Market Overview:
The global synthetic oil market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The growth of the global synthetic oil market can be attributed to the increasing demand for passenger vehicles, commercial vehicles, motorcycles and racing bicycles across the globe. Additionally, rising awareness about the benefits of using synthetic oil over conventional mineral oils is also expected to fuel the growth of this market in forthcoming years. On basis on type, full synthetic oil segment accounted for larger share in terms revenue as compared to other type segments in 2017 and it is anticipated that this trend would continue throughout forecast period i.e., 2018-2030 owing its properties including high viscosity index (VI), thermal stability and resistance against oxidation which are not found in natural oils or semi-synthetic oils.
Product Definition:
Synthetic oil is a lubricant consisting of chemical compounds that are artificially made. These oils are manufactured from various materials, including natural gas, coal, and crude oil.
Synthetic Blend Oil:
Synthetic blend oil is a combination of polyalphaolefins and omega-3 fatty acids. It has been used as an alternative to conventional petroleum based motor oils. The growth factor in the market for synthetic blend oil is increasing its usage in the manufacturing of personal care products such as skin lotions, moisturizers, body wash and soaps among others due to its characteristics such as reducing dryness, improving skin elasticity and providing smooth texture to the product.
Full Synthetic Oil:
Full Synthetic Oil (FSO) is a type of mineral oil which has been processed to remove any natural components. It is also called as Pure or Unsaturated Mineral Oil. FSO consists of molecules which have not been interrupted by any chemical reaction and contains no carbon-carbon double bonds, i.e., it does not contain anything that would make it go through a phase change when exposed to heat; instead, its molecular structure remains the same at all temperatures.
Application Insights:
Passenger vehicle was the largest application segment in 2016 and is expected to witness significant growth over the forecast period. Rising income levels, improved standard of living, and growing population have resulted in a rise in demand for passenger vehicles across various regions. This trend is expected to continue over the forecast period as consumers prefer buying new cars instead of leasing or renting them.
Commercial vehicle is also one of the major applications owing to its increasing utilization as an engine lubricant due to its superior properties such as resistance towards oxidation meaning it stays fresh even after several hours at elevated temperatures. Full synthetic oil has been found beneficial for diesel engines on account of their higher load capacity and longer life expectancy when compared with conventional petroleum-based engine oils. These aforementioned factors are anticipated to drive product demand from commercial vehicles over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for approximately 60% of the overall industry share and is anticipated to witness significant growth on account of increasing automobile production in China, India, South Korea, Japan, and Taiwan. Furthermore, rising disposable income coupled with a growing population will fuel product demand further driving regional growth.
Growth Factors:
- Increasing demand for synthetic oil in the automotive sector on account of its superior properties as compared to conventional mineral oils.
- Rising awareness about the benefits of synthetic oil among consumers, which is resulting in an increase in its adoption across different industries.
- Growing demand for high-performance lubricants from the industrial sector, owing to their ability to reduce wear and tear and improve equipment efficiency.
- Proliferation of new technologies that are requiring higher quality lubricants, such as electric vehicles and aircraft engines that run on synthetic oils instead of mineral oils or other traditional fluids like hydraulic fluid or gear oil etcetera
Scope Of The Report
Report Attributes
Report Details
Report Title
Synthetic Oil Market Research Report
By Type
Synthetic Blend Oil, Full Synthetic Oil
By Application
Passenger Vehicle, Commercial Vehicle, Motorcycle, Racing Bicycle, Other
By Companies
Mobil, Valvoline, Pennzoil, Shell Rotella, Royal Purple, Liqui Moly, AMSOIL, Castrol, Rotella, Lucas Oil, Red Line
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Synthetic Oil Market Report Segments:
The global Synthetic Oil market is segmented on the basis of:
Types
Synthetic Blend Oil, Full Synthetic Oil
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
Passenger Vehicle, Commercial Vehicle, Motorcycle, Racing Bicycle, Other
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:
- Mobil
- Valvoline
- Pennzoil
- Shell Rotella
- Royal Purple
- Liqui Moly
- AMSOIL
- Castrol
- Rotella
- Lucas Oil
- Red Line
Highlights of The Synthetic 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:
- Synthetic Blend Oil
- Full Synthetic Oil
- By Application:
- Passenger Vehicle
- Commercial Vehicle
- Motorcycle
- Racing Bicycle
- Other
- 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 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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 oil is a petroleum-based product that has been chemically altered to create a different type of oil. Synthetic oils are made from various types of hydrocarbons, including but not limited to: alkylbenzenes, aromatics, and terpenes.
