Report Content
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical modeling and forecast
1.1.3 Industry insights and validation
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Synthetic lubricants industry 3600 synopsis, 2012-2023
Chapter 3 Synthetic Lubricants Industry Insights
3.1 Industry Segmentation
3.2 Industry size and forecast
3.3 Synthetic Lubricants Industry Echosystem Analysis
3.4 Synthetic Lubricants industry impact forces
3.4.1 Growth drivers
3.4.1.1 Positive automible production outlook
3.4.1.2 Abundant availability of natural gas in GCC
3.4.2 Industry pitfalls & challenges
3.4.2.1 Cost issues
3.4.2.2 Bio-based lubricants market penetration
3.5 Growth potential analysis
3.5.1 Key Synthetic lubricants market growth opportunities
3.6 Porter’s Analysis
3.7 Synthetic lubricants company market share analysis, 2015
3.8 PESTEL Analysis
Chapter 4 Synthetic Lubricants Product Insights
4.1 Synthetic lubricants market volume share by product, 2015 & 2023
4.2 PAO based
4.2.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
4.2.2 Market estimates and forecast, by region, 2012-2023, (Kilo Tons) (USD Million)
4.3 Ester based
4.3.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
4.3.2 Market estimates and forecast, by region, 2012-2023, (Kilo Tons) (USD Million)
4.4 PAG based
4.4.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
4.4.2 Market estimates and forecast, by region, 2012-2023, (Kilo Tons) (USD Million)
Chapter 5 Synthetic Lubricants Application Insights
5.1 Synthetic lubricants market volume share by application, 2015 & 2023
5.2 Engine oils
5.2.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
5.2.2 Market estimates and forecast by region, 2012-2023 (Kilo Tons) (USD Million)
5.3 Heat transfer fluids (HTF)
5.3.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
5.3.2 Market estimates and forecast by region, 2012-2023 (Kilo Tons) (USD Million)
5.4 Transmission fluids
5.4.1 Market estimates and forecast, 2012-2023, (Kilo Tons) (USD Million)
5.4.2 Market estimates and forecast by region, 2012 – 2023 (Kilo Tons) (USD Million)
5.5 Metalworking fluids
5.5.1 Market estimates and forecast 2012-2023, (Kilo Tons) (USD Million)
5.5.2 Market estimates and forecast, by region, 2012-2023 (Kilo Tons) (USD Million)
5.6 Other applications
5.6.1 Market estimates and forecast , 2012-2023, (Kilo Tons) (USD Million)
5.6.2 Market estimates and forecast, by region, 2012-2023 (Kilo Tons) (USD Million)
Chapter 6 Synthetic Lubricants Regional Insights
6.1 Synthetic lubricants market volume share by region, 2015 & 2023
6.2 North America
6.2.1 Market estimates and forecast, 2012 – 2023, (Kilo Tons) (USD Million)
6.2.2 Market estimates and forecast, by product, 2012 – 2023, (Kilo Tons) (USD Million)
6.2.3 Market estimates and forecast, by application, 2012 – 2023, (Kilo Tons) (USD Million)
6.3 Europe
6.3.1 Market estimates and forecast, 2012 – 2023, (Kilo Tons) (USD Million)
6.3.2 Market estimates and forecast, by product, 2012 – 2023, (Kilo Tons) (USD Million)
6.3.3 Market estimates and forecast, by application, 2012 – 2023, (Kilo Tons) (USD Million)
6.4 Asia Pacific
6.4.1 Market estimates and forecast, 2012 – 2023, (Kilo Tons) (USD Million)
6.4.2 Market estimates and forecast, by product, 2012 – 2023, (Kilo Tons) (USD Million)
6.4.3 Market estimates and forecast, by application, 2012 – 2023, (Kilo Tons) (USD Million)
6.5 Middle East & Africa (MEA)
6.5.1 Market estimates and forecast, 2012 – 2023, (Kilo Tons) (USD Million)
6.5.2 Market estimates and forecast, by product, 2012 – 2023, (Kilo Tons) (USD Million)
6.5.3 Market estimates and forecast, by application, 2012 – 2023, (Kilo Tons) (USD Million)
6.6 Latin America
6.6.1 Market estimates and forecast, 2012 – 2023, (Kilo Tons) (USD Million)
6.6.2 Market estimates and forecast, by product, 2012 – 2023, (Kilo Tons) (USD Million)
6.6.3 Market estimates and forecast, by application, 2012 – 2023, (Kilo Tons) (USD Million)
Chapter 7 Competitive Insights
7.1 Exxon Mobil
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Strategic Initiatives
7.2 Shell
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 British Petroleum
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Total
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Benchmarking
7.4.4 Strategic Initiatives
7.5 Chevron
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Benchmarking
7.5.4 Strategic Initiatives
7.6 Fuchs Group
7.6.1 Company overview
7.6.2 Financial Performance
7.6.3 Product Benchmarking
7.6.4 Strategic Initiatives
7.7 Pennzoil
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Benchmarking
7.7.4 Strategic Initiatives
7.8 Amsoil Inc.
7.8.1 Company overview
7.8.2 Financial Performance
7.8.3 Product Benchmarking
7.8.4 Strategic Initiatives
7.9 Kendall (Phillips 66)
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.9.4 Strategic initiatives
