturing industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the synthetic lubricants market. These methods were also used extensively to estimate the sizes of the various segments in the market. The research methodology used to estimate the market size included the following steps:
The key players in the industry were identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size, the total market was split into several segments. In order to complete the overall market engineering process and arrive at the exact statistics for all the segments, the data triangulation procedure was employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides.
Report Objectives
- To define, describe, and forecast the market size of synthetic lubricants, in terms of value and volume
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size by type and application
- To forecast the size of the market with respect to five main regions (along with key countries of each region), namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To track and analyze recent developments, such as new product launch, agreement, investment, expansion, and acquisition in the market
- To strategically profile the key market players and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers customizations according to the specific needs of the companies along with the given market data. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or an additional end-use industry
Company Information
- Detailed analysis and profiles of additional market players (up to five)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Synthetic Lubricants Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Synthetic Lubricants Market