Global Synthetic Lubricants
Market Report
2025
Synthetic Lubricants market was valued at USD 17.9 billion in 2022 and will reach USD 23.57 billion by 2030, registering a CAGR of 3.5% for the forecast period 2023-2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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The global Synthetic Lubricants market was valued at USD 17.9 billion in 2022 and will reach USD 23.57 billion by 2030, registering a CAGR of 3.5% for the forecast period 2023-2030.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Synthetic Lubricants Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 5.64% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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Market Split by End-Use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Synthetic Lubricants Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Synthetic Lubricants are composed of oil components that have been artificially manufactured by reaction of often petroleum-based chemical compounds rather than whole crude oil. Synthetic lubricants are used as substitutes for petroleum-refined oils when operating at extreme temperatures. Synthetic lubricants have excellent low-temperature fluidity, high viscosity, low volatility, and hydrolytic stability, and are highly compatible with mineral oils. Esters, polyalphaolefins, and Polyalkylene Glycol are three types of synthetic lubricants. Synthetic oil enhances the machine running safety and durability and extension of oil change intervals. These oils are generally valued for their harsh duty and are hence used in high-speed trains, aviation, and racing cars. The increasing automotive sector and the introduction of new engines and high-end automotive parts have boosted the Synthetic Lubricants market. The introduction of bio-based lubricants in the market is likely to hinder the Synthetic Lubricants market.
According to the CEIC data, India Motor Vehicles Sales grew by 2.8% in March 2022. The rising income of the middle class and the increased population of youth is rapidly increasing the use of private vehicles. The increased use of private vehicles leads to the use of more Synthetic Lubricants products. Synthetic lubricant in vehicles controls the rusting, and friction in the engine and further cools it down. Hence, lubricants increase the shelf life of vehicles, likely boosting the automobile industry and ultimately Synthetic Lubricants.
Bio-based lubricants are not toxic to humans and aquatic environments and are easily biodegradable. Rapeseed oil, castor oil, coconut oil, and palm oil are some of the bio-lubricants used for gear lubricants, petrol engine oil, and agents in the steel industry. Bio-based lubricants are more in demand as they reduce emissions, have low maintenance and storage, have constant viscosity, and have better safety than synthetic lubricants. Growing demand for bio-based lubricants is likely to hinder the growth of the Synthetic Lubricant Market.
The outbreak of COVID-19 has witnessed a negative impact on the Synthetic Lubricants market growth. During the pandemic, automotive manufacturing and various industrial activities were temporarily closed. The low wear and tear of vehicles due to decrease usage of vehicles cause a decline in the need for lubricants. The use of private vehicles as well as commercial vehicles decreased causing a decline in demand for synthetic lubricant. During the pandemic, the automobile industry has also decreased drastically. Such factors have restrained the growth of the Synthetic Lubricants market.
Post-pandemic all the activities resumed and witnessed a positive impact. The increase in the disposal income and economic stability is leading the automobile industry which ultimately boost the demand for Synthetic Lubricants market in the coming years.
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Shell launches new range of synthetic 5W-30 oils for cars, ensures longer engine life
Shell, the world leader in finished lubricants, has launched the Shell Helix HX6 5W-30 and Shell Helix SUV 5W-30, a new range of synthetic BS-VI-compliant engine oils in India. The oils help to enhance the protection of the engine, fuel efficiency, and longer engine life for the passenger car motor oil segment.
Indian Oil launches new Servo Hypersport F5 motorcycle engine oil
Indian Oil, the oil, marketing company and market leader, has launched a new Servo Hypersport F5 fully synthetic 4T engine oil for vehicles. It is a new-generation fully synthetic multigrade lubricant, that has been formulated with fully synthetic base oils and synergistic additive systems that meet the latest international standards.
Commission OKs plant acquisition by Serbian Gazprom-owned oil company
HIP-Petrohemija LLC (HIPP) is a petrochemical company active in producing and distributing products such as ethylene, polyethylene, and synthetic rubber. The acquisition of Serbian petrochemical company HIP-Petrohemija LLC Pancevo by Serbia’s Gazprom-owned Naftna Industrija Srbije was approved by the European Commission. NIS’ acquisition of HIPP raises no competition concerns given the companies’ moderate combined market positions resulting from the proposed transaction.
