+1-888-308-5802     
News Contact Us

Synthetic Lubricants Market is projected to reach USD 37.3 billion by 2023

Author : Ravi Chawat | Published Date : 2021-01-05 

Synthetic lubricants are widely used in the manufacturing and transportation sectors, such as automotive, aviation, marine, transportation equipment manufacturing, metal production, commercial machinery manufacturing, food & beverage, and rubber & plastic industries. Hence, the rapid growth in these industries is expected to contribute to the growth of the Synthetic Lubricants Market. Furthermore, the use of synthetic lubricants is very essential in the engine oil segment. The automotive industry is the largest consumer for engine oil and the rapid growth of the industry is expected to drive the demand for synthetic lubricants.

View detailed Table of Content here:

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

Engine oil was the largest application segment of the Synthetic Lubricants Market in 2018.

The engine oil segment is projected to account for the largest share of the Synthetic Lubricants Market during the forecast period, in terms of value. The demand for engine oil is mainly driven by the growing automotive industry, which includes personal vehicles and high cargo transportation. In addition, premium automobiles are engineered in a way that encourage the use of synthetic lubricants for better performance of engines. Moreover, stringent government regulations regarding the use of eco-friendly lubricants to reduce harmful emissions, is driving the market.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=141429702

High-performance properties of the PAO-based synthetic oil to drive the market of synthetic lubricants during the forecast period.

The dominance of the PAO-based synthetic oil segment is projected to continue during the forecast period, owing to its high performance in extreme conditions, high drain interval, better viscosity index, higher shear stability, and chemical resistance. The increased consumer awareness regarding OEM recommendations and favorable properties of PAO, for instance, high viscosity indexes, are expected to drive the PAO Synthetic Lubricants Market during the forecast period.

 

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

Related News

Ethyl Polysilicate Market to register 3.5% CAGR by 2025

Published Date: 2021-01-18         Author: Ravi Chawat

Ethyl Polysilicate Market share was valued at USD 485 Mn in the year 2018 and is projected to surpass a revenue of USD 670 Mn by the year 2025. The worldwide Ethyl Polysilicate Market to register a CAGR of 3.5% over the period of 2019–2025. Analysis of the report based on competitive landsc... Read More

Ceramic Inks Market to register 5.5% CAGR by 2025

Published Date: 2021-01-18         Author: Ravi Chawat

Ceramic Inks Market share was valued at USD 1.9 billion in the year 2018 and is projected to surpass a revenue of USD 2.8 billion by the year 2025. The worldwide Ceramic Inks Market to register a CAGR of 5.5% over the period of 2019–2025. Analysis of the report based on competitive landscap... Read More

Transparent Ceramics Market to register 20% CAGR by 2025

Published Date: 2021-01-18         Author: Ravi Chawat

Transparent Ceramics Market share was valued at USD 300 Mn in the year 2018 and is projected to surpass a revenue of USD 1 billion by the year 2025. The worldwide Transparent Ceramics Market to register a CAGR of 20% over the period of 2019–2025. Analysis of the report based on competitive ... Read More

© 2021 Fractovia. All Rights Reserved