DUBLIN, September 25, 2017 /PRNewswire/ --
The "Global Synthetic Lubricants Market 2017-2021" report has been added to Research and Markets' offering.
The global synthetic lubricants market to grow at a CAGR of 3.17% during the period 2017-2021.
Global Synthetic Lubricants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Emergence of bio-based environment-friendly lubricants. The development of bio-based and environment-friendly lubricants is a significant trend in the global synthetic lubricants market. Several tons of lubricants are deposited in soil and water streams because of careless disposal and leakages. Inefficient disposal has led to the emergence of various health-related issues.
According to the report, one of the major drivers for this market is Government initiatives for industrial development. Governments across the world undertake initiatives to accelerate industrial growth. In 2016, the European Commission (EC) initiated attempts to ensure growth by creating jobs in Europe by commissioning a new policy that favors industries such as automotive, cement, steel, and oil and gas. Funds were allocated for the development of technologies (across these industries) to accomplish cost effectiveness and process efficiency.
Further, the report states that one of the major factors hindering the growth of this market is Challenges associated with conventional PAGs. PAG includes a wide range of polymers and is largely used in lubricants. It is extensively used in applications where hydrocarbon and mineral oils do not yield effective results. The industry is researching on solutions for reducing friction in equipment.
- Exxon Mobil
- Royal Dutch Shell
Other prominent vendors
- Idemitsu Kosan
- Gulf Oil India
- Lubrication Engineers
- The Dow Chemical Company
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Type
Part 07: Market Segmentation By Application
Part 08: Geographical Segmentation
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Key Vendor Analysis
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/c54vjt/global_synthetic
Laura Wood, Senior Manager
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SOURCE Research and Markets