Top Companies Market Share in Synthetic Lubricants Industry: (In no particular order of Rank)
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The Asia-Pacific region is the region of developing countries. The automotive industry is highly blooming in this region. Industrial development in the countries India, China, and Japan is expected to rise the demand for vehicles which will boost the automotive industry and ultimately Synthetic Lubricants in the next few years. According to the Ministry of Industry and Information Technology, over 26 million vehicles were sold in 2021, including 21.48 million passenger vehicles, an increase of 7.1% from 2020 in China. Hence, the growing demand for vehicles from China will boost the consumption of synthetic oil. Japan’s automotive industry has a high value on innovation and quality likely to boost Synthetic Lubricants. All such components make the Asia-Pacific region dominate the Synthetic Lubricants market during the forecast period.
The current report Scope analyzes Synthetic Lubricants Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Synthetic Lubricants Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Synthetic Lubricants Industry growth. Synthetic Lubricants market has been segmented with the help of its Type, Application End-Use Industry, and others. Synthetic Lubricants market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on type, the Synthetic Lubricants market is divided into Esters, Polyalphaolefins, and Polyalkylene Glycol. Polyalphaolefins are synthetic base oil that is cheaper as compared to other base oils and hence used in automotive and industrial lubricants. PAOs are biodegradable and give low volatility, better low-temperature performance, and hydrolytic stability which increase their use in the drilling industry. Increasing the use of PAOs in gear oils and bearing oils working both in cold as well as high temperatures will boost the Synthetic Lubricants industry during the forecast period.
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By application, the market is segmented into Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, and Turbine oil. Engine oil is used for the lubrication of the internal combustion engines. The main function of engine oil is to reduce friction and wear on moving parts. It helps in cleaning and cooling the engine. Hence changing engine oil at equal interval of time increase the lifespan of the vehicle. Engine oil helps in slowing done the corrosion and avoids rusting of parts. Using engine oils reduces pollution by avoiding friction and fuel consumption. The growing automotive industry increases the demand for engine oil and hence is expected to continue its dominance during the forecast period.
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By end-use industry, the market is divided into Automotive Manufacturing, Construction, Food Processing, Mining, Metal Production, Power Generation, Chemical, Marine, Oil & Gas, Textile, and Others. Synthetic lubricants are majorly used in engine parts as they are in constant contact with moving parts at high speeds. These lubricants are the only protective barrier between these engine components. Hence all wear and tear of the vehicle depend on the synthetic oil used. Hence growing use of synthetic lubricants is likely to dominate the automobile industry during the forecast period.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Synthetic Lubricants Market is witnessing significant growth in the near future.
In 2023, the Esters segment accounted for noticeable share of global Synthetic Lubricants Market and is projected to experience significant growth in the near future.
The Engine oil segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies BP Lubricants Pvt. Ltd. , BP PLC and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Esters, Polyalphaolefins, Polyalkylene Glycol |
Application | Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, Turbine oil |
End-Use Industry | Automotive Manufacturing, Construction, Food Processing, Mining, Metal Production, Power Generation, Chemical, Marine, Oil & Gas, Textile |
List of Competitors | BP Lubricants Pvt. Ltd., Royal Dutch Shell PLC, BP PLC, Chevron Corporation, Exxon Mobil Corporation, LANXESS, Total SA, Valvoline, Sinopec Limited., FUCHS, Pennzoil, Motul, Phillips 66 Company, AMSOIL INC. |
This chapter will help you gain GLOBAL Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review Global Synthetic Lubricants Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review North America Synthetic Lubricants Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review Europe Synthetic Lubricants Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review Asia Pacific Synthetic Lubricants Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review South America Synthetic Lubricants Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Synthetic Lubricants. Further deep in this chapter, you will be able to review Middle East and Africa Synthetic Lubricants Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Synthetic Lubricants. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by Application Analysis 2021 - 2033
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Chapter 12 Market Split by End-Use Industry Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Synthetic Lubricants market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Esters have a significant impact on Synthetic Lubricants market? |
What are the key factors affecting the Esters and Polyalphaolefins of Synthetic Lubricants Market? |
What is the CAGR/Growth Rate of Engine oil during the forecast period? |
By type, which segment accounted for largest share of the global Synthetic Lubricants Market? |
Which region is expected to dominate the global Synthetic Lubricants Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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