Global Synthetic Lubricants Market Outlook & Forecast Report 2022-2027 Featuring Key Vendors – Royal Dutch Shell, ExxonMobil, British Petroleum, Chevron, & Sinopec – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Synthetic Lubricants Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The synthetic lubricants market is expected to grow at a CAGR of 3.48% during 2021-2027.

The global synthetic lubricants market is expected to witness stagnant growth during the forecast period. The consumption of synthetic lubricants is majorly driven by automotive and transport sector.

GEOGRAPHICAL ANALYSIS

APAC is the leading market for synthetic lubricants. The region accounted for 45% market share in 2021. The growth in the region is associated with the increasing demand for automotive and high-performance industrial machinery and equipment.

APAC region consists of emerging as well as developed economies such as Japan, China, India, South Korea, and Australia. These countries have considerable demand for automotive, agricultural, and construction vehicles. APAC region is also a hub for the growth of new industrial developments such as advanced manufacturing, smart cities, smart construction, and so on.

GLOBAL SYNTHETIC LUBRICANTS MARKET SEGMENTATION

Automotive and transportation are the largest segment by end-use. Automotive and transportation synthetic lubricants accounted for 32.20% market share in 2021.

The automotive and transportation segment is expected to register a CAGR of 3.76% during the forecast period. Advantages driving the demand for synthetic lubricants in this segment are wear and tear prevention, reduced friction, proper heat dissipation, oxidation and corrosion prevention, component stress relieving, and maintaining proper engine functionality.

VENDOR ANALYSIS

Shell (US), ExxonMobil (US), British Petroleum (UK), Chevron (US), and Sinopec (China) are some of the key players in the synthetic lubricants market. The market is largely commoditized, with price serving as a significant differentiator. Manufacturers are constantly involved in developing new and sustainable products as per customer requirements and safeguard environment as well.

Developments:

• The FUCHS Group, had signed an agreement to acquire the lubricants business of Gleitmo Technik AB, and is expected to integrate it into its subsidiary FUCHS LUBRICANTS SWEDEN AB.
• Sinopec entered into the South African market by acquiring a majority stake in Chevron’s lubricant facility.
• Shell Indonesia announced investment to double the production capacity of its lubricants oil blending plant (LOBP) located in Jakarta, Indonesia. When completed the plant would produce up to 300 million liters of finished lubricants, annually.

Key Vendors

• Royal Dutch Shell
• ExxonMobil
• British Petroleum
• Chevron
• Sinopec

Other Prominent Vendors

• Total Energies
• Fuchs
• Idemitsu Kosan
• Lukoil
• Petronas
• Indian Oil
• Dow
• Morris Lubricants
• Sasol
• Valvoline
• Penrite oil
• Bharat Petroleum
• Liqui Moly
• Peak Lubricants
• Amalie Oil
• Eni
• Addinol
• Engen Petroleum
• Croda International
• Petro-Canada Lubricants

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

8 Market Opportunities & Trends

8.1 Increasing Demand for Reduction in Emission

8.2 Demand for Higher Fuel Economy Vehicles

8.3 Increasing Demand for High-Performance Lubricants

9 Market Growth Enablers

9.1 Growing Use in Automotive Sector

9.2 Increasing Use in Wind Turbine Industry

9.3 Rising Use in Electric Vehicles

10 Market Growth Restraints

10.1 Emergence of Bio-Based Lubricants

10.2 High Cost of Synthetic Lubricants

11 Market Landscape

11.1 Market Overview

11.2 Market Size & Forecast

11.3 Five Forces Analysis

11.4 Regulatory Outlook

11.5 Impact of Covid-19

12 Application

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Engine Oil

12.4 Transmission Fluids & Hydraulic Fluids

12.5 Metalworking Fluids

12.6 Grease

12.7 Others

13 End-User

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Power Generation

13.4 Automotive & Transportation

13.5 Heavy Equipment

13.6 Food & Beverage

13.7 Others

14 Type

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Polyalphaolefin (Pao)

14.4 Polyalkylene Glycol (Pag)

14.5 Esters

15 Geography

15.1 Market Snapshot & Growth Engine

15.2 Geographic Overview

For more information about this report visit https://www.researchandmarkets.com/r/u8s2ls.

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