Synthetic Lubricants Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2012 To 2020

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Industry Insights 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. Download Free Request Sample @ Product Insights PAO lubricants emerged as the leading product segment for synthetic lubricants market in 2013. This trend is expected to continue over the forecast period on account of its superior properties and low cost. PAO based lubricants are compatible with other synthetic and mineral oils. This compatibility factor is anticipated to drive POA based lubricants market over the next five years. Group V ester based synthetic lubricants was the second major product segment for synthetic lubricants market. These lubricants possess high adhesive property which helps in reducing the friction between two moving surfaces. Application Insights Engine oils have been the largest application segment for synthetic lubricants market over the past few years. Increasing application scope of synthetic oils in automobiles is the key factor to drive the market. In addition, rapid growth in automotive sector in emerging nations such as India, China and Brazil is further expected to boost synthetic oils demand over the forecast period. Synthetic oils are also used as heat transfer fluids. Heat transfer fluids are the second major application segment accounting nearly 30% of the global market share. Heat transfer fluids have found wide application in heat exchangers in boilers and other machineries. Regional Insights Europe was the largest regional market for synthetic lubricants in 2013. However, this region is expected to lose its market share to Asia Pacific and South America over the next five years. Growth in end use industries such as automotives in India and China is the key factor to drive the market in Asia Pacific region. In addition, growth of aerospace industry is further expected to boost synthetic lubricants demand in near future. To browse sample reports, click here: http://www.hexaresearch.com/research-category/petrochemicals-market/ Competitive Insights Key players of synthetic lubricants market include British Petroleum, Royal Dutch Shell, Chevron Corp., Fuchs Lubricants, Exxon Mobil Corp. and Total S.A. About Hexa Research: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. For more details contact us: Michelle Thoras 1-800-489-3075? sales@hexaresearch.com http://www.hexaresearch.com