Market Overview:
The global synthetic lubricating oil market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for synthetic lubricants from various end-use industries, such as automotive, industrial, and commercial vehicles. In addition, the growing awareness about the benefits of using synthetic lubricants is also contributing to the growth of this market. Based on type, the global synthetic lubricating oil market can be segmented into organic esters, synthetic hydrocarbons, polyethers, polysiloxanes (silicone oils), and containing oils. Of these segments, organic esters are expected to account for a major share of the global market in terms of volume during the forecast period. This segment is projected to grow at a CAGR of 6% during 2018-2030 owing to its superior properties such as high thermal stability and low volatility compared with other types of synthetics. Synthetic hydrocarbons are another key type segment in this market and are projected witness highest growth rate over next 10 years on account high performance coupled with environmental friendliness . In terms application ,industrial use accounted largest share followed by commercial vehicles in 2017 . However ,commercial vehicle application anticipated register fastest CAGR over next 10 years due rising demand for transportation across globe .
Product Definition:
A synthetic lubricating oil is a man-made lubricant that is designed to reduce friction and wear in mechanical devices. Synthetic oils are often used in applications where traditional mineral oils are not sufficient, such as high-temperature or extreme-pressure environments.
Organic Esters:
Organic esters are a group of compounds derived from vegetable oils and animal fats. They are used as lubricants in the automotive industry, where they find application as hydraulic fluids, metal working fluids (MWF), and greases. The growth factor for these products is their ability to reduce friction in various applications such as engine oil, brake fluid or fuel additives among others.
Synthetic Hydrocarbons:
Synthetic hydrocarbons are petroleum-based chemicals that are processed to form paraffins, waxes and polyolefins. They have a similar structure to natural hydrocarbons but different chemical properties. Synthetic lubricating oils contain very few if any contaminants such as metal particles or other organic compounds.
Application Insights:
The industrial use segment led the global market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. Growing industrialization across developing countries including China, India, and Brazil is expected to propel industry growth over the coming years.
The commercial vehicles segment accounted for 22% of total market share in terms of volume in 2017 owing to growing demand from passenger cars as well as trucks & buses operating on roads across various regions globally. Moreover, increasing penetration of commercial vehicles such as trucks and tankers along with railways are anticipated to augment industry growth over the coming years. Increasing investments by governments worldwide for improving public transportation systems are further likely to boost product demand globally during this period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid industrialization, which has led to an increasing demand for synthetic lubes. In addition, rising disposable income levels and changing consumer preferences are likely to propel product demand in emerging economies such as China and India over the coming years.
The Asia Pacific regional market was followed by Europe in terms of consumption with a share of 23.4%in 2017 owing to high automotive production coupled with growing manufacturing industries across major countries including Germany, Italy, France, U.K.
Growth Factors:
- Increasing demand from the automotive and transportation sector
- Growing industrialization and urbanization in developing countries
- Rising awareness about the benefits of synthetic lubricating oil over conventional mineral oils
- Technological advancements in production processes and formulations of synthetic lubricants
- Stringent environmental regulations to promote use of synthetic lubricants
Scope Of The Report
Report Attributes
Report Details
Report Title
Synthetic Lubricating Oil Market Research Report
By Type
Organic Esters, Synthetic Hydrocarbons, Polyether, Polysiloxane (silicone oil), Containing Oil, Phosphate
By Application
Industrial Use, Commercial Vehicles, Others
By Companies
Exxon Mobil, Shell, BP Castrol, Chevron, Total, Idemitsu Kosan, BASF, Fuchs, Ashland Valvoline, JX, Lukoil, Petronas, Lanxess, Amsoil, Pertamina, CNPC, Sinopec, Delian Group, Original Chemical, LOPAL, GAOKE PETROCHEMICAL, COPTON
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Synthetic Lubricating Oil Market Report Segments:
The global Synthetic Lubricating Oil market is segmented on the basis of:
Types
Organic Esters, Synthetic Hydrocarbons, Polyether, Polysiloxane (silicone oil), Containing Oil, Phosphate
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Use, Commercial Vehicles, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Exxon Mobil
- Shell
- BP Castrol
- Chevron
- Total
- Idemitsu Kosan
- BASF
- Fuchs
- Ashland Valvoline
- JX
- Lukoil
- Petronas
- Lanxess
- Amsoil
- Pertamina
- CNPC
- Sinopec
- Delian Group
- Original Chemical
- LOPAL
- GAOKE PETROCHEMICAL
- COPTON
Highlights of The Synthetic Lubricating Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Organic Esters
- Synthetic Hydrocarbons
- Polyether
- Polysiloxane (silicone oil)
- Containing Oil
- Phosphate
- By Application:
- Industrial Use
- Commercial Vehicles
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Synthetic Lubricating Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Synthetic lubricating oil is a petroleum-based product that is designed to replace traditional engine oils. It is made up of synthetic base oils and additives, which allow it to resist fouling and oxidation. Synthetic lubricating oil can be used in both conventional and alternative fuel engines.
