Synthetic Lubricants Market Worth 36.0 Billion USD by 2020

PUNE, India, January 6, 2016 /PRNewswire/ --

The report "Synthetic Lubricants Market - by Type (PAO, Esters, Group III, PAG), by Application (Engine Oil, Metalworking Fluids, and Industrial) and by Regions (Europe, North America, Asia-Pacific and Rest of the World) - Global Trends & Forecasts to 2020", published by MarketsandMarkets, The Synthetic Lubricants Market is projected to reach USD 36.0 Billion by 2020, at a CAGR of 2.5% between 2015 and 2020. The market is driven by the growing automotive industries and industrialization in the Asia-Pacific region.

Browse 90 market Tables and 59 Figures spread through 145 Pages and in-depth TOC on "Composite Decking & Railing Market"

http://www.marketsandmarkets.com/Market-Reports/synthetic-lubricant-market-141429702.html

Early buyers will receive 10% customization on this report.

The synthetic lubricants' market is estimated to be worth USD 31.0 Billion in 2014 and is projected to reach USD 36.0 Billion by 2020, at a CAGR of 2.5% between 2015 and 2020. The increasing demand of automobiles in emerging economies such as China, India, and Indonesia is fueling the growth of the synthetic lubricants market in the region.  Another major factor contributing to the growth of synthetic lubricants is increased consumer awareness coupled with stringent government regulations.

PAO to account for the major share of synthetic lubricants market till 2020 

The synthetic lubricants' market is segmented by types, namely, PAO, Esters, Group III (Hydro Cracking), and PAG. PAO holds the major market share in global synthetic lubricants market. The factors driving the PAO synthetic lubricants market are its physical and chemical properties such as low volatility, high viscosity index, lower pour point, and better oxidative/ thermal stability.

Growing automotive industries and industrialization to drive the engine oil application segment 

The engine oil application segment is leading the synthetic lubricants market. This is owed to the rapid growth of the automotive industry in the Asia-Pacific region.  The increasing demand of automobiles can be attributed to the increasing disposable income of people and industrial growth in this region. This growth in the automotive industry ultimately contributes to the growth of PAG-based lubricants in the Asia-Pacific region.

Asia-Pacific to be the fastest-growing market during forecast period 

The synthetic lubricants market is broadly segmented into four regions, namely, Europe, North America, Asia-Pacific, and Rest of the World. Europe is the largest market for synthetic lubricants, followed by North America. Asia-Pacific is projected to be the fastest-growing market during the forecast period. Growing industrialization, backed by OEM technical demand in the region, has offered enormous opportunity for the use of synthetic lubricants in the Asia-Pacific region.

Currently, the global synthetic lubricants market is dominated by various market players such as ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Fuchs Petrolub SE (Germany), Total S.A. (France), Chevron Corporation (U.S.), Lubrizol Corporation (U.S.), Idemitsu Kosan Co. Ltd (Japan), Pennzoil (U.S.), The Dow Chemical Company (U.S.), Petroliam Nasional Berhad (Malaysia), and others.

For Further Inquiries: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=141429702

The research study is aimed at identifying emerging trends and opportunities in the global synthetic lubricants market along with a detailed classification of the market, in terms of revenue and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global synthetic lubricants market on the basis of application, type, and geography.

Browse Related Reports: 

Lubricants Market by Type (Mineral Oil Lubricants, Synthetic Lubricants, Bio-based Lubricants, and Greases), by Application (Transportation, and Industrial Machinery & Equipment) - Global Trends & Forecasts to 2019
http://www.marketsandmarkets.com/Market-Reports/lubricants-market-182046896.html

Lubricant Additives Market by Function Type (Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers & Others) and Application (Automotive & Industrial Lubricants) - Global Trends & Forecast to 2019
http://www.marketsandmarkets.com/Market-Reports/lubricant-additives-market-172993846.html

About MarketsandMarkets 

MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441

Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets