Allied Market Research

2024

Synthetic Lubricants & Functional Fluids Market

Synthetic Lubricants & Functional Fluids Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, by Synthetic Base Stock and, by End-use Industry : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Renewable, Speciality and fine chemicals

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Author's: | Eswara Prasad
Publish Date:

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Synthetic lubricants & functional fluids are manufactured using chemically modified petroleum components such as glycols, polyalphaolefins, esters, group III & IV base oils, aromatics, silicone fluids, and others. They possess high viscosity indexes, high temperature stability, low pouring points, and low traction coefficients, which make them superior to the conventional mineral oils. Superior performance is attainable using synthetic lubricants and functional fluids over conventional mineral oil in terms of low friction, high temperature performance, and higher load carrying capacity.

Superior properties of synthetic lubricants & functional fluids over conventional minerals is the key factor that drives the market growth. Increase in demand for higher fuel economy fuels the use of high-quality motor and gear oils. Thus, requirement of high-performance products, reduced maintenance, minimal disposal problems, and stringent environmental regulations for CO2 emissions further accelerates the market growth. Increase in pace of industrialization is expected to provide new opportunities for the market players. However, high cost of synthetic lubricants & functional fluids hampers the market growth.

The global synthetic lubricants & functional fluids market is segmented on the basis of product, synthetic base stock, end-use industry, and geography. The market segmented based on product includes engine oils, transmission & hydraulic fluids, antifreeze & deicing fluids, metalworking fluids, heat transfer fluids, and dielectric fluids. By synthetic base stock, the market is categorized into glycols, polyalphaolefins, esters, group III & IV base oils, aromatics, silicone fluids, and others. According to end-use industry, it is divided into automotive, aerospace, metals, industrial machinery, power generation, construction, process industry, and others. The report analyzes the market trends in different geographies, which include North America, Europe, Asia-Pacific, and LAMEA.

Synthetic Lubricants & Functional Fluids Market Report Highlights

Aspects Details
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By Product
  • Engine Oils
  • Transmission & Hydraulic Fluids
  • Antifreeze & Deicing Fluids
  • Metalworking Fluids
  • Heat Transfer Fluids
  • Dielectric Fluids
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By Synthetic Base Stock
  • Glycols
  • Polyalphaolefins
  • Esters
  • Group III & IV Base Oils
  • Aromatics
  • Silicone Fluids
  • Others
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By End-use Industry
  • Automotive
  • Aerospace
  • Metals
  • Industrial Machinery
  • Power Generation
  • Construction
  • Process Industry
  • Others
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By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
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Key Market Players

EXXON MOBIL, WARREN OIL COMPANY INCORPORATED, PRESTONE PRODUCTS, ASHLAND INCORPORATED, ROYAL DUTCH SHELL, AUTOPARTS HOLDINGS LIMITED, CLC LUBRICANTS COMPANY, AMSOIL INCORPORATED, CHEVRON CORPORATION, BASF SE

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Synthetic Lubricants & Functional Fluids Market

Global Opportunity Analysis and Industry Forecast, 2023-2032