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Synthetic Lubricants Market in Europe Will Touch $1.67 Billion Up To 2023

Author : Ronak Bora | Published Date : 2019-08-09 

Europe synthetic lubricants market price is predicted to surpass $1.67 billion by end of 2023 due to presence of key automobile and airplaneproducing firms like Audi, Airbus, Volkswagen, Rolls Royce, Mercedes and BMW.

Asia Pacific, led by India and China synthetic lubricants market, is predicted to consume 245 kilo tons by end of forecast timelineand projectedto record CAGR of 4.6%.Growing high end automobile sales in Asia Pacific is projected to stimulate industry expansion during forecast timeline. Further, superlative features and high performance of synthetic lubricants products as compared to its mineral based counter parts helps in wide use of these products in high end automotive.

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Middle East and LATAM synthetic lubricants industry provides unexplored growth avenues for industry participants. But U.S. synthetic lubricants market is equally saturated

Increasing demand from automobile and industrial sector will drive the global synthetic lubricants market size during forecast period. Growing automobiles demand on account of rising middle class income level and increasing installation of new machines are some of factors responsible to augment industry landscape.

Growing natural gas demand from various sectors including food & beverage, personal care and construction will boost the natural gas production, which will positively impact the synthetic lubricants market.

PAO contributed over 60% of global synthetic lubricants market volume share in 2015. Increasing adoption of PAO in automobile engine coupled with OEM recommendation in major brands such as Volkswagen and BMW may positively influence the industry landscape. PAG synthetic lubricants market share for 2015 was over USD 290 million. Increasing manufacturers concern towards reducing maintenance cost is expected to stimulate the industry growth in coming years.

Key industry players include exxonmobil, Fuchs, Amsoil, British Petroleum, Valvoline, Shell and Castrol. Exxonmobil, British Petroleum, Shell and Castrol were accounted for 50% of overall industry size.

Glimpse of Table of Content (ToC)

Chapter 3    Synthetic Lubricants Market Insights

3.1    Synthetic Lubricants Market Segmentation

3.2     Synthetic Lubricants Industry size and forecast

3.3    Synthetic Lubricants Industry Echosystem Analysis

3.4    Synthetic Lubricants industry impact forces

3.4.1    Growth drivers

3.4.1.1    Positive automible production outlook

3.4.1.2    Abundant availability of natural gas in GCC

3.4.2    Industry pitfalls & challenges

3.4.2.1    Cost issues

3.4.2.2    Bio-based lubricants market penetration

3.5   Growth potential analysis

3.5.1    Key Synthetic lubricants market growth opportunities

3.6    Porter’s Analysis

3.7    Synthetic lubricants company market share analysis, 2015

3.8    PESTEL Analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/synthetic-lubricants-market

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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