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Synthetic Lubricants Market Size, Share, Report, Analysis, Trends & Forecast to 2026Apr 09, 2019 (MarketersMedia via COMTEX) — According to Stratistics MRC, the Global Synthetic Lubricants Market is accounted for $28.32 billion in 2017 and is expected to reach $45.48 billion by 2026 growing at a CAGR of 5.4% from 2017 to 2026. — Some of the factors such as increase in automotive industry and Vehicle Park are propelling the market growth. However, rise in demand for alternative fuels is restricting the market growth. Advancements in synthetic lubricants technologies are creating ample opportunities for the market growth. Request for sample here: https://www.strategymrc.com/report/synthetic-lubricants-market/request-sample Synthetic lubricants are composed of synthetic base oil, thickeners and additives that provide oil lubricants and grease numerous performance advantages in comparison to the conventional mineral based lubricants. Synthetic oil is a lubricant comprising of chemical products that are produced artificially. They are manufactured from chemically modified petroleum products and can be synthesized from various raw materials. It provides superior mechanical and chemical properties to those found in traditional mineral oils. Synthetic oil acts as a substitute for lubricant refined from petroleum when operating in extreme temperatures. On the basis of Application, the engine oil segment is mainly driven by the growing automotive industry, which includes personal vehicles and high cargo transportation. Engine oil is mainly used in automobiles to reduce metal-to-metal contact and minimize overall friction and reduce damage. This dominance is also attributed to the rapid growth of the automotive industry, especially in the Asia Pacific region. Access the complete report at: https://www.strategymrc.com/report/synthetic-lubricants-market Some of the key players in Synthetic Lubricants market include, DOW Chemical Company, Fuchs Group, Sinopec Limited, Royal Dutch Shell PLC, Indian Oil Corporation Ltd., British Petroleum (BP) PLC, Pennzoil, Total SA, Petroliam Nasional Berhad, Exxonmobil Corporation, Idemitsu Kosan Co. Ltd., Lubrizol Corporation, BP PLC, Lukoil, Chevron Corporation. Make an inquiry at: https://www.strategymrc.com/report/synthetic-lubricants-market Types Covered: Applications Covered: Regions Covered: What our report offers: Follow us on Twitter: https://twitter.com/StratisticsMRC Follow us on LinkedIn at: https://www.linkedin.com/company/stratistics-market-research-consulting-pvt-ltd?trk=mini-profile About Stratistics MRC Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects. Contact Info: Source URL: https://marketersmedia.com/synthetic-lubricants-market-size-share-report-analysis-trends-forecast-to-2026/500382 Source: MarketersMedia Release ID: 500382 ********************************************************************** As of Friday, 04-05-2019 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated an UPTREND on 05-29-2012 for DOW @ $31.83. For more informa Please read the End User Agreement. News provided by COMTEX. |
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