Synthetic Lubricants Market Report Scope & Overview:

The Synthetic Lubricants Market Size was valued at USD 37.23 billion in 2022, and is expected to reach USD 48.65 billion by 2030, and grow at a CAGR of 3.4% over the forecast period 2023-2030. To manage or reduce friction, lubricant is applied between the two surfaces of an engine component or machinery. Synthetic lubricants are made from synthetic base oils that are used to replace mineral oil in crude oil, such as esters, PAO, and others. It is typically described as an oily, liquid substance. Although it is not made from petroleum, it has qualities that are similar to petroleum lubricants. These lubricants regulate vehicle temperature by collecting heat generated by the vehicle's moving parts and transferring it to the cooler. As a result, these lubricants extend the life of automobiles.

Synthetic Lubricants Market Regional Analysis

Get more information on Synthetic Lubricants Market - Request Sample Report



  • Used as an alternative for petroleum-refined oils.


  • Increasing demand for automotive.

  • The expanding automobile, construction, and power & energy industry.


  • Reducing the cost of synthetic lubricants.


  • US and European: Implementing the regulations for reducing the dependence on petroleum-based products.

Impact Of COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on human health as well as several business sectors around the world, including autos, food and drinks, electrical and electronic devices, semiconductor devices, aircraft, and many more. The number of corona cases is increasing every day, prompting governments in several emerging countries to impose lockdowns. Manufacturing industries are experiencing supply chain problems, workforce shortages, and a paucity of raw supplies as a result of the lockdown. Production is halted as a result of this predicament.

The need for synthetic lubricants has decreased as the automotive industry has slowed. Synthetic lubricant demand and sales have decreased as a result of lockdowns, production halts, supply chain disruptions, transportation bans, and the fall of the automotive industry. Furthermore, following the lifting of the lockdowns and the reduction of corona cases, the synthetic lubricants business is fast growing.

By Type Silicones, esters, polyalphaolefin (PAO), polyalkylene-glycol-market-5081'>polyalkylene glycol (PAG), and others are some of the forms of synthetic lubricants available globally (alkylated aromatics, polybutenes). PAO is predicted to have the biggest market share among these types since it is the most widely used synthetic lubricant for a variety of applications and in huge quantities. PAO is primarily utilised in hydraulic oils, transmission oils, engine oils, and compressor oils as a high-performance functional base fluid.

By Application Process oil, motor oil, hydraulic oil, marine lubricants, metalworking fluids, and other synthetic lubricant uses are divided into several categories (compressor oils, gear oils, synthetic greases oils). Engine oil is used in cars to reduce metal-on-metal contact, reduce overall friction, and protect against damage.

By end use Construction, power & energy, mining, automobile, food processing, oil& gas, and other industries use synthetic lubricants (turbines, vacuum pumps, soap & paint industries). Due to the applicability of synthetic lubricants in overall vehicle systems over industrial applications, the automotive segment leads the market in terms of both value and volume.

Market Segmentation:

By Type

  • Polyalphaolefin (PAo)

  • Esters

  • Polyalkylene glycol (PAG)

  • Group III (Hydrocracking)

By Product Type

  • Engine oil

  • Hydraulic fluids

  • Metalworking fluids

  • Compressor oil

  • Gear oil

  • Refrigeration oil

  • Transmission fluids

  • Turbine oil

By End-Use Industry

  • Construction

  • Mining

  • Metal Production

  • Cement Production

  • Power Generation

  • Automotive Manufacturing

  • Chemical

  • Marine (Deck Manufacturing)

  • Oil & Gas

  • Textile

  • Food Processing

  • Others

Synthetic Lubricants Market Segmentation Analysis

Get Customized Report as per your Business Requirement - Request For Customized Report

Regional Analysis

Europe, Asia-Pacific, North America, Latin America, and the Middle East and Africa are the five key regions in which synthetic lubricants are sold. Asia-Pacific has the highest synthetic lubricant market share due to demand in rising countries such as China and Japan for various applications such as automotive, power and energy, and construction. Because of the increased demand for automobiles in India, Taiwan, and South Korea, Asia-Pacific is the largest consumer of worldwide synthetic lubricants. The market expansion in this region is being fueled by urbanisation, industrialization, and the largest automotive sales and production.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

Royal Dutch Shell PLC, Chevron Corporation, Sinopec Limited, Fuchs Group, Idemitsu Kosan Co. Ltd., Eni SpA, Castrol, Fischer–Tropsch process, Mobil 1,  ExxonMobil Corporation, Total SA, Lukoil, Indian Oil Corporation Ltd, British Petroleum PLC, and Others.

Chevron Corporation-Company Financial Analysis

Synthetic Lubricants Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 37.23 Billion
Market Size by 2030 US$ 48.65 Billion
CAGR CAGR of 3.4% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (PAo, Esters, PAG, Group III)
• By Product Type (Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, Turbine oil)
• By End-Use Industry (Construction, Mining, Metal Production, Cement Production, Power Generation, Automotive Manufacturing, Chemical, Marine, Oil & Gas, Textile, Food Processingl, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Royal Dutch Shell PLC, Chevron Corporation, Sinopec Limited, Fuchs Group, Idemitsu Kosan Co. Ltd., Eni SpA, Castrol, Fischer–Tropsch process, Mobil 1,  ExxonMobil Corporation, Total SA, Lukoil, Indian Oil Corporation Ltd, British Petroleum PLC, and Others.
DRIVERS • Increasing demand for automotive.
• The expanding automobile, construction, and power & energy industry.
OPPORTUNITIES • Used as an alternative for petroleum-refined oils.

Frequently Asked Questions

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Europe, Asia-Pacific, North America, Latin America, and the Middle East, and Africa are the five key regions in which synthetic lubricants are sold.

Ans: Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, and Turbine oil are the sub-segments by Product type.


Ans: Used as alternative for petroleum-refined oils are the Opportunity  for Synthetic Lubricants Market.

Ans: Synthetic Lubricants Market Size was valued at USD 37.23 billion in 2022, and is expected to reach USD 48.65 billion by 2030, and grow at a CAGR of 3.4% over the forecast period 2023-2030.


Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Global Synthetic Lubricants Market Segment, By type

8.1 Polyalphaolefin (PAo)

8.2 Esters

8.3 Polyalkylene glycol (PAG)

8.4 Group III (Hydrocracking)

9. Global Synthetic Lubricants Market Segment, By Product Type

9.1 Engine oil

9.2 Hydraulic fluids

9.3 Metalworking fluids

9.4 Compressor oil

9.5 Gear oil

9.6 Refrigeration oil

9.7 Transmission fluids

9.8 Turbine oil

10. Global Synthetic Lubricants Market Segment, By End-Use Industry

10.1 Construction

10.2 Mining

10.3 Metal Production

10.4 Cement Production

10.5 Power Generation

10.6 Automotive Manufacturing

10.7 Chemical

10.8 Marine (Deck Manufacturing)

10.9 Oil & Gas

10.10 Textile

10.11 Food Processing

10.12 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3 Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4 Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6 Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

12. Company Profiles

12.1 Royal Dutch Shell PLC

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 ExxonMobil Corporation

12.3 British Petroleum PLC

13.4 Chevron Corporation

12.5 Total SA

12.6 Sinopec Limited

12.7 Lukoil

12.8 Indian Oil Corporation Ltd.

12.9 Fuchs Group

12.10 Idemitsu Kosan Co. Ltd.

12.11 Eni SpA

12.12 Castrol

12.13 Fischer–Tropsch process

12.14 Mobil 1

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone