Synthetic Lubricants Market

Synthetic Lubricants Market



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The synthetic lubricants market size is estimated to grow at a CAGR 1.98% rate during the forecast period. The growing automotive industry and industrialization are one of the major drivers for the growth of global synthetic lubricant market. Stringent environmental regulations to reduce carbon emission are expected to boost the demand for synthetic lubricants. The consumption of synthetic lubricants is increasing due to their properties, such as water solubility, high viscosity indexes, and bio-degradability. High cost is one of the major restraints observed in the market.

PAO is expected to remain the largest segment in overall market during the forecast period. Growth in the market size of PAO synthetic lubricants is attributed to its improved oxidative and thermal stability benefits across engine oil, metalworking fluids, and hydraulic fluids applications.

By application type, the engine oil segment is projected to hold the largest share in the overall market. The demand for engine oil is mainly driven by the growing automotive industry, which includes personal vehicles and high cargo transportation. Rapid growth of the automotive industry, especially in the APAC region is expected to fuel the demand for this segment. Engine oil is mainly used in automobiles to reduce metal-to-metal contact and minimize overall friction and reduce damage.

Europe is anticipated to be the largest market during the forecast period. Increasing investment in blending plants for synthetic lubricants especially in European nations such as Russia and the Netherlands is driving the growth in the region. Several national ecolabels/schemes and one international standard have been developed in the recent years for setting up of requirements for the ecological and technical characteristics of lubricants. The adoption of these standards is expected to fuel the demand for synthetic lubricants in the respective regional areas.

Key players in the market include 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).

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 market growth during the forecast period?


Market Definition

Study Scope

Study Period


2. Research Methodology

Secondary Research

Primary Research

Research Design

Data Validation

Limitation and Assumptions

3. Executive Overview

4. Market Overview





5. Synthetic Lubricants Market, By End-Use Industry


Cement Production

Automotive Manufacturing


Food Processing


Metal Production

Power Generation


Oil & Gas



6. Synthetic Lubricants Market, By Type



Polyalkylene Glycol  

Group Iii 

7. Synthetic Lubricants Market, By Product Type

Hydraulic Fluids

Compressor Oil

Refrigeration Oil

Turbine Oil

Engine Oil

Metalworking Fluids

Gear Oil

Transmission Fluids

8. Synthetic Lubricants Market, By Region

North America









     Rest of Europe

Asia Pacific



     South Korea



     Rest of APAC

Middle East


     Saudi Arabia

     Rest of Middle East

Rest of the World

     Latin America


9. Company Profiles

Exxonmobil Corporation

Chevron Corporation

Fuchs Group

Sinopec Limited

Petroliam Nasional Berhad

Royal Dutch Shell PLC

British Petroleum (Bp) PLC

Total SA

Idemitsu Kosan Co. Ltd.


Indian Oil Corporation Ltd.

10. Appendix



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