Some of the key players operating in the synthetic oil market are Mobil, Valvoline, Pennzoil, Shell Rotella, Royal Purple, Liqui Moly, AMSOIL, Castrol, Rotella, Lucas Oil, Red Line.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Synthetic Oil Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Synthetic Oil Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Synthetic Oil Market - Supply Chain
4.5. Global Synthetic Oil Market Forecast
4.5.1. Synthetic Oil Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Synthetic Oil Market Size (000 Units) and Y-o-Y Growth
4.5.3. Synthetic Oil Market Absolute $ Opportunity
5. Global Synthetic Oil Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Synthetic Oil Market Size and Volume Forecast by Type
5.3.1. Synthetic Blend Oil
5.3.2. Full Synthetic Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Synthetic Oil Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Synthetic Oil Market Size and Volume Forecast by Application
6.3.1. Passenger Vehicle
6.3.2. Commercial Vehicle
6.3.3. Motorcycle
6.3.4. Racing Bicycle
6.3.5. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Synthetic Oil Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Synthetic Oil Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Synthetic Oil Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Synthetic Oil Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Synthetic Oil Demand Share Forecast, 2019-2026
9. North America Synthetic Oil Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Synthetic Oil Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Synthetic Oil Market Size and Volume Forecast by Application
9.4.1. Passenger Vehicle
9.4.2. Commercial Vehicle
9.4.3. Motorcycle
9.4.4. Racing Bicycle
9.4.5. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Synthetic Oil Market Size and Volume Forecast by Type
9.7.1. Synthetic Blend Oil
9.7.2. Full Synthetic Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Synthetic Oil Demand Share Forecast, 2019-2026
10. Latin America Synthetic Oil Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Synthetic Oil Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Synthetic Oil Market Size and Volume Forecast by Application
10.4.1. Passenger Vehicle
10.4.2. Commercial Vehicle
10.4.3. Motorcycle
10.4.4. Racing Bicycle
10.4.5. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Synthetic Oil Market Size and Volume Forecast by Type
10.7.1. Synthetic Blend Oil
10.7.2. Full Synthetic Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Synthetic Oil Demand Share Forecast, 2019-2026
11. Europe Synthetic Oil Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Synthetic Oil Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Synthetic Oil Market Size and Volume Forecast by Application
11.4.1. Passenger Vehicle
11.4.2. Commercial Vehicle
11.4.3. Motorcycle
11.4.4. Racing Bicycle
11.4.5. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Synthetic Oil Market Size and Volume Forecast by Type
11.7.1. Synthetic Blend Oil
11.7.2. Full Synthetic Oil
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Synthetic Oil Demand Share, 2019-2026
12. Asia Pacific Synthetic Oil Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Synthetic Oil Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Synthetic Oil Market Size and Volume Forecast by Application
12.4.1. Passenger Vehicle
12.4.2. Commercial Vehicle
12.4.3. Motorcycle
12.4.4. Racing Bicycle
12.4.5. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Synthetic Oil Market Size and Volume Forecast by Type
12.7.1. Synthetic Blend Oil
12.7.2. Full Synthetic Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Synthetic Oil Demand Share, 2019-2026
13. Middle East & Africa Synthetic Oil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Synthetic Oil Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Synthetic Oil Market Size and Volume Forecast by Application
13.4.1. Passenger Vehicle
13.4.2. Commercial Vehicle
13.4.3. Motorcycle
13.4.4. Racing Bicycle
13.4.5. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Synthetic Oil Market Size and Volume Forecast by Type
13.7.1. Synthetic Blend Oil
13.7.2. Full Synthetic Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Synthetic Oil Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Synthetic Oil Market: Market Share Analysis
14.2. Synthetic Oil Distributors and Customers
14.3. Synthetic Oil Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Mobil
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Valvoline
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Pennzoil
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Shell Rotella
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Royal Purple
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Liqui Moly
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. AMSOIL
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Castrol
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Rotella
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Lucas Oil
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Red Line
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
