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Synthetic Lubricants Market Size, Share, Trends, Analysis and Research Report 2021 to 2026
The Global Synthetic Lubricants Market size to exhibit moderate growth during the next five years.


Synthetic Lubricants
BriefingWire.com, 10/25/2021 - According to IMARC Group latest report titled” Synthetic Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Synthetic Lubricants Market size to exhibit moderate growth during the next five years. Synthetic lubricants are chemical substances utilized for reducing or controlling the friction between two surfaces. They are formulated with artificial base oils and chemically modified materials, such as esters, polyalthaolefin (PAO), polyalkylene glycols (PAGs), etc., and exhibit similar properties to that of petroleum-based products. The most commonly available synthetic lubricants include oils for engines, metalworking, compressors, hydraulics, gears, refrigeration, etc. They ensure minimal energy consumption, oxidative stability, thermal stability, etc. Consequently, synthetic lubricants are extensively used across various industries, including construction, mining, oil and gas, textile, food processing, automotive, etc.

Get a sample copy of this Report: www.imarcgroup.com/synthetic-lubricants-market/requestsample

Market Trends:

The expanding automotive industry across the globe is primarily driving the synthetic lubricants market. In line with this, the rising product utilization in throttle position sensors (TPS) and exhaust gas recirculating (EGR) sensors, which are used for monitoring electronic fuel injection and exhaust emissions, is further catalyzing the market growth. Moreover, synthetic lubricants are also gaining traction for minimizing the wear and maintenance requirements of automotive components, which is acting as another significant growth-inducing factor. Apart from this, the escalating product requirement in aircrafts to withstand high-altitude temperatures, freezing conditions, excessive heat from the jet engines, etc., is also bolstering the market growth. Furthermore, several product innovations, such as the development of biodegradable variants with enhanced water solubility and viscosity indexes, for diverse applications pertaining to agriculture, mining, onshore and offshore drilling, etc., are expected to fuel the synthetic lubricants market over the forecasted period.

View Full Report with TOC & List of Figure: www.imarcgroup.com/synthetic-lubricants-market

Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

BP plc

Chevron Corporation

China Petrochemical Corporation

Exxon Mobil Corporation

Idemitsu Kosan Company Ltd.

Synthetic Lubricants Market Segmentation:

Our report has categorized the market based on region, product, base oil, end use industry.

Breakup by Product:

Engine Oil

Hydraulic Fluid

Metalworking Fluids

Compressor Oil

Gear Oil

Transmission Fluid

Turbine Oil

Others

Breakup by Base Oil:

Polyalphaolefin (PAO)

Esters

Polyalkylene Glycol (PAG)

Others

Breakup by End Use Industry:

Automotive

Power Generation

Heavy Equipment

Food and Beverage

Metallurgy and Metalworking

Chemical

Others

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Contact US:

IMARC Group

30 N Gould St Ste R

Sheridan, WY 82801 USA - Wyoming

 
 
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