Some of the major players in the synthetic lubricating oil market are Exxon Mobil, Shell, BP Castrol, Chevron, Total, Idemitsu Kosan, BASF, Fuchs, Ashland Valvoline, JX, Lukoil, Petronas, Lanxess, Amsoil, Pertamina, CNPC, Sinopec, Delian Group, Original Chemical, LOPAL, GAOKE PETROCHEMICAL, COPTON.
The synthetic lubricating oil market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Synthetic Lubricating Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Synthetic Lubricating Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Synthetic Lubricating Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Synthetic Lubricating Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Synthetic Lubricating Oil Market Size & Forecast, 2018-2028
4.5.1 Synthetic Lubricating Oil Market Size and Y-o-Y Growth
4.5.2 Synthetic Lubricating Oil Market Absolute $ Opportunity
Chapter 5 Global Synthetic Lubricating Oil Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Synthetic Lubricating Oil Market Size Forecast by Type
5.2.1 Organic Esters
5.2.2 Synthetic Hydrocarbons
5.2.3 Polyether
5.2.4 Polysiloxane (silicone oil)
5.2.5 Containing Oil
5.2.6 Phosphate
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Synthetic Lubricating Oil Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Synthetic Lubricating Oil Market Size Forecast by Applications
6.2.1 Industrial Use
6.2.2 Commercial Vehicles
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Synthetic Lubricating Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Synthetic Lubricating Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Synthetic Lubricating Oil Analysis and Forecast
9.1 Introduction
9.2 North America Synthetic Lubricating Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Synthetic Lubricating Oil Market Size Forecast by Type
9.6.1 Organic Esters
9.6.2 Synthetic Hydrocarbons
9.6.3 Polyether
9.6.4 Polysiloxane (silicone oil)
9.6.5 Containing Oil
9.6.6 Phosphate
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Synthetic Lubricating Oil Market Size Forecast by Applications
9.10.1 Industrial Use
9.10.2 Commercial Vehicles
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Synthetic Lubricating Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Synthetic Lubricating Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Synthetic Lubricating Oil Market Size Forecast by Type
10.6.1 Organic Esters
10.6.2 Synthetic Hydrocarbons
10.6.3 Polyether
10.6.4 Polysiloxane (silicone oil)
10.6.5 Containing Oil
10.6.6 Phosphate
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Synthetic Lubricating Oil Market Size Forecast by Applications
10.10.1 Industrial Use
10.10.2 Commercial Vehicles
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Synthetic Lubricating Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Synthetic Lubricating Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Synthetic Lubricating Oil Market Size Forecast by Type
11.6.1 Organic Esters
11.6.2 Synthetic Hydrocarbons
11.6.3 Polyether
11.6.4 Polysiloxane (silicone oil)
11.6.5 Containing Oil
11.6.6 Phosphate
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Synthetic Lubricating Oil Market Size Forecast by Applications
11.10.1 Industrial Use
11.10.2 Commercial Vehicles
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Synthetic Lubricating Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Synthetic Lubricating Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Synthetic Lubricating Oil Market Size Forecast by Type
12.6.1 Organic Esters
12.6.2 Synthetic Hydrocarbons
12.6.3 Polyether
12.6.4 Polysiloxane (silicone oil)
12.6.5 Containing Oil
12.6.6 Phosphate
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Synthetic Lubricating Oil Market Size Forecast by Applications
12.10.1 Industrial Use
12.10.2 Commercial Vehicles
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Synthetic Lubricating Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Synthetic Lubricating Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Synthetic Lubricating Oil Market Size Forecast by Type
13.6.1 Organic Esters
13.6.2 Synthetic Hydrocarbons
13.6.3 Polyether
13.6.4 Polysiloxane (silicone oil)
13.6.5 Containing Oil
13.6.6 Phosphate
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Synthetic Lubricating Oil Market Size Forecast by Applications
13.10.1 Industrial Use
13.10.2 Commercial Vehicles
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Synthetic Lubricating Oil Market: Competitive Dashboard
14.2 Global Synthetic Lubricating Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Exxon Mobil
14.3.2 Shell
14.3.3 BP Castrol
14.3.4 Chevron
14.3.5 Total
14.3.6 Idemitsu Kosan
14.3.7 BASF
14.3.8 Fuchs
14.3.9 Ashland Valvoline
14.3.10 JX
14.3.11 Lukoil
14.3.12 Petronas
14.3.13 Lanxess
14.3.14 Amsoil
14.3.15 Pertamina
14.3.16 CNPC
14.3.17 Sinopec
14.3.18 Delian Group
14.3.19 Original Chemical
14.3.20 LOPAL
14.3.21 GAOKE PETROCHEMICAL
14.3.22 COPTON
