According to the Global Synthetic Lubricants Market is accounted for $28.32 billion in 2017 and is expected to reach $45.48 billion by 2026 growing at a CAGR of 5.4% from 2017 to 2026. Some of the factors such as increase in automotive industry and Vehicle Park are propelling the market growth. However, rise in demand for alternative fuels is restricting the market growth. Advancements in synthetic lubricants technologies are creating ample opportunities for the market growth.

Synthetic lubricants are composed of synthetic base oil, thickeners and additives that provide oil lubricants and grease numerous performance advantages in comparison to the conventional mineral based lubricants. Synthetic oil is a lubricant comprising of chemical products that are produced artificially. They are manufactured from chemically modified petroleum products and can be synthesized from various raw materials. It provides superior mechanical and chemical properties to those found in traditional mineral oils. Synthetic oil acts as a substitute for lubricant refined from petroleum when operating in extreme temperatures.

On the basis of Application, the engine oil segment is mainly driven by the growing automotive industry, which includes personal vehicles and high cargo transportation. Engine oil is mainly used in automobiles to reduce metal-to-metal contact and minimize overall friction and reduce damage. This dominance is also attributed to the rapid growth of the automotive industry, especially in the Asia Pacific region.

Some of the key players in Synthetic Lubricants market include, DOW Chemical Company, Fuchs Group, Sinopec Limited, Royal Dutch Shell PLC, Indian Oil Corporation Ltd., British Petroleum (BP) PLC, Pennzoil, Total SA, Petroliam Nasional Berhad, Exxonmobil Corporation, Idemitsu Kosan Co. Ltd., Lubrizol Corporation, BP PLC, Lukoil, Chevron Corporation.

Types Covered:
• Esters
• Polyalphaolefin (PAO)
• Polyalkylene Glycol (PAG)
• Group III (Hydrocracking)
• Silicones
• Others Types

Applications Covered:
• Gear Oil
• Hydraulic Fluids
• Metalworking Fluids
• Refrigeration Oil
• Engine Oil
• Heat transfer fluids (HTF)
• Turbine Oil
• Transmission Fluids
• Compressor Oil
• Process Oil
• Hydraulic Oil
• Marine Lubricants
• Industrial Oils
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances