This report provides exclusive insights into the COVID-19 impact on the Synthetic Lubricants Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Synthetic Lubricants Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Synthetic Lubricants Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium
Global Research on synthetic lubricants market provides in-depth analysis of
segments and sub-segments in the global as well as regional synthetic
lubricants market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional synthetic lubricants market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global synthetic
lubricants market. According to the report, the global synthetic lubricants market
is projected to grow at a CAGR of 2.85% over the forecast period of 2019-2025.
The synthetic lubricant is a chemical
substance, used to reduce the friction between two surfaces, who are in mutual
contact and in a dynamic state. It helps to reduce the heat generation
activities between two surfaces, which elongates the lifetime of machines. The
synthetic lubricant contains a large amount of petroleum and mineral oils, and
a small amount of additives. Additives are used to reduce friction, helps to
improve the viscosity of the synthetic lubricant. There are four types of
synthetic oil-polyalphaolefin, polyalkylene glycol, esters, and hydrocracking.
There are several benefits of the
synthetic lubricants in day to day life, which is helping to grow the demand of
the synthetic lubricant. As it helps to minimize the friction as much as
possible and increase the lifetime of the products. It creates a layer of
coating on the metal products, that helps to reduce the impact of metal on metal
contact between the surfaces of the moving parts. Additionally, the coated
layer of metal products resists against the rust and corrosion. Further, good
lubricants work as a safeguard of the machine, that suspends and carry away
contaminants to the filters or other separators in the system, from where they
can be thrown out of the machine. Furthermore, lubricant absorbs the heat
generated inside the machine parts, and channelize it to outside the machine. A
good lubricant helps to maintain the operating temperature in the balance and
minimize the threat of heat-related components damage.
North America is the leading market of
synthetic lubricant, owing to the largest number of automobile production in
the world. Additionally, people in this region use the highest amount of
automobile per capita as compared to the other nation in the world. Europe is
following the North America synthetic lubricant market. San Marino leads the
Europe region in terms of consumption of the synthetic lubricant for the automobile
industry. The Asia-Pacific is expected to grow at the highest CAGR during the
forecast period, owing to the growing demand for synthetic oil in the
industrial application, automobile application, metal works, and others
The report on global synthetic
lubricants market covers segments such as type and application. On the basis of
type, the sub-markets include polyalphaolefin (PAO), polyalkylene glycol (PAG),
esters, and group iii (Hydrocracking). On the basis of application, the
sub-markets include engine oil, metalworking fluids, and others.
The report provides profiles of the
companies in the market such as Petroliam Nasional Berhad (PETRONAS), Pennzoil, Chevron
Corporation, BP p.l.c., Exxon Mobil Corporation, DowDuPont, Inc., Idemitsu Kosan Co., Ltd.,
The Lubrizol Corporation, Fuchs Petrolub SE, and Castrol Limited.
The report provides deep insights into
the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of synthetic lubricants market. Moreover, the study highlights current
market trends and provides forecast from 2019-2025. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.