1. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Synthetic Lubricants Market Size, Share, Industry Outlook & Forecast 2016-2024 Synthetic lubricant market size is projected to register USD 5.0 billion by 2023

2. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Synthetic lubricant market size is projected to register USD 5.0 billion by 2023. Increasing focus towards natural gas development owing to strong application scope in construction, food & beverages and personal care industries, particularly Saudi Arabia, Qatar and UAE, may favor demand.  Synthetic lubricants market size was estimated at 652.2 kilo tons in 2015, as per the latest research report by Global Market Insights, Inc. Positive automotive production landscape, particularly in Asia Pacific, along with superior performance and environmental properties will drive the global synthetic lubricants market trends.  (Group IV) PAO synthetic lubricants market size was dominant by accounting over 66% of the total demand in 2015. Increased PAO usage in automotive engines accompanied by OEM recommendations in major brands such as BMW and Volkswagen should instigate product demand. Global Market Scenario of Synthetic lubricants Industry

3. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Europe PAG market is poised to sustain average growth and register over USD 165 million by 2023. Strong focus towards reducing maintenance cost and rising trend in condition based monitoring for manufacturing sector is projected to promote PAG market growth.  Asia Pacific heat transfer fluid demand may observe highest gains with 4.7% CAGR up to 2023. HTFs are used for heating reboilers and water removal in the oil & gas and chemical industries. Presence of large scale manufacturing companies in China and India may instigate product demand.  Synthetic lubricants market price are higher when compared to mineral based products which may negatively impact overall growth. Continue:

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5. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Engine oil applications accounted for over 40% of synthetic lubricants market share in 2015, with growth expectations of 4.2% CAGR by 2023. Primary application functions include increasing drain intervals and provide excellent film protection, as well as a wide operating temperature range.  Heat transfer fluids (HTF), which are meant for water removal and heating reboilers in the chemical and oil & gas industries, are also a key application avenue. Synthetic lubricants market size for HTF is likely to exceed 290 kilo tons by 2023.  These products are also as automatic transmission fluids to perform functions such as valve operation, brake band friction, torque conversion and gear oiling. In addition, transmission fluids are also used as hydraulic fluids in power steering and as a lubricant in 4WD transfer cases. This application segment should grow at 4.1% CAGR from 2016 to 2023 for industry participants. Application Insights Request sample copy of Industry report@ https://www.gminsights.com/request-sample/detail/368

6. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Browse this full report@ https://www.gminsights.com/industry- analysis/synthetic-lubricants-market  (Group IV) PAO synthetic lubricants market share was calculated at over 435 kilotons in 2015, with growth forecast of 4% CAGR up to 2023. Increased PAO use in automotive engines coupled with OEM recommendations in brands such as Volkswagen and BMW is expected to augment segment growth over the next seven years.  Synthetic lubricant ester market size is likely to reach USD 1.73 billion by 2023, with 4.9% CAGR growth. Growing lubricant esters demand in reciprocating compressors on account of OEM such as Ingersoll Rand, endorsing use of compressor oil is expected to drive synthetic lubricants market size growth. Products Insights

7. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Regional Analysis  APAC, which is dominated by China and India synthetic lubricants market size, should achieve 244.7 kilo ton consumption level by 2023, growing at 4.6%. Increasing high-end vehicle sales in Asia Pacific is expected to drive growth over the forecast period. High performance and superior properties in comparison to their mineral based products, enables wide applications in high-end automotive uses for these products.  Europe synthetic lubricants market share should exceed revenue of USD 1.66 billion by 2023, owing to presence of key automotive and aerospace manufacturing companies including Airbus, Rolls Royce, BMW, Audi, Mercedes and VW.  Middle East and Latin America synthetic lubricants market offers untapped growth opportunities for industry players, while U.S. is a fairly saturated regional market. Inquire For Buying Industry Report@ https://www.gminsights.com/inquiry-before-buying/368

8. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Latest Research Report On Market Research Report@ https://www.gminsights.com/industry-analysis/synthetic-lubricants- market Request Sample copy of this report@ https://www.gminsights.com/request-sample/detail/368 For Customization in this report click@ https://www.gminsights.com/roc/368

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