Synthetic Lubricants Market Share, Size, Trends, Industry Analysis Report, By Type (Polyalkylene Glycol (PAG), Polyalphaolefin (PAO), Esters, Others); By Application; By End Use; By Region; Segment Forecast, 2024- 2032

Synthetic Lubricants Market Share, Size, Trends, Industry Analysis Report, By Type (Polyalkylene Glycol (PAG), Polyalphaolefin (PAO), Esters, Others); By Application; By End Use; By Region; Segment Forecast, 2024- 2032



The global Synthetic Lubricants market size is expected to reach USD 56.92 billion by 2032, according to a new study by Polaris Market Research. The report “Synthetic Lubricants Market Share, Size, Trends, Industry Analysis Report, By Type (Polyalkylene Glycol (PAG), Polyalphaolefin (PAO), Esters, Others); By Application; By End Use; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The synthetic lubricants market is experiencing growth due to an increasing demand for specialty lubricants. These lubricants, tailored for specific applications and industries, offer superior performance and protection compared to conventional options. With industries demanding higher performance levels, there's a rising need for lubricants capable of operating under extreme conditions. Synthetic lubricants excel in providing enhanced viscosity stability, oxidation resistance, and wear protection. As machinery becomes more advanced, industries such as automotive, aerospace, marine, and manufacturing are witnessing a surge in demand for specialty lubricants to optimize equipment performance, minimize downtime, and extend service intervals.

Concerns about the environmental impact of conventional lubricants have led governments to impose stricter regulations. Synthetic lubricants offer environmental benefits such as lower volatility, reduced emissions, and longer service intervals. They produce less waste and contamination due to their resistance to degradation. Synthetic lubricants can be formulated to meet specific environmental standards, ensuring compliance with regulations. Industries are increasingly adopting synthetic lubricants to align with environmental mandates while benefiting from their superior performance.

The growth of the wind energy sector is further fueling demand for synthetic lubricants. As renewable energy sources gain traction, wind energy has seen significant expansion globally. Wind turbines, integral to wind energy systems, require efficient lubrication for optimal performance. Synthetic lubricants offer advantages such as enhanced performance in extreme temperatures and reduced maintenance needs. They also exhibit superior resistance to oxidation and corrosion, extending the lifespan of turbine components and minimizing downtime. With the increasing adoption of wind energy, there's a rising need for high-performance lubricants tailored to turbine applications.

The expansion of emerging markets presents significant opportunities for the synthetic lubricants market. As economies in regions like Asia-Pacific, Latin America, and Africa grow, there's an increasing demand for industrial machinery and automotive vehicles requiring lubrication. Synthetic lubricants offer advantages such as enhanced performance and extended equipment lifespan, appealing to industries aiming for regulatory compliance and operational efficiency. Companies in the synthetic lubricants market are targeting emerging markets to capitalize on these opportunities, offering tailored solutions.

Synthetic Lubricants Market Report Highlights

In 2023, the polyalphaolefin segment held significant revenue share owing to superior performance, wide applicability, and temperature stability.

In 2023, the engine oil segment held significant revenue share owing to stringent performance requirements, and need for fuel efficiency and emission reduction.

In 2023, the automotive and transportation segment held significant revenue share owing to Increasing vehicle ownership, OEM recommendations, and technological advancements.

In 2023, Asia-Pacific region accounted for a significant market share due to rapid industrialization and urbanization, growing automotive industry, and stringent environmental regulations.

The market is highly competitive owing to the existence of market players with a global presence, including Royal Dutch Shell plc, TotalEnergies SE, Amsoil Inc., BP plc, Chevron Corporation, Exxon Mobil Corporation, Fuchs SE, and Petroliam Nasional Berhad among others.

Polaris Market Research has segmented the Synthetic Lubricants market report based on type, application, end use, and region:

Synthetic Lubricants, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Polyalkylene Glycol (PAG)

Polyalphaolefin (PAO)

Esters

Others

Synthetic Lubricants, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Transmission Fluids