7.10 Valvoline
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Benchmarking
7.10.4 Strategic initiatives
7.11 Castrol
7.11.1 Company Overview
7.11.2 Financial Performance
7.11.3 Product Benchmarking
7.11.4 Strategic Initiatives
Synthetic Lubricants Market Size
Synthetic Lubricants Market size is expected to reach over $5 billion by 2023 with an estimated growth rate of over 4% from 2016 to 2023. Increasing demand from industrial and automobile sectors in Asia Pacific subject to installation of new machines coupled with increased branded cars sales will drive the global market during forecast period.
Growing adoption of new technologies, including fire resistant esters may favor the business growth in future. Major original equipment manufacturers have set NSF food lubrication standards for food application which will propel synthetic lubricants market share in coming years.
Synthetic oils are derived from ethylene oxides, which are procured through natural gas, tight oil, CBM, shale gas, and crude oil. Shell, Chevron, Total, Exxon Mobil and BP are integrated manufacturers, which ensures ethylene oxides supply to refining units for production PAG, ester-based and PAO synthetic lubricants.
Automotive applications may dominate the industry owing to increase in automobile sales mostly driven by the U.S., China, India, and Brazil, which will foster the synthetic lubricants market growth in future. China automobile sales increased from 9.3 million to 23 million units in 2014.
Gulf Cooperation Council natural gas production reached 369.2 BCM in 2012 from 207.5 BCM in 2005. Growth in personal care, food & beverage, automotive, and construction sectors in emerging nations including UAE, Qatar and Saudi Arabia, has shifted political emphasis towards the development of natural gas which will positively influence the synthetic lubricants market value.
Synthetic Lubricants Market Analysis
Group IV was valued over 400 kilo tons in 2015 and is expected to witness growth rate over 4% from 2016 to 2023. Wide adoption of PAO in automotive engine with OEM recommendation in brands including Volkswagen and BMW will complement the synthetic lubricants market outlook.
Ester segment is set to exceed USD 1.7 billion by 2023. Increase in ester demand in reciprocating compressors will stimulate the business growth during forecast period.
Engine oil contributed to 40% of global synthetic lubricants market share in 2015 and is expected to witness growth rate at over 4% by 2023. It offers excellent firm protection, high operating temperature range and increased drain interval.
Synthetic lubricants market share demand from heat transfer fluids is expected to exceed USD 1.5 billion by 2023. These are primarily used for water removals in O&G and chemical plants. Automatic transmission fluids are used to execute various functions including torque conversion, valve operation, gear oiling and brake band friction and as hydraulic fluid in power steering.
Asia Pacific led by India and China is expected to reach over 200 kilo tons by 2023 with 4.6% CAGR anticipation from 2016 to 2023. Increasing automobile sales is predicted to stimulate the synthetic lubricants market statistics in future. It has wide applications in automobile industry subject to its superior properties with high performance when compared with mineral products.
Europe is set to surpass $1,000 million by 2023 subject to existence of major automotive engineering workshops including Mercedes, BMW, Rolls Royce, VW, Audi, and Airbus. Latin America and Middle East offers a high growth potential for industry players.
Synthetic Lubricants Market Share
Key industry players include:
ExxonMobil and BP accounted for 50% of synthetic lubricants industry revenue in 2015.
High fiber cost when compared with mineral oil and increasing demand for mineral oil from small scale manufactures mainly in Asia Pacific will hamper the synthetic lubricants market growth.
Industry Background
Synthetic lubricants are procured from pure chemicals rather than refined from crude oil. They can be used in both high and low temperatures. They improve oxidation resistance, thermal stability, low-temperature properties and reduce residue formation, flammability, and lower evaporation losses. They also help to reduce fiction and thus improve fuel efficiency and equipment life. Increasing demand for automobiles coupled with rising middle-class economy is expected to drive the synthetic lubricants business growth during forecast period.
Synthetic Lubricants market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in Kilo Tons and USD Million from 2012 to 2023, for the following segments:
By Product
By Application
The above information is provided on a regional and country basis for the following:
By Region