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Global Industry Insights on Synthetic Lubricants Market Size, Share, Analysis, Growth and Forecasts, 2012 To 2020

Posted by Admin on Jul 19, 2016 2:30:00 PM
  • On account of increasing demand from automotive and industrial applications, “synthetic lubricants market” is anticipated to witness lucrative growth over the forecast period. In addition, strong growth of automobile industry in India, China and Brazil is further expected to boost synthetic lubricants market in near future.

  • Synthetic lubricants are manufactured by chemical synthesis of group IV base oils (Polyalphaolefins) and group V base oils (esters and Polyakylene glycols). Synthetic lubricants are more superior to mineral oil lubricants on account of low pouring points, low traction coefficients, high temperature stability and high viscosity index. This superiority over mineral oils resulted in industries shift their demand towards synthetic lubricants over the past few years. This shift in demand is expected to drive the market over the forecast period. In addition, high load carrying capacity, low friction and high temperature performance of synthetic lubricants is expected to augment the market growth over the next five years. On account of increasing demand from automotive and industrial applications, synthetic lubricants market is anticipated to witness lucrative growth over the forecast period. In addition, strong growth of automobile industry in India, China and Brazil is further expected to boost synthetic lubricants market in near future. Innovative technology such as fire resistant ester based hydraulic oils has been succeeded in many industrial applications. This is expected to open new opportunities for market players in near future.   

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    PAG based lubricants have been preferred over PAO lubricants on account of similar properties and low cost. Innovation such as fire resistant hydraulic oils is expected to open new growth opportunities for ester based synthetic lubricants market over the foreseeable period. High cost of synthetic oils is anticipated to hamper the market growth in near future. 

 

On account of increasing demand from automotive and industrial applications, “synthetic lubricants market” is anticipated to witness lucrative growth over the forecast period. In addition, strong growth of automobile industry in India, China and Brazil is further expected to boost synthetic lubricants market in near future.