Engine Oil

Heat Transfer Fluids

Metalworking Fluids

Others

Synthetic Lubricants, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

Automotive and Transportation

Power Generation

Food and Beverage

Heavy Equipment

Others

Synthetic Lubricants, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

France

Germany

UK

Italy

Netherlands

Spain

Russia

Asia Pacific

Japan

China

India

Malaysia

Indonesia

South Korea

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Synthetic Lubricants Market Insights
4.1. Synthetic Lubricants Market – End Use Snapshot
4.2. Synthetic Lubricants Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Growing automotive industry is projected to spur the product demand
4.2.1.2. Rising Industrialization and manufacturing activities are expected to drive synthetic lubricants market growth
4.2.2. Restraints and Challenges
4.2.2.1. Higher cost is likely to impede the market growth
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Synthetic Lubricants Market End Use Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Synthetic Lubricants Market, by Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
5.3. Polyalkylene Glycol (PAG)
5.3.1. Global Synthetic Lubricants Market, by Polyalkylene Glycol (PAG), by Region, 2019-2032 (USD Billion)
5.4. Polyalphaolefin (PAO)
5.4.1. Global Synthetic Lubricants Market, by Polyalphaolefin (PAO), by Region, 2019-2032 (USD Billion)
5.5. Esters
5.5.1. Global Synthetic Lubricants Market, by Esters, by Region, 2019-2032 (USD Billion)
5.6. Others
5.6.1. Global Synthetic Lubricants Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Synthetic Lubricants Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
6.3. Transmission Fluids
6.3.1. Global Synthetic Lubricants Market, by Transmission Fluids, by Region, 2019-2032 (USD Billion)
6.4. Engine Oil
6.4.1. Global Synthetic Lubricants Market, by Engine Oil, by Region, 2019-2032 (USD Billion)
6.5. Heat Transfer Fluids
6.5.1. Global Synthetic Lubricants Market, by Heat Transfer Fluids, by Region, 2019-2032 (USD Billion)
6.6. Metalworking Fluids
6.6.1. Global Synthetic Lubricants Market, by Metalworking Fluids, by Region, 2019-2032 (USD Billion)
6.7. Others
6.7.1. Global Synthetic Lubricants Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Synthetic Lubricants Market, by End Use
7.1. Key Findings
7.2. Introduction
7.2.1. Global Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
7.3. Automotive and Transportation
7.3.1. Global Synthetic Lubricants Market, by Automotive and Transportation, By Region, 2019-2032 (USD Billion)
7.4. Power Generation
7.4.1. Global Synthetic Lubricants Market, by Power Generation, By Region, 2019-2032 (USD Billion)
7.5. Food and Beverage
7.5.1. Global Synthetic Lubricants Market, by Food and Beverage, By Region, 2019-2032 (USD Billion)
7.6. Heavy Equipment
7.6.1. Global Synthetic Lubricants Market, by Heavy Equipment, By Region, 2019-2032 (USD Billion)
7.7. Others
7.7.1. Global Synthetic Lubricants Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Synthetic Lubricants Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Synthetic Lubricants Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Synthetic Lubricants Market – North America
8.3.1. North America: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.3.2. North America: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.3.3. North America: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.3.4. Synthetic Lubricants Market – U.S.
8.3.4.1. U.S.: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.3.5. Synthetic Lubricants Market – Canada
8.3.5.1. Canada: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.3.5.3. Canada: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4. Synthetic Lubricants Market – Europe
8.4.1. Europe: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.2. Europe.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.3. Europe: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.4. Synthetic Lubricants Market – UK
8.4.4.1. UK: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.4.2. UK.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.4.3. UK: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.5. Synthetic Lubricants Market – France
8.4.5.1. France: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.5.2. France.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.5.3. France: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.6. Synthetic Lubricants Market – Germany
8.4.6.1. Germany: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.6.3. Germany: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.7. Synthetic Lubricants Market – Italy
8.4.7.1. Italy: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.7.3. Italy: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.8. Synthetic Lubricants Market – Spain
8.4.8.1. Spain: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.8.3. Spain: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.9. Synthetic Lubricants Market – Netherlands
8.4.9.1. Netherlands: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.4.10. Synthetic Lubricants Market – Russia
8.4.10.1. Russia: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.4.10.2. Russia.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.4.10.3. Russia: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5. Synthetic Lubricants Market – Asia Pacific
8.5.1. Asia Pacific: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.4. Synthetic Lubricants Market – China
8.5.4.1. China: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.4.2. China.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.4.3. China: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.5. Synthetic Lubricants Market – India
8.5.5.1. India: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.5.2. India.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.5.3. India: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.6. Synthetic Lubricants Market – Malaysia
8.5.6.1. Malaysia: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.7. Synthetic Lubricants Market – Japan
8.5.7.1. Japan: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.7.3. Japan: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.8. Synthetic Lubricants Market – Indonesia
8.5.8.1. Indonesia: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.5.9. Synthetic Lubricants Market – South Korea
8.5.9.1. South Korea: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.6. Synthetic Lubricants Market – Middle East & Africa
8.6.1. Middle East & Africa: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.6.4. Synthetic Lubricants Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.6.5. Synthetic Lubricants Market – UAE
8.6.5.1. UAE: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.6.5.3. UAE: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.6.6. Synthetic Lubricants Market – Israel
8.6.6.1. Israel: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.6.6.3. Israel: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.6.7. Synthetic Lubricants Market – South Africa
8.6.7.1. South Africa: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.7. Synthetic Lubricants Market – Latin America
8.7.1. Latin America: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.7.2. Latin America.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.7.3. Latin America: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.7.4. Synthetic Lubricants Market – Mexico
8.7.4.1. Mexico: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.7.5. Synthetic Lubricants Market – Brazil
8.7.5.1. Brazil: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
8.7.6. Synthetic Lubricants Market – Argentina
8.7.6.1. Argentina: Synthetic Lubricants Market, by Type, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Synthetic Lubricants Market, by End Use, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Synthetic Lubricants Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. Amsoil Inc.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. BP plc
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Chevron Corporation
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Exxon Mobil Corporation
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Fuchs SE
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. Idemitsu Kosan Co., Ltd.
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. LANXESS
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Motul
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. Pennzoil
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. Penrite Oil Company
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. Petroliam Nasional Berhad (PETRONAS)
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Phillips 66
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. Royal Dutch Shell plc
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. TotalEnergies SE
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Valvoline Inc.
